New York, US, April 25, 2023 (GLOBE NEWSWIRE) -- According to a comprehensive research report by Market Research Future (MRFR), “Operational Intelligence Market By Type, by Application, by Vertical – Forecast till 2030”. The growth of the market can be attributed to the increasing demand for real-time data analytics to optimize business operations, reduce costs, and improve efficiency. The rise of internet of things (IoT) devices and the increasing adoption of artificial intelligence (AI) and machine learning (ML) technologies are also driving factors for the growth of the market.
Operational Intelligence Market Key Players
Some of the key players operating in the operational intelligence market include:
- Splunk Inc.
- IBM Corporation
- SAP SE
- Oracle Corporation
- TIBCO Software Inc.
- BMC Software Inc.
- Flexera Software LLC
- VMware Inc.
- Micro Focus International plc
- Hitachi Ltd.
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Report Scope:
| Report Metric | Details |
| Revenue forecast in 2030 | USD 6.2 Billion |
| Growth Rate | CAGR of 10.45% from 2022 to 2030 |
| Base Year | 2021 |
| Study Period | 2022-2030 |
| Key Market Opportunities | Organizations playing a role in improving the efficiency of the operational activities and their productivity raises the opportunity of the market. |
| Key Market Drivers | Organizations are investing much more in the unified solutions of the operational services along with the business services which helps in improving the handling power and decision-making power abilities of the services. |
Challenges
However, the operational intelligence market faces several challenges, including the lack of skilled professionals to manage and maintain operational intelligence solutions, the high cost of implementation and integration of operational intelligence solutions, and the lack of interoperability between different operational intelligence solutions.
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Market Segmentation
The global operational intelligence market is segmented by type, application, deployment mode, organization size, and region. By type, the market is segmented into software and services. By application, the market is segmented into supply chain and logistics, customer experience management, asset management, workforce management, and others. By deployment mode, the market is segmented into cloud-based and on-premise. By organization size, the market is segmented into large enterprises and SMEs.
Regional Analysis
The global operational intelligence market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. North America is expected to dominate the market during the forecast period due to the presence of several key players in the region and the increasing adoption of operational intelligence solutions by organizations to optimize their business operations.
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Industry Trends
One of the key trends in the operational intelligence market is the increasing use of AI and ML technologies to enhance the capabilities of operational intelligence solutions. Another trend is the integration of operational intelligence solutions with other IT infrastructure solutions such as security and cloud to provide comprehensive business management and optimization.
Recent Developments and Opportunities
In recent years, several developments have been made in the operational intelligence market. For instance, in November 2022, Splunk Inc. announced the launch of its new operational intelligence solution, Splunk Observability Suite, which provides end-to-end visibility into IT infrastructure and application performance. Similarly, in September 2021, SAP SE announced the launch of its new operational intelligence solution, SAP Intelligent Asset Management, which uses AI and ML technologies to optimize asset performance and reduce maintenance costs.
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There are several opportunities in the operational intelligence market, including the increasing adoption of cloud-based operational intelligence solutions, the integration of operational intelligence solutions with other IT infrastructure solutions, and the development of operational intelligence solutions for SMEs.
In conclusion, the operational intelligence market is expected to grow at a significant rate in the coming years due to the increasing demand for real-time data analytics to optimize business operations and improve efficiency. However, the market also faces several challenges that need to be addressed. The integration of AI and ML technologies and the development of operational intelligence solutions for SMEs present significant opportunities for the growth of the market.
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Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis regarding diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.
