Global Insights-as-a-Service Market is valued approximately USD 4.11 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 23.5% over the forecast period 2023-2030. Insights-as-a-Service refers to the provision of data-driven insights and analytics as a service to businesses. It involves utilizing advanced data analytics techniques, such as machine learning, artificial intelligence, and big data analytics, to analyze large volumes of data and extract meaningful insights. The Insights-as-a-Service market is expanding because of factors such as rapid expansion of the IoT industry and rising adoption of Cloud platforms. These insights are then delivered to businesses in a consumable format, such as reports, dashboards, or visualizations. Its importance has progressively increased during the forecast period 2023-2030.
According to the Statista, the global market for industrial Internet of Things was sized at over USD 263 billion in 2021. The market is expected to grow in size in the coming years, reaching some USD 1.11 trillion by 2028. Furthermore, the global market for enterprise Internet of things is expected to grow to USD 483 billion in size by the end of 2027. The technology reached USD 201 billion in market revenue in 2022, and forecasts to grow up to USD 238 billion by 2023. Another important factor drives the Insights-as-a-Service market is increasing adoption of Cloud platforms. As cloud platforms offer the flexibility to scale resources up or down based on demand. This is crucial for Insights-as-a-Service, as data analysis often requires significant computational power. With cloud platforms, businesses can easily allocate additional computing resources when needed, enabling them to process large datasets and deliver insights efficiently. In addition, as per Statista, in 2022, Amazon Web Services was the most popular vendor in the cloud infrastructure services market, held around 32% of the total market share, followed by Microsoft Azure with a market share of 23%, and Google Cloud with a market share of 10%. In the fourth quarter of 2022, these three cloud vendors account for 65% of total global spending. Moreover, rising digitization and rapid urbanization is anticipated to create a lucrative growth opportunity for the market over the forecast period. However, growing concerns regarding data security and technical complexity stifles market growth throughout the forecast period of 2023-2030.
The key regions considered for the Global Insights-as-a-Service Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 owing to the growing demand from large enterprises and big data companies within the region. Furthermore, Asia Pacific is expected to grow significantly during the forecast period, owing to large investments made in the data-driven industries such as BFSI, retail & consumer goods, and media & communications in the region.
Major market player included in this report are:
Deloitte Touche Tohmatsu Limited
NTT DATA Corporation
Tata Consultancy Services Limited (TCS)
Recent Developments in the Market:
Ø In February 2023, Microsoft has announced the release of its next-generation hybrid cloud platform “Azure Operator Nexus” for communication service providers. Azure Operator Nexus will enable these businesses to execute carrier-grade workloads both on-premises and in Azure.
Global Insights-as-a-Service Market Report Scope:
ü Historical Data – 2020 – 2021
ü Base Year for Estimation – 2022
ü Forecast period – 2023-2030
ü Report Coverage – Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
ü Segments Covered – Type, Application, Industry Vertical, Deployment Type, Organization Size, Region
ü Regional Scope – North America; Europe; Asia Pacific; Latin America; Middle East & Africa
ü 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 product offerings of key players. The detailed segments and sub-segment of the market are explained below:
Revenue Cycle Management
Governance, Risk, and Compliance
Branding and Marketing Management
Customer Life Cycle Management
Supply Chain Management
By Industry Vertical
Healthcare and Life Sciences
Retail and Consumer Goods
Energy and Utilities
Telecommunication and IT
Government and Public Sector
By Deployment Type
By Organization Size
Small and Medium Enterprise (SME)
Middle East & Africa
Rest of Middle East & Africa