Table of Contents
Exponentially Increasing Volumes of Enterprise Data Create Opportunity for Niche Analytics Products
As data multiplies, the need for enterprises, irrespective of industry vertical or operation scale, also grows. Organizations are embracing analytics solutions and investing time and money to adopt a holistic approach to business and data analysis. As business analytics expands in the global economy, the market for analytics software will continue to grow. Furthermore, the growing importance of analytics across enterprise functions offers several untapped opportunities to explore technologies capable of handling varied data. In this insight, the market opportunity and product offerings of Indian analytics product vendors are studied. The time frame for the study is 2013 to 2019.
-The global analytics market is estimated to be at nearly $ billion in 2013, growing at a CAGR of%.
-Growing importance of analytics for enterprise functions offers several untapped and unexplored opportunities to explore technologies capable of handling several kinds of data.
-Introduction of new products has been on a rise over the last two years. Over analytics products have been introduced post 2011 to monetize on the global opportunity.
-Key drivers to push the adoption of Indian analytics products by global enterprises are need for greater visibility of the enterprises and real-time analysis of operations and resources.
-Key restraints for an enterprise in adoption of analytics products are challenge in integration of analytics products to legacy applications and difficulty in proving return on investment (ROI).
-Nearly Indian analytics focused software product companies have successfully developed and launched products catering to niche business needs, cut across vertical specific, horizontal process centric and niche applications and platforms.
-Cross-vertical segment forms the largest offering section within the Indian analytics product landscape with % of launched products having cross-vertical functionalities to offer.
-Telecom and BFSI are the prime verticals of focus of the Indian analytics product vendors’ offerings.
-Nearly % of Indian product vendors focus on global markets owing to lucrative opportunities in the offshore market.
Definitions and Scope
-Analytics refers to the approach of computation and analysis of vast volumes of enterprise data, extracted from multiple enterprise applications, and presented in a user-friendly, comprehensible and structured format to enable data-driven decision making.
-The research talks about bonafide Indian analytics software product companies with a global focus.
-The research does not include analytics services and data analytics outsourcing market.
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