“Business increasing IT spend and increasing demand for customer life cycle management are expected to drive the overall Insights-as-a-Service market”
The Insights-as-a-Service market size is estimated to grow from USD 1.16 billion in 2016 to USD 3.33 billion by 2021, at a Compound Annual Growth Rate (CAGR) of 23.5% due to the need for businesses to increase IT expenditure and better customer life cycle management. However, lack of knowledge among the end users and high installation costs associated to sensor data analytics are the major restraints in the overall growth of the market.
“Revenue cycle management is expected to be the most promising solution during the forecast period”
The implementation of revenue cycle management among businesses is expected to grow with the largest market size during the forecast period. The factors driving this sector include the need to identify anomalies in revenue cycle and improving customer onboarding, which can be used by businesses to make informed decisions when it comes to understand the financial processes and improving customer interactions. The RCM application helps deliver actionable insights to businesses in order to overcome the complexities faced in carrying out various business activities.
“The prescriptive insights type is estimated to dominate the Insights-as-a-Service market share during the forecast period”
The prescriptive insights type of Insights-as-a-Service market is estimated to have the highest market share. Prescriptive insights and analytics services demand is increasing widely due to its benefit of anticipating not only what has and could happen, but also why it happened and what can be done for it. This provides businesses with in depth insights about the whole scenario making it easy for businesses to take efficient decisions. The increasing demand of supply chain production and scheduling optimization is a major driver of prescriptive insights type.
“APAC is projected to witness highest growth during the forecast period and North America is expected to hold the largest market share during the forecast period”
APAC is expected to grow with the highest rate during the forecast period. Software companies in the APAC region are facing high pressure to increase agility and improved efficiency with digital transformation due to increasing expectations of customers and high competition with the established players. This creates an opportunity for the Insights-as-a-Service solution and service providers. North America is expected to hold the largest market share and dominate the Insights-as-a-Service market in 2016. There are various factors that contribute to this growth; they are presence of large enterprises with employees who possess strong technical skills, increasing technologically advanced solutions and services, high penetration into the growing industries of the market, and greater efficiency of software-as-a-service (SaaS)-based solution in the front office.
In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews were conducted with key industry personnel. The break-up of profiles of primary discussion participants is given below:
- By Company Type: Tier-1 (18%), Tier-2 (31%), and Tier-3 (51%) companies
- By Designation: C-level (42%), Director Level (33%), and Others (25%)
- By Region: North America (47%), Europe (31%), APAC (14%), and Rest of World (8%)
The list of Insights-as-a-Service vendors profiled in the report is as follows:
1. Oracle Corporation (California, U.S.)
2. Accenture Plc (Dublin, Ireland)
3. International Business Machines Corporation (New York, U.S.)
4. Capgemini (Paris, France)
5. Deloitte Touche Tohmatsu Limited (New York, U.S.)
6. Dell EMC (Massachusetts, U.S.)
7. NTT Data Corporation (Tokyo, Japan)
8. GoodData (California, U.S.)
9. Zephyr Health (California, U.S.)
10. SmartFocus (London, U.K.)
The global Insights-as-a-Service market has been segmented on the basis of type, application, deployment model, organization size, vertical and region. The various types of analysis covered in the study include Insights-as-a-Service cloud ecosystem, value chain analysis, competitive landscaping, and market dynamics.
Reasons To Buy the Report
The report will help the market leaders/new entrants in this market in the following ways:
- This report segments the Insights-as-a-Service market comprehensively and provides the closest approximations of the revenue numbers for the overall market and the subsegments across different verticals and regions.
- The report helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.
- This report will help stakeholders to better understand the competitors and gain more insights to enhance their position in the business. The competitive landscape section includes competitor ecosystem, new product developments, partnerships, and mergers & acquisitions.