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Global insights as a service market is estimated to grow with a CAGR of 23.5% during the forecast period 2016-2023. Insights as a service is a web based service that assists the business’ in-house IT architecture. It accumulates data and refines it. As a service, it allows businesses to take advantage of the stored data on demand at the global level. Insights as a service can be considered as a sub segment of predictive analytics. It ensures connectivity with multiple data sources and provides numerous types of data to users such as, publicly available data, competitive data, comparative data, anonymized data. Global insights as a service market is primarily driven by following factors:
Increasing trend of big data analytics and growth of Internet of things market are the key drivers of the global insights as a service market, along with increasing market competition and increasing need for customer management. Insights drives a business and brings in a new era in which the speed and manner of interaction with employees, customers, markets and partners separate the exceptional from an ordinary one. Furthermore, growing trend of cloud computing and specialized insights as a service market are providing futuristic opportunities for the growth of the global insights as a service market. According to the euro statistics, significant growth of 21% has been observed in European Union enterprises which used cloud computing specially to host email systems and to store files. In 2016, around 15% firms used public cloud servers and around 8% private cloud servers which increased by 21% since 2014. However, there are certain factors that are holding back the growth of the market such as, data safety and security concerns. Furthermore, difficulty in data integration is the major challenge in the growth of the market. The rapid growth in demand for customer satisfaction with faster and better support with the help of data insights and its efficient and reliable integration are some of the other drivers making an impact on services market.
Source: OBRC Analysis
The global insights as a service market is segmented by type, deployment, organization size, application and end user. Product is further sub segmented into:
Deployment is sub segmented into:
Organization size is sub segmented into:
Application is sub segmented into:
End user is sub segmented into:
The revenue for the above industrial end users are specific to the insights as a service market. However, the total revenue of these end-user in general has been excluded from the scope of the report. Also, the total market revenue has been calculated by summing up products, deployments, organization size and application segment.
Geographically, the global insights as a service market has been segmented into:
Geographically, insights as a service market is bifurcated into North America, Europe, Asia Pacific and Rest of the World. North America is estimated to account for major share in the global market. Well established IOT and big data analytics market are the major factors that are backing the growth of the market. Furthermore, high penetration rate into various verticals, increasing demand for business agility and flexibility are also driving the growth of the market in the region. Asia Pacific is anticipated to be the fastest growing region during the forecast period. Increasing cloud computing technology market in the Asia Pacific region and large investment by the key players in the data insights services in the region is driving the growth of the market.
Global insights as a service market is segmented on the basis of the deployment, organization size, applications and end-users. On the basis of the deployment, the global insights as a service market is divided into public cloud deployment, private cloud deployment and hybrid deployment. Public cloud holds the major share in the market owing to its high scalability, flexibility and reliability. On the basis of the organization size, the market is further divided into large enterprises and small & medium based enterprises. Small and medium enterprises are anticipated to be the fastest growing segment during the forecast period. SMEs are heavily adopting insights as a service owing to various advantages of insights as a service such as immediate response, fast decision making, customer satisfaction etc. On the basis of type, the market is further bifurcated into predictive, descriptive and prescriptive. Descriptive insights are estimated to be the leading and fastest growing segment during the forecast period due to high adoption rate of these services owing to its ability to analyze the past performance to provide key insights for future plans. On the basis of the applications, the global insights as a service market is further segmented into revenue cycle management, customer life cycle management, branding and marketing management, supply chain management, strategic management and governance, risk and compliance management. Customer life cycle management is anticipated to be the fastest growing segment during the forecast period. And on the basis of the end-user, the market is further bifurcated into banking, financial services and insurance, retail and consumer goods, healthcare and life science, energy and utilities, IT and telecommunication, manufacturing, government and public sector and others. Retail and consumer goods are estimated to be the fastest growing segment during the forecast period.
The major market players of the global insights as a service market are:
Detailed analysis of these companies provided in this report comprises overview, SCOT analysis, product portfolio, strategic initiative and strategic analysis.
These companies use various strategies such as merger & acquisition, collaboration, partnership and product launching. Example: In 2016, Software giant Oracle announced the acquisition of energy software company Opower with the deal of $532 million with the sole purpose of expansion in the energy and utility vertical. Integration with Oracle’s current utilities operation suite and cloud based services for gas, water and electricity providers, the companies will become the largest player as a provider to the $2.3 trillion utilities industries.
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At Occam’s we provide an extensive portfolio which is comprehensive market analysis along with the market size, market share, and market segmentations. Our report on global insights as a service market offers the longest chain of market segmentation covering major market segmentation based on type, deployment, organization size, application and end user. The report tracks the major market trends in the global insights as a service market such a rising adoption of cloud technology due to the benefits it provides. For each market segments covered in global insights as a service market report, we provide opportunity matrix, and DROC analysis, that enable the clear growth assessment across each market segment. The report discusses competitive landscape of the insights as a service industry, with giving extensive strategy analysis of more than 15 companies. Moreover, the report discusses various models such as 360-degree analysis, See Saw analysis, and Porter five force model and so on. For the high-level analysis in the report we provide a comparative analysis of historic and current year data.
Key findings of the global insights as a service market.