In a recent published report, Kenneth Research has updated the market report for Operational Intelligence Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Operational Intelligence Market products.
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The Operational Intelligence Market is estimated to record a significant growth throughout the forecast period. The ICT sector constitutes 4.8% of the European economy. Europe’s organization ERDF i.e. European Regional Development Fund has allotted approximately USD 23 billion for investments related to ICT during the funding period 2014-2020. ICT refers to the communication technologies including the internet, wireless networks, social networking, cell phones, video-conferencing, computers, software, and other media applications and services enabling users to access, retrieve, and manipulate information in a digital form.
Operational intelligence is expected to be the next generation of business intelligence. Business intelligence and operational intelligence are enabling businesses to undergo digital transformation by providing real-time decision-making via specific tools. Major factors driving the growth of operational intelligence market is the growing popularity of social media and integration of operational intelligence with the former. Increasing number of organizations are investing in cloud-based operational intelligence solutions and business intelligence services to improve their data handling and decision making capabilities.
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OpsVeda, Inc., Splunk Inc., Siemens AG, SQLsteam, Vitria Technology, Inc., Flexeye Ltd., and Axway Inc. are a few major players in the global operational intelligence market. Increasing demand for cloud-based analytical solutions and growing popularity of cloud computing is another major factor driving the growth of operational intelligence market.The operational intelligence market comprises of enterprise manufacturing operational intelligence, enterprise operational intelligence software, IT service intelligence and enterprise security on the basis of type. Among these, the segment enterprise operational intelligence software is expected to show major growth owing to the increased utilization of social media platforms to reach out to potential customers globally.
Region-wise analysis shows that the North American region holds the largest share of the market across the globe followed by Europe, and Asia Pacific. The U.S. and Canada are anticipated to drive the growth of operational intelligence market in the region. The region also has a well-established infrastructure, which allows faster implementation of advanced technologies.The global Operational Intelligence market is expected to grow at a CAGR of approximately 12% during the forecast period 2017-2023.
Key Players
Some of the prominent players in the global operational intelligence market are OpsVeda, Inc. (U.S.), Splunk Inc. (U.S.), Siemens AG (Germany), SQLsteam (U.S.), Vitria technology, Inc. (U.S.), Flexeye Ltd. (U.K), Axway Inc. (U.S.), Intelligent InSites, Inc. (U.S.), Starview Inc. (U.S.), Oversight Systems, Inc. (U.S.), Space Time Insight, Inc. (U.S.), Software AG (Germany), OpenText Corporation (Canada) and VisionWaves B.V. (The Netherlands) among others.
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Segments
The global operational intelligence market is segmented by type, deployment, application, and vertical. Based on the type, the market is segmented into enterprise manufacturing operational intelligence, enterprise operational intelligence software, IT service intelligence and enterprise security. Based on deployment, the market is segmented into the cloud and on-premise. Based on the application, the market is segmented into supply chain and logistics, assembly line quality assurance, preventive maintenance, exploration & production optimization, smart meter analysis and others. Whereas, based on vertical, the market is segmented into BFSI, healthcare, manufacturing, retail, automotive, oil & gas, and others.
Regional Analysis
The global operational intelligence market is studied in Asia Pacific, North America, Europe, and Rest of the World. North America is estimated to account for the largest share of the market, whereas, Asia Pacific region is expected to grow at the fastest rate during the forecast period. U.S. and Canada are expected to drive the growth of operational intelligence market in the North America region. The growth of the market in North America is attributed to advancements in technology and increased adoption of cloud computing applications across various industry verticals.
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Intended Audience
Technology Investors
Research/Consultancy Firms
Government Bodies
Consulting Service Providers
Solution Providers
Cloud Solution Providers
Cloud Service Providers
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