The revenue of India's analytics and business intelligence (BI) software market will reach $304 million in 2018, an 18.1 per cent increase over the past year, according to a Gartner forecast on Tuesday.
The growth in this market is due largely to more and more Indian organisations moving from traditional enterprise reporting to augmented analytics tools that accelerate data preparation and data cleansing, the market research firm said in a statement.
"Indian organisations are shifting from traditional, tactical and tool-centric data and analytics projects to strategic, modern and architecture-centric data and analytics programmes," said Ehtisham Zaidi, Principal Research Analyst at Gartner.
"The 'fast followers' are even looking to make heavy investments in advanced analytics solutions driven by Artificial Intelligence (AI) and Machine Learning," Zaidi added.
The data management software market revenue in India is on pace to total $950 million in 2018, a 13.2 per cent increase year over year, Gartner said.
"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," Zaidi said.
"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," Zaidi added.