North America System of Insight Market Drivers and Forecasts by 2027

The North America system of insight market is expected to grow from US$ 577.08 million in 2019 to US$ 1,865.81 million by 2027; it is estimated to grow at a CAGR of 16.0% from 2020 to 2027.

The US, Canada, and Mexico are the major economies in North America that highly invest in advanced technologies, which makes the region a competitive market for various companies. North America is one of the technologically advanced regions in the world owing to the factors such as early adoption of technologies, investment of government in new advancements, and strong economic growth. Digitization is touching every aspect of lives and the region is swiftly transforming with the implementation of cloud computing, mobile technology, social media, and advances in analytics. In the digital transformation era, various technologies and solutions are implemented in North America to support the rapid and accelerating change. System of insight solution is highly implemented in the region, which utilizes the recent advances in analytics and indicates how enterprise decision making plays an important role.  
 

In North America, the US has witnessed an unprecedented rise in number of COVID-19 cases, which has led to the discontinuation of the IT software development activities. The downfall of the media and technology development sector has negatively impacted the demand for system of insight during the early months of 2020. Moreover, decline in overall telecommunication activities has led to the discontinuation of the system of insight projects. Similar trend has been witnessed in other North American countries, i.e., Mexico and Canada. However, the countries are likely to overcome these adversities with the economic activities regaining their pace, especially in the beginning of 2021.

With the new advancements and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the North America system of insight market. Over the past few years, big data analytics has been a major research interest among practitioners and researchers. The private and public investment in the application of big data analytics has surged up to billion dollars around the world. A swift growth in data volume and its complexity due to rising mobile data traffic, cloud-computing traffic, and increasing development, adoption of technologies, such as Artificial Intelligence (AI) and IoT are propelling the big data analytics technology. This technology has an enormous potential to transform the business completely. Big data platforms enable effective analytics of huge structured and unstructured data sets. BFSI industry is one of the biggest industries that spend a significant amount on big data and analytics technology. The industry is one of the huge consumers of big data and analytics technologies. Potential region such as North America are highly active in implementing these technologies; also, the governments of these regions are executing various projects to implement big data into various industries.

North America System of Insight Market Segmentation

North America System of Insight Market – By Component

• Solution
• Services

North America System of Insight Market – By Application

• Customer Analytics
• Workforce Management
• Operations Management
• Sales and Marketing Management
• Risk and Compliance Management
• Other Applications

North America System of Insight Market – By Industry

• BFSI
• IT and Telecom
• Manufacturing
• Retail and E-commerce
• Government and Defense
• Healthcare and Life Sciences
• Other Industries

North America System of Insight Market – By Country

• US
• Canada
• Mexico

North America System of Insight Report Scope