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(Wireless-NewsWire.Com, August 07, 2019 ) According to research report "Insights-as-a-Service Market by Application (Revenue Cycle Management, Governance, Risk & Compliance, Customer Life Cycle Management), Type, Deployment Model, Organization Size, Vertical, and Region - Global Forecast to 2021", The Insights-as-a-Service market size is expected 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% during the forecast period.
The major drivers of this market include the need for improved customer satisfaction and operational performance.
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The descriptive insights market is estimated to dominate the Insights-as-a-Service market share during the forecast period
The descriptive insights segment is estimated to have the largest market share in the Insights-as-a-Service market. Organizations’ focus on offering specialized services to achieve greater customer experience and achieving operation efficiency at a reduced cost & time is driving the demand for insights services across the globe. The Insights-as-a-Service market is growing at an exponential rate, since most of the players are focusing on providing specialized services for the businesses. A rapid growing demand for customer satisfaction with better and faster support through data insights and its reliable & efficient integration are some of the other drivers impacting the services market.
“Customer life cycle management is expected to grow at a high CAGR during the forecast period”
The customer life cycle management application of Insights-as-a-Service market is witnessing a potential growth in comparison to other applications owing to the benefits it offers such as, lowered costs, improved productivity, and advanced data analytics. The BFSI, healthcare and life sciences, manufacturing, and many more verticals are opting for this application to quickly address customer queries and concerns, keeping in mind the long term benefits. They are additionally achieving a competitive advantage. The major players in this market are Accenture, Oracle, IBM, Deloitte, and Capgemini.
“North America is the leading region in terms of market share in the Insights-as-a-Service market space”
North America is expected to hold the largest market share and dominate the Insights-as-a-Service market in 2016, due to the penetration of large enterprises situated in this region with strong technically sound employees providing continuous innovative technologies, high penetration into the growing industries of the market, and greater efficiency of software-as-a-service based solution in the front office. These are some of the major driving factors contributing to the growth of cloud-based services and solutions in North America.
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Major vendors covered in the Insights-as-a-Service market for the study are Oracle Corporation (California, U.S.), Accenture Plc (Dublin, Ireland), International Business Machines Corporation (New York, U.S.), Deloitte Touche Tohmatsu Limited (New York, U.S.), Capgemini (Paris, France), NTT Data Corporation (Tokyo, Japan), Dell EMC (Massachusetts, U.S.), GoodData (California, U.S.), Zephyr Health (California, U.S.), and SmartFocus (London, U.K.).
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