The growing adoption of cloud-based solutions is anticipated to be opportunistic for the System of Insight market
The global system of insight market size is projected to reach over USD 3 billion by 2025. In addition, it is anticipated to gather a CAGR of nearly 22% over the forecast years 2018-2025. The analytics has gain traction in recent years as it assists organizations and companies in simplifying their operations and enhance customer experience at the same time. The data-driven decisions offer tremendous opportunities for the businesses as it helps in gaining competitive advantage in the global market. Hence, such factors driving the demand for a system of insight market across numerous industry verticals.
The current and future systems of insight market advances are defined to state the attractiveness of the market. Key impacting aspects focus on the system of insight into market opportunities during the forecast period. Factors such as the growing need for real-time insights to get a competitive advantage are driving the market growth. 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.
The report also highlights various aspects of the global system of insight industry by analyzing the market through value chain analysis. Besides, the System of Insight market report covers different qualitative aspects of the system of insight industry in market drivers, key industry opportunities, and restraints. Furthermore, the report proposes a comprehensive valuation of the market competitiveness along with company profiling of residents as well as global vendors.
The system of insight market has heavy competition among the early recognized and new players. Also, to seize a competitive lead over the other industry players several industry players are targeting potential markets by partnering and collaborating with other market players. In addition, several players are forming mergers & acquisitions, agreements, acquiring startups, and escalating their business presence.
In terms of the applications, the market is segmented into workforce management, sales and marketing management, customer analytics, operations management, risk and compliance management, and others. 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. On the contrary, the sales and marketing management segment leads the market growth in 2019 and it is projected to hold its position during the forecast years.
The Asia-Pacific region is projected to accumulate the highest growth during the forecast years due to the rising adoption of connected and IoT devices in this region. However, 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.
The major players of the global system of insight market are SAS, Oracle, Tibco Software, GoodData, NGDATA, Striim, SAP, IBM, 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. In addition, the previously recognized market players are coming up with new and advanced strategic services and solutions to stay competitive in the global market.
Segment Overview of 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)
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia-Pacific
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
- South America
- Rest of South America