Operational Intelligence Market
The sudden challenges created by the ongoing COVID-19 are captured effectively to exhibit the long term growth projections in the MRFR report on Operational Intelligence Market. The growth sectors of the Operational Intelligence Market are identified with precision for a better growth perspective.
The global operational intelligence market is projected to witness a rapid growth during the forecast period owing to increasing demand for operational intelligence applications. Moreover, growing popularity of industrial operational intelligence solutions and business intelligence services is another major factor driving the growth of operational intelligence market.
The global operational intelligence market by geography is segmented into North America, Europe, Asia Pacific, and the Rest of the World. The North America market is expected to witness significant growth in the global operational intelligence market during the forecast period. U.S. and Canada are anticipated to drive the growth of the operational intelligence market in North America owing to the presence of a large number of established key players such as OpsVeda, Inc., Splunk Inc., SQLsteam, Vitria Technology, Inc., Axway Inc., Intelligent InSites, Inc., Starview Inc., Oversight Systems, Inc., and Space Time Insight, Inc. among others. Due to sustainable and well-established economies in the region, the market is likely to show immense growth in the coming future. Additionally, the region also has a well-established infrastructure, which allows a higher penetration of devices and ultimately provides better connectivity. The growth of the market is also attributed to easy accessibility of operational intelligence through mobile applications. Also, growing popularity of cloud-based analytical solutions is another major factor driving the market growth.
The global operational intelligence market is projected to reach USD 3.46 billion at a CAGR of over 12% by the end of the forecast period 2017-2023.
Operational Intelligence Market Segmentation
The global operational intelligence market is segmented on the basis of the type, deployment, application and vertical. The vertical segment is classified into BFSI, healthcare, manufacturing, retail, automotive, oil & gas, and others. Operational intelligence offers real-time monitoring capabilities for the organizations in order to make immediate decisions. This helps in improving the overall business processes of the organization and hence is boosting the growth of global operational intelligence market.
Some of the prominent players in the global operational intelligence market: OpsVeda, Inc. (U.S.), Splunk Inc. (U.S.), Siemens AG (Germany), SQLsteam (U.S.), Vitria technology, Inc. (U.S.), Flexeye Ltd. (U.K), Axway Inc. (U.S.), Intelligent InSites, Inc. (U.S.), Starview Inc. (U.S.), Oversight Systems, Inc. (U.S.), Space Time Insight, Inc. (U.S.), Software AG (Germany), OpenText Corporation (Canada) and VisionWaves B.V. (The Netherlands) among others.
Market Research Analysis
North America is estimated to account for the largest share of the market and is also projected to grow at the fastest rate during the forecast period. The market in North America is witnessing rapid growth due to advancements in technology and rise in demand for operational intelligence solutions across different industry verticals in this region. North America is expected to be the highest revenue generating region globally in operational intelligence market by the end of forecast period. Increasing demand for industrial operational intelligence solutions is another major factor driving the growth of operational intelligence market in the region.
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Operational Intelligence MarketThe global operational intelligence market is expected to achieve a CAGR of close to 12% during the forecast period (2017-2023), as per analysis by Market Research Future (MRFR).Growth Drivers and Key BarriersOperational intelligence market facilitates automation of the decision-making process, thus improving decision making, enhancing market responses, and also reducing process delays.
Operational intelligence solutions are used by organizations strategically for upgrading business processes and also enhance their performance.
Moreover, OI supports automation of data delivery and operational data collection, which consequently enhances the visibility of performance and brings down the operating costs of the overall process.Increasing adoption of big data as well as artificial intelligence in different industries, given the rising need for operational efficiency and accelerated demand for centralized control and monitoring systems, has benefited the operational intelligent market.
Some additional factors working in favor of the market include rising complexity of manufacturing process, advancement in technology, surge in adoption of operational intelligence in the financial sector.
The escalating demand for real-time remote monitoring of various industrial activities also stimulates market growth.Rising automation in industrial sectors in a bid to prevent mishaps and offer safety of employees and products results in growth of the operational intelligent market.
Having said that, evolving operational intelligent systems platform coupled with burgeoning amount of machine generated data is bound to offer a host of opportunities for the operational intelligent systems market to expand in the following years.The study of the operational intelligence market is based on deployment, type, vertical, and application.
Operational Intelligence MarketThe sudden challenges created by the ongoing COVID-19 are captured effectively to exhibit the long term growth projections in the MRFR report on Operational Intelligence Market.
The growth sectors of the Operational Intelligence Market are identified with precision for a better growth perspective.The global operational intelligence market is expected to achieve a CAGR of close to 12% during the forecast period (2017-2023), as per analysis by Market Research Future (MRFR).Growth Drivers and Key BarriersOperational intelligence market facilitates automation of the decision-making process, thus improving decision making, enhancing market responses, and also reducing process delays.
Operational intelligence solutions are used by organizations strategically for upgrading business processes and also enhance their performance.
Moreover, OI supports automation of data delivery and operational data collection, which consequently enhances the visibility of performance and brings down the operating costs of the overall process.Increasing adoption of big data as well as artificial intelligence in different industries, given the rising need for operational efficiency and accelerated demand for centralized control and monitoring systems, has benefited the operational intelligent market.
Some additional factors working in favor of the market include rising complexity of manufacturing process, advancement in technology, surge in adoption of operational intelligence in the financial sector.
The escalating demand for real-time remote monitoring of various industrial activities also stimulates market growth.Rising automation in industrial sectors in a bid to prevent mishaps and offer safety of employees and products results in growth of the operational intelligent market.
