Press release
Global Insight Engines Market to Reach $7.35 Billion by 2029, Growing at 26.7% CAGR
Insight Engines Market Size
The insight engines market will grow from $2.25 billion in 2024 to $2.85 billion in 2025, at a CAGR of 26.8%. The growth is attributed to the increasing use of structured data, growing adoption in the BFSI sector, retail and e-commerce sector expansion, advanced search capabilities, and enhanced strategic risk management.
The Insight Engines market will grow to $7.35 billion by 2029 at a CAGR of 26.7%, driven by advanced search capabilities, risk management, AI adoption, and big data. Trends include NLP, AI-driven insights, and growing adoption in the healthcare sector.
What Factors Are Fueling Growth in the Insight Engines Market?
The rising volume of data is expected to drive the growth of the insight engines market. The surge in data across industries has led businesses to adopt data analysis tools to derive insights for decision-making. Insight engines automatically generate insights from large datasets, enabling organizations to gain a comprehensive understanding of their data and make informed decisions. According to The Linux Foundation, data growth for an average organization reached 2,208 TB in 2022, marking a significant rise in data volume. The growing need to manage this data effectively is driving the demand for insight engines.
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Which Leading Companies Are Shaping the Growth of the Insight Engines Market?
Major companies operating in the insight engines market report are Google LLC, Microsoft Corporation, International Business Machines Corporation, Oracle Corporation, Hewlett Packard Enterprise Co, Dassault Systems SA, EPAM Systems Inc., o9 solutions Inc., OpenText Corporation, Micro Focus International PLC, ServiceNow Inc., IHS Markit Ltd., Celonis SE, Veritone Inc., Coveo Solutions Inc., LucidWorks Inc., Expert System SpA, ActiveViam, Lattice Engines Inc., CognitiveScale, Attivio Inc., Smartlogic Semaphore Ltd., Mindbreeze GmbH, Squirro, BA Insight, Insight Engines Inc., IntraFind Inc., Comintelli AB, Prevedere Inc., Forwardlane Inc., Progress Software Corporation
What Are the Major Trends Shaping the Insight Engines Market?
Leading companies in the insight engines market are working on advanced technologies and solutions, like automated insight engines, to gain a competitive edge. These platforms deliver synthesized or existing information proactively or interactively to digital workers, customers, or stakeholders at crucial business moments. For instance, in January 2022, Atrium, a consulting services firm based in the US, introduced an automated insights engine. This tool continuously evaluates sales performance, identifies the underlying causes from numerous KPIs (key performance indicators), and offers recommendations for future actions. The system is designed to quickly identify reasons behind a sales representative's performance, allowing managers to take appropriate action and make data-driven decisions. Key features include continuous monitoring, a strategy insights console, insight alerts, and actionable recommendations.
What Are the Key Segments of the Insight Engines Market?
The insight engines market covered in this report is segmented -
1) By Component: Solutions, Services
2) By Deployment Mode: Cloud, On-Premises
3) By Technology: Natural Language Processing, Machine Learning
4) By Application: Search And Discovery, Customer Management, Knowledge Management, Risk And compliance Management, Other Applications
5) By Vertical: Banking, Financial Services, And Insurance, Information Technology (IT) And Information Technology Enabled Service (ITES), Retail And E-commerce, Healthcare And Life Sciences, Telecom, Manufacturing, Government
Subsegments:
1) By Solutions: Search And discovery Solutions, Data Integration And Management Solutions, Analytics And Reporting Tools, Natural Language Processing (NLP) Solutions, Machine Learning Models
2) By Services: Consulting Services, Implementation And Integration Services, Support And Maintenance Services, Training And Education Services, Custom Development Services
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Which Region Dominates the Insight Engines Market?
North America was the largest region in the insight engines market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the insight engines market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Is Covered In The Insight Engines Global Market Report?
- Market Size Analysis: Analyze the Insight Engines Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Insight Engines Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Insight Engines Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Insight Engines Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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