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Insights-As-A-Service Global Market Size is Estimated to Surge at a CAGR of 16.0% to Reach $10.99 Billion By 2028 | Dell Inc., Nokia Corporation, Capgemini SE, NTT DATA Corporation, Infosys Limited
Insights-As-A-Service Global Market
The insights-as-a-service market size is expected to see exponential growth in the next few years. It will grow to $10.99 billion in 2028 at a compound annual growth rate (CAGR) of 16.0%. The growth in the forecast period can be attributed to focus on user experience, rise of hybrid and multi-cloud deployments, focus on explainability in AI, integration with internet of things (IoT), focus on data governance and compliance. Major trends in the forecast period include AI-driven insights, augmented analytics, real-time and streaming analytics, blockchain for data integrity, automated data governance.
Market Overview -
Insights-as-a-solution (IaaS) is a cloud-based solution that helps companies gain actionable data and insights from analytics. It employs predictive analytics and business intelligence to extract insights from cloud-based data warehouses and handle data-specific difficulties.
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Big Data's Influence On The Growth Of Insights-As-A-Service Market
The rising big data is expected to propel the growth of the insights-as-a-service market going forward. Big data is defined as extraordinarily massive and diversified collections of organized, fragmented, and semi-structured information. The businesses generating enormous amounts of data due to technological innovations is contributing to large volumes of big data. Insights-as-a-service enables enterprises to extract actionable knowledge, identify patterns, and make educated decisions from large and complicated datasets. For instance, in December 2022, according to a report published by The Linux Foundation, a US-based non-profit consortium, data growth for an average end-user organization reached a significant 2,208 terabyte in 2022, an increase of 215.43%, or three times the 700 terabytes in 2021. Therefore, the rising big data is driving the insights-as-a-service market.
Competitive Landscape -
Major companies operating in the insights-as-a-service market report are Microsoft Corporation, Dell Inc., Deloitte Touche Tohmatsu Limited, 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
Innovative Solutions In The Insights-As-A-Service Market
Major companies operating in the insights-as-a-service market are focused on developing innovative solutions such as mytonomy analytics cloud solutions to strengthen their position in the market. These solutions employ data, statistics, simulation, and machine learning to anticipate and plan for future occurrences or opportunities, offering actionable insights and solutions to data-related difficulties. For instance, in November 2023, Mytonomy Inc., a US-based healthcare cloud solution provider, launched mytonomy analytics cloud, powered by Sisense. It is a healthcare cloud service powered by Sisense that adds significant new insights and interaction features to mytonomy's cloud. It allows healthcare practitioners to easily track, anticipate, and allocate resources where they are most needed by integrating Sisense's health insurance portability and accountability act (HIPAA) -compliant advanced analytics capabilities, resulting in time savings and improved patient care. The real-time predictive analytics and insights intended to support health systems in optimizing staff productivity, streamlining procedures, and making data-driven decisions about patient outreach.
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Key Segments -
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
Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics
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