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Digital Intelligence Platform Market on Track for Strong Growth, Estimated to Grow at 20.3% CAGR Through 2029
Digital Intelligence Platform Market
What Is the Expected CAGR for the Digital Intelligence Platform Market Through 2025?
Rapid expansion has been observed in the digital intelligence platform market size in the past couple of years. This market is set to inflate from $17.99 billion in 2024 to approximately $21.22 billion in 2025, evidencing a compound annual growth rate (CAGR) of 17.9%. This growth trajectory during the historic period is a consequence of various factors, including a massive surge in data, an increase in online presence, changing demands of customers, adherence to compliance regulations, the influence of social media, the necessity for competitive insights, and strategic marketing investments.
What's the Projected Size of the Global Digital Intelligence Platform Market by 2029?
The market for digital intelligence platforms is predicted to experience a substantial increase in size in the upcoming years. The market is forecasted to expand to $44.4 billion by 2029, with a compound annual growth rate (CAGR) of 20.3%. This projected growth within the forecast period is ascribed to heightened stress on privacy, continual compliance monitoring, industry-specific customization, the incorporation of augmented analytics, and a focus on functional insights. The predominant trends expected during this forecast period encompass real-time analytics, cybersecurity coupled with data privacy, the embrace of cloud computing, automation alongside intelligent process automation (IPA), and cooperation within open ecosystems.
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Top Growth Drivers in the Digital Intelligence Platform Industry: What's Accelerating the Market?
The surge in usage of mobile devices is projected to spur the development of the digital intelligence platform market. Mobile devices, which include wireless communication-based smartphones and tablets, are gaining popularity due to enhanced connectivity, greater affordability, alongside rising demand for efficient access to information, communication, and services on the go. Digital intelligence platforms are crucial for mobile devices as they amplify user experience with personalized content, better decision-making through data-driven insights, and the competent management of resources and applications in real-time. As an example, a report made public by Uswitch Limited, an online and telephone comparison and switching service in the UK, in February 2023 revealed active mobile connections in 2022 were at 71.8 million, witnessing a rise of 3.8% compared to 2021. It is predicted that there will be 68.3 million residents in the UK by 2025, and 95% of them will own smartphones. Thus, the increasing reliance on mobile devices is fueling the growth of the digital intelligence platform market.
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What Trends Will Shape the Digital Intelligence Platform Market Through 2029 and Beyond?
Leading corporations in the digital intelligence platform industry are prioritizing inventive solutions, such as entity enrichment and attribution instruments, to offer their clientele trustworthy services. These tools serve to enhance data by providing attributes and context to entities, enabling more detailed analysis and insights. In line with this, in December 2022, Chorus Intelligence Ltd., a US-based software firm debuted Chorus Intelligence Suite (CIS). The CIS is a digital intelligence solution offering advanced tools for data search, analysis, cleansing, and evidence enrichment under one platform, one dashboard, and a single login. The suite is notably designed to uncomplicate data for law enforcement bodies, financial and corporate entities, and government agencies. Furthermore, the suite presents a federated search and enrichment feature enabling users to utilize an entity enrichment and attribution tool to query any entity and execute bulk searches across internal files, consented data, and more than 200 social media platforms.
What Are the Main Segments in the Digital Intelligence Platform Market?
The digital intelligence platform market covered in this report is segmented -
1) By Component: Data Management, Analytics, Performance Monitoring Tools, Engagement Optimization
2) By Enterprise Type: Small Enterprises, Medium And Large Enterprises
3) By Touchpoint: Web, Email, Mobile, Social Media, Company Website, Kiosks And Point-Of-Sale (POS)
4) By Industry Vertical: Manufacturing, Travel And Tourism, Media And Entertainment, Retail And E-Commerce, IT And Telecommunications, Healthcare And Life Sciences, Other Industries.
Subsegments:
1) By Data Management: Data Integration Tools, Data Storage Solutions, Data Governance Solutions
2) By Analytics: Descriptive Analytics, Predictive Analytics, Prescriptive Analytics, Real-Time Analytics
3) By Performance Monitoring Tools: Key Performance Indicator (KPI) Dashboards, Reporting Tools, Benchmarking Tools
4) By Engagement Optimization: Customer Journey Mapping Tools, A Or B Testing And Multivariate Testing Tools, Personalization Engines
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Which Top Companies are Driving Growth in the Digital Intelligence Platform Market?
Major companies operating in the digital intelligence platform market are Adobe Systems Inc., SAS Institute Inc., Google LLC, Evergage Inc., Mixpanel Inc., Webtrekk GmbH, New Relic Inc. ASA, Localytics Limited, International Business Machines Corporation, Cxense ASA, SAP SE, Upland Software Inc., Facebook Inc., Salesforce.com Inc., Optimizely Inc., Oracle Corporation, AlphaSense Inc., Vectra AI Inc., Databricks Inc., Abnormal Security Corp., Ambu A/S
Which Regions Will Dominate the Digital Intelligence Platform Market Through 2029?
North America was the largest region in the digital intelligence platform market in 2024. The regions covered in the digital intelligence platform market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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