Insights Engine Market Size Worth $14.74 Billion By 2032 | CAGR: 25.30%

The global insights engine market size is expected to reach USD 14.74 billion by 2032, according to a new study by Polaris Market Research. The report “Insight Engine Market Share, Size, Trends, Industry Analysis Report, By Component (Software, Services); By Deployment (Cloud, On-premise); By Enterprise Size; By Vertical; By Region, And Segment Forecasts, 2024 - 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.

An insights engine is a comprehensive platform designed to assist organizations in effectively managing and analyzing vast volumes of data from diverse sources, including databases, social media platforms, and other digital channels. It serves as a centralized repository for insights, facilitating the search, organization, discovery, and exploration of data within a unified and structured environment.

In the consumer goods and retail sectors, insight engines have gained significant popularity among vendors worldwide. These industries rely on insights engines to gain a deep and accurate understanding of customer preferences and tastes. By leveraging advanced analytics and predictive modeling, insight engines enable businesses to anticipate customer needs, personalize experiences, and enhance the relevance of search results.

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Insight engines represent a significant advancement in search technologies that leverage Machine Learning (ML) capabilities to enable proactive knowledge discovery and on-demand exploration. These engines utilize ML algorithms to mine, crawl, and index a wide range of data sources, both internal and external, structured, and unstructured, making a vast array of information easily accessible. In line with this, in November 2022, ProfitWheel company introduced 'consumer.ai,' which integrates a consumer intelligence platform. This platform harnesses real-time behavioral insights from consumers, acting as an intelligent layer that enhances existing audience-based platforms such as Google, Amazon, Meta, YouTube, and Programmatic, among others. By leveraging its audience graph, 'consumer.ai' provides in-depth audience insights, empowering businesses to make more informed decisions.

Advancements in machine learning, natural language processing, and deep learning have significantly enhanced the capabilities of insight engines. Industries such as banking, finance, healthcare, & retail are adopting these technologies to access relevant insights from diverse data sources, thereby enabling informed decision-making and improved client understanding. Insight engines leverage the power of artificial intelligence and machine learning to extract meaningful results from vast data repositories. In the banking sector, for example, these engines provide bankers with a holistic view by granting them access to various data sources. This comprehensive information includes risk analytics, industry blogs, & social media data, enabling bankers to make informed decisions and better understand their clients' needs.

Insights Engines Market Report Highlights

• Software segment accounted for highest share in 2022, owing to the advancements in data analysis, and search capabilities
• Customer experience segment led the revenue share, as it helps organizations in understanding customer’s business needs
• North America dominated the global market with substantial share in 2022, owing to surge in data, and rising need for data analysis in different forms
• The global key market players include Elasticsearch, International Business Machines Incorporation, Mindbreeze, Open Text Corporation, Expert.AI, Attivio, Coveo, Google, Sinequa, and Squirro AG

Polaris Market Research has segmented the insights engine market report based on component, deployment, enterprise size, application, vertical, and region:

Insights Engine, Component Outlook (Revenue - USD Billion, 2019 - 2032)

• Software
• Services

Insights Engine, Deployment Outlook (Revenue - USD Billion, 2019 - 2032)

• Cloud
• On-Premises

Insights Engine, Enterprise Size Outlook (Revenue - USD Billion, 2019 - 2032)

• Small & Medium Enterprises
• Large Enterprises

Insights Engine, Application Outlook (Revenue - USD Billion, 2019 - 2032)

• Workforce Management
• Customer Experience Management
• Sales & Marketing Management
• Risk & Compliance Management
• Others

Insights Engine, Vertical Outlook (Revenue - USD Billion, 2019 - 2032)

• BFSI
• IT & Telecom
• Retail & Ecommerce
• Healthcare
• Manufacturing
• Government
• Others

Insights Engine, Regional Outlook (Revenue - USD Billion, 2019 - 2032)

• North America

• U.S.
• Canada

• Europe

• Germany
• UK
• France
• Italy
• Spain
• Russia
• Netherlands

• Asia Pacific

• China
• India
• Japan
• South Korea
• Indonesia
• Malaysia

• Latin America

• Argentina
• Brazil
• Mexico

• Middle East & Africa

• UAE
• Saudi Arabia
• Israel
• South Africa

Insight Engines Market Report Scope