The Prospects for Business Intelligence

Some Quick Facts

• The business intelligence (BI) software market in India is in high growth phase and currently witnessing a year-on-year growth of more than 20 percent.

• Revenue from BI software market was worth $23.8 million in 2004, and is expected to reach $99.1 million in 2011, growing at a compound annual growth rate (CAGR) of 22.6 percent during the period 2004-2011

• As BI is driving the performance of different industries, its key market drivers in turn are:
• Need to adhere to regulatory and corporate governance norms
• Extensive presence of business applications in large enterprises
• Enhancement in employee productivity
• Intense competition
• Expanding e-government initiatives

• The key verticals like banking, financial services and insurance (BFSI), telecommunication, and the government are expected to drive the market during the period 2005-2011.

• There is a growing awareness of BI software in the Asia Pacific region.

• Western part of India is the largest market for the BI software.

• There is a greater demand for customized BI software solutions from medium-sized enterprises.

• BFSI and telecommunication verticals are the major adopters of BI software in India, and contribute maximum to its revenues.

• A significant number of public sector banks are yet to deploy BI software, which provides a good potential for the BI industry.

• Manufacturing and government verticals are expected to drive the BI software market during the forecast period 2005-2011.

• As the awareness about BI software increases, other verticals such as retail and distribution and hospitality are also expected to invest significantly in the BI software solutions in the Indian market.