Global $2.1 Bn Insight Engines Market 2018-2023 by Component, Application, Insight Type, Deployment Type, Organization Size, Industry Vertical, and Region

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The insight engines market is expected to grow from USD 735.2 Million in 2018 to USD 2,197.4 Million by 2023, at a Compound Annual Growth Rate (CAGR) of 24.5% during the forecast period.

The insight engines market is gaining traction, owing to an increased need for sustaining improved strategic risk management, evolving regulations and compliance deadlines for business data security, and the need for advanced search and access for in-depth insights. Other major factors, such as rising significance of Artificial Intelligence (AI) technology for data analysis, and predictive insights for businesses, are expected to drive the global market in the future.

Various organizations operating in different industry verticals have been developing an interest in in-depth analysis of customer data for making informed decisions by deploying the insight engines component. The report provides detailed insights into the global insight engines market. It is segmented by component, application, deployment type, insight type, organization size, industry vertical, and region. By component, the market is divided into tools and services. The tools segment would be witnessing the larger market share as compared to the services segment, and would see maturation in the future due to its higher adoption. As a result, the professional services segment is expected to gain traction in the next 5 years.

Among applications, the Customer Experience Management segment is expected to dominate the market during the forecast period. Insight engines empower organizations to use historical and real-time customer data to identify patterns and trends, devise retention strategies, and reduce the customer churn rate. This would help companies enhance their customer experience. The cloud deployment type is expected to grow at a higher CAGR during the forecast period. Cloud-based solutions are gaining a firm hold in the market due to various benefits, such as cost control, resource pooling, and less implementation time.

Insight engines solutions witness an increasing demand across industry verticals, such as Banking, Financial Services, and Insurance (BFSI); retail and eCommerce; IT and telecom; and healthcare. With the largest market size, the BFSI industry vertical is expected to dominate the market during the forecast period, due to the growing importance of insight engines to enhance the customer satisfaction, increase the retention rate, and reduce the customer churn rate. The media and entertainment industry vertical is expected to grow at the highest CAGR during the forecast period, due to the growing application of insight engines to gather market intelligence, enhance business processes and risk management, and improve CEM.

The large enterprises segment is expected to dominate the market in terms of market size, as large enterprises are keenly focusing on CEM to improve customer loyalty. However, the Small and Medium-sized Enterprises (SMEs) segment is expected to grow at a higher CAGR, owing to the easy availability and scalability of cloud-based deployments.

Key Topics Covered:

1 Introduction

2 Research Methodology
2.1 Research Data
2.1.1 Secondary Data
2.1.2 Primary Data
2.1.2.1 Breakdown of Primaries
2.1.2.2 Key Industry Insights
2.2 Market Size Estimation
2.3 Research Assumptions
2.4 Limitations

3 Executive Summary

4 Premium Insights
4.1 Attractive Market Opportunities in the Insight Engines Market
4.2 Market Share Across Various Regions
4.3 Market By Industry Vertical and Region

5 Market Overview
5.1 Market Overview
5.1.1 Introduction
5.1.2 Drivers
5.1.2.1 Need for Sustaining Improved Strategic Risk Management
5.1.2.2 Evolving Regulations and Compliance Deadlines for Business Data Security
5.1.2.3 Need for Advanced Search and Natural Access for In-Depth Analysis
5.1.3 Restraints
5.1.3.1 Data Quality and Data Sources Validation Issues
5.1.4 Opportunities
5.1.4.1 Rising Significance of AI Technologies for Data Insights
5.1.4.2 Predictive Insights for Businesses
5.1.5 Challenges
5.1.5.1 Data Security and Privacy Concerns
5.1.5.2 Lack of Trained and Skilled Personnel
5.2 Technology Building Blocks
5.2.1 Machine Learning
5.2.2 Natural Language Processing
5.3 Features/Functionalities
5.3.1 Emotion Detection
5.3.2 Speech-To-Text Transcription
5.3.3 Phonetic Indexing
5.4 Insight Engines: Use Cases
5.4.1 Use Case #1: Providing Access to Information Across Locations
5.4.2 Use Case #2: Improving Search Experience
5.4.3 Use Case #3: Enhancing Customer Experience

6 Insight Engines Market, By Component
6.1 Introduction
6.2 Tools
6.3 Services
6.4 Managed Services
6.5 Professional Services
6.5.1 Consulting Services
6.5.2 Support and Maintenance
6.5.3 Deployment and Integration

7 Insight Engines Market, By Application
7.1 Introduction
7.2 Customer Experience Management
7.3 Workforce Management
7.4 Operations Management
7.5 Sales and Marketing Management
7.6 Risk and Compliance Management
7.7 Others

8 Market By Insight Type
8.1 Introduction
8.2 Predictive Insights
8.3 Prescriptive Insights
8.4 Descriptive Insights

9 Market By Deployment Type
9.1 Introduction
9.2 Cloud
9.3 On-Premises

10 Insight Engines Market, By Organization Size
10.1 Introduction
10.2 Small and Medium-Sized Enterprises
10.3 Large Enterprises

11 Market By Industry Vertical
11.1 Introduction
11.2 Banking, Financial Services, and Insurance
11.3 Telecom and IT
11.4 Retail and Ecommerce
11.5 Healthcare
11.6 Manufacturing
11.7 Government
11.8 Media and Entertainment
11.9 Others

12 Insight Engines Market, By Region

13 Competitive Landscape
13.1 Overview
13.2 Prominent Players in the Insight Engines Market
13.3 Competitive Scenario
13.3.1 New Product Launches and Product Upgradations
13.3.2 Partnerships, Collaborations, and Agreements
13.3.3 Mergers and Acquisitions
13.3.4 Business Expansions

14 Company Profiles

  • IBM
  • Microsoft
  • Oracle
  • Attivio
  • Sinequa
  • Coveo
  • Celonis
  • Funnelback
  • Intrafind
  • Lucidworks
  • Insight Engines
  • Mindbreeze
  • Squirro
  • HPE
  • Expert System
  • Dassault Systmes
  • Veritone
  • Smartlogic
  • Ba Insight
  • Forwardlane
  • Cognitivescale
  • Comintelli
  • Activeviam
  • Lattice Engines
  • Prevedere

For more information about this report visit https://www.researchandmarkets.com/research/lsjpdk/global_2_1_bn?w=5

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SOURCE Research and Markets

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Maria Burns

Maria Burns

Maria is a Viral News Editor who graduated from the University Of California. She likes social media trends, being semi-healthy, Buffalo Wild Wings and vodka with lime. When she isn’t writing, Maria loves to travel. She last went to Thailand to play with elephants and is planning a trip to Bali.
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