With the business intelligence and analytics market becoming more cloud centric, Qlik, business analytics firms, plans to launch its commercial cloud model in the next couple of months. The company already has its presence in the cloud market through QlikSense, which it launched last year.
The global Business Intelligence and Analytics Software market is expected to grow from $17.90 Billion in 2015 to $26.78 Billion by 2020, at a CAGR of 8.4%, as per research firm MarketsandMarkets.
Founded in Sweden more than 20 years back, Qlik has been present in India for the last seven years and has adopted an aggressive GTM to tap the market. “India story is good, and I am pretty confident that we will continue to grow and invest,” said Souma Das, MD, Qlik Technologies India, without revealing any numbers.
Qlik’s customers in India include some big names like HDFC Life, Mahindra & Mahindra, Maruti, Samsung etc.
Souma informs they are doing well in manufacturing and automobiles; and in the insurance sector almost 90% are using their technology, with many being adopted in the last 6-12 months back.
Among the new segments, which he sees as aggressively coming up, include healthcare and pharma. “In the last 18 months we have seen a significant growth in the pharma sector. However, the biggest responder we see at this time among the new segments is IT and IT services and consulting houses. They are adopting our technology big time (almost at enterprise level),” he informs.
As part of its investment in India, Qlik recently inaugurated a new office in Bangalore. Headquartered in Mumbai, today it has five offices across the country: Noida and Gurgaon offices mainly houses sales and consulting office, and the two in Bangalore which includes sales office and the new facility houses banking operation (like global marketing operations and digital work).
Souma who joined the company three years ago, informs that in the last three years the manpower has grown more than 7x. and there are plans to invest more.
As far as its GTM is concerned, Qlik has adopted multiple channels to sell: First, original and national level partners; Second, Sis and Consulting Houses (like Deloitte, KPMG etc.); third, OEM business, which Souma informs, is tripling in terms of revenue.
“Adoption is growing and as long as we see this continuity we will continue to invest in India,” Souma concludes.
Strengthening its cloud offerings the Company acquired Industrial CodeBox, the company behind QVSource, which allows Qlik Sense and QlikView users to include data from cloud-based sources such as social media, Software-as-a-Service (SaaS) applications, and other web-based APIs into their applications for deeper levels of insight.