Digital Intelligence Platform Market to reach USD 56.22 Billion, with a 17.90% CAGR by 2030 - Report by Market Research Future (MRFR)

Increasing Adoption in Retail Sector to Boost Digital Intelligence Platform Market Growth

New York, USA, May 04, 2023 (GLOBE NEWSWIRE) -- According to a comprehensive research report by Market Research Future (MRFR), “Digital Intelligence Platform Market by Component (Energy Optimization, Analytics, Data Management), Touch point (Mobile, Social Media, Web, Kiosk, Email), Organization Size (SMEs, Large Enterprises), Vertical – Forecast to 2030.The global digital intelligence platform market will touch USD 56.22 billion at a 17.90% CAGR by 2030, as per the present Market Research Future report.

Digital Intelligence Platform Market Key Players 

Eminent industry players profiled in the global digital intelligence platform market report include:

  • Adobe Systems (U.S.)
  • IBM (U.S.)
  • SAS Institute (U.S.)
  • Evergage (U.S.)
  • Google, Inc. (U.S.)
  • Mixpanel (U.S.
  • Optimizely (U.S.)
  • Webtrekk GmbH (Germany)
  • New Relic (U.S.)
  • Localytics (U.S.)
  • Cxense (Norway)

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Report Scope:

Report MetricDetails
  Revenue forecast in 2030USD 56.22 Billion
  Growth RateCAGR of 17.90% from 2022 to 2030
  Base Year2021
 Study Period2022-2030
  Key Market OpportunitiesThe North American market growth is attributed to technological advancements and increased adoption of mobile devices enabled with cloud-based services across various industry verticals.
  Key Market DriversIncreasing demand for mobile applications and growing popularity of e-commerce and online shopping are other major factors driving the growth of the global digital intelligence platform market.

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Increasing Adoption in Retail Sector to Boost Market Growth 

The increasing adoption of digital intelligence platform in retail will boost market growth over the forecast period. With the use of these platforms, businesses in the retail sector may better understand the buying habits and preferences of their customers, customize their goods, and enhance the overall shopping experience.

Emergence of Artificial Intelligence Based Solutions to offer Robust Opportunities 
In order to swiftly and effectively generate actionable insights from enormous amounts of data, digital intelligence platforms in fact are increasingly adopting AI-based algorithms. Organizations are greatly improving their decision-making processes as a result of this.

Restraints and Challenges 
High Implementation Costs to act as Market Restraints 
The implementation costs, privacy concerns and data security, performance limitations, competition from the alternative solutions, and reliance on accurate data may act as market restraints over the forecast period.

Market Segmentation
The global digital intelligence platform market is bifurcated based on vertical, organization size, touch point, and component.

By component, analytics will lead the market over the forecast period.

By touch point, mobile will domineer the market over the forecast period.

By organization size, this market is bifurcated into SMEs & large enterprises.

By vertical, BFSI will spearhead the market in the forecast period.

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COVID-19 Analysis 

The COVID-19 epidemic possessed a significant impact on the digital intelligence platform market. As maximum people began to work remotely and conduct business online, the demand for digital intelligence platforms increased rapidly. Another impact of the pandemic has been an increased focus on cyber-security. With highest number of people working remotely, there has indeed been a corresponding surge in cyber attacks, and digital intelligence platforms have been used to improve security and protect sensitive data.

Regional Analysis 
North America to Head Digital Intelligence Platform Market 
Globally, North America commands the biggest market share, followed by the Asia Pacific region. Due to growing technological advancements, and rising use of digital intelligence platforms, and digital intelligence platforms that are server cloud enabled in the region, the U.S. and Canada are dominating the North American market. Also, the area has a strong infrastructure that facilitates the quicker adoption of cutting-edge technologies. Another key reason propelling the expansion of this market in the region is the rising use of mobile NFC-enabled devices for various purposes. Many of the largest technological businesses in the world, including Microsoft and Amazon, are based in this area and are making significant investments in digital intelligence products.

A strong infrastructure and a high degree of technological competence in the area also make it simpler for businesses to adopt & integrate digital intelligence systems. Due to the fierce competition, top-notch hybrid cloud providers, quick adoption of the business analytics solutions, and the presence of numerous renowned vendors in the United States & Canada, North America will account for the greatest revenue share in 2020. The establishment of a solid base of analytical tools for wise decision-making has fueled market expansion in the area. The United States has contributed largely to the expansion of the North American market for digital intelligence platforms.

The region is abode to several of the biggest technological companies in the world, as well as a sizable number of SMEs that were among the first to use digital intelligence platforms. Due to the region's early adoption of the digital intelligence platforms & the high awareness levels among businesses, it is anticipated that the region would maintain its dominance over the projected period. Also, the expansion of the region has been facilitated by the existence of numerous analytics solution providers, including Microsoft Corporation, SAS Institute, and IBM Corporation.

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APAC to Have Admirable Growth in Digital Intelligence Platform Market 

The market share for digital intelligence platform in the Asia-Pacific region is likewise substantial and expanding quickly, driven by the increasing significance of customer engagement and the rise in mobile usage. In order to increase their competitiveness and fulfill the demands of their quickly expanding populations, several of the largest & fastest-growing economies in the world, like China and India, are located in this region. The need for the multi-source data integration and the growing emphasis on automation are also propelling the growth of the Asia-Pacific market for digital intelligence platforms. The market for digital intelligence platforms in the Asia-Pacific region is expanding quickly, with China, India, Japan, & South Korea among the key contributors.

The region has a sizable and quickly expanding digital economy, and companies and organizations are increasingly depending on platforms for digital intelligence to spur growth and maintain competitiveness. Due to the rising demand from SMEs for cost-effective digital intelligence solutions that allow them to gain better insights in their business operations & make strategic decisions depending on these insights, Asia Pacific will become the regional market with the fastest rate of growth over the forecast period. Demand will also increase as governments in various economies, particularly China and India, place an increasing emphasis on creating intelligent infrastructure.

Industry Updates
January 2023- Recently, an analyst report for the digital intelligence platforms named Amplitude a strong performer. Amplitude received five-star ratings across nine areas, including performance, data governance, and product intelligence.

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