Insights As A Service Market
Which drivers are expected to have the greatest impact on the over the insights-as-a-service market’s growth?
The surge in big data is projected to fuel the expansion of the insights-as-a-service market. Defined as enormously large and diverse sets of structured, fragmented, and semi-structured data, big data is growing substantially due to innovative businesses producing vast amounts of data. Insights-as-a-service provide companies with a means to derive valuable insights, recognize trends, and make informed decisions from extensive and complex data sets. As an illustration, a report by The Linux Foundation, a US-based non-profit consortium, documented that data growth for an average end-user organization touched a remarkable 2,208 terabytes in 2022, marking an increase of 215.43% or triple the 700 terabytes recorded in 2021. Therefore, the escalation in big data is acting as a catalyst for the insights-as-a-service market.
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What is the future CAGR of the insights-as-a-service market, and how will it impact industry expansion?
The market for insights-as-a-service has seen exceptional growth over the last few years. Its worth is expected to expand from $6.07 billion in 2024 to $7.53 billion in 2025, signifying a compound annual growth rate (CAGR) of 24.2%. The substantial growth during the historical period is due to the widespread adoption of technologies such as edge computing, cross-platform integration, advanced analytics, machine learning, as well as the digital transformation trend and data explosion.
The predicted expansion of the insights-as-a-service market is expected to be vast in the coming years, with estimations suggesting it will reach a value of $13.27 billion in 2029, marking a compound annual growth rate (CAGR) of 15.2%. This predicted surge over the forecast period is accredited to several factors such as an emphasis on user experience, the emergence of hybrid and multi-cloud deployments, a focus on making AI explainable, integration with IoT, and a concentration on data governance and compliance. The period is also expected to see trends such as AI-generated insights, supplemented analytics, on-the-go and streaming analysis, blockchain for maintaining data integrity, and automated data governance.
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What are the most significant trends transforming the insights-as-a-service market today?
Leading businesses in the insights-as-a-service sector are concentrating their efforts on creating innovative products such as mytonomy analytics cloud solutions to solidify their market standing. These solutions use data, statistics, simulation, and machine learning to forecast and prepare for future events or opportunities and provide practical insights and solutions for data-related challenges. For example, Mytonomy Inc., a U.S.-based company offering healthcare cloud services, unveiled its mytonomy analytics cloud propelled by Sisense in November 2023. This healthcare cloud service facilitated by Sisense introduces additional insights and interactive capacities to mytonomy’s existing cloud. It simplifies the process for healthcare providers to monitor, predict, and allocate resources to priority areas by incorporating Sisense’s Health Insurance Portability and Accountability Act (HIPAA) compliant superior analytics functionalities, leading to enhanced time efficiency and patient care improvements. The system’s real-time predictive analytics and insights are designed to aid health systems in bolstering staff productivity, smoothing processes, and making data-directed decisions for patient outreach.
Which key market segments comprise the insights-as-a-service market and drive its revenue growth?
The insights-as-a-service market covered in this report is segmented –
1) By Type: Predictive Insights, Descriptive Insights, Prescriptive Insights
2) By Deployment Type: Public Cloud, Private Cloud, Hybrid Cloud
3) By Organization Size: Large Enterprise, Small And Medium Enterprise
4) By Application: Revenue Cycle Management, Governance Risk And Compliance, Branding And marketing Management, Customer Analytics, Strategy Management, Supply Chain Management, Other Applications
5) By Vertical: Banking Financial Services And Insurance (BFSI), Healthcare And Life Sciences, Retail And Consumer Goods, Energy And Utilities, Manufacturing, Telecommunication And Information Technology, Government And Public Sector, Other Verticals
Subsegments:
1) By Predictive Insights: Forecasting Models, Risk Assessment Tools, Trend Analysis Solutions, Customer Behavior Prediction
2) By Descriptive Insights: Data Visualization Tools, Reporting And Dashboard Services, Historical Data Analysis, Key Performance Indicator (KPI) Tracking
3) By Prescriptive Insights: Recommendation Engines, Optimization Models, Decision Support Systems, Scenario Analysis And Simulation Tools
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What regions are at the forefront of insights-as-a-service market expansion?
North America was the largest region in the insights-as-a-service market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the insights-as-a-service market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Who are the leading players fueling growth in the insights-as-a-service market?
Major companies operating in the insights-as-a-service market report are Microsoft Corporation, Dell Inc., Deloitte Touche Tohmatsu Limited, accenture* Plc, International Business Machines Corporation, Oracle Corporation, Tata Consultancy Services, Nokia Corporation, Capgemini SE, NTT DATA Corporation, Infosys Limited, Wipro Limited, Concentrix Corporation, Juniper Networks Inc, Dynatrace Inc, GAVS Technologies, Civica, Tiger Analytics, Sisense Inc, Hitech BPO, Analytics Quotient, Good Data, ACTICO GmbH, Smartfocus, Zephyr Health, Sand Hill Group, Crediwatch
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What Is Covered In The Insights-As-A-Service Global Market Report?
•Market Size Forecast: Examine the insights-as-a-service market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the insights-as-a-service market for a structured understanding.
•Key Players Overview: Analyze major players in the insights-as-a-service market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the insights-as-a-service market.
•Segment Contributions: Evaluate how different segments drive overall growth in the insights-as-a-service market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the insights-as-a-service market.
•Industry Challenges: Identify potential risks and obstacles affecting the insights-as-a-service market.
•Competitive Landscape: Review strategic developments in the insights-as-a-service market, including expansions, agreements, and new product launches.
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