Insights-As-a-Service Market Soars with 23.5% CAGR, Approaching US$ 29,911 Million Valuation by 2033 | FMI Study

The Indonesian market is poised to become a top player in the insights-as-a-service industry, with a projected 35% annual growth over the forecasted period.

NEWARK, DELAWARE, UNITED STATES OF AMERICA, November 6, 2023 /EINPresswire.com/ -- The global insights-as-a-service market is poised to be valued at US$ 3,493.2 million in 2023. From 2023 to 2033, the industry is most likely to expand at a CAGR of 23.5% and reach a valuation of US$ 29,911 million.

Businesses that increase their attention on scaling up to fulfil their business goals will have better growth prospects. Aside from that, a focus on enhancing customer lifecycle management among SMEs and large enterprises will result in greater use of insights-as-a-service market growth across organizations.

According to FMI, Europe is the top market, followed by North America. Expansion in Europe is aided by the region's sophisticated infrastructure, which fosters the use of modern technologies in data analytics such as the Internet of Things (IoT), artificial intelligence (AI), and machine learning (ML).

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Big data analytics has grown significantly in recent years. Insights-as-a-Service solutions provide firms with information that enables them to create previously unimagined opportunities. With the use of firm data such as stocks, financial data and results, keyword performance, staff information, and business process data, it offers companies with statistical analysis and business intelligence.

Key Takeaways from the Insights-As-a-Service Market Report:

In 2022, the BFSI segment represented 19.7% of the total market share for insights-as-a-service.

Demand for insights-as-a-service surged at a CAGR of 21.4% between 2018 and 2022.

The top five insight-as-a-service service providers are Capgemini, Oracle Corporation, IBM Corporation, Accenture, and Good Data, with a 20% to 30% market share.

In 2022, the United Kingdom and Germany will have a combined market share of 48% of the European market.

In 2023, the Japanese market will be worth US$ 100.8 million, while the South Korean market will be worth US$ 47.0 million.

"In the rapidly evolving landscape of data-driven decision-making, the Insights-As-A-Service Market continues to exhibit remarkable growth and innovation also this market segment, offering businesses valuable insights through data analytics and intelligence, is witnessing increasing adoption across various industries, serving as a catalyst for informed strategic choices and competitive advantage." -says Sudip Saha, Managing Director and Co-Founder at Future Market Insights.

Competitive Landscape:

Management Controls Inc. (MCI), the leading international supplier of contractor spend management software, unveiled the launch of its international managed service offering (MServ) in May 2023 to enable clients to focus on their main business.

In May 2023, NTT Ltd., a major IT infrastructure and services business, and Cisco, a global technology leader, unveiled cooperation with the goal of creating integrated solutions that enable organizations to increase operational efficiency and advance sustainability objectives.

Leading Key Players:

Capgemini
GoodData
GAVS Technologies
Oracle Corporation
IBM Corporation
Accenture
Crediwatch
Civica
Analytics Wise
Deloitte
thinkbridge Software
Totango
9Lenses
JBara
ACTICO GmbH

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Insights-As-a-Service Market Segmentation:

By Solution:

Insights-as-a-Service Platform (SaaS-based)
Services

By Application:

Branding & Marketing Management
Supply Chain Analytics
Competition Benchmarking
Governance, Risk & Compliance
Customer Analytics
Others

By Enterprise Size:

Small & Medium Enterprises (SMEs)
Large Enterprises

By Industry:

BFSI
Retail & CPG
IT & Telecom
Media & Entertainment
Education
Healthcare and Life Sciences
Government
Manufacturing
Others

By Region:

North America
Latin America
Europe
East Asia
South Asia
Oceania
Middle East & Africa

Author

Sudip Saha is the managing director and co-founder at Future Market Insights, an award-winning market research and consulting firm. Sudip is committed to shaping the market research industry with credible solutions and constantly makes a buzz in the media with his thought leadership. His vast experience in market research and project management across verticals in APAC, EMEA, and the Americas reflects his growth-oriented approach to clients.

He is a strong believer and proponent of innovation-based solutions, emphasizing customized solutions to meet one client's requirements at a time. His foresightedness and visionary approach recently got him recognized as the ‘Global Icon in Business Consulting’ at the ET Inspiring Leaders Awards 2022.

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About Future Market Insights (FMI):

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

Ankush Nikam
Future Market Insights, Inc.
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