According to a Future Market Insights report, the global insights-as-a-service market is poised to be valued at US$ 3,493.2 million in 2023. From 2023 to 2033, the industry is most likely to expand at a CAGR of 23.5% and reach a valuation of US$ 29,911 million.

Businesses that increase their attention on scaling up to fulfil their business goals will have better growth prospects. Aside from that, a focus on enhancing customer lifecycle management among SMEs and large enterprises will result in greater use of insights-as-a-service across organizations.

According to FMI, Europe is the top market, followed by North America. Expansion in Europe is aided by the region’s sophisticated infrastructure, which fosters the use of modern technologies in data analytics such as the Internet of Things (IoT), artificial intelligence (AI), and machine learning (ML).

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Big data analytics has grown significantly in recent years. Insights-as-a-Service solutions provide firms with information that enables them to create previously unimagined opportunities. With the use of firm data such as stocks, financial data and results, keyword performance, staff information, and business process data, it offers companies with statistical analysis and business intelligence.

Key Takeaways:

In 2022, the BFSI segment represented 19.7% of the total market share for insights-as-a-service.
Demand for insights-as-a-service surged at a CAGR of 21.4% between 2018 and 2022.
The top five insight-as-a-service service providers are Capgemini, Oracle Corporation, IBM Corporation, Accenture, and Good Data, with a 20% to 30% market share.
In 2022, the United Kingdom and Germany will have a combined market share of 48% of the European market.
In 2023, the Japanese market will be worth US$ 100.8 million, while the South Korean market will be worth US$ 47.0 million.
“The integration of sophisticated technologies including 5G and 4G internet across sectors is projected to drive the popularity of insights-as-a-service solutions. According to the New Eclipse Foundation’s IoT commercial adoption survey, around 40% of industry leaders responding to the poll said their organizations are utilizing IoT solutions, with another 22% planning to deploy IoT in the future years,” – says an FMI analyst.

Competitive Landscape:

Management Controls Inc. (MCI), the leading international supplier of contractor spend management software, unveiled the launch of its international managed service offering (MServ) in May 2023 to enable clients to focus on their main business.
In May 2023, NTT Ltd., a major IT infrastructure and services business, and Cisco, a global technology leader, unveiled cooperation with the goal of creating integrated solutions that enable organizations to increase operational efficiency and advance sustainability objectives.
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More Valuable Insights:

Future Market Insights, in its new offering, presents an unbiased analysis of the global insights-as-a-service market presenting a historical analysis from 2018 to 2022 and forecast statistics for the period of 2023 to 2033.

The study reveals essential insights by solution (insights-as-a-service platform, services), application (branding & marketing management, supply chain analytics, competition benchmarking), enterprise size (SMEs, large enterprises), industry (BFSI, retail & CPG, IT & telecom, media & entertainment) & region (North America, Latin America, Europe, East Asia, South Asia, Oceania, and Middle East & Africa).

Key Segments Covered in this Industry Study:

By Solution:

Insights-as-a-Service Platform (SaaS-based)
Services
Consulting & Advisory
Implementation & Integration
Support & Maintenance
By Application:

Branding & Marketing Management
Supply Chain Analytics
Competition Benchmarking
Governance, Risk & Compliance
Customer Analytics
Others
By Enterprise Size:

Small & Medium Enterprises (SMEs)
Large Enterprises
By Industry:

BFSI
Retail & CPG
IT & Telecom
Media & Entertainment
Education
Healthcare and Life Sciences
Government
Manufacturing
Others
By Region:

North America
Latin America
Europe
East Asia
South Asia
Oceania
Middle East & Africa