Market Research Future (MRFR), in its newly published research report, asserts that the global digital intelligence platform market 2020 is booming and expected to grow exponentially over the review period, recording a substantial market valuation and a healthy 20% CAGR in the forecast period.
Drivers and Restraints
The global demand for artificial intelligence platforms is expected to see a rapid growth over the forecast period. A major factor driving market growth is the growing proliferation of cloud-based technology and the rising acceptance of mobile devices. In addition, growing demand for the digital intelligence platform across various vertical industries such as BFSI, healthcare, manufacturing, retail, and IT & telecommunications is accelerating the growth of the global market for digital intelligence.
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The global digital intelligence platform market is segmented by touch point, component, organization size, and vertical.
Based on the component, the digital intelligence platform market is bifurcated into energy optimization, and analytics and data management.
Based on the touchpoint, the market is segmented into mobile, social media, email, company website, web, kiosk, and others. Due to growing adoption of mobile devices and their significant importance in making customer buying decisions, the mobile touchpoint segment is expected to lead the market over the forecast period.
Based on the organization size, the digital intelligence platform market is bifurcated into small and medium enterprises and large enterprises. The SME segment is estimated to grow at the highest rate during the forecast period. Digital intelligence platforms enable SMEs to maintain and enhance customer experience with the purpose to sustain in the market as well as to create competitive distinction among competitors.
Whereas, based on the vertical, the digital intelligence platform market is segmented into IT and telecommunication, BFSI, healthcare, retail and e-commerce, travel, public sector, and others. The other segment includes education, automotive, and manufacturing industries. The BFSI vertical segment is estimated to dominate the market, owing to the increased focus on customer satisfaction by organizations in this industry.
The geographical overview of the global market has been analyzed in four major regions, including North America, the Asia Pacific, Europe, and the rest of the world (Latin America, the Middle East, and Africa).
The North American artificial intelligence platform market is expected to see rapid growth and hold the largest market share during the forecast period. Due to the presence in this region of a large number of existing key players such as Adobe Systems, SAS Institute, IBM, Evergage, Google, Inc., Mixpanel, Optimizely, New Relic (U.S.) and Localytics (U.S.) the U.S. and Canada are expected to drive the growth of the North American digital intelligence platform market. Because of the drastic decline in the use of native applications and a considerable shift towards the region’s adoption of mobile applications, the market is likely to show huge growth in the near future. In addition, North America also has a well-established network that allows for greater smartphone penetration and eventually provides better connectivity. Two major factors accountable for the growth of the global digital intelligence platform market are the growing need for innovations and developments in the technology.
During the forecast period, Asia Pacific is expected to experience a relatively faster growth at the highest CAGR in the global digital intelligence platform market as compared to other regions, due to the growing growth of digital platforms across different companies in countries in the region.
The major market players operating in the global market as identified by MRFR are Adobe Systems (U.S.), New Relic (U.S.), SAS Institute (U.S.), IBM (U.S.), Evergage (U.S.), Google, Inc. (U.S.), Mixpanel (U.S.), Webtrekk GmbH (Germany), Optimizely (U.S.), Localytics (U.S.) and Cxense (Norway).
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