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 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 Barriers
Operational 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. But, lack of infrastructure and skilled professionals could work against the operational intelligent market in the near future. 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.
Market Segmentation
The worldwide operational intelligence market can be segregated with respect to type, deployment, application, and vertical.
Depending on the type, the market can be considered for enterprise operational intelligence software, enterprise manufacturing operational intelligence, IT service intelligence and enterprise security. The enterprise operational intelligence software could exhibit maximum growth in the coming years, thanks to the rising utilization of social media platforms that help reach potential customers around the world.
Deployment-wise, the market includes cloud and on-premise.
As per the application, the market has been segmented into supply chain and logistics, assembly line quality assurance, preventive maintenance, exploration & production optimization, smart meter analysis and others.
The market, with regard to the vertical, comprises healthcare, BFSI, retail, manufacturing, oil & gas, automotive, and others.
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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.
The new research report about the global operational intelligence market published by Market Research Future (MRFR) anticipates advancement for this market at 12% CAGR between 2017 and 2023.
By value, the market can be worth the USD 3.46 bn by the end of the forecast period.The vital factors for the global operational intelligence market growth include growing popularity (and use) of social media and the integration of operational intelligence with many social media applications.
Another market growth driver is the increasing number of organizations that are investing in cloud-based operational intelligence solutions and business intelligence services.
MRFR is exploring the features of these segments to understand market trends.The application-based segmentation of this market covers assembly line quality assurance, exploration & production optimization, preventive maintenance, smart meter analysis, supply chain & logistics, and others.Based on deployment, the market has been segmented into cloud deployment and on-premise deployment.
By type, the market has been segmented into enterprise manufacturing operational intelligence, enterprise operational intelligence software, enterprise security, and information technology (IT) service intelligence.In the context of vertical, the market can be segmented into Banking, financial services, and insurance (BFSI), automotive, healthcare, manufacturing, oil & gas, retail, and others.Regional SegmentationThe regional segmentation of the global operational intelligence market covers Asia Pacific, North America, Europe, and Rest of the World (RoW).Among these, North America is the largest regional market due to advancements in technology, presence of major service providers, well-established infrastructure, higher penetration of devices in USA & Canada, better connectivity, availability of high-speed internet, and lastly, increased adoption of cloud computing applications across various industry verticals.
Mexico is the third major country-specific market in this region after the USA and Canada.The Asia Pacific region is the fastest growing regional market due to rising IT industry in China and India, the growing number of mobile users, and increasing internet connectivity.
