System of Insight Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 19.73 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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System of Insight Market Analysis
The system of insights market is expected to register a growth at a CAGR of 19.73% over the forecast period (2021 - 2026). The demand for business intelligence has been on the rise, in recent years, with enterprises and organizations looking to enhance productivity and increase sales by adopting automated solutions.
- The system insights have witnessed a tremendous rise in its adoption across various industries around the world. Additionally, predictive and prescriptive analytics is growing business analytics trends among BI professional owing to the Big Data becoming the focus of analytics processes that are being leveraged not just by the big enterprises, but also small and medium-sized businesses alike.
- These solutions are becoming prevalent as enterprises continue to create new data at a rapid rate. For instance, the amount of data generated worldwide is increasing hugely. According to Seagate Technology PLC, the volume of data created worldwide is expected to increase to 47 zettabytes and 163 zettabytes in 2020 and 2025, respectively, from 12 zettabytes in 2015.
- The rising usage of the cloud has supported the data generated across various verticals. By 2020, the accumulated volume of Big Data is expected to increase from 4.4 zettabytes to roughly 44 zettabytes or 44 trillion GB. Moreover, the number of IoT connected devices is expected to rise over 50 billion devices by 2020, creating terabytes of data that need to be managed, stored, and analyzed.
- Software companies are currently increasing their focus on in-demand technologies and re-exploring innovative ways to serve their clients as the COVID-19 crisis is creating challenges across multiple industries and is leading to a reduction in technology spending. The data science teams are being called into action to crunch massive data available and build the best business spending models on trusted data for decision-makers to prepare contingency plans quickly. This is the place where enterprises are using AI, ML, and natural language processing to mine massive data and build predictive or prescriptive models.
System of Insight Market Trends
This section covers the major market trends shaping the System of Insights Market according to our research experts:
Retail and e-Commerce Segment to Grow Significantly
- Owing to the rising demand for consumer goods and growth in e-commerce, the retail sector is witnessing significant growth in its sales. This has given rise to the data generated in the industry, with the implementation of big data solutions. Further, increasing competition in the industry has encouraged players to ensure efficient working across various stages in the delivery.
- According to the Booz Allen report, a significant portion of the retailers loses over one-third of the money invested in trade promotions, mainly due to the inability of decision-makers to measure ROI, trade promotion effectiveness, and profitably optimize spend by leveraging data. Predictive and prescriptive analytics can harness large amounts of real-time unstructured and structured data from several markets and consumer touchpoints and transform it into actionable recommendations to help run the right trade promotions.
- Moreover, Customer Identification and Retention, Inventory Planning and Risk Mitigation, Personalized Customer Service are some of the applications in the retail industry, that generate a significant amounts of data and require advanced predictive and prescriptive analytics to excel. US-based Prism Skylabs offers solutions for retail outlets that use the data from their existing surveillance cameras and use predictive analytics to enhance merchandising, store design, and inventory management.
Asia-Pacific Region is Expected to Witness a Fastest Growth
- According to recent data from the Indian Ministry of Micro, Small and Medium Enterprises, India has 50 million MSMEs, which makes it among the world’s largest MSMEs. Given the fact that government and MSMEs are relying on scalable IT systems & solutions, it is understandable that they shift their processes along with sensitive information on to the cloud.
- Yatra Online, Inc., one of India's leading online travel companies, and Chrome River Technologies, Inc. a leading provider of expense management and supplier invoice processing software, made an agreement to deliver streamlined, integrated expense automation solutions for companies based out of India.
- Asia-pacific is also a hub for manufacturing. The region is one of the biggest exporters of products and services. Also, the BFSI sector is also growing in the region. Hence growth in these sectors will thrive the market for streaming analytics too. Chubb, world’s largest publicly traded property, and casualty insurance company, has established a small commercial division in the Asia Pacific dedicated to the risk management needs of Small, Medium Enterprises (SMEs).
System of Insight Industry Overview
The system of insights market is fragmented with the presence of many established players and continuous emerging companies offering similar solutions in the market. For gain in the market share, new entrants have been pitching new areas of applications, whereas the established players, along with new developments, have been actively making strategic mergers and acquisitions. Some of the recent developments are mentioned below.
- February 2020 - IBM Corporation has announced to partner with US-based digital entertainment, e-commerce, and media solutions provider - BUCKiTDREAM. This partnership is aimed at providing its products with IBM Watson's marketing for improved personalization brand engagement experienced for its customers. As part of this agreement, IBM will be analyzing customer data patterns, to get actionable insights to drive commerce conversions.
System of Insight Market Leaders
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IBM Corporation
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Oracle Corporation
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SAS Institute Inc.
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TIBCO Software Inc.
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GoodData Corporation
*Disclaimer: Major Players sorted in no particular order
System of Insight Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions and Market Definition
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
- 4.1 Market Overview
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4.2 Market Drivers
- 4.2.1 Increasing Volume of Big Data and Growing Need of Analytics
- 4.2.2 Increasing Focus on Real-Time Insights to Gain a Competitive Edge in the Market
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4.3 Market Restraints
- 4.3.1 Lack of Integration With Legacy Architecture
- 4.3.2 Increasing Market Competition
- 4.4 Industry Value Chain Analysis
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4.5 Industry Attractiveness - Porters Five Forces' Analysis
- 4.5.1 Threat of New Entrants
- 4.5.2 Bargaining Power of Buyers/Consumers
- 4.5.3 Bargaining Power of Suppliers
- 4.5.4 Threat of Substitute Products
- 4.5.5 Intensity of Competitive Rivalry
- 4.6 Assessment on the Impact of COVID-19 on the market
5. EMERGING TECHNOLOGY TRENDS SNAPSHOT
6. MARKET SEGMENTATION
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6.1 By Deployment Mode
- 6.1.1 On-Premise
- 6.1.2 Cloud
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6.2 By Application
- 6.2.1 Customer Analytics
- 6.2.2 Sales and Marketing Management
- 6.2.3 Operations Management
- 6.2.4 Workforce Management
- 6.2.5 Other Applications
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6.3 By End-user Industry
- 6.3.1 BFSI
- 6.3.2 Retail and Ecommerce
- 6.3.3 Healthcare and Life Sciences
- 6.3.4 Telecommunications and IT
- 6.3.5 Other End-user Industries (Government and Defense, Manufacturing)
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6.4 Geography
- 6.4.1 North America
- 6.4.2 Europe
- 6.4.3 Asia-Pacific
- 6.4.4 Rest of the World
7. COMPETITIVE LANDSCAPE
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7.1 Company Profiles*
- 7.1.1 IBM Corporation
- 7.1.2 Oracle Corporation
- 7.1.3 SAS Institute Inc.
- 7.1.4 SAP SE
- 7.1.5 TIBCO Software Inc.
- 7.1.6 GoodData Corporation
- 7.1.7 Plutora Inc,
- 7.1.8 NGDATA SA
- 7.1.9 CoolaData Limited
- 7.1.10 Striim Inc.
- 7.1.11 Signals Analytics Limited
- 7.1.12 Splunk Inc.
- 7.1.13 INETCO Systems Limited
8. INVESTMENT ANALYSIS
9. MARKET OPPORTUNITIES AND FUTURE TRENDS
** Subject To AvailablitySystem of Insight Industry Segmentation
The study of the System of Insights Market has considered the varied solutions offered by the vendors in the market of both cloud-based as well as on-premise solutions for a wide range of applications across the industry verticals, globally.
| By Deployment Mode | On-Premise |
| Cloud | |
| By Application | Customer Analytics |
| Sales and Marketing Management | |
| Operations Management | |
| Workforce Management | |
| Other Applications | |
| By End-user Industry | BFSI |
| Retail and Ecommerce | |
| Healthcare and Life Sciences | |
| Telecommunications and IT | |
| Other End-user Industries (Government and Defense, Manufacturing) | |
| Geography | North America |
| Europe | |
| Asia-Pacific | |
| Rest of the World |
System of Insight Market Research FAQs
What is the current System of Insights Market size?
The System of Insights Market is projected to register a CAGR of less than 19.73% during the forecast period (2024-2029)
Who are the key players in System of Insights Market?
IBM Corporation, Oracle Corporation, SAS Institute Inc., TIBCO Software Inc. and GoodData Corporation are the major companies operating in the System of Insights Market.
Which is the fastest growing region in System of Insights Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in System of Insights Market?
In 2024, the North America accounts for the largest market share in System of Insights Market.
What years does this System of Insights Market cover?
The report covers the System of Insights Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the System of Insights Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
System of Insights Industry Report
Statistics for the 2024 System of Insights market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. System of Insights analysis includes a market forecast outlook 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
