Global Insight Engines Market is valued approximately USD 1162.14 million in 2022 and is anticipated to grow with a healthy growth rate of more than 25.5% over the forecast period 2023-2030. The insight engines market refers to the industry focused on providing advanced search and data analysis solutions that enable organizations to extract meaningful insights from their vast amounts of data. Insight engines combine artificial intelligence (AI), natural language processing (NLP), and machine learning techniques to deliver powerful search capabilities and data analysis functionalities. The major driving factors for the Global Insight Engines Market are rising amount of data and growing IT investment in cognitive search. Moreover, rising initiatives by key market players and technological advancement in the market is creating lucrative growth opportunity for the market over the forecast period 2023-2030.
Accenture estimates that there are 44 zettabytes of data available, which is expanding quickly. Eighty percent of this data is unstructured (text documents, audio, video, emails, social media posts, etc.), and twenty percent is stored in some sort of structured system. The capacity to extract facts from documents and store those data somewhere for easy access is required in order to acquire insights from this enormous resource and pinpoint what a user or organisation requires. Search engine goliaths like Google and Bing accomplish this by storing such details in a 'knowledge graph,' which is appropriate for the search engines they have been using for many years. Along with this, an IT and services startup called KDNuggets predicts that businesses will spend 15% of their IT budgets on cloud-based solutions for cognitive search, analytics, and other services. By 2021, it was expected that this investment would increase to 35%. However, the high cost of Insight Engines stifles market growth throughout the forecast period of 2023-2030.
The key regions considered for the Global Insight Engines Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America is considered a prominent market for insight engines. The region is home to several major technology companies and has a mature technology infrastructure. The United States, in particular, has a strong presence of insight engine vendors and a high adoption rate of advanced search and analytics solutions. The Asia Pacific region is witnessing rapid growth in the adoption of insight engines. Countries like China, Japan, India, and Australia are investing in digital transformation initiatives and leveraging AI technologies to improve business operations. The region presents significant growth opportunities for insight engine vendors.
Major market players included in this report are:
- Elastic NV
- Attivio
- Coveo Solutions Inc.
- Sinequa
- IBM Corporation
- Lucidworks
- Dassault Systemes
- Mindbreeze GmbH
- Squirro
- Smartlogic Semantic AI
Recent Developments in the Market:
- In July 2020, Microsoft introduced a preview feature of text analytics for healthcare. This feature empowers developers to analyze and derive valuable insights from unstructured medical data.
Global Insight Engines Market Report Scope:
- Historical Data: 2020 - 2021
- Base Year for Estimation: 2022
- Forecast period: 2023-2030
- Report Coverage: Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
- Segments Covered: Component, Deployment Type, Size of the Enterprise, End-user Industry, Region
- Regional Scope: North America; Europe; Asia Pacific; Latin America; Middle East & Africa
- Customization Scope: Free report customization (equivalent up to 8 analyst's working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and Component offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Component:
By Deployment Type:
By Size of the Enterprise:
- Small and Medium-Sized Enterprises
- Large Enterprises
By End-user Industry:
- BFSI
- Retail
- IT and Telecom
By Region:
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Spain
- Italy
- ROE
- Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- RoAPAC
- Latin America
- Brazil
- Mexico
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
Table of Contents
Chapter 1. Executive Summary
- 1.1. Market Snapshot
- 1.2. Global & Segmental Market Estimates & Forecasts, 2020-2030 (USD Million)
- 1.2.1. Insight Engines Market, by Region, 2020-2030 (USD Million)
- 1.2.2. Insight Engines Market, by Component, 2020-2030 (USD Million)
- 1.2.3. Insight Engines Market, by Deployment Type, 2020-2030 (USD Million)
- 1.2.4. Insight Engines Market, by Size of the Enterprise, 2020-2030 (USD Million)
- 1.2.5. Insight Engines Market, by End-user Industry, 2020-2030 (USD Million)
- 1.3. Key Trends
- 1.4. Estimation Methodology
- 1.5. Research Assumption
Chapter 2. Global Insight Engines Market Definition and Scope
- 2.1. Objective of the Study
- 2.2. Market Definition & Scope
- 2.2.1. Industry Evolution
- 2.2.2. Scope of the Study
- 2.3. Years Considered for the Study
- 2.4. Currency Conversion Rates
Chapter 3. Global Insight Engines Market Dynamics
- 3.1. Insight Engines Market Impact Analysis (2020-2030)
- 3.1.1. Market Drivers
- 3.1.1.1. Increasing amount of data
- 3.1.1.2. Growing IT investment in cognitive search
- 3.1.2. Market Challenges
- 3.1.2.1. High Cost of Insight Engines
- 3.1.3. Market Opportunities
- 3.1.3.1. Advancements in Formulation
Chapter 4. Global Insight Engines Market Industry Analysis
- 4.1. Porter's 5 Force Model
- 4.1.1. Bargaining Power of Suppliers
- 4.1.2. Bargaining Power of Buyers
- 4.1.3. Threat of New Entrants
- 4.1.4. Threat of Substitutes
- 4.1.5. Competitive Rivalry
- 4.2. Porter's 5 Force Impact Analysis
- 4.3. PEST Analysis
- 4.3.1. Political
- 4.3.2. Economical
- 4.3.3. Social
- 4.3.4. Technological
- 4.3.5. Environmental
- 4.3.6. Legal
- 4.4. Top investment opportunity
- 4.5. Top winning strategies
- 4.6. COVID-19 Impact Analysis
- 4.7. Disruptive Trends
- 4.8. Industry Expert Perspective
- 4.9. Analyst Recommendation & Conclusion
Chapter 5. Global Insight Engines Market, by Component
- 5.1. Market Snapshot
- 5.2. Global Insight Engines Market by Component, Performance - Potential Analysis
- 5.3. Global Insight Engines Market Estimates & Forecasts by Component 2020-2030 (USD Million)
- 5.4. Insight Engines Market, Sub Segment Analysis
- 5.4.1. Software
- 5.4.2. Services
Chapter 6. Global Insight Engines Market, by Deployment Type
- 6.1. Market Snapshot
- 6.2. Global Insight Engines Market by Deployment Type, Performance - Potential Analysis
- 6.3. Global Insight Engines Market Estimates & Forecasts by Deployment Type 2020-2030 (USD Million)
- 6.4. Insight Engines Market, Sub Segment Analysis
- 6.4.1. On-premises
- 6.4.2. Cloud
Chapter 7. Global Insight Engines Market, by Size of the Enterprise
- 7.1. Market Snapshot
- 7.2. Global Insight Engines Market by Size of the Enterprise, Performance - Potential Analysis
- 7.3. Global Insight Engines Market Estimates & Forecasts by Size of the Enterprise 2020-2030 (USD Million)
- 7.4. Insight Engines Market, Sub Segment Analysis
- 7.4.1. Small and Medium-Sized Enterprises
- 7.4.2. Large Enterprises
Chapter 8. Global Insight Engines Market, by End-user Industry
- 8.1. Market Snapshot
- 8.2. Global Insight Engines Market by End-user Industry, Performance - Potential Analysis
- 8.3. Global Insight Engines Market Estimates & Forecasts by End-user Industry 2020-2030 (USD Million)
- 8.4. Insight Engines Market, Sub Segment Analysis
- 8.4.1. BFSI
- 8.4.2. Retail
- 8.4.3. IT and Telecom
Chapter 9. Global Insight Engines Market, Regional Analysis
- 9.1. Top Leading Countries
- 9.2. Top Emerging Countries
- 9.3. Insight Engines Market, Regional Market Snapshot
- 9.4. North America Insight Engines Market
- 9.4.1. U.S. Insight Engines Market
- 9.4.1.1. Component breakdown estimates & forecasts, 2020-2030
- 9.4.1.2. Deployment Type breakdown estimates & forecasts, 2020-2030
- 9.4.1.3. Size of the Enterprise breakdown estimates & forecasts, 2020-2030
- 9.4.1.4. End-user Industry breakdown estimates & forecasts, 2020-2030
- 9.4.2. Canada Insight Engines Market
- 9.5. Europe Insight Engines Market Snapshot
- 9.5.1. U.K. Insight Engines Market
- 9.5.2. Germany Insight Engines Market
- 9.5.3. France Insight Engines Market
- 9.5.4. Spain Insight Engines Market
- 9.5.5. Italy Insight Engines Market
- 9.5.6. Rest of Europe Insight Engines Market
- 9.6. Asia-Pacific Insight Engines Market Snapshot
- 9.6.1. China Insight Engines Market
- 9.6.2. India Insight Engines Market
- 9.6.3. Japan Insight Engines Market
- 9.6.4. Australia Insight Engines Market
- 9.6.5. South Korea Insight Engines Market
- 9.6.6. Rest of Asia Pacific Insight Engines Market
- 9.7. Latin America Insight Engines Market Snapshot
- 9.7.1. Brazil Insight Engines Market
- 9.7.2. Mexico Insight Engines Market
- 9.8. Middle East & Africa Insight Engines Market
- 9.8.1. Saudi Arabia Insight Engines Market
- 9.8.2. South Africa Insight Engines Market
- 9.8.3. Rest of Middle East & Africa Insight Engines Market
Chapter 10. Competitive Intelligence
- 10.1. Key Company SWOT Analysis
- 10.1.1. Company 1
- 10.1.2. Company 2
- 10.1.3. Company 3
- 10.2. Top Market Strategies
- 10.3. Company Profiles
- 10.3.1. Elastic NV
- 10.3.1.1. Key Information
- 10.3.1.2. Overview
- 10.3.1.3. Financial (Subject to Data Availability)
- 10.3.1.4. Product Summary
- 10.3.1.5. Recent Developments
- 10.3.2. Attivio
- 10.3.3. Coveo Solutions Inc.
- 10.3.4. Sinequa
- 10.3.5. IBM Corporation
- 10.3.6. Lucidworks
- 10.3.7. Dassault Systemes
- 10.3.8. Mindbreeze GmbH
- 10.3.9. Squirro
- 10.3.10. Smartlogic Semantic AI
Chapter 11. Research Process
- 11.1. Research Process
- 11.1.1. Data Mining
- 11.1.2. Analysis
- 11.1.3. Market Estimation
- 11.1.4. Validation
- 11.1.5. Publishing
- 11.2. Research Attributes
- 11.3. Research Assumption