Selbyville, Delaware, May 29, 2023 (GLOBE NEWSWIRE) --
The insight engines market valuation is poised to reach USD 11 billion by 2032, as reported in a research study by Global Market Insights Inc.
Increasing advancements in AI and machine learning technologies for the influx of more advanced insight engines will drive the market demand. These technologies not only assist organizations in analysing large amounts of data quickly and accurately but also offer valuable insights for business decision-making. Of late, the demand for search technologies is growing for delivering personalized results to cater to specific user needs. The rising popularity of personalized search experiences is further enhancing the industry outlook.
The insight engines market from the on-premise segment is poised to record over 20% CAGR from 2023 to 2032. The growth can be attributed to the robust abilities of on-premise insight engines to provide customization and greater flexibility when compared to cloud-based solutions. The increasing inclination of various organizations in managing on-premise data for compliance and security reasons will also play a key role in the market expansion.
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Insight engines market from the IT telecom end-use segment is estimated to cross USD 2.5 billion by 2032, owing to rising complexity as well as volume of data generated by several companies worldwide. The massive data generated by IT companies from several sources including network logs, social media system events, and customer interaction needs to be analyzed quickly. To that end, the growing adoption of insight engines will add to the industry demand.
Asia Pacific insight engines market is expected to be worth USD 3 billion by 2032. This can be ascribed to the rising adoption of various technologies in countries, such as China and India. The rapidly expanding manufacturing sector in APAC has steered the higher focus on improving product quality. The increasing empasis of various countries on using deploying technologies to extract insights from several forms of data will also push the regional market growth.
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Prominent participants operating across the insight engine market are Attivio, Celonis, Coveco Solutions, Inc., Micro Focus International, Elastic, Fosfor, Mindbreeze, Sinequa SAS, Funnelback Pty Ltd, Google LLC, IBM, IntraFind, LucidWorks, Inc., Microsoft, Squirro, and Stravito AB. These industry entities are focusing on partnerships and acquisitions to widen their global presence. For instance, Mindbreeze, in February 2022, joined forces with BLUE Consult GmbH for developing the InSpire solution to assist other organizations in deploying information efficiently and gaining competitive advantages.
Partial chapters of report table of contents (TOC):
Chapter 2 Executive Summary
2.1 Insight engines market 360º synopsis, 2018 - 2032
2.2 Business trends
2.2.1 Total Addressable Market (TAM)
2.3 Regional trends
2.4 Component trends
2.5 Deployment type trends
2.6 Enterprise size trends
2.7 End use trends
2.8 Application trends
Chapter 3 Insight Engines Market Insights
3.1 Impact on COVID-19
3.2 Russia- Ukraine war impact
3.3 Industry ecosystem analysis
3.4 Vendor matrix
3.5 Profit margin analysis
3.6 Technology & innovation landscape
3.7 Patent analysis
3.8 Key news and initiatives
3.9 Regulatory landscape
3.10 Impact forces
3.10.1 Growth drivers
3.10.1.1 Rising volume of data and necessity of structured data
3.10.1.2 Advancements in artificial intelligence and machine learning
3.10.1.3 Growing importance of knowledge management in organizations
3.10.1.4 Need for predictive analytics to enable proactive decision making
3.10.2 Industry pitfalls & challenges
3.10.2.1 Concerns regarding quality of data and its source validation
3.10.2.2 Privacy and security concerns and high cost
3.11 Growth potential analysis
3.12 Porter’s analysis
3.13 PESTEL analysis
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About Global Market Insights Inc.
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
