System of Insight Global Market Report 2024

The system of insight market size has grown exponentially in recent years. It will grow from $2.54 billion in 2023 to $3.07 billion in 2024 at a compound annual growth rate (CAGR) of 20.8%. The growth in the historic period can be attributed to several factors, including the increasing adoption of big data analytics across industries, growing demand for real-time data analytics, rising need for predictive and prescriptive analytics, expansion of IoT devices and data, and the emergence of AI and machine learning technologies.

The system of insight market size is expected to see exponential growth in the next few years. It will grow to $6.37 billion in 2028 at a compound annual growth rate (CAGR) of 20%. The forecasted growth in the data analytics market can be attributed to several factors, including the increasing demand for personalized customer experiences, the need for actionable insights from data, compliance requirements driving data governance solutions, the growing focus on data security and privacy, the proliferation of cloud-based analytics solutions, and the integration of data from multiple sources for a holistic view. Major trends expected in this period include the growing demand for real-time analytics, integration of AI and machine learning technologies, the adoption of edge computing for faster data processing, data democratization to empower non-technical users, and the use of predictive and prescriptive analytics for better decision-making.

The growth of e-commerce is expected to drive the expansion of the system of insight market. E-commerce involves the buying and selling of goods and services online, and insight-driven e-commerce platforms can offer personalized experiences to customers based on their browsing history, purchase behavior, and demographics. For example, in the third quarter of 2023, U.S. retail e-commerce reached $271.7 billion, reflecting a 0.9% increase from the previous quarter and a 7.8% increase from the same quarter in 2022. This growth highlights the increasing importance of insight-driven strategies in e-commerce, which is fueling the demand for system of insight solutions.

Major companies in the System of Insight market are developing innovative products, such as Salesforce Genie, to analyze and predict customer data. Salesforce Genie is an insight platform that provides AI and business intelligence (BI) tools. For example, in September 2022, Salesforce launched Salesforce Genie, which unifies customer data across channels and interactions into a real-time customer profile. This enables automated, intelligent, and real-time experiences across Customer 360. Genie includes built-in connectors to bring in data from every channel, legacy data through MuleSoft, and historical data from proprietary data lakes. The platform helps organizations create personalized customer experiences and make every part of the Customer 360 more automated, intelligent, and real-time. It represents a significant innovation on the Salesforce Platform, leveraging real-time data to enhance customer experiences in the digital-first world.

In November 2023, Insight Enterprises, a US-based company providing IT solutions for commercial and public sectors, acquired SADA Systems for $410 million. This acquisition was intended to enhance Insight's multi-cloud capabilities, especially in the Google Cloud Platform. The deal brought 850 Google Cloud experts to Insight's team, bolstering its position in the cloud services market and expanding its services in the multicloud domain. SADA Systems, the acquired company, is a US-based provider of system of insight (SOI) solutions for businesses.

Major companies operating in the system of insight market report are Accenture plc, IBM Corporation, Oracle Corporation, KPMG International Limited, SAP SE, Tata Consultancy Services, Capgemini SE, Wipro, Genpact, Splunk Inc., SAS Institute, Medallia Inc., TIBCO Software Inc., GoodData Corporation, Panorama, Striim Inc., Formtek Inc., INETCO Systems Ltd., Plutora Inc., NGDATA, CoolaData, Correlata Solutions Ltd., Radicalbit, Signals Analytics, Streamlio Inc.

North America was the largest region in the sight of insight market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the system of insight market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the system of insight market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Systems of Insight (SoI) are platforms or approaches that enable organizations to collect, analyze, and derive meaningful insights from various data sources in real-time or near real-time. These insights are used to inform decision-making, enhance operational efficiency, improve customer experiences, and drive business outcomes.

The main components of a System of Insight are solutions and services. SoI solutions are integrated platforms or suites of tools that enable organizations to collect, analyze, and derive actionable insights from various data sources in real-time or near real-time. These solutions are deployed based on on-premise and cloud models and find applications in customer analytics, sales and marketing management, operations management, workforce management, and other areas. They are utilized by industries such as banking, financial services and insurance (BFSI), retail and e-commerce, healthcare and life sciences, telecommunications and information technology (IT), manufacturing, and others.

The system of insight market research report is one of a series of new reports that provides system of insight market statistics, including system of insight industry global market size, regional shares, competitors with a system of insight market share, detailed system of insight market segments, market trends and opportunities, and any further data you may need to thrive in the system of insight industry. This system of insight market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The system of insight market includes revenues earned by entities by providing services such as customer analytics, sales and marketing, operations and workforce management. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The system of insight market consists of sales of servers, storage, networking equipment, desktops, laptops, and printers. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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