As more organizations shift from traditional analytics projects to augmented analytics tools, the revenue of analytics and business intelligence (BI) software market in India is expected to reach $304 million in 2018, reported Gartner. This is an increase of 18.1% year over year.
The augmented analytics tools help organizations speed up the data preparation and data cleansing. Gartner reported that an increased number of organizations in India are moving from traditional, tactical and tool-centric data and analytics projects to strategic, modern and architecture-centric data and analytics programs.
“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,” said Ehtisham Zaidi, principal research analyst at Gartner.
Revenue of modern BI platforms will grow by around 35% from 2017 to 2019, while the revenue growth of traditional BI platforms will grow by just 4.5%.
Further, the revenue of data management software market in India is also on the rise and will reach $950 million in 2018, an increase of 13.2% YoY. The growth of data management software market is driven by increased demand from organizations to integrate and manage unstructured data. Some of the Indian organizations are also experimenting data science on real-time streaming data.
“We are witnessing a rapid shift to the cloud and hybrid data management through focused data management offerings, including integration platform as a service (iPaaS) tools for cloud integration and data preparation tools for self-service integration,” said Mr. Zaidi. “We are also seeing the emergence of data lakes and data hubs, as a new way to ingest and manage multistructured data. However, unavailability of talent will continue to be a major inhibitor toward their adoption.”
For more flexible, agile and personalized options, the Indian organizations are also shifting the purchasing decisions from IT leaders to line-of-business executives and business users.