Overview and Scope
Systems of Insight (SoI) refer to platforms or approaches that enable organizations to collect, analyze, and derive meaningful insights from various data sources in real-time or near real-time. These insights are used to inform decision-making, improve operational efficiency, enhance customer experiences, and drive business outcomes.
Sizing and Forecast
The system of insight market size has grown exponentially in recent years. It will grow from $2.54 billion in 2023 to $3.07 billion in 2024 at a compound annual growth rate (CAGR) of 20.8%. The growth in the historic period can be attributed to increasing adoption of big data analytics across industries, growing demand for real-time data analytics, rising need for predictive and prescriptive analytics, expansion of iot devices and data, and emergence of AI and machine learning technologies.
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Segmentation & Regional Insights
The system of insight market covered in this report is segmented –
1) By Component: Solutions, Services
2) By Deployment Model: On-Premise, Cloud
3) By Application: Customer Analytics, Sales And Marketing Management, Operations Management, Workforce Management, Other Applications
4) By End-User Industry: Banking, Financial Services And Insurance (BFSI), Retail And Ecommerce, Healthcare And Life Sciences, Telecommunications And Information Technology (IT), Manufacturing, Other End-User Industries
North America was the largest region in the sight of insight market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the system of insight market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The expansion of e-commerce is expected to propel the growth of the system of insight market going forward. E-commerce refers to the buying and selling of goods and services over the Internet. Insight-driven e-commerce platforms can offer personalized experiences to customers based on their browsing history, purchase behavior, and demographics. For instance, according to the United States Census Bureau, a US-based Department of Commerce, U.S. retail e-commerce reached $271.7 billion in the third quarter of 2023. Further, this reflects a slight 0.9% increase from the $269.3 billion in sales during Q2 2023, and on an annual basis, e-commerce sales expanded much faster in quarter 3 2023 with a 7.8% boost versus quarter 3 2022. Therefore, the expansion of e-commerce is driving the system of insight market.
Key Industry Players
Major companies operating in the system of insight market report are Accenture plc, IBM Corporation, Oracle Corporation, KPMG International Limited, SAP SE, Tata Consultancy Services, Capgemini SE, Wipro, Genpact, Splunk Inc., SAS Institute, Medallia Inc., TIBCO Software Inc., GoodData Corporation, Panorama, Striim Inc., Formtek Inc., INETCO Systems Ltd., Plutora Inc., NGDATA, CoolaData, Correlata Solutions Ltd., Radicalbit, Signals Analytics, Streamlio Inc.
The system of insight market report table of contents includes:
1. Executive Summary
- System Of Insight Market Characteristics
- System Of Insight Market Trends And Strategies
- System Of Insight Market – Macro Economic Scenario
- Global System Of Insight Market Size and Growth
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32. Global System Of Insight Market Competitive Benchmarking - Global System Of Insight Market Competitive Dashboard
- Key Mergers And Acquisitions In The System Of Insight Market
- System Of Insight Market Future Outlook and Potential Analysis
- Appendix
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