Thaindian News

New Delhi, Nov 23 (IANS) The market for business intelligence (BI) software in India is likely to grow 15.6 percent to $81.5 billion in 2012, a study said Wednesday.

“The market for BI software in India is forecast to reach revenue of $81.5 million in 2012, a 15.6 percent increase over 2011. Worldwide BI software market revenue is forecast to grow 8.7 percent to reach approximately $12.7 billion in 2012,” said research and advisory firm Gartner Inc.

According to the study ,the market for BI platforms will remain one of the fastest growing software markets despite expectations of an economic slowdown.

Organisations continue to turn to BI as a vital tool for smarter, more agile and efficient business, and they are increasing their current usage scenario from just an information delivery mechanism.

“The BI market has remained strong because the dominant vendors continue to put BI, analytics and performance management at the centre of their messaging, while end-user organisations largely continue their BI projects, hoping that resulting transparency and insight will enable them to cut costs and improve productivity and agility down the line,” said Bhavish Sood, research director at Gartner.

“It’s a sign of the strategic importance of BI that investment remains strong.”

Among the subsegments, BI platforms is still expected to be the largest in pure revenue terms, while corporate performance management suites is expected to grow the highest.

“The demand side of the BI platform market in early 2011 was defined by an intensified struggle between business users’ need for ease of use and flexibility on the one hand, and IT’s need for standards and control on the other,” said Sood.