Operational Intelligence Market - Global Industry Analysis, Size, Share, Growth, Trends, Forecast 2024
Operational intelligence market supports automation of decision-making process, which improves decision making, enhances market responses and reduces process delays. These solutions are strategically used by organizations to upgrade business processes and enhance their performance. Additionally, OI supports automation of operational data collection and data delivery consequently improving the visibility of performance and operating costs of the process.
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Rising adoption of big data and artificial intelligence in industries due to increasing need for operational efficiency and escalating demand for centralized control and monitoring systems are driving the global operational intelligent market. The other factors driving the growth of operational intelligent market are advancement in technology, rising complexity of manufacturing process, increase in adoption of operational intelligence in financial sector, growing demand for real time remote monitoring of industrial activities. Moreover, growing automation in industrial sectors to avoid mishaps and provide safety of product and employees is also contributing to growth of operational intelligent market. However, lack of infrastructure, lack of skilled professionals, reluctance to expose operational data and difficulty in consolidation are restraining the growth of global operational intelligent market. The evolving operational intelligent systems platform and rising amount of machine generated data is expected to provide opportunities for expanding operational intelligent systems market.
The global Operational intelligence market is segmented on the basis of end-use adoption, deployment type and geography. In terms of end-use adoption, the global operational intelligence market is segmented into IT and telecommunication industry, travel and financial industry, retail industry, healthcare industries and others. The other segment includes manufacturing, energy and power, and logistics industries. Based on deployment type, the global operational intelligence market is segmented into on-premise operational intelligent systems, cloud based operational intelligent systems and hybrid operational intelligent systems. Moreover, in terms of geographic regions the global operational intelligence market is classified into North America, Europe, Middle East and Africa, Asia Pacific and Latin America. North America and Europe is expected to show sustainable growth due to growth in the adoption of operational intelligence tools and focus on improving overall process efficiency. Moreover, Middle East, Africa and Latin America are expected to show moderate growth in operational intelligence market during the forecast period due to increasing demand for analytics and mobile business intelligence.
The key players in global operational intelligence market are concentrating on research and development activities to encounter the increasing demand for operational intelligence systems from the consumers. The key players in operational intelligence market are OpsVeda, Inc., Splunk Inc, SQLsteam, Vitria technology, Inc., Flexeye Ltd., Axway Inc., Intelligent InSites, Inc., Starview Inc., Oversight Systems, Inc., Space Time Insight, Inc., Software AG, OpenText Corp. and VisionWaves B.V.
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