Press release
Insights-As-A-Service Market Anticipated To Witness Robust Growth, Surpassing $13.27 Billion By 2029
Insights-As-A-Service Market Growth
What Is the Current Insights-As-A-Service Market Size and Its Estimated Growth Rate?
There has been a remarkable growth in the size of the insights-as-a-service market in the past few years. The market is predicted to escalate from $6.07 billion in 2024 to $7.53 billion in 2025, seeing a compound annual growth rate (CAGR) of 24.2%. Factors such as the rising adoption of edge computing, the integration across various platforms, advancements in analytics and machine learning, digital transformation, and a surge in data, have all contributed to the growth observed in the historic period.
The size of the insights-as-a-service market is set to experience rapid expansion in the coming years, projected to reach $13.27 billion in 2029 with a compound annual growth rate (CAGR) of 15.2%. This growth in the future years is linked to a focus on user experience, the surge in hybrid and multi-cloud deployments, the emphasis on explainability in AI, integration with the internet of things (IoT), and an increased focus on data governance and compliance. Promising trends within this period comprise AI-driven insights, enhanced analytics, real-time and streaming analytics, the use of blockchain for data integrity, and automated data governance.
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How Are Emerging Segments Shaping the Insights-As-A-Service Market Landscape?
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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Which Growth Factors Are Influencing Insights-As-A-Service Market Expansion?
The surge in big data is projected to fuel the expansion of the insights-as-a-service market in the future. Big data encompasses extraordinarily vast and varied groupings of organized, fragmented, and semi-structured details. It's the high-tech companies that are producing copious amounts of data are contributing to large quantities of big data. Insight-as-a-service supports companies to deduce actionable insights, discern patterns and formulate intelligent decisions from large, intricate data sets. For instance, in December 2022 as per a report released by The Linux Foundation, a non-profit consortium based in the US, the rate of data growth for an average end-user organization hit a notable 2,208 terabytes in 2022, an upsurge of 215.43%, about threefold from the 700 terabytes in 2021. Therefore, the escalating big data is boosting the insights-as-a-service market's growth.
Who Are the Dominant Players Across Different Insights-As-A-Service Market Segments?
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
What Insights-As-A-Service Market Trends Are Gaining Traction Across Different Segments?
Leading businesses engaged in the insights-as-a-service sector concentrate on devising innovative solutions like mytonomy analytics cloud services to solidify their foothold in the respective market. These strategies employ data, statistics, machine learning and simulation to foresee and strategize for future possibilities or opportunities, thereby providing actionable insights and resolutions to data-associated challenges. For example, in November 2023, Mytonomy Inc., a healthcare cloud solutions provider based in the U.S., unveiled mytonomy analytics cloud, boosted by Sisense. This healthcare cloud service, driven by Sisense, brings remarkable new insights and interactive features to mytonomy's cloud. By incorporating advanced analytics capacities of Sisense that comply with health insurance portability and accountability act (HIPAA), it offers healthcare professionals a user-friendly means to monitor, predict, and distribute resources where they are most required, thus saving time and enhancing patient care. The real-time predictive analytics and insights are designed to aid health systems in boosting staff efficiency, simplifying operations, and making patient outreach decisions based on data.
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Which Geographic Regions Are Expected to Dominate the Insights-As-A-Service Market in the Coming Years?
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.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Insights-As-A-Service Market?
2. What is the CAGR expected in the Insights-As-A-Service Market?
3. What Are the Key Innovations Transforming the Insights-As-A-Service Industry?
4. Which Region Is Leading the Insights-As-A-Service Market?
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