Press release
Global Insights-As-A-Service Market Expected to Achieve 15.2% CAGR by 2029: Growth Forecast Insights
Insights-As-A-Service
How Large Will the Insights-As-A-Service Market Size By 2025?
The market size of insights-as-a-service has witnessed phenomenal growth in the past years. There will be a rise from $6.07 billion in 2024 to $7.53 billion in 2025, registering a compound annual growth rate (CAGR) of 24.2%. The escalation during the historic period is mainly due to factors like the rising uptake of edge computing, integration across platforms, sophisticated analytics and machine learning, digital makeover, and data bursts.
How Big Is the Insights-As-A-Service Market Size Expected to Grow by 2029?
The size of the insights-as-a-service market is forecasted to experience a significant increase in the coming years, expanding to a value of $13.25 billion in 2029 with a Compound Annual Growth Rate (CAGR) of 15.2%. Several factors contribute to this growth during the forecast period, including an emphasis on user experience, the expansion of hybrid and multi-cloud deployments, AI explainability, IoT integration, and a heightened focus on data governance and compliance. The forecast period is also expected to see significant trends such as AI-propelled insights, enhanced analytics, blockchain usage for better data integrity, real-time and streaming analytics, and automated data governance.
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Which Key Market Drivers Powering Insights-As-A-Service Market Expansion and Growth?
The surge in big data is anticipated to stimulate the expansion of the Insights-as-a-Service market in the future. Big data refers to extensive and diverse sets of structured, broken, and semi-structured information. The surge in data production from businesses due to technical advancements contributes to the massive amount of big data. Insights-as-a-service allows businesses to obtain practical knowledge, recognize patterns, and make informed decisions from large and complex datasets. For example, data growth for an average end-user organization hit a remarkable 2,208 terabytes in 2022, a rise of 215.43% or triple of the 700 terabytes in 2021, according to a December 2022 report by The Linux Foundation, a US-based non-profit consortium. Hence, the upward trend in big data is fueling the growth of the Insights-as-a-service market.
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Which Fast-Growing Trends Are Poised to Disrupt the Insights-As-A-Service Market?
Leading corporations in the insights-as-a-service sector are concentrating on the creation of innovative solutions, such as mytonomy analytics cloud solutions, in order to solidify their market position. These solutions utilize data, statistics, simulation, and machine learning to predict and prepare for future events or opportunities, providing actionable insights and problem-solving strategies for issues related to data. For example, Mytonomy Inc., a healthcare cloud solution provider based in the US, introduced the mytonomy analytics cloud, powered by Sisense, in November 2023. This healthcare cloud service, enhanced by Sisense, incorporates new significant insights and enhanced interaction options into Mytonomy's cloud. It assists healthcare providers in efficiently monitoring, forecasting, and distributing resources to the most needed areas by integrating Sisense's advanced analytics capabilities, which are in compliance with the health insurance portability and accountability act (HIPAA). The result is a saving in time and an enhancement in patient care. The purpose of the real-time predictive analytics and insights is to assist health systems in improving staff efficiency, simplifying processes, and making informed decisions regarding patient communications based on data.
What Are the Emerging Segments in the Insights-As-A-Service Market?
The insights-as-a-servicemarket 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 Global Leaders in the Insights-As-A-Service Market?
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
Which are the Top Profitable Regional Markets for the Insights-As-A-Service Industry?
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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