20-Oct-2020 | Zion Market Research
As per analysts at Zion Market Research, the global insight engines market was capitalized at USD 759.15 million in 2019 and is estimated to attain USD 3,179.20 million by 2026, augmenting at a CAGR of over 22.78% during the forecasted period 2020 to 2026. The insight engines aid organizations in unlocking the worth of machine data; as a result, it becomes accessible to anyone in an organization. The insight engine technology eradicates the requirement to learn complicated query language and aids in gaining insights from the machine data by utilizing basic language queries. It is a dynamic parser that examines the search query to recognize its meaning, context, and intent. In just a few seconds, it then creates authentic results, powerful visualizations, and highly-efficient queries. The enterprises benefit from such systems at the workplace, mainly as budding technologies like chatbots and NLP (natural language processing) become more and more common in today’s workplace.
Some of the key players in the market are IntraFind Inc., Funnelback, Coveo Solutions Inc., IBM Corporation, Microfocus, Sinequa, Attivio, Microsoft Corporation, Dassault Systèmes, Mindbreeze GmbH, Lucidworks, Smartlogic, IHS Markit Ltd, Expert System, and Market Logic.
Increasing Adoption Of Insight Engine In Consumer Goods Industry To Boost Global Insight Engines Market
The augmenting demand for insight engines with the rapid implementation and explosion in the retail & consumer goods industry is compelling the market growth. A large number of suppliers of consumer goods & retail globally have executed insight engines to gain a particular understanding of consumer preferences and to identify search queries. The customer insights help organizations to stay one step ahead and assist in spotting regularly changing customer inclinations. The insight engine platform & software providers are targeting on enhancing their training and support facilities. There are limitless opportunities for different industries in the insight engines market due to the importance of digital technologies at present. Industrial segments such as BFSI, IT & telecom, and media & entertainment significantly prefer IoT-based solutions with an aim to advance income. This can be attained by leveraging the strength of AI (artificial intelligence) and machine learning in the fields of marketing, customer assistance, and sales support.
The global insight engines market is bifurcated on the basis of component, application, type, deployment type, vertical, and regional analysis. Based on the component, the market is divided into tools and services. Based on the application, the market is divided into workforce management, customer experience management, sales & marketing management, operations management, risk & compliance management, and others. Based on the type, the market is divided into descriptive insights, prescriptive insights, and predictive insights. Based on the deployment type, the market is divided into on-premises and cloud. Based on the vertical, the market is divided into government; banking, financial services, and insurance; manufacturing; healthcare; retail & e-commerce; media & entertainment; telecom & IT; and others.
The North America Region Estimated To Witness Largest Share In The Global Insight Engines Market
Based on geographical analysis, the global insight engines market is divided into North America, Europe, Latin America, Asia Pacific, and Middle East & Africa. North America is expected to contribute maximum share in the global insight engines market over the forecasted period. The region has a noteworthy existence of key analytics vendors to serve the rapidly developing insight engines market.
Browse the full “Insight Engines Market - By Component (Tools and Services), By Application (Workforce Management, Customer Experience Management, Sales & Marketing Management, Operations Management, Risk & Compliance Management, and Others), By Type (Prescriptive Insights, Predictive Insights, and Descriptive Insights), By Deployment Type (On-Premises and Cloud), By Vertical (Government; Banking, Financial Services, Insurance; Manufacturing; Healthcare; Retail & Ecommerce; Media & Entertainment; Telecom & IT; and Others), And By Region - Global Industry Perspective, Comprehensive Analysis, and Forecast, 2020 – 2026.” Report at https://www.zionmarketresearch.com/report/insights-engine-market
The global insight engines market is segmented as follows:
By deployment type:
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