Analytics Trends to Be Explored at Gartner Data & Analytics Summits 2017
SYDNEY, Australia, February 17, 2017 — Global revenue in the business intelligence (BI) and analytics software market is forecast to reach $18.3 billion in 2017, an increase of 7.3 percent from 2016, according to the latest forecast from Gartner, Inc. By the end of 2020, the market is forecast to grow to $22.8 billion.
According to Gartner, modern BI and analytics continues to expand more rapidly than the overall market, which is offsetting declines in traditional BI spending. The modern BI and analytics platform emerged in the last few years to meet new organizational requirements for accessibility, agility and deeper analytical insight, shifting the market from IT-led, system-of-record reporting to business-led, agile analytics including self-service.
The modern BI and analytics market is expected to decelerate, however, from 63.6 percent growth in 2015 to a projected 19 percent by 2020. Gartner believes this reflects data and analytics becoming mainstream. The market is growing in terms of seat expansion, but revenue will be dampened by pricing pressure.
"Purchasing decisions continue to be influenced heavily by business executives and users who want more agility and the option for small personal and departmental deployments to prove success," said Rita Sallam, research vice president at Gartner. "Enterprise-friendly buying models have become more critical to successful deployments."
Gartner believes the rapidly evolving modern BI and analytics market is being influenced by the following seven dynamics:
"Organizations will benefit from the many new and innovative vendors continuing to emerge, as well as significant investment in innovation from large vendors and venture capital-funded startups," said Ms. Sallam. "They do, however, need to be careful to limit their technical debt that can occur when multiple stand-alone solutions that demonstrate business value quickly, turn into production deployments without adequate attention being paid to design, implementation and support."
Gartner clients can read more in the reports: "Magic Quadrant for Business Intelligence and Analytics Platforms" and "Forecast: Enterprise Software Markets, Worldwide, 2013-2020, 4Q16 Update."
Gartner Data & Analytics Summit
Gartner analysts will provide additional analysis on data and analytics leadership trends at the Gartner Data & Analytics Summit 2017, taking place February 20-21 in Sydney, March 6-9 in Grapevine, Texas, March 20-22 in London, May 23-24 in Tokyo, June 6-7 in Mumbai, and June 20-21 in Sao Paulo, Brazil. Follow news and updates from the events on Twitter using #GartnerDA.
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