Aussie BI Market Outpaces World – Set To Hit $889m
The business intelligence and analytics market in Australia will reach A$889.1 million in 2017, up 13.4 percent from last year, according to the latest forecast from market research outfit Gartner.
That’s almost twice the growth rate of 6.3 percent Gartner predicts for the global BI and analytics market. That should total US$18.3 billion.
Looking across the Tasman, Gartner estimates the New Zealand market will hit NZ$113.5 million, an increase of 8.1 percent.
Results of this survey will be presented to Gartner A/NZ’s annual two-day Business Intelligence and Analytics summit, which opens in Sydney today.
The global report says modern BI and analytics continues to expand more rapidly than the overall market, which is offsetting declines in traditional BI spending. It explains that the modern BI and analytics platform has emerged in the last few years to meet new organisational requirements for accessibility, agility and deeper analytical insight.
This has shifted the BI and analytics market from IT-led, system-of-record reporting to business-led, agile analytics including self-service functionality.
However Gartner warns that the modern BI and analytics market will decelerate, from 63.6 percent growth in 2015 to a projected 19 percent by 2020 as data and analytics becomes mainstream. “The market is growing in terms of seat expansion, but revenue will be dampened by pricing pressure,” Gartner says.
Among other things, the research firm predicts that new innovative vendors will help drive the next wave of market disruption; “extensibility” and “embeddability” will be key drivers of expanded use and value; and many organisations will increasingly leverage streaming data generated by devices, sensors and people to make faster decisions.