New Delhi, Jun 7 (IANS): Indian business intelligence (BI) software revenue is predicted to reach $214 million in 2016, an 18.6 per cent increase over last year's $180 million, market research firm Gartner reported.

"The BI and analytics market is undergoing significant change. Adoption of machine learning techniques, and the emergence of smart data discovery solutions are fueling next round of investments," Gartner Research Director Bhavish Sood.

The forecast included revenue for BI platforms, advanced analytics platforms, analytic applications and corporate performance management (CPM) software.

"We see signs of the emerging importance of BI in India as senior executives are increasingly exploring the different styles of analytics to resolve their business imperatives," he said.

"There is an increased emphasis on metrics management and the growing use of performance management. Big data use cases are maturing and have executive visibility. This is leading to more investments in BI and information management," Sood added.

The BI platforms segment continues to lead the BI software market in India, as BI platforms revenue is predicted to reach $136 million in 2016.

All segments of the BI software market in India are expected to experience double-digit growth in the next two years.