Operational Intelligence Market Highlights
The global operational intelligence market is projected to witness a rapid growth during the forecast period owing to increasing demand for operational intelligence applications. Moreover, growing popularity of industrial operational intelligence solutions and business intelligence services is another major factor driving the growth of operational intelligence market.
The operational intelligence market by geography is segmented into North America, Europe, Asia Pacific, and the Rest of the World. The North America market is expected to witness significant growth in the global operational intelligence market during the forecast period. U.S. and Canada are anticipated to drive the growth of the operational intelligence market in North America owing to the presence of many established key players such as OpsVeda, Inc., Splunk Inc., SQLsteam, Vitria Technology, Inc., Axway Inc., Intelligent InSites, Inc., Starview Inc., Oversight Systems, Inc., and Space Time Insight, Inc. among others. Due to sustainable and well-established economies in the region, the market is likely to show immense growth in the coming future. Additionally, the region also has a well-established infrastructure, which allows a higher penetration of devices and ultimately provides better connectivity. The growth of the market is also attributed to easy accessibility of operational intelligence through mobile applications. Also, growing popularity of cloud-based analytical solutions is another major factor driving the market growth.
The global operational intelligence market is projected to reach USD 3.46 billion at a CAGR of over 12% by the end of the forecast period 2017-2023.
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Operational Intelligence Market Segmentation
The global operational intelligence market is segmented on the basis of the type, deployment, application and vertical. The vertical segment is classified into BFSI, healthcare, manufacturing, retail, automotive, oil gas, and others. Operational intelligence offers real-time monitoring capabilities for the organizations in order to make immediate decisions. This helps in improving the overall business processes of the organization and hence is boosting the growth of global operational intelligence market.
Some of the prominent players in the global operational intelligence market:
- 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)
- VisionWaves B.V. (The Netherlands)
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Market Research Analysis
North America is estimated to account for the largest share of the market and is also projected to grow at the fastest rate during the forecast period. The market in North America is witnessing rapid growth due to advancements in technology and rise in demand for operational intelligence solutions across different industry verticals in this region. North America is expected to be the highest revenue generating region globally in operational intelligence market by the end of forecast period. Increasing demand for industrial operational intelligence solutions is another major factor driving the growth of operational intelligence market in the region.
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