Overview and Scope
Systems and applications that transform client digital usage data into useful insights are referred to as digital intelligence platforms. A digital intelligence platform is used to acquire various insights by analyzing data from digital sources. The user can utilize the digital intelligence platform to analyze customer behaviour on the website, mobile site, or mobile app and use that data to tailor their interactions with the user regardless of when, where, or how they connect with the user.
Sizing and Forecast
The digital intelligence platform market size has grown rapidly in recent years. It will grow from $15.42 billion in 2023 to $18.37 billion in 2024 at a compound annual growth rate (CAGR) of 19.1%. The growth in the historic period can be attributed to data explosion, growing online presence, evolving customer expectations, regulatory compliance, social media impact, demand for competitive insights, strategic marketing investments..
The digital intelligence platform market size is expected to see rapid growth in the next few years. It will grow to $36.72 billion in 2028 at a compound annual growth rate (CAGR) of 18.9%. The growth in the forecast period can be attributed to greater emphasis on privacy, continuous monitoring for compliance, customization for industry-specific needs, augmented analytics adoption, focus on actionable insights.. Major trends in the forecast period include real-time analytics, cybersecurity and data privacy, cloud computing adoption, automation and intelligent process automation (ipa), collaborative and open ecosystems..
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Segmentation & Regional Insights
The digital intelligence platform market covered in this report is segmented –
1) By Component: Data Management, Analytics, Performance monitoring tools, Engagement Optimization
2) By Enterprise Type: Small Enterprises, Medium and Large Enterprises
3) By Touchpoint: Web, Email, Mobile, Social Media, Company Website, Kiosks and Point-Of-Sale (POS)
4) By Industry Vertical: Manufacturing, Travel and Tourism, Media and Entertainment, Retail and E-Commerce, IT and Telecommunications, Healthcare and Life Sciences, Other Industries.
North America was the largest region in the digital intelligence platform market in 2023. The regions covered in the digital intelligence platform market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The increase in demand for mobile applications is significantly contributing to the growth of the digital intelligence platform market. A mobile application, more commonly known as an app is a category of software application created specifically to run on mobile devices like smartphones and tablets. Smartphone users download and rely on more mobile applications and every use case is getting a dedicated application for making it easier for mobile users to access that service. Digital intelligence platforms make use of user data generated from mobile phone apps to come up with useful insights for businesses on user engagement, customer preferences, and new trends. For instance, in 2022, according to Business Standard Private Limited, an Indian-based English-language daily edition newspaper published, the US users spent $8.5 billion on apps in 2021 on the top 100 non-game mobile apps offering subscriptions. Therefore, increasing demand for mobile applications will drive the digital intelligence platform market.
Key Industry Players
Major companies operating in the digital intelligence platform market report are Adobe Systems Inc., SAS Institute Inc., Google LLC, Evergage Inc., Mixpanel Inc., Webtrekk GmbH, New Relic Inc. ASA, Localytics Limited, International Business Machines Corporation, Cxense ASA, SAP SE, Upland Software Inc., Facebook Inc., Salesforce.com Inc., Optimizely Inc., Oracle Corporation, AlphaSense Inc., Vectra AI Inc., Databricks Inc., Insitro Inc., Abnormal Security Corp., Ambu A/S, Atom Medical Corp., Becton, Dickinson and Company, Carl Zeiss AG, DxNow Inc., Esco Micro Pte. Ltd., Fisher & Paykel Healthcare Limited, FUJIFILM Irvine Scientific Inc., Genea Biomedx UK Ltd., Gynotec B.V., Hamilton Thorne Ltd., IHMedical A/S, Inspiration Healthcare Group plc, InVitroCare Inc., Koninklijke Philips NV, Masimo Corp., MedGyn Products Inc., Natus Medical Incorporated, Phoenix Medical Systems (P) Ltd., Rocket Medical plc, SAR Healthline Pvt. Ltd., Thermo Fisher Scientific Inc., Utah Medical Products Inc., Vyaire Medical Inc., Vitro life Ltd.
The digital intelligence platform market report table of contents includes:
1. Executive Summary
2. Market Characteristics
3. Market Trends And Strategies
4. Impact Of COVID-19
5. Market Size And Growth
6. Segmentation
7. Regional And Country Analysis
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27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
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Market OverviewMarket 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 RestraintsThe global demand for artificial intelligence platforms is expected to see a rapid growth over the forecast period.
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.Segmental AnalysisThe 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.
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 BFSI vertical segment is estimated to dominate the market, owing to the increased focus on customer satisfaction by organizations in this industry.Regional AnalysisThe 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.
