About Competitive Intelligence Software
A competitive intelligence tool enables businesses to gather and analyze information about their competition. These tools help companies understand what their competitors are doing by tracking their marketing activities, interactions, and overall performance. The best competitive intelligence software for your business will depend on your specific needs and budget. However, any competitive intelligence software can be a valuable asset for businesses of all sizes. The growth due to the increasing need for better decision-making, the growing complexity of the business environment, and the adoption of advanced technologies. By focusing on these trends, CI software vendors can develop innovative solutions that meet the evolving needs of their customers.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The players are exploring the market in new regions by adopting mergers & acquisitions, expansions, investments, new product launches and collaborations as their preferred strategies Analyst at AMA Research estimates that Global Players will contribute the maximum growth to Global Competitive Intelligence Software market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
SAS Institute Inc. (United States), Mytonomy (United States), Comintelli (Sweden), IBM (United States), Brandwatch (United Kingdom), Canalytics (United States), Buzzsumo (United States), Megaputer Intelligence Inc. (United States), Cipher Systems, Inc. (United States) and Digimind (France) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are Meltwater US News Inc. (United States), Semrush (United States), Crayon (Norway), Prisync (Istambul) and Competera (Ukraine).
Segmentation Overview
AMA Research has segmented the market of Global Competitive Intelligence Software market by Type (On-premises and Cloud-based) and Region.
On the basis of geography, the market of Competitive Intelligence Software 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). If we see Market by Organization Size, the sub-segment i.e. Large Enterprises will boost the Competitive Intelligence Software market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by End User, the sub-segment i.e. BFSI will boost the Competitive Intelligence Software market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Growing demand for social media monitoring for competitive intelligence tool
Market Growth Drivers:
Growing demand for Competitive Intelligence Software and Increasing adoption of cloud-based solutions
Challenges:
Concerns related to Cyber Security
Restraints:
Growing concern over the accuracy of the data and Cost of implementation
Opportunities:
Advancements in artificial intelligence (AI) and machine learning (ML) are making CI software more powerful and Development of new and more sophisticated competitive intelligence tools
Market Leaders and their expansionary development strategies
In October 2023, IBM announced the signing of three memoranda of understanding with three entities engaged with the Ministry of Electronics and Information Technology to advance and accelerate innovation in AI, semiconductor, and quantum technology for India. This body of work will aim to accelerate India’s comprehensive national strategy for AI, strengthen efforts to be self-reliant in semiconductors, and advance its National Quantum Mission.
In November 2023, Mytonomy Inc. launched Mytonomy Analytics Cloud powered by Sisense to bring powerful new analytics and engagement capabilities to Mytonomy’s Cloud for Healthcare platform. With the integration of Sisense’s HIPAA-compliant advanced analytics tools, healthcare providers can easily track in real-time, predict and more efficiently allocate resources where they are most needed, helping to save time and improve patient care.
Key Target Audience
Software Developer, Government & Regulatory Authorities, Research Center, Potential Investors, Market Research & Consultancy Firm and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.