North America System of Insight Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Component (Solution and Services), Application (Customer Analytics, Workforce Management, Operations Management, Sales & Marketing Management, Risk & Compliance Management, and Other Applications), and Industry (BFSI, IT & Telecom, Manufacturing, Retail & E-commerce, Government & Defense, Healthcare & Life Sciences, and Other Industries)
Market Introduction
The North America system of insight market is a highly fragmented market with the presence of considerable regional and local players providing numerous solutions for companies investing in the market arena. Rising adoption of Internet of Things (IoT) and smart devices, and growing focus on analyzing huge data from multiple sources to gain real-time insights are the significant factors propelling the growth of the system of insight market in North America. Increasing demand for system of insight solution to predict system failure and customer behavior by gathering information and creating new pattern from available data to optimize customer experience is also a significant factor propelling the market growth in the region. Banks in the region acknowledge the importance of system of insight solutions and are progressively adopting and implementing these solutions, which, in turn propels the market growth. In BFSI sector, system of insight solution is used for real-time fraud detection, where it calculates a score and applies business rules to the transaction and defines the probability of fraudulent transaction. Additionally, during insurance claims intake, it collect and analyze streaming data, such as social media posts or geospatial data to help insurers discover fraud.
In North America, the US has witnessed an unprecedented rise in number of COVID-19 cases, which has led to the discontinuation of the IT software development activities. The downfall of the media and technology development sector has negatively impacted the demand for system of insight during the early months of 2020. Moreover, decline in overall telecommunication activities has led to the discontinuation of the system of insight projects. Similar trend has been witnessed in other North American countries, i.e., Mexico and Canada. However, the countries are likely to overcome these adversities with the economic activities regaining their pace, especially in the beginning of 2021.
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Market Overview and Dynamics
The system of insight market in North America is expected to grow from US$ 577.08 million in 2019 to US$ 1,865.81 million by 2027; it is estimated to grow at a CAGR of 16.0 % from 2020 to 2027. Technologies such as Artificial Intelligence (AI) are expected to bring new trends in the market. AI the foundation of the next gen of technologies, which provides the ability to learn from recorded data and experiences. It comprises the use of algorithms, patterns, and predictive insights. The technology optimizes customer experiences and transforms business processes. The Organization for Economic Co-operation and Development (OECD) aids governments by analyzing the socioeconomic impacts of AI technologies and engaging with all stakeholders in order to identify good practices for public policy. Several technologically advanced countries invest in AI to implement it in all the industries to obtain real-time information. In the US, combined R&D expenditure by Alphabet, IBM Corporation, Microsoft Corporation, Facebook, and Amazon was US$ 80.5 billion in 2018. AI has the ability to evaluate the huge volume of data, such as competitor data, offering predictive analytics. The technology also provides deep insights about target audiences of a particular business. By integrating AI with the system of insight solution, organizations capture high-quality data and provide businesses with real-time insights. Thus, with such huge spending and focus on AI technologies in various potential countries, the demand for system of insight is likely to surge in the near future.
Key Market Segments
Based on component, the solution segment accounted for the largest share of the North America system of insight market in 2019. Based application, the customer analytics segment held a larger market share of the North America system of insight market in 2019. Based on industry, the BFSI segment held a larger market share of the North America system of insight market in 2019. Systems of insight solution enhances the customer experience by influencing perception of customer with the company in numerous ways. The solution helps the business to care for high-value customers in their time of need, solve problems effectively, and disrupt the competition with unique experiences. System of insight solutions are growing at an exponential rate due to increasing focus on creating business value by applying analytics solutions; requirement for real-time actionable intelligence; and rise in demand for predictive analytics solutions. Several companies are highly engaged in offering systems of insight solutions to various industries to make a mark in the North America market.
Major Sources and Companies Listed
A few major primary and secondary sources referred to for preparing this report on the North America system of insight market are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are include GoodData Corporation; Inetco System Limited; Medallia Inc.; Ngdata Inc.; Oracle Corporation; Plutora Inc.; SAP SE; Signal Analytics, Inc.; SAS Institute Inc.; and Tibco Software Inc.
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North America System of Insight Market Segmentation
North America System of Insight Market - By Component
- Solution
- Services
North America System of insight Market - By Application
- Customer Analytics
- Workforce Management
- Operations Management
- Sales and Marketing Management
- Risk and Compliance Management
- Other Applications
North America System of Insight Market – By Industry
- BFSI
- IT and Telecom
- Manufacturing
- Retail and E-commerce
- Government and Defense
- Healthcare and Life Sciences
- Other Industries
North America System of Insight Market - By Country
- US
- Canada
- Mexico
North America System of Insight Market - Company Profiles
- GoodData Corporation
- Inetco System Limited
- Medallia Inc.
- Ngdata Inc.
- Oracle Corporation
- Plutora Inc.
- SAP SE
- Signal Analytics, Inc.
- SAS Institute Inc.
- Tibco Software Inc.
1. Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
1.3.1 System of Insight Market – By Component
1.3.2 System of Insight Market – By Application
1.3.3 System of Insight Market – By Industry
1.3.4 System of Insight Market- By Region
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. North America System of Insight Market Landscape
4.1 Market Overview
4.2 PEST Analysis
4.2.1 North America
4.3 Ecosystem Analysis
4.4 Expert Opinion
5. North America System of Insight Market – Key Market Dynamics
5.1 Market Drivers
5.1.1 Growing Volume of Big Data and Need for Analytics
5.1.2 Digital Transformation to Gain a Competitive Edge in the Market
5.2 Market Restraints
5.2.1 Lack of Awareness in Underdeveloped Countries
5.3 Future Trends
5.3.1 Increase in the Adoption of AI to Boost the Market Growth
5.4 Impact Analysis of Drivers and Restraints
6. System of Insight Market – North America Analysis
6.1 North America System of Insight Market Overview
6.2 North America System of Insight Market – Revenue and Forecast to 2027 (US$ Million)
7. North America System of Insight Market Analysis – By Component
7.1 Overview
7.2 System of Insight Market, By Component, 2019 & 2027
7.3 Solution
7.3.1 Overview
7.3.2 Solution: System of Insight Market– Revenue and Forecast to 2027 (US$ Million)
7.4 Services
7.4.1 Overview
7.4.2 Services: System of Insight Market– Revenue and Forecast to 2027 (US$ Million)
8. North America System of Insight Market Analysis – By Application
8.1 Overview
8.2 System of Insight Market, By Application, 2019 & 2027
8.3 Customer Analytics
8.3.1 Overview
8.3.2 Customer Analytics: System of Insight Market– Revenue and Forecast to 2027 (US$ Million)
8.4 Workforce Management
8.4.1 Overview
8.4.2 Workforce Management: System of Insight Market – Revenue and Forecast to 2027 (US$ Million)
8.5 Operations Management
8.5.1 Overview
8.5.2 Operations Management: System of Insight Market – Revenue and Forecast to 2027 (US$ Million)
8.6 Sales and Marketing Management
8.6.1 Overview
8.6.2 Sales and Marketing Management: System of Insight Market – Revenue and Forecast to 2027 (US$ Million)
8.7 Risk and Compliance Management
8.7.1 Overview
8.7.2 Risk and Compliance Management: System of Insight Market – Revenue and Forecast to 2027 (US$ Million)
8.8 Other Applications
8.8.1 Overview
8.8.2 Other Applications: System of Insight Market – Revenue and Forecast to 2027 (US$ Million)
9. North America System of Insight Market Analysis – By Industry
9.1 Overview
9.2 System of Insight Market Breakdown, by Industry, 2019 & 2027
9.3 BFSI
9.3.1 Overview
9.3.2 BFSI: System of Insight Market Revenue and Forecast to 2027 (US$ Million)
9.4 IT and Telecom
9.4.1 Overview
9.4.2 IT and Telecom: System of Insight Market Revenue and Forecast to 2027 (US$ Million)
9.5 Manufacturing
9.5.1 Overview
9.5.2 Manufacturing: System of Insight Market Revenue and Forecast to 2027 (US$ Million)
9.6 Retail and E-commerce
9.6.1 Overview
9.6.2 Retail and E-commerce: System of Insight Market Revenue and Forecast to 2027 (US$ Million)
9.7 Government and Defense
9.7.1 Overview
9.7.2 Government and Defense: System of Insight Market Revenue and Forecast to 2027 (US$ Million)
9.8 Healthcare and Life Sciences
9.8.1 Overview
9.8.2 Healthcare and Life Sciences: System of Insight Market Revenue and Forecast to 2027 (US$ Million)
9.9 Other Industries
9.9.1 Overview
9.9.2 Other industries: System of Insight Market Revenue and Forecast to 2027 (US$ Million)
10. North America System of Insight Market – Country Analysis
10.1 Overview
10.1.1 North America: System of Insight Market, by Key Country
10.1.1.1 US: System of Insight Market – Revenue and Forecast to 2027 (US$ Million)
10.1.1.1.1 US: System of Insight Market, by Component
10.1.1.1.2 US: System of Insight Market, by Application
10.1.1.1.3 US: System of Insight Market, by Industry
10.1.1.2 Canada: System of Insight Market – Revenue and Forecast to 2027 (US$ Million)
10.1.1.2.1 Canada: System of Insight Market, by Component
10.1.1.2.2 Canada: System of Insight Market, by Application
10.1.1.2.3 Canada: System of Insight Market, by Industry
10.1.1.3 Mexico: System of Insight Market – Revenue and Forecast to 2027 (US$ Million)
10.1.1.3.1 Mexico: System of Insight Market, by Component
10.1.1.3.2 Mexico: System of Insight Market, by Application
10.1.1.3.3 Mexico: System of Insight Market, by Industry
11. North America System of Insight Market- COVID-19 Impact Analysis
11.1 North America
12. Industry Landscape
12.1 Overview
12.2 Market Initiative
12.3 New Product Development
12.4 Merger and Acquisition
13. Company Profiles
13.1 GoodData Corporation
13.1.1 Key Facts
13.1.2 Business Description
13.1.3 Products and Services
13.1.4 Financial Overview
13.1.5 SWOT Analysis
13.1.6 Key Developments
13.2 INETCO Systems Limited
13.2.1 Key Facts
13.2.2 Business Description
13.2.3 Products and Services
13.2.4 Financial Overview
13.2.5 SWOT Analysis
13.2.6 Key Developments
13.3 Medallia Inc.
13.3.1 Key Facts
13.3.2 Business Description
13.3.3 Products and Services
13.3.4 Financial Overview
13.3.5 SWOT Analysis
13.3.6 Key Developments
13.4 NGDATA, Inc.
13.4.1 Key Facts
13.4.2 Business Description
13.4.3 Products and Services
13.4.4 Financial Overview
13.4.5 SWOT Analysis
13.4.6 Key Developments
13.5 Oracle Corporation
13.5.1 Key Facts
13.5.2 Business Description
13.5.3 Products and Services
13.5.4 Financial Overview
13.5.5 SWOT Analysis
13.5.6 Key Developments
13.6 Plutora, Inc.
13.6.1 Key Facts
13.6.2 Business Description
13.6.3 Products and Services
13.6.4 Financial Overview
13.6.5 SWOT Analysis
13.6.6 Key Developments
13.7 SAP SE
13.7.1 Key Facts
13.7.2 Business Description
13.7.3 Products and Services
13.7.4 Financial Overview
13.7.5 SWOT Analysis
13.7.6 Key Developments
13.8 Signals Analytics, Inc
13.8.1 Key Facts
13.8.2 Business Description
13.8.3 Products and Services
13.8.4 Financial Overview
13.8.5 SWOT Analysis
13.8.6 Key Developments
13.9 SAS Institute Inc.
13.9.1 Key Facts
13.9.2 Business Description
13.9.3 Products and Services
13.9.4 Financial Overview
13.9.5 SWOT Analysis
13.9.6 Key Developments
13.10 TIBCO Software Inc.
13.10.1 Key Facts
13.10.2 Business Description
13.10.3 Products and Services
13.10.4 Financial Overview
13.10.5 SWOT Analysis
13.10.6 Key Developments
14. Appendix
14.1 About the Insight Partners
14.2 Word Index
LIST OF TABLES
Table 1. North America System of Insight Market – Revenue and Forecast to 2027 (US$ Million)
Table 2. US: System of Insight Market, by Component –Revenue and Forecast to 2027 (US$ Million)
Table 3. US: System of Insight Market, by Application –Revenue and Forecast to 2027 (US$ Million)
Table 4. US: System of Insight Market, by Industry –Revenue and Forecast to 2027 (US$ Million)
Table 5. Canada: System of Insight Market, by Component –Revenue and Forecast to 2027 (US$ Million)
Table 6. Canada: System of Insight Market, by Application –Revenue and Forecast to 2027 (US$ Million)
Table 7. Canada: System of Insight Market, by Industry –Revenue and Forecast to 2027 (US$ Million)
Table 8. Mexico: System of Insight Market, by Component –Revenue and Forecast to 2027 (US$ Million)
Table 9. Mexico: System of Insight Market, by Application –Revenue and Forecast to 2027 (US$ Million)
Table 10. Mexico: System of Insight Market, by Industry –Revenue and Forecast to 2027 (US$ Million)
Table 11. List of Abbreviation
LIST OF FIGURES
Figure 1. System of Insight Market Segmentation
Figure 2. North America System of Insight Market Segmentation – By Country
Figure 3. North America System of Insight Market Overview
Figure 4. Solution Segment held the Largest Share of the North America System of Insight Market
Figure 5. Customer Analytics held the Largest Share of the North America System of Insight Market
Figure 6. BFSI held the Largest Share of the North America System of Insight Market
Figure 7. US held the Largest Share of the North America System of Insight Market
Figure 8. North America: PEST Analysis
Figure 9. System of Insight Market– Ecosystem Analysis
Figure 10. Expert Opinion
Figure 11. System of Insight Market: Impact Analysis of Drivers and Restraints
Figure 12. North America System of Insight Market – Revenue and Forecast to 2027 (US$ Million)
Figure 13. System of Insight Market Revenue Share, by Component (2019 and 2027)
Figure 14. Solution: System of Insight Market – Revenue and Forecast to 2027 (US$ Million)
Figure 15. Services: System of Insight Market – Revenue and Forecast to 2027 (US$ Million)
Figure 16. System of Insight Market Revenue Share, by Application (2019 and 2027)
Figure 17. Customer Analytics: System of Insight Market– Revenue and Forecast to 2027 (US$ Million)
Figure 18. Workforce Management: System of Insight Market– Revenue and Forecast to 2027 (US$ Million)
Figure 19. Operations Management: System of Insight Market– Revenue and Forecast to 2027 (US$ Million)
Figure 20. Sales and Marketing Management: System of Insight Market– Revenue and Forecast to 2027 (US$ Million)
Figure 21. Risk and Compliance Management: System of Insight Market– Revenue and Forecast to 2027 (US$ Million)
Figure 22. Other Applications: System of Insight Market– Revenue and Forecast to 2027 (US$ Million)
Figure 23. System of Insight Market Breakdown, by Industry (2019 and 2027)
Figure 24. BFSI: System of Insight Market Revenue and Forecast to 2027 (US$ Million)
Figure 25. IT and Telecom: System of Insight Market Revenue and Forecast To 2027 (US$ Million)
Figure 26. Manufacturing: System of Insight Market Revenue and Forecast To 2027 (US$ Million)
Figure 27. Retail and E-commerce: System of Insight Market Revenue and Forecast To 2027 (US$ Million)
Figure 28. Government and Defense: System of Insight Market Revenue and Forecast To 2027 (US$ Million)
Figure 29. Healthcare and Life Sciences: System of Insight Market Revenue and Forecast To 2027 (US$ Million)
Figure 30. Other Industries: System of Insight Market Revenue and Forecast To 2027 (US$ Million)
Figure 31. North America: System of Insight Market, by Key Country – Revenue (2019) (USD Million)
Figure 32. North America: System of Insight Market Revenue Share, by Key Country (2019 and 2027)
Figure 33. US: System of Insight Market – Revenue and Forecast To 2027 (US$ Million)
Figure 34. Canada: System of Insight Market – Revenue and Forecast To 2027 (US$ Million)
Figure 35. Mexico: System of Insight Market – Revenue and Forecast To 2027 (US$ Million)
Figure 36. Impact of COVID-19 Pandemic in North American Country Markets
- GoodData Corporation
- Inetco System Limited
- Medallia Inc.
- Ngdata Inc.
- Oracle Corporation
- Plutora Inc.
- SAP SE
- Signal Analytics, Inc.
- SAS Institute Inc.
- Tibco Software Inc.
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