Press release
Emerging Trends to Drive Insights-As-A-Service Market Growth at 15.2% CAGR Through 2029
Insights As A Service Market Size
Insights-As-A-Service Market Size Growth Forecast: What to Expect by 2025?
The market size for insights-as-a-service has significantly expanded in the past few years. The market, which stands at $6.07 billion in 2024, will elevate to $7.53 billion in 2025, marking a compound annual growth rate (CAGR) of 24.2%. This growth during the historical timeframe is due to the rising adoption of edge computing, cross-platform integration, sophisticated analytics and machine learning, digital transformation, and data explosion.
How Will the Insights-As-A-Service Market Size Evolve and Grow by 2029?
The market size for insights-as-a-service is predicted to experience a sharp increase in the upcoming years, amplifying to $13.27 billion in 2029 with an estimated compound annual growth rate (CAGR) of 15.2%. The anticipated expansion during the forecast period can be credited to several factors such as emphasis on user experience, the rise of hybrid and multi-cloud deployments, importance attributed to explainability in AI, integration with Internet of Things (IoT), and focus on data governance and compliance. Noteworthy trends during the forecasted timeframe include AI-powered insights, enhanced analytics, real-time and streaming analytics, blockchain for maintaining data integrity, and automated data governance.
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What Drivers Are Propelling the Growth of Insights-As-A-Service Market Forward?
The anticipateed growth of the insights-as-a-service market can largely be attributed to the surge in big data. Defined as immense, diverse, and increasingly complex sets of both organised and semi-structured data, big data is mainly the result of booming technological advancements leading businesses to generate a considerable amount of data. Insights-as-a-service offers the ability for enterprises to garner valuable insights, spot trends, and make informed decisions from these large and complex data sets. For instance, a report by The Linux Foundation, a non-profit consortium based in the US, highlighted in December 2022 that the average end-user organization saw data growth there reached a significant 2,208 terabytes in 2022, marking an increase of 215.43% or three times more than the 700 terabytes in 2021. As such, the burgeoning big data is propelling the insights-as-a-service market.
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Which Emerging Trends Are Transforming the Insights-As-A-Service Market in 2025?
Leading corporations in the insights-as-a-service market are committed to introducing cutting-edge solutions such as mytonomy analytics cloud tools to solidify their market presence. These solutions harness data, statistical analysis, simulation, and machine learning to predict future events or opportunities, offering practical solutions and insights for data-related challenges. For example, in November 2023, Mytonomy Inc., a healthcare cloud service provider based in the USA, unveiled the mytonomy analytics cloud powered by Sisense. This is a healthcare cloud service strengthened by Sisense, unlocking new insights and interactive features for mytonomy's cloud. It enables healthcare providers to effortlessly monitor, forecast, and delegate resources where they are most required by integrating the health insurance portability and accountability act (HIPAA) compliant advanced analytics of Sisense, leading to time efficiency and enhanced patient care. The real-time predictive analytics and insights aim to assist health systems in boosting staff productivity, streamlining operations, and making data-informed decisions on patient outreach.
What Are the Key Segments in the Insights-As-A-Service Market?
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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Who Are the Key Players Shaping the Insights-As-A-Service Market's Competitive Landscape?
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 Geographic Markets Are Powering Growth in the Insights-As-A-Service Market?
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.
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