Competitive Intelligence Tools Market Scope
Competitive intelligence tools enable businesses to capture, analyze, and take action on its competitive landscape. Competitive intelligence data can help a variety of teams within a business, including marketing, product, sales, and senior leadership. Marketing can use these tools to glean information about their competitor’s marketing strategy, including social media strategy, digital advertising tactics, content strategy, and more. Sales can use these tools to gather information about their competitor’s pricing changes and market moves or company acquisitions, among other use cases. Competitive intelligence tools are useful for product teams because these tools can provide insight around consumer feedback, product additions, product removals etc. Finally, senior executives can use these tools to drive investments and future company strategies.
Research Analyst at AMA estimates that United States Players will contribute to the maximum growth of Global Competitive Intelligence Tools market throughout the predicted period.
Crayon (Norway), Brandwatch (United Kingdom), SimilarWeb (United States), Klue (United States), Clootrack Software Labs Private Limited (India), Contify (India), Digimind (France), Competitors App (Romania), Kompyte (United States), CI Radar (United States), Intricately (United States) and Cipher Systems LLC (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research are Quid (United States), Ceralytics (United States), CompeteIQ (United States) and Nichefire, Inc. (United States).
Segmentation Overview
The study have segmented the market of Global Competitive Intelligence Tools market and Region with country level break-up.
On the basis of geography, the market of Competitive Intelligence Tools has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Influencing Trend:
Growing Popularity of AI-enabled Competitive Intelligence Tool
Market Growth Drivers:
The Growing Competition across the Various Business Verticals, The Rising Demand for Competitive Intelligence Tools In order to Understand Competitors Strategies and Rapid Digitalization Fueling the Demand for Competitive Intelligence Tools
Restraints:
An Availability of Free Competitive Intelligence Tools
Opportunities:
Emerging Demand from Developing Countries
Market Leaders and their Expansionary Development Strategies
On 25 Feb 2020, Contify launched a brand-new mobile experience with the advanced features of its market and competitive intelligence platform.
On 9 Sept. 2020, Klue, the AI-powered competitive enablement platform, announced a USD15 million Series A funding round led by Craft Ventures with participation from HWVP, existing investors OMERS Ventures, Rhino Ventures, and BDC Ventures, and several notable angel investors including Frederic Kerrest (co-founder of Okta) and Zach Coelius (top Angelist syndicate). The investment, which brings the company's total funding to USD 19 million, will accelerate product and machine learning development and be used to meet the growing demand for competitive enablement. and On 10 Oct 2018, Cipher, a leading provider of competitive and market intelligence consulting and technology solutions, partnered with James Madison University to conduct a first-of-its-kind comprehensive analysis of the state of Competitive Intelligence (CI) within the Life Sciences industry (i.e. Pharmaceuticals, Biotechnology, and Medical Devices).
Key Target Audience
Competitive Intelligence Tools Companies, Potential Technology Investors, Regulatory & Government Bodies, Upstream & Downstream Vendors, End Users and Others
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.