Operational Intelligence (OI) Market to Surpass a value of USD 5.13 Billion by 2028, at a CAGR of 12.20% from 2022 – 2028 Thanks to Increasing Application of OI in Financial Services
SkyQuest’s recent market study on operational intelligence (OI) gives a comprehensive overview of the competitive landscape and emerging trends in the industry. It includes an in-depth examination of market size, share, growth, and profitability, alongside an assessment of the leading players and their strategies. The report also delves into pricing trends, market opportunities, and challenges, providing investors with the latest information and valuable insights to make informed decisions. With the report’s in-depth analysis, readers will stay ahead of the market trends and developments.
Westford, USANorth America emerges as the key region in the operational intelligence (OI) market, dr, Feb. 07, 2023 (GLOBE NEWSWIRE) — North America emerges as the key region in the operational intelligence (OI) market, driven by the expanding e-commerce industry and the increasing concern over security threats. OI is growing rapidly across various industries, especially in the financial services sector, where it monitors large amounts of real-time data and ensures the smooth operation of crucial systems. The logistics industry also benefits from OI by gaining real-time insights into its supply chain operations. In healthcare, the emphasis on patient-centered care is leading to the rising adoption of OI for improving resource utilization and streamlining workflows.
SkyQuest’s recent worldwide research found that 67% of retailers globally believe that utilizing information technology such as Big Data and analytics gives their companies an advantage over competitors, compared to 64% across all industries. The growing utilization of Big Data Analytics and the Internet of Things (IoT) by end-users is fueling the growth of the operational intelligence (OI) market.
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- Pages – 227
- Tables – 72
- Figures – 66
Operational Intelligence is a technology that revolves around collecting and analyzing data in real time to monitor business operations. This advanced approach leverages automated techniques such as AI, machine learning, and data warehousing to provide deeper insights into the functioning of IT systems. OI’s unique capabilities include generating reports on-demand, processing complex events, and presenting data in an easy-to-understand dashboard format. With its scalability and visual representation of data, OI enables organizations to identify activity patterns and prevent potential data breaches proactively.
Prominent Players in Operational Intelligence (OI) Market
- Axway Inc.
- OpenText Corp.
- Intelligent InSites Inc. (Infor)
- SAP SE
- Oversight Systems Inc.
- Software AG
- Hitachi Vantara Corporation
- Starview Inc.
- Splunk Inc.
- Turnberry Corporation
- International Business Machines Corporation (IBM)
- Space Time Insight Inc. (Nokia)
- Vitria Technology Inc.
- Space Time Insight Inc.
- RheinBrücke IT Consulting GmbH
Cloud Emerges as the Fastest Growing Deployment Segment owing to Its Increased Global Adoption
The cloud segment dominated the global operational intelligence (OI) market in 2021, capturing over 50%. The segment’s growth can be attributed to its advantages, including cost savings, increased accessibility, scalability, and centralized services. Companies are increasingly adopting cloud technology due to its additional benefits, including reduced costs, better accessibility, scalable solutions, and centralized services management.
North America is poised for substantial growth in the operational intelligence (OI) market due to its strong economy and robust infrastructure. It has led to widespread connectivity and easier accessing operational intelligence via mobile devices. Additionally, a rising trend of embracing cloud-based analytical solutions further drives the regional market growth.
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BFSI Segment to Capture Remarkable Revenue Share due to Growing Trend of Cloud Usage for Centralized Management
In 2021, the banking, financial services, and insurance (BFSI) sector held over 20% of the operational intelligence (OI) market. The growing trend of cloud adoption among banks drives this segment’s growth. An increasing number of financial institutions are transitioning their data, operations, and IT systems to the cloud to take advantage of the benefits of cloud computing, such as cost efficiency, ease of access, scalability, and centralized management.
The Asia-Pacific region is witnessing rapid growth in the operational intelligence market, making it one of the fastest-growing markets globally. This is because Asia-Pacific is one of the largest e-commerce hubs, particularly in China. The seamless integration of online retail, social communication, and payment in the country has created an environment where consumers are well-equipped for the next level of seamless and frictionless payments. In addition, the large number of internet buyers in China is another contributing factor to the growth of the operational intelligence market in the Asia-Pacific region.
The latest market research report on operational intelligence delves deep into the current state of the market and predicts its future growth trajectory. The study provides a comprehensive analysis of key players in the market, their strengths and weaknesses, their product portfolio and recent launches, and their strategic positioning. The report also examines the market’s potential for growth over the forecast period and highlights the most promising avenues for businesses.
Key Developments in the Operational Intelligence (OI) Market
- MiCiM, a UK-based provider of data center contracting and project management services, has recently acquired Operational Intelligence (OI), a firm offering training, consultancy, and commissioning services. The two companies have already collaborated on multiple data center projects, and the acquisition aims to enhance the services of both companies. With this move, MiCiM seeks to provide clients with comprehensive services throughout the project lifecycle.
- Cynthia.io, based in Los Angeles, recently announced the soft launch of its innovative cognitive search platform for B2B businesses. The platform features e-commerce and tailored industry applications, allowing companies to discover, analyze, and take action to enhance their product offerings and overall business intelligence. In addition, the company has received pre-seed funding from experienced technology investors, further supporting the development of its cutting-edge platform.
- Embraer recently announced the signing of an investment agreement to acquire a minority stake in XMobots, the largest drone company in Latin America based in São Carlos, São Paulo. The investment will be made through a fund with Embraer as the sole shareholder, with the option for further investment. The completion of the transaction is contingent upon fulfilling conditions and obtaining the necessary approvals that are typical in these types of deals.
- São Paulo-based internet service provider AmericaNet has continued its acquisition spree by acquiring another company, increasing its reach in the state’s interior. This marks the fourth acquisition made by AmericaNet in the current year, which is a significant feat given the current macroeconomic conditions. The company has been targeting smaller ISPs in its acquisition strategy, as they tend to be more susceptible to being acquired during times of high inflation and interest rates.
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Key Questions Answered in the Operational Intelligence (OI) Market
- What are the projected growth rate and estimated worth of the global operational intelligence (OI) market?
- What are the most notable trends currently shaping the OI market landscape?
- Who are the leading players making a significant impact in the target market?
- Which market segments and sub-segments are expected to lead the OI market in the coming years?
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