STORY ON BUSINESS INTELLIGENCE – Part-1
by Jasneet Bagga | 3 min read
Estimated market for BI in India and major players
Gartner says BI software revenue in India is forecasted to reach revenue of $81.5 million in 2012, a 15.6% increase over 2011 and grow to US$111.2 million by the end of 2016. Also, worldwide BI software market revenue is slated to grow by 8.7 percent to reach $12.7 billion in 2012. Forrester research group claims that globally, the BI market is unaffected by the current economic crisis and is expected to grow to $14 billion by 2014.
Prashant Tewari, Country Manager, Business Analytics, IBM software group, IBM India says, the market is estimated to be about US$40-50 million for BI/DW platform/products and about US$100-150 million for services. He is hopeful that with the growth rates hovering around 20%, it’s expected to go up significantly as the competition grows stronger and analytics starts playing a crucial role. IDC too pegs the Indian BI market at around 1,200 crores for FY 2012-13.
SAS, one of the leaders in the Indian analytics market believes that the analytics and BI market in India are growing at a CAGR of around 20% with SAS India holding the lions share in the advanced analytics market. Adding to it, Sanjay Mehta, CEO, MAIA Intelligence, said that "Organizations continue to turn to BI as a vital tool for smarter, more agile and efficient business, upping the current usage scenario from just an information delivery mechanism. Our estimate of BI market is expanding at the rate of 20% compounding year on year."
As per, the latest Dataquest research report on top business intelligence and analytics companies in India, the list is as follows:
ABIBA Systems, Active Cubes, Aditi technologies, Annik Technologies, Enteg Systems, IBM, iCreate Software, Information Builders, Informatica, Marlabs, MAIA Business Intelligence, Microstrategy, Mu Sigma, Oracle, Persistent, Qliktech, Ramco Systems, SAP and Teradata.
Biggies like SAP, SAS, IBM and Oracle as usual find their places in the list. But what comes as a finding is the emergence of domain specific BI & analytics software providers like ABIBA, iCreate and Manthan. These companies have created a lot of buzz in the recent past by winning the Red Herring Awards.
Factors pushing the adoption of Analytics in India
Organizations have already initiated or completed implementing integrated transaction systems to reliably capture the business process related data – e.g. Banks with Core Banking, Enterprise with ERP. As businesses are looking to ride the growth wave, the focus is on delivering updated real-time data to the managements allowing companies to intelligently utilize analytics led solutions.
Gartner has identified three major demand-side factors that continue to expand their usage and drive BI platform revenue growth:
Keep following us as the next part of this article will throw some lights on Verticals/Domains seeing heightened adoption of BI & Analytics in India and the way BI is being used by the companies.
Blog by : Ms. Jasneet Bagga , Senior Business Analyst, Ramco Systems.