System of Insight Market Opportunities, Trends & Size to 2027

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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

Lucrative Regional Markets for System of Insight Providers

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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

System of Insight Market, by Component – 2019 and 2027

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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

Report Coverage - System of Insight Market
Report CoverageDetails
Market Size Value inUS$ 1,537.86 Million in 2019
Market Size Value byUS$ 4,914.52 Million by 2027
Growth rateCAGR of 15.9% from 2020-2027
Forecast Period2020-2027
Base Year2020
No. of Pages173
No. of Tables83
No. of Charts & Figures88
Historical data availableYes
Segments coveredComponent , Application , and Industry
Regional scopeNorth America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country scopeUS, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina
Report coverageRevenue forecast, company ranking, competitive landscape, growth factors, and trends
Free Sample Copy Available

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

North America led the system of insight market in 2019. 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.
Big data analytics technology is one of the significant drivers in systems of insight market, which seeks to gain actionable insights from structured and the massive data volume available in unstructured data from various sources such as the web and social media. The insight gained from big data analysis helps businesses enhance various areas such as customer retention, discovery of new markets, optimized customer service, employee retention, and improved customer loyalty. Thus, the increasing need for big data analytics is propelling the growth of system of insights worldwide.
The solution is the leading component in the market. Systems of insight solution enhances the customer experience by influencing perception of customer with the company in numerous ways. The solution helps the business to care for high-value customers in their time of need, solve problems effectively, and disrupt the competition with unique experiences. System of insight solutions are growing at an exponential rate due to increasing focus on creating business value by applying analytics solutions; requirement for real-time actionable intelligence; and rise in demand for predictive analytics solutions.

The List of Companies - System of Insight Market

  1. GoodData Corporation
  2. INETCO Systems Limited
  3. Medallia Inc.
  4. NGDATA, Inc.
  5. Oracle Corporation
  6. Plutora, Inc.
  7. SAP SE
  8. SAS Institute Inc.
  9. Signals Analytics, Inc.
  10. 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
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