Mumbai Oct 30 (UNI) India is the fastest growing Business Intelligence (BI) platforms market in Asia, posting a growth of 35.6 per cent in 2005-06, according to global IT research and advisory firm Gartner Inc.
BI platforms revenues in India grew from US dollar 12.1 million in 2005 to reach US dollars 16.4 million in 2006, with all leading vendors posting double digit growth, it said.
In APAC (including Japan), the BI platforms market grew at 16 per cent to reach US dollars 491.8 million in 2006 with Japan accounting for more than half the overall market.
Gartner's principal research analyst Bhavish Sood said ''Enterprise agility is a high priority goal for enterprises in 2007. But BI's overall impact on business is poorly understood and BI is still considered as 'nice to have' in India. Many enterprises still rely on gut feelings and past experiences while making decisions and are not comfortable with the democratisation of information and the transparency that BI initiatives bring about''.
The overall BI market in India is at a nascent stage, with a huge untapped opportunity for vendors to capture. Chief Information Officers are increasingly required to invest into technologies that drive business transformation and strategic change. ''BI can deliver on this promise if deployed successfully'', he said.
BI revenues in India in the embedded subsegment witnessed a 49.6 per cent growth in 2005-06.
The top four vendors accounted for majority of the Indian BI platforms market, contributing more than 72 per cent of the overall revenues, it said.