Insights Engines Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 - 2025
Global Insights Engines Market: Snapshot
As business enterprises expand their horizons, it becomes increasingly important to provide the workforce with access to information, and that too on a real-time basis. In the past few years, enterprises have been using question answering systems such as Siri in order to enhance workplace search facilities as well as collaborations among employees. Now, in the recent times, Cortana and Google Assistant are starting to gain adoption.
These insight engines are perfect for emerging technologies such as chatbots and natural language processing (NLP), which is an integral component of artificial intelligence. With an ability to gauge the meaning of human speech in different tones and accents, NLP has proven its work as an insight engine and new assistants such as Google Home, Siri by Apple, and Alexa by Amazon are mushrooming.
Currently, the demand for insights engines exceeds the supply, which is a reflection of strong need for semi-structured and unstructured content within organization such as email interactions, queries, videos, social media, customer review and care, and support requests. The algorithms in insights engines are able to understand these repeated queries and process data rapidly and proactively.
Insights engines can be personalized too. However, there is strong need for fine tuning these AI tools in order to handle tougher and specific questions that often emerge in a workplace. Going forward, enhancements to text analytics and NLP tools are expected to pave newer ways. This business intelligence report on the global insights engines market has been compiled using proven research methodologies and targets technology providers. The report also provides insights into the potential of demand that will be forthcoming from various countries and regions, as well as profiles some of the prominent players in its featured chapter on the competitive landscape.
Global Insight Engines Market: Overview
Information at fingertips is of great essence for organizations. For instance, readily available information can help in training new joiners and fetching updates from a coworker at remote or approachable location. Simply put – it can act a personal assistant for every employee. And how about not at the fingertips but a voice command. That is what insight engines are for – a Natural Language Processing (NLP) computer program that can act as a question answering tool. Small and medium businesses (SMBs) and even large enterprises are now increasingly using chatbots and digital assistants such as Siri, Alexa, and Google Home, which functions an artificial intelligence (AI) component and can even expand to providing business intelligence and analytics! As per the findings of this market research study, the demand for insight engines is on an exuberant ride and oozes from high profitability, if done correctly.
Insight engines make for an emerging market that has plenty of opportunity for innovation, and this report has highlighted most of the current flagship technologies. Compiling a comprehensive study on the insight engines market, this report includes figurative representation of which segments are showing greater promise, explores the potential of demand that will be coming from various regions and countries, and profiles a number of pioneering companies that are harnessing the concept currently. The report has been developed to act as credible business tool for audiences such as investors and venture capitalists, value-added resellers (VARs), software and application developers, and government agencies
Global Insight Engines Market: Drivers and Restraints
A number of factors are poised to excel the market for insight engines, but none bigger than the constant need for the organizations to sustain a strong and strategic risk management protocol. Data security is now paramount with frequent incidences of breaches and hence, regulations and compliance deadlines are constantly evolving for the business enterprises. There has always been a need for advanced search for information at a workplace and insight engines are primed to fulfil the voids in the near future.
On the other hand, data quality and data source validation, privacy concerns, and the lack of trained personnel are some of the restraints curtailing the progress of the insights engines market. Nevertheless, growing significance of AI technologies for data collection and increasing need for predictive insights for businesses to take calculated decisions are expected to open new opportunities in this market.
There can be a few types of insight engines depending on what information they provide, such as descriptive, prescriptive, and predictive. Based on component, the insight engines market can be segmented into professional services, managed services, tools, consulting, deployment and integration, and support and maintenance. Application-wise, the market can be bifurcated into operations management, workforce management, customer experience management, risk and compliance management, sales and marketing optimization, network efficiency management, and business process and product management. Deployment mode can be on premise or on cloud. The industry verticals that can be end users of insights engines market are BFSI, retail and ecommerce, healthcare, manufacturing, IT and telecom, and media and entertainment.
The analyst of the report has also estimated the potential of demand that will be coming from every important region and country including the U.S. and Canada in North America, India and China in Asia Pacific, and Germany, France, and Russia in Europe.
Global Insight Engines Market: Competitive Landscape
IBM, Microsoft, Oracle, Coveo, Sinequa, Celonis, IntraFind, Insight Engines, Expert System, BA Insight, Comintelli, and ActiveViam. The report profiles quite a few of these leading companies, showcasing their business overview, recent strategic decisions, product portfolio, geographical presence, and market strength in terms of shares.
This study provides a particularized anatomy according to the L.E.A.P mechanism
The regional analysis offers market assays across:
The study, prepared through the L.E.A.P mechanism adds a dimension of infallibility and assures precise information on all the growth dynamics.
Latest Trends and Cardinal Growth Prospects
The study assists in burnishing the knowledge of the stakeholder in terms of the emerging trends. The study provides an expansive coverage on the latest developments and novel profit-yielding sources that augur well with the market. A dedicated and determined team of experts conduct an out-and-out research on diverse aspects to offer ultimate breakthroughs in the market.
Existing and Future Insights in Growth
The interfusion of ubiquitous primary and secondary research through modern tools invites perfection and accuracy in every aspect. Primary research is circumspectly conducted through exhaustive interactions and interviews of experts. These valuable opinions are then neatly inducted in the report to allow the stakeholder for reaping the benefits. A treasure of secondary data is extracted via famed paid sources, yearly estimates and statements, renowned journals, and government documents. These sources assist in creating a robust database comprising existing and subsequent growth dynamics.
Ascensions in Technology
Diverse technological advancements and cutting-edge innovations in the market have been covered in this study to assist the stakeholder in research and development activities. Recent upgrades have also been added in the study, thus helping the stakeholder to paint the strokes of growth on the canvas of the market.
The study presents a plethora of challenges and obstacles that can hinder the growth of the market to allow the stakeholder to prepare their strategies accordingly.
The world ushered in the new decade with the shadow of the COVID-19 pandemic. The outbreak has damaged the growth prospects of several businesses and has crippled the entire economy. The study is in tandem with the changing dynamics of the market due to the SARS-CoV-2 outbreak. The study focuses on the coronavirus pandemic and analyses every aspect that impacts the growth positively or negatively.
An aerial perspective of the regions covered in this study enables the stakeholder to design strategies accordingly. The 360-degree assessment of every aspect associated with growth offers information on a rainbow of growth opportunities available across the market.
The exhaustive study motivates the stakeholder to take the 'LEAP' of faith and achieve success!
This report is the key to questions such as:
What are the prominent factors that will help in reshaping the market growth?
Which trends have the potential to bring expansive growth for the market?
What are the necessary strategies to overcome the ill-effects of the COVID-19 pandemic?
Which regions will emerge as champion growth contributors for the market?
Which aspects will serve as game-changers for the market?
What are the latest innovations in the market?
Which factors will hinder the growth of the market?
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