Data analytics businesses are the fastest growing in India in 2017, followed by software and hardware product start-ups, a new report said on Wednesday.
According to the ‘Deloitte TechnologyFast50 India’ report, Noida-based data analytics firm Polestar Solutions and Services India LLP has been ranked number one, with its revenue growing nine times in the financial year 2017 compared to 2015.
Other winners that offer niche analytics services include Bridgei2i, Tiger Analytics and LatentView.
“Over the 13 years of Technology Fast50 India, we have seen the composition of our winners shift from generic software services provider to diverse activities, inclusive of highly-capable analytics offerings, digital marketing, technology-enabled education products and services, etc,” Rajiv Sundar, Partner and Programme Director-Technology Fast50 India 2017, Deloitte India, said in a statement.
Software product companies are making an impact on the Fast 50 rankings.
This year’s winners include Evolute Systems, Mobisy Technologies, Stellapps Technologies, Marketxpander Services and Robotic Wares, among others.
“These companies are creating global products and competing with the best in the world,” the Deloitte report said.
Evolute Systems Pvt Ltd, the second-ranked company this year, saw their revenue for the financial year 2017 jump more than eight times over the 2015 revenue.
This year, the top 10 companies recorded an average three-year growth rate of just over 500 percent.
Bengaluru continues to dominate the top 50 winners list with 19 winners, the report said.