Insight as a Service Application Market Size, Development Status, Major Manufacturers and Forecast: 2022-2031
Japan, Japan, Monday, March 14, 2022 09:02:43 / Comserve Inc. / — Insight as a Service Application Market offers an overview of leading companies encompassing their successful marketing strategies, market contribution, recent developments in historical contexts and current.
The Insight as a Service application market is expected to register a CAGR of 23% over the forecast period. The Insight as a Service application provides action plans, and it is similar to cloud-based services, which provide insights to businesses and also help organizations with insights to achieve their business goals. SaaS offerings provide analytics as well as insights. SMBs are massively adopting insight as a service due to various advantages of insight as a service such as immediate response, quick decision making, customer satisfaction, etc.
– The major factor responsible for the growth of insight as a service application market is the increase in IOT and big data analytics along with the growing need for client management. Companies are able to obtain information about their customers in order to sell their products and services using Big Data.
– Many small and medium businesses are adopting cloud-based information as a service due to benefits such as improved decision-making and rapid response, customer satisfaction, which results in faster revenue growth. income, thus energizing the market.
– Data security, security issues, and difficulty in data integration are hampering the growth of this market.
Insight as a service application is a cloud-based service that provides information to various business companies and also helps in providing actionable steps needed to leverage this information to achieve business goals. To stay ahead of the market and have real-time information on the functioning of the business and its stakeholders, the market segment has witnessed a rising demand.
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Main market trends
BFSI is expected to experience significant growth
– The BFSI sector is expected to experience significant growth for this market. Due to new digital technologies, rapidly changing customer expectations and the emergence of nimble competitors, it is becoming increasingly difficult for banks to attract, retain and sell today’s digital customers. today.
– Customer intelligence and analytics for banking enables retail banks to create exceptional customer experiences that drive loyalty, differentiation and growth. Banks can attract and acquire new customers, retain and sell more to current customers and market segments, and reduce operational costs.
– For example, TCS’s Customer Intelligence & Insights (CI&I) for Banking helps retail banks move from a product-centric to a customer-centric business, while operating leaner and smarter. IT company Mindtree aims to help banks and financial institutions better interact with customers and users.
Asia-Pacific is expected to see significant growth
– Asia-Pacific is expected to witness significant growth over the forecast period and is expected to lead the insight applications market as a service over the forecast period. The growing internet penetration coupled with the development of technology in various economies including China, India, and South Korea can be attributed to the high growth in this region.
– This region is expected to grow at a higher rate in the near future owing to significant investments being made in data analytics services to improve customer experience and streamline business operations. Various industry verticals across the region are rapidly maturing in their abilities to leverage Insights-as-a-Service technology. Data-driven industries belonging to this region, such as BFSI, retail and consumer goods, media and communications, and services (including internet companies) are leading in adoption and capitalization of their data assets.
– Countries like Japan, China, and India are advancing due to improving economy, which will support the growth of the regional market. Furthermore, the rampant industrialization in the region is acting as a vital driver for the growth of the market in the region. There is an increase in ICT expenditure by the government in this region, which opens up more opportunities for the market.
The Insight as a Service application market is fragmented and a highly competitive market. Since solutions require close collaboration and knowledge sharing, suppliers with better supply chain knowledge and connections tend to take advantage over other competitors. Many collaborations take place in the market, leading to product innovations.
– February 2019 – Accenture PLC has partnered with Splice Machine. The company has taken a minority stake in data platform provider Splice Machine, and the partnership targets large-scale data transformation projects.
– October 2018 – Oracle Corporation began providing Trifecta of Retail insight with a new cloud service. Oracle Retail has combined three cloud services into a new suite of Oracle Retail Insights cloud services. The suite of cloud services provided by the company provides descriptive, prescriptive and predictive analytics to the retail business.
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1.1 Study deliverables
1.2 Assumptions of the study
1.3 Scope of the study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Introduction to Market Drivers and Restraints
4.3 Market Drivers
4.3.1 Increase in Adoption of Big Data and IoT
4.3.2 Increase customer engagement
4.4 Market Constraints
4.4.1 Security and Data Safety Issues
4.5 Industry Value Chain Analysis
4.6 Industry Attractiveness – Porter’s Five Forces Analysis
4.6.1 Threat of new entrants
4.6.2 Bargaining power of buyers/consumers
4.6.3 Bargaining power of suppliers
4.6.4 Threat of Substitute Products
4.6.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
5.1 By deployment mode
5.1.1 Public cloud
5.1.2 Private cloud
5.1.3 Hybrid cloud
5.2 By End-User Industry
5.2.2 IT & Telecom
5.2.6 Other end user industries
5.3.1 North America
5.3.4 Latin America
5.3.5 Middle East and Africa
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Oracle Corporation
6.1.2 Accenture APIs
6.1.3 IBM Corporation
6.1.5 Deloitte Touche Tohmatsu Limited
6.1.6 Good Data Corporation
6.1.7 Capgemini SE
6.1.8 Limited SmartFocus
6.1.9 Zephyr Health Inc.
6.1.10 NTT Data Company
7 INVESTMENT ANALYSIS
8 MARKET OPPORTUNITIES AND FUTURE TRENDS
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