Industry Background:
Insight as a Service refers to a cloud-based service that provides insights to business corporations and also aids in providing the concrete steps that are required to leverage these insights towards achieving business goals. These services use predictive analytics and business intelligence to glean effective actions from data warehouses. As per a survey, by 2021, most of the companies are expected to be directing close to 15% of their IT investments towards Insights-as-a-service and other cloud-based offerings. The companies are expected to increase to 35% of their overall investment in insight as a service. The global insight as a service market is driven by the need for businesses to scale up a large amount of statistical data and gain insights in order to figure out future steps that need to be taken by the businesses. The need for customer lifecycle management by organizations to retain customers also drives insight as a service demand worldwide
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
High Growth Market | Asia Pacific |
Unit | Value (USD Million) |
Key Companies Profiled | Oracle Corporation (United States), Accenture Plc (Ireland), IBM Corporation (United States), Deloitte Touche Tohmatsu Limited, Capgemini SE (France), Dell EMC (United States), NTT Data Corporation (United States), GoodData Corporation, SmartFocus (United Kingdom) and Zephyr Health (United States) |
According to AMA, the market for Insight as a Service is expected to register a CAGR of 24.91% during the forecast period to 2030. This growth is primarily driven by Need For Businesses To Increase It Expenditure And Better Customer Life Cycle Management., Growth Of Big Data Adoption and Optimize Supply Chain Functions And Minimize The Gaps To Manage Market Pressures.
Globally, a noticeable market trend is evident Emergence of Internet of Things (IoT) The Business Services sector in the North America region has been increasing at a sustainable rate, and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Players, such as Oracle Corporation (United States), Accenture Plc (Ireland), IBM Corporation (United States), Deloitte Touche Tohmatsu Limited, Capgemini SE (France), Dell EMC (United States), NTT Data Corporation (United States), GoodData Corporation, SmartFocus (United Kingdom) and Zephyr Health (United States), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years. Key players are adopting numerous strategies to gain market attention and to increase their market share, this strategy can be listed as increasing product portfolio, making partnerships to adopt certain technologies, and acquiring small players to finish the competition in the future. As well as investing money in the R&D sector to make technical upgrades to the product.
Key Developments in the Market:
On June 8, 2023, Insight Enterprises launched a new Generative AI service offering. This service is designed to help clients unlock the potential of generative AI to drive business value.
In June 2020, PTC collaborated with Rockwell Automation, Inc. to provide Factory Insights as a Service, a turnkey cloud solution. This solution enables manufacturers such as Rockwell Automation to achieve unprecedented impact, speed, and scale with their digital transformation initiative.
Influencing Trend:
Emergence of Internet of Things (IoT)
Market Growth Drivers:
Need For Businesses To Increase It Expenditure And Better Customer Life Cycle Management., Growth Of Big Data Adoption and Optimize Supply Chain Functions And Minimize The Gaps To Manage Market Pressures
Challenges:
Lack Of Knowledge Among The End Users
Restraints:
Data Security Concern
Opportunities:
Small & Medium-sized Enterprises Moving Towards Adopting Cloud Based Insights As A Services, Growing Demand for Business Process Improvement Services and Increasing competition in various sectors is contributing towards the market growth
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Players landscape impacting the growth of the market. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints in Insight as a Service Market
- Analysis about New Entrants in Insight as a Service Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
- An Unbiased Perspective towards Market Performance & Indicators
Against this Challenging Backdrop, Insight as a Service Study Sheds Light on
The Insight as a Service Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Insight as a Service industry Players. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Insight as a Service industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Players can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.