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Our Bureau

Bangalore , June 24

FROST & Sullivan expects the Indian market for business intelligence (BI) applications to grow to $70 million by 2007, registering a compounded annual growth rate (CAGR) of 29.4 per cent. A report released by Frost & Sullivan said the demand from IT, telecom and the BFSI segment, especially the PSU banks, would drive the growth for BI applications.

The report said data warehousing and reporting tools proved to be the most sought after applications by clients seeking business intelligence solutions. These tools contributed to about 70 per cent of the overall revenues generated by BI vendors in India in 2004.

In terms of adoption, the pharmaceutical vertical is the most mature with many large pharma companies having already implemented BI solutionsKey market drivers include the maturing of transaction systems such as ERP, competitive market pressures, increased product functionalities available with vendors and the need to comply with emerging standards such as Basel II and Sarbanes-Oxley.

According to the report, clients prefer implementing BI solutions from a single vendor to using different BI vendors for specific tools.

Mr Alok Shende, Director - Technology, Frost & Sullivan, said, "With 2005 revenues expected to touch $43 million, we are seeing an unprecedented growth rate. in the BI market"

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