Business Intelligence Software - India

In 2024, the projected revenue for the Business Intelligence Software market in India is US$385.20m.
It is expected to experience an annual growth rate (CAGR 2024-2029) of 10.96%.
This growth will result in a market volume of US$647.90m by 2029.
Additionally, the average Spend per Employee in the Business Intelligence Software market in India is projected to reach US$0.71 in 2024.
In terms of global comparison, United States is anticipated to generate the highest revenue in the Business Intelligence Software market in 2024, with a projected amount of US$13.96bn.
India's growing demand for Business Intelligence Software is driven by the need to analyze and leverage its vast amount of data for competitive advantage.

Definition:

The Business Intelligence Software market covers software applications that support organizations in analyzing, visualizing, and reporting data. They are also used to present information in a business context and thus support rational business decisions. These applications help to access data, implement queries, create reports, and perform advanced predictive analytics.

Products in the Business Intelligence Software market can be obtained in two ways: as on-premises software that is sold via a transactional license or a subscription and as cloud-based software (software as a service/ SaaS) that is most frequently sold as a subscription.

Additional Information:

The Business Intelligence Software market comprises revenue and revenue growth as the key performance indicators. Only the revenues that are generated by primary vendors at the manufacturer price level either directly or through distribution channels (excluding value-added tax) are included and the revenues generated by resellers are excluded. Revenues are generated through both online and offline sales channels and include spending by enterprises (B2B) and governments (B2G).

Key players in this market include SAS Institute, SAP, and IBM.

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Reporting & analysis software, such as Zoho Analytics, IBM Cognos Analytics, and Domo
Advanced & predictive analytics, such as Tableau, Amazon Forecast, and Adobe Analytics

AI software platforms, such as OpenAI, Alphabet, and DeepMind
Supply chain and product analytics, such as Azure Machine Learning, Tableau, and Qlik Supply Chain Analytics
Analytic data management and integration, such as SAS, IBM, TIBCO, and DataStax
Analytics and performance management applications, such as Paycor, BambooHR, and Lattice

The demand for Business Intelligence Software in India has been growing steadily in recent years, driven by various factors such as the increasing adoption of cloud-based solutions, rising demand for data analytics tools, and the need for real-time data insights.

Customer preferences: Indian customers are increasingly looking for Business Intelligence Software that can help them make data-driven decisions, improve operational efficiency, and gain a competitive advantage. They prefer solutions that are user-friendly, customizable, and can integrate with other applications. Furthermore, Indian customers are becoming more aware of the benefits of cloud-based solutions and are increasingly adopting them as they offer scalability, flexibility, and cost-effectiveness.

Trends in the market: One of the major trends in the Business Intelligence Software market in India is the increasing adoption of self-service analytics tools. These tools allow users to access and analyze data without the need for IT support, enabling them to make faster and more informed decisions. Another trend is the growing demand for mobile BI solutions, which provide users with access to real-time data insights on their mobile devices. Additionally, Indian companies are increasingly investing in advanced analytics tools such as predictive analytics and machine learning to gain deeper insights into their data.

Local special circumstances: India has a large and diverse market with varying levels of technological maturity across different industries. As a result, Business Intelligence Software vendors need to offer solutions that are tailored to the specific needs of different industries and organizations. Furthermore, Indian customers are price-sensitive, and vendors need to offer solutions that are affordable and provide value for money.

Underlying macroeconomic factors: India's economy has been growing rapidly in recent years, driven by factors such as a young and growing population, increasing urbanization, and rising disposable incomes. This growth has led to an increase in the adoption of technology across different industries, including the Business Intelligence Software market. Additionally, the Indian government's initiatives such as Digital India and Make in India have been promoting the adoption of technology and digital solutions across the country.

Data coverage:

The data encompasses B2B, B2G, and B2C enterprises. Figures are based on the allocation to the country where the money was spent at manufacturer price level (excluding VAT).

Modeling approach / Market size:

The segment size is determined through a top-down approach. We use financial statements such as annual reports, quarterly earnings, and expert opinions to analyze the markets. To estimate the segment size for each country individually, we use relevant key market indicators and data from country-specific industry associations such as GDP, level of digitization, GDP sector composition, and observed level of software piracy.

Forecasts:

We use a variety of forecasting techniques, for instance, advanced statistical methods, depending on the behavior of the relevant segment. The main drivers are the GDP and the level of digitization.

Additional notes:

The data is modeled using current exchange rates. The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level.

This report presents a comprehensive analysis and additional information on the Technology market, in a PDF format.

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These activities are planned and put into stages in a logical order, a process known as the software development life cycle (SDLC) or software development. The SDLC often includes six stages: requirement analysis, design, development, testing, implementation, documentation, and evolution. Programming languages such as JavaScript and C++ are used to create software, with JavaScript being the most popular programming language in 2023 and used by roughly 65 percent of software developers.