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
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
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
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
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.
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System of Insight Market: Strategic Insights
Market Size Value in US$ 1,537.86 Million in 2019 Market Size Value by US$ 4,914.52 Million by 2027 Growth rate CAGR of 15.9% from 2020-2027 Forecast Period 2020-2027 Base Year 2020
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Customize Research To Suit Your Requirement
We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.
System of Insight Market: Strategic Insights
| Market Size Value in | US$ 1,537.86 Million in 2019 |
| Market Size Value by | US$ 4,914.52 Million by 2027 |
| Growth rate | CAGR of 15.9% from 2020-2027 |
| Forecast Period | 2020-2027 |
| Base Year | 2020 |
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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.
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Component , Application , and Industry
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States
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
- GoodData Corporation
- INETCO Systems Limited
- Medallia Inc.
- NGDATA, Inc.
- Oracle Corporation
- Plutora, Inc.
- SAP SE
- SAS Institute Inc.
- Signals Analytics, Inc.
- TIBCO Software Inc.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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