Analytics, BI software mkt in India to touch $304 mn in 2018: Gartner

Analytics and business intelligence software market in India is expected to reach USD 304 million in 2018, growing 18.1 per cent over last year, research firm Gartner today said.

The analytics and BI software market is expected to further grow to USD 356.2 million by 2019, as compared to USD 257 million in 2017, Gartner said in a report.

Indian organisations are increasingly moving from traditional enterprise reporting to augmented analytics tools that accelerate data preparation and data cleansing, it said.

It added that this change is expected "to positively impact the analytics and business intelligence (BI) software market in India".

"The 'fast followers' are even looking to make heavy investments in advanced analytics solutions driven by artificial intelligence and machine learning, to reduce the time to market and accuracy of analytics offerings," Gartner Principal Research Analyst Ehtisham Zaidi said.

He added that unavailability of talent will continue to be a major inhibitor toward adoption of these new-age tools.

Of the total market, spending on traditional BI platforms stood at USD 102.5 million, while that on modern BI platforms and corporate performance management (CPM) suites were at USD 59.1 million and USD 40.5 million, respectively, in 2017.

This is expected to grow to USD 107.7 million for traditional BI platforms, USD 81.4 million for modern BI platforms and USD 46.1 million for CPM solutions in 2018.

The report further said the market for analytic applications is expected to touch USD 35 million by 2019 (from USD 24.8 million in 2017), while data science platforms market is forecast to grow from USD 30 million in 2017 to USD 50.2 million by 2019.