System of Insight Market Forecast to 2027 - COVID-19 Impact and Global Analysis By Component (Solution and Services), Application (Customer Analytics, Workforce Management, Operations Management, Sales & Marketing Management, Risk & Compliance Management, and Other Applications), and Industry (BFSI, IT & Telecom, Manufacturing, Retail & E-Commerce, Government & Defense, Healthcare & Life Sciences, and Other Industries)
Publication Month: Jan 2021 | Report Code: TIPRE00006455 | No. of Pages: 173 | Category: Technology, Media and Telecommunications | Status: Published
The system of insight market was valued at US$ 1,537.86 million in 2019 and it is projected to reach US$ 4,914.52 million by 2027; it is expected to grow at a CAGR of 15.9% from 2020 to 2027.
The solution for system of insight streamlines collecting, mining, organizing, transforming, consuming, and analyzing various sets of data with statistical modeling tools to deliver various functions, such as detecting patterns, predicting outcomes, and delivering actionable insight. It needs a cross-functional model for analyzing the data from systems of record and systems of engagement. The system of insight solution enables companies to deploy advanced analytic technologies to the data far beyond the traditional ways where data from systems of record and systems of engagement were analyzed separately for retroactive decision-making. The system of insight supports digital businesses in real-time, descriptive, predictive, prescriptive, and cognitive analytics. Execution of this system would help businesses gain a competitive advantage by implementing features, such as data integration, data visualization effectiveness, effective user interface, and customized applications.
Impact of COVID-19 Pandemic on Global System of Insight Market
The COVID-19 pandemic has affected various industries across the globe, including the software industry, directly affecting IT and tech spending. The business shutdowns as well as cancellations and postponement of product launches across the globe have impacted the adoption of the system of insight market in 2020. However, while the market experienced fluctuations due to nationwide shutdowns in several countries and stay-at-home orders, the disruption has caused an increase in remote working. The software industry, which is considered a structural winner, has given greater digital capabilities to all industries.
Lucrative Regional Markets for System of Insight Providers
Get more information on this report :
System of Insight Market Insights
Rising Significance of Cloud Technology Fuels Growth of System of Insight Market
APAC is considered the fastest-growing region, with China and India being the fastest-growing economies in the world in terms of GDP and technology adoption. Additionally, Japan is the most technologically advanced country in the region, allowing the development of the software and technology industry. Besides, growing economies of Southeast Asia, such as Vietnam, Malaysia, and Indonesia, are experiencing a growth in BFSI and retail sectors, which would demand for system of insight solutions and services. Governments across the region are investing in advanced technologies as they are used in almost all industrial applications. In India, disruptive technologies, such as social media, cloud computing, and data analytics, provide new opportunities for growth across verticals. Also, in 2020, the social, mobility, analytics, cloud market grew by US$ 225 billion. Thus, owing to rising focus on various crucial technologies in the region, the system of insight market in APAC is expected to expand rapidly during the forecast period.
Component-Based Market Insights
Based on component, the system of insight market is segmented into solution and services. System of insight solutions perform various functions for organizations, such as gathering data for business analytics to achieve new insights, initiating better business decisions, and optimizing the decision-making process with analysis of collected data in several ways. Businesses use systems of insight solutions and services to remain operational in efficient and profitable ways to differentiate themselves from their competitors. The solution segment held the largest market share in 2019. The services segment is anticipated to grow at the highest CAGR during the forecast period.
System of Insight Market, by Component – 2019 and 2027
Get more information on this report :
Application-Based Market Insights
Based on application, the system of insight market is segmented into customer analytics, workforce management, operations management, sales & marketing management, risk & compliance management, and others. The customer analytics segment holds the largest market share in 2019. The operations management segment is anticipated to grow at the highest CAGR during the forecast period.
Industry-Based Market Insights
Based on the industry, the market is segmented into BFSI, IT & telecom, manufacturing, retail & e-commerce, government & defense, healthcare & life sciences, and others. The BFSI segment held the largest market share in 2019, and it is anticipated to grow at the highest CAGR during the forecast period.
Strategic Insights
The players operating in the system of insight market focus on strategies, such as mergers, acquisitions, and market initiatives, to maintain their positions in the market. A few developments by key players are listed below:
- In April 2020, Medallia Inc. launched the Medallia insights suite, which is a powerful combination of modern tools for insight leaders across agencies. The insight suite supports growing video communication and crowdsourcing adoption to drive growth and revenue at pace.
- In December 2020, PT. ALTO Network collaborated with INETCO Systems Limited to secure Indonesia’s national payment gateway. PT. ALTO Network has chosen the INETCO insight software to deliver high-quality performance and security monitoring. The ALTO fraud risk team relies on INETCO insight to identify and analyze transaction level payment fraud attacks in milliseconds to avoid major financial loss.
The global system of insight market has been segmented as follows:
System of Insight Market – by Component
- Solution
- Services
System of Insight Market – by Application
- Customer Analytics
- Workforce Management
- Operations Management
- Sales & Marketing Management
- Risk & Compliance Management
- Others Applications
System of Insight Market – by Industry
- BFSI
- IT & Telecom
- Manufacturing
- Retail & E-Commerce
- Government & Defense
- Healthcare & Life Sciences
- Other Industries
System of Insight Market – by Geography
- North America
- US
- Canada
- Mexico
- Europe
- France
- Germany
- Italy
- UK
- Russia
- Rest of Europe
- Asia Pacific (APAC)
- China
- India
- South Korea
- Japan
- Australia
- Rest of APAC
- Middle East & Africa (MEA)
- South Africa
- Saudi Arabia
- UAE
- Rest of MEA
- South America (SAM)
- Brazil
- Argentina
- Rest of SAM
Company Names
- GoodData Corporation
- INETCO Systems Limited
- Medallia Inc.
- NGDATA, Inc.
- Oracle Corporation
- Plutora, Inc.
- SAP SE
- Signals Analytics, Inc.
- SAS Institute Inc.
- TIBCO Software Inc.
Frequently Asked Questions
The List of Companies - System of Insight Market
- GoodData Corporation
- INETCO Systems Limited
- Medallia Inc.
- NGDATA, Inc.
- Oracle Corporation
- Plutora, Inc.
- SAP SE
- SAS Institute Inc.
- Signals Analytics, Inc.
- TIBCO Software Inc.
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the global system of insight market
- Highlights key business priorities in order to assist companies to realign their business strategies
- The key findings and recommendations highlight crucial progressive industry trends in the global system of insight market, thereby allowing players across the value chain to develop effective long-term strategies
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
- Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution
Get the Latest COVID-19 Analysis on this market
Have a Question?
Naveen will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.
Speak to Analyst
-
$3000
-
$4550
-
$6550
-
$8550
-
Sample PDF showcases the content structure and the nature of the information included in the report which presents a qualitative and quantitative analysis.
Inquire for Discount