The North America Insight Engines Market should witness market growth of 24.8% CAGR during the forecast period (2023-2029).
Machine learning and natural language processing (NLP) are the search engines that can comprehend context and respond to and answer complex queries. In addition, search engine strategies are being integrated with user actions to surface valuable information for consumers prior to their search. Such approaches are expected to increase the industry's productivity moving forward.
The popularity of data-driven decision-making among managers is on the rise, and the insights engine enables businesses to base their decisions on the insights derived from the data. Moreover, an intelligent enterprise search capability enables industries to drive the business toward the rapidly expanding digital transformation.
The search capability may assist the organization in capitalizing on the total value of the insights, involving them with experts to solve problems, and elaborating, exploring, or discovering new ways to streamline compliance and enhance customer service. As a result, several business units, departments, and divisions are immunized with insight engines. In addition, the adoption of and transition to a cloud-computing environment are increasing, and vendors on the market are also moving toward providing their solutions via the cloud.
Services and products that incorporate or are generated using digital technologies are referred to as being part of the "digital economy" notion. The information and communications technology (ICT) industry fosters the digital economy and accurately indicates the national economy's expansion. In this digital age, creativity, information, entrepreneurial dynamism, and ICT production would be the United States' competitive advantages. The information and communication technology sector is expected to utilize the insight engine solution and services to achieve greater efficiency for the business and get much-needed consumer insights to meet their demands, thus the growing ICT sector will drive the market growth for insight engines in the region.
The US market dominated the North America Insight Engines Market by Country in 2022, and would continue to be a dominant market till 2029; thereby, achieving a market value of $1,758.7 million by 2029. The Canada market is poised to grow at a CAGR of 27.7% during (2023-2029). Additionally, The Mexico market would exhibit witness a CAGR of 26.5% during (2023-2029).
Based on Technology, the market is segmented into Machine Learning and Nature Language Processing. Based on Application, the market is segmented into Customer Management, Search & Discovery, Knowledge Management, Risk & Compliance Management and Others. Based on Component, the market is segmented into Solution and Services. Based on Deployment Type, the market is segmented into Cloud and On-premise. Based on Organization Size, the market is segmented into Large Enterprises and Small & Medium Enterprises. Based on Vertical, the market is segmented into BFSI, IT & ITeS, Retail & Ecommerce, Telecom, Manufacturing, Healthcare & Lifesciences, Government and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Microsoft Corporation, IBM Corporation, OpenText Corporation, SAP SE, Oracle Corporation, Elastic N.V., expert.ai S.p. A., Almawave S.p. A. (Almaviva S.p. A), Mindbreeze GmbH, and Squirro AG.
Machine learning and natural language processing (NLP) are the search engines that can comprehend context and respond to and answer complex queries. In addition, search engine strategies are being integrated with user actions to surface valuable information for consumers prior to their search. Such approaches are expected to increase the industry's productivity moving forward.
The popularity of data-driven decision-making among managers is on the rise, and the insights engine enables businesses to base their decisions on the insights derived from the data. Moreover, an intelligent enterprise search capability enables industries to drive the business toward the rapidly expanding digital transformation.
The search capability may assist the organization in capitalizing on the total value of the insights, involving them with experts to solve problems, and elaborating, exploring, or discovering new ways to streamline compliance and enhance customer service. As a result, several business units, departments, and divisions are immunized with insight engines. In addition, the adoption of and transition to a cloud-computing environment are increasing, and vendors on the market are also moving toward providing their solutions via the cloud.
Services and products that incorporate or are generated using digital technologies are referred to as being part of the "digital economy" notion. The information and communications technology (ICT) industry fosters the digital economy and accurately indicates the national economy's expansion. In this digital age, creativity, information, entrepreneurial dynamism, and ICT production would be the United States' competitive advantages. The information and communication technology sector is expected to utilize the insight engine solution and services to achieve greater efficiency for the business and get much-needed consumer insights to meet their demands, thus the growing ICT sector will drive the market growth for insight engines in the region.
The US market dominated the North America Insight Engines Market by Country in 2022, and would continue to be a dominant market till 2029; thereby, achieving a market value of $1,758.7 million by 2029. The Canada market is poised to grow at a CAGR of 27.7% during (2023-2029). Additionally, The Mexico market would exhibit witness a CAGR of 26.5% during (2023-2029).
Based on Technology, the market is segmented into Machine Learning and Nature Language Processing. Based on Application, the market is segmented into Customer Management, Search & Discovery, Knowledge Management, Risk & Compliance Management and Others. Based on Component, the market is segmented into Solution and Services. Based on Deployment Type, the market is segmented into Cloud and On-premise. Based on Organization Size, the market is segmented into Large Enterprises and Small & Medium Enterprises. Based on Vertical, the market is segmented into BFSI, IT & ITeS, Retail & Ecommerce, Telecom, Manufacturing, Healthcare & Lifesciences, Government and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Microsoft Corporation, IBM Corporation, OpenText Corporation, SAP SE, Oracle Corporation, Elastic N.V., expert.ai S.p. A., Almawave S.p. A. (Almaviva S.p. A), Mindbreeze GmbH, and Squirro AG.
Scope of the Study
By Technology
- Machine Learning
- Nature Language Processing
By Application
- Customer Management
- Search & Discovery
- Knowledge Management
- Risk & Compliance Management
- Others
By Component
- Solution
- Services
By Deployment Type
- Cloud
- On-premise
By Organization Size
- Large Enterprises
- Small & Medium Enterprises
By Vertical
- BFSI
- IT & ITeS
- Retail & Ecommerce
- Telecom
- Manufacturing
- Healthcare & Lifesciences
- Government
- Others
By Country
- US
- Canada
- Mexico
- Rest of North America
Key Market Players
List of Companies Profiled in the Report:
- Microsoft Corporation
- IBM Corporation
- OpenText Corporation
- SAP SE
- Oracle Corporation
- Elastic N.V.
- expert.ai S.p. A.
- Almawave S.p. A. (Almaviva S.p. A)
- Mindbreeze GmbH
- Squirro AG
Unique Offerings
- Exhaustive coverage
- The highest number of Market tables and figures
- Subscription-based model available
- Guaranteed best price
- Assured post sales research support with 10% customization free
Table of Contents
Chapter 1. Market Scope & Methodology
Chapter 2. Market Overview
Chapter 3. Competition Analysis - Global
Chapter 4. North America Insight Engines Market by Technology
Chapter 5. North America Insight Engines Market by Application
Chapter 6. North America Insight Engines Market by Component
Chapter 7. North America Insight Engines Market by Deployment Type
Chapter 8. North America Insight Engines Market by Organization Size
Chapter 9. North America Insight Engines Market by Vertical
Chapter 10. North America Insight Engines Market by Country
Chapter 11. Company Profiles
Companies Mentioned
- Microsoft Corporation
- IBM Corporation
- OpenText Corporation
- SAP SE
- Oracle Corporation
- Elastic N.V.
- expert.ai S.p.A.
- Almawave S.p.A. (Almaviva S.p.A)
- Mindbreeze GmbH
- Squirro AG
Methodology
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