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The digital intelligence platform market share is expected to increase by USD 13.09 billion from 2020 to 2025, and the market's growth momentum will accelerate at a CAGR of 18.83%.
This digital intelligence platform market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers digital intelligence platform market segmentations by end user (BFSI, retail, telecom, and others) and geography (North America, APAC, Europe, MEA, and South America). The digital intelligence platform market report also offers information on several market vendors, including Alphabet Inc., Facebook Inc., International Business Machines Corp., Mapp Digital US LLC, Mixpanel Inc., New Relic Inc., Salesforce.com Inc., SAP SE, SAS Institute Inc., and Upland Software Inc. among others.
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Based on our research output, there has been a positive impact on the market growth during and post COVID-19 era. The exponential increase in data is notably driving the digital intelligence platform market growth, although factors such as data privacy and security concerns may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the digital intelligence platform industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Digital Intelligence Platform Market Driver
The exponential increase in data is a major factor driving the global digital intelligence platform market share growth. Sources such as the Internet, mobile devices, and social media generate an enormous amount of data. With the increase in the volume, variety, and velocity of data, commonly known as the 3Vs, organizations are facing challenges to analyze and manage large databases efficiently. In addition, veracity, the fourth component of big data management systems, eliminates the amount of irrelevant data, as it is a source of significant additional costs for organizations. Irrelevant data that are generated from various sources provide incorrect information and predictions about consumer behavior, consumer buying patterns, and other such information that are essential for making key decisions. With the advent of big data and analytics technologies, organizations can transform unstructured and semi-structured data into structured and meaningful data. The key is to obtain accurate data at the right time so that the information is correct and precise and use it further in business-related decision-making processes to understand consumer behavior and market patterns. As a result, organizations are adopting digital intelligence platforms for data collection and analysis. Therefore, the market will continue to grow significantly during the forecast period.
Key Digital Intelligence Platform Market Trend
The emergence of advanced intelligence tools is another factor supporting the global digital intelligence platform market share growth. The emergence of advanced analytics solutions is a new trend being witnessed in the global digital intelligence platform market. Advanced analytics helps companies understand the data generated through various sources better and to use this understanding to gain insights into consumer behavior. These insights help companies deal with a wide range of areas that have significant potential to enhance operational success. They also provide companies with a better understanding of why users behave in a certain manner. Using these insights, companies can create customer-driven marketing strategies by optimizing advertisement-generated interactions. The adoption of predictive analytical tools is also increasing gradually across enterprises. Predictive analytics is the process of analyzing large data sets using advanced mathematics and statistical tools to forecast future scenarios. As digital intelligence platforms enable the effective implementation of predictive analytical tools, their adoption is increasing significantly, thereby driving the growth of the market.
Key Digital Intelligence Platform Market Challenge
The data privacy and security concerns will be a major challenge for the global digital intelligence platform market share growth during the forecast period. Data privacy and security risks are one of the major barriers to the adoption of digital intelligence platforms by organizations. The extensive large-scale use of digital intelligence platforms has led to the generation of large volumes of sensitive data. The interconnection of multiple technologies and the adoption of cloud services to support computing and storage demands for these deployments are leading to concerns related to data and device security. Digital intelligence platforms can easily gain access to cloud-based data storage systems as cloud-based infrastructure is based on open architecture and shared resources. Ease in procuring and accessing cloud services also provides bots the ability to scan, identify, and exploit the loopholes and vulnerabilities in a system. In a multi-tenant cloud architecture, where multiple users are hosted on the same server, a hacker might try to break into the data of other users that are hosted and stored on the same server. Therefore, numerous organizations are skeptical about deploying digital intelligence platforms for their operations, which is limiting the growth of the market.
This digital intelligence platform market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.
Technavio categorizes the global digital intelligence platform market as a part of the global application software market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the digital intelligence platform market during the forecast period.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the digital intelligence platform market encompasses successful business strategies deployed by the key vendors. The digital intelligence platform market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The digital intelligence platform market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the digital intelligence platform market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
The value chain of global application software market includes the following core components:
The report has further elucidated on other innovative approaches being followed by service providers to ensure a sustainable market presence.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by End-user
6 Customer landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
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