Data-driven decision making is a crucial factor for every business as it offers a wide range of opportunities for the business and its overall operations. System of insight technology collects, classifies, converts, and evaluates data by leveraging statistical tools. Hence, it further helps businesses in organizing and optimizing the business processes in a better way.
The global system of insight market revenue is projected to reach over USD 3 billion by 2025. This can be attributed to the growing need for real-time insights to get a competitive advantage. In addition, the growing volume of unstructured data is also boosting the global system of insight market growth.
However, the growing security concerns and lack of skilled professionals are likely to hamper the market growth. Furthermore, the growing adoption of cloud-based solutions is anticipated to be opportunistic for the market.
Key Segments of the Global System of Insight Market
Component Overview, 2018-2025 (USD Million)
Application Overview, 2018-2025 (USD Million)
- Workforce Management
- Sales and Marketing Management
- Risk and Compliance Management
- Customer Analytics
- Operations Management
Industry Vertical Overview, 2018-2025 (USD Million)
- IT & Telecom
- Government & Defense
Regional Overview, 2018-2025 (USD Million)
- Rest of Europ
- Rest of Asia-Pacifi
Middle East and Africa
- South Africa
- Rest of Middle East and Afric
- Rest of South America
Reasons for the study
- The purpose of the study is to give an exhaustive outlook of the global system of insight market. Benchmark yourself against the rest of the market.
- Ensure you remain competitive as innovations by existing key players to boost the market.
What does the report include?
- The study on the global system of insight market includes qualitative factors such as drivers, restraints, and opportunities
- The study covers the competitive landscape of existing/prospective players in the system of insight industry and their strategic initiatives for the product development
- The study covers a qualitative and quantitative analysis of the market segmented based on component, application, and industry vertical. Moreover, the study provides similar information for the key geographies.
- Actual market sizes and forecasts have been provided for all the above-mentioned segments.
Who should buy this report?
- This study is suitable for industry participants and stakeholders in the global system of insight market. The report will benefit every stakeholder involved in the system of insight market.
- Managers within the system of insight industry looking to publish recent and forecasted statistics about the global system of insight market.
- Government organizations, regulatory authorities, policymakers, and organizations looking for investments in trends of global System of Insight market.
- Analysts, researchers, educators, strategy managers, and academic institutions looking for insights into the market to determine future strategies.
A system of insight is a technology that is deployed by organizations to enhance the customer experience by collecting, categorizing, and analyzing data derived via conventional sources. The growing adoption of smart devices and IoT is driving the demand for a system of insight solutions across numerous businesses and industries. Additionally, the increasing need among organizations to get real-time insights is also anticipated to drive the market growth over in the forecast period.
Based on the component segment, the market is divided into solutions and services. In the year 2019, the solutions segment accounted for the highest market revenue and it is projected to hold the major market share over the forecast period. The growth of this segment is primarily accredited to the increasing need to process and analyze large amounts of data in real-time. On the contrary, the services segment accounted for the highest growth and it is expected to hold its position over the forecast period.
Based on the application, the market is segmented into workforce management, sales, and marketing management, risk and compliance management, customer analytics, operations management, and others. The sales and marketing management segment leads the market growth in 2019 and it is projected to hold its position during the forecast years. On the contrary, the operations management segment accounted for the highest growth and it is expected to hold its position over the forecast period. The market growth of this segment is primarily attributed to the increasing need to derive real-time insights from the data to ensure the efficient functioning of business operations.
Industry Vertical Segment
In terms of industry vertical segment, the market is segmented into BFSI, IT & telecom, healthcare, retail, manufacturing, government & defense, and others. The BFSI segment accounted for the major market share in 2019 and it is expected to do so over the forecast years. The market growth in this segment is mainly accredited to the extensive range applications in the BFSI industry such as electronic transaction monitoring, algorithmic trading, and pre-trade analytics.
The North American region dominated the overall market in 2019 and it is projected to keep its position throughout the forecast period 2018-2025. The dominance of this region is mainly attributed to the existence of market giants in this region. However, the Asia-Pacific region is projected to accumulate the highest growth over the forecast period due to the increasing adoption of connected and IoT devices in this region.
The major players of the global system of insight market are SAP, IBM, SAS, Oracle, Tibco Software, GoodData, NGDATA, Striim, Streamlio, and CoolaData. Moreover, the other prospective players in the system of insight market are Plutora, Correlate, INETCO, Signals Analytics, and Radicalbit. The system of insight market comprises well established local as well as global players. Besides, the previously recognized market players are coming up with new and advanced strategic services and solutions to stay competitive in the global market.