Insights-as-a-Service Market: Industry Forecast (2024-2030) by Type, Deployment Model, Organization Size, Vertical, and Region

Insights-as-a-Service Market size was valued at USD 5.05 Bn. in 2023 and the total Insights-as-a-Service Market revenue is expected to grow by 23.73% from 2024 to 2030, reaching nearly USD 22.42 Bn.

Insights as a service refer to a cloud-based service that delivers insights to business corporations & also helps in providing the concrete steps that are required to influence these insights towards achieving business goals.
Report Scope:
The report provides a complete analysis of the global Insights-as-a-Service Market. The report estimates the Insights-as-a-Service market size, in terms of USD value from 2024 to 2030 base year is 2023. The report forecasts revenue growth at global, regional & country levels and provides a detailed analysis of the latest trends in each of the segments from 2024 to 2030. It offers a thorough qualitative & quantitative analysis of the global Insights-as-a-Service market.

Also provides an inclusive review of key market drivers, restraints, opportunities, challenges, and market trends of the Insights-as-a-Service market. The Report covers various important aspects of the market. The report consists of an analysis of the value chain, PESTLE Analysis, Porter’s Five Forces model, competitive landscape, Key players benchmarking (by Pricing, Investments, Expansion Plans, Physical Presence, and Presence in the Market).To know about the Research Methodology :- Request Free Sample Report
Insights-as-a-Service Market Dynamics:
Companies are using Insights as a Service Platform to achieve business goals
The field of big data analytics has grown significantly in recent years. Companies are given insights through insights-as-a-service solutions, enabling them to seize previously unimaginable opportunities. With the aid of corporate data like stocks, financial data & results, keyword performance, employee details, and business process data, it offers firms predictive analytics & business intelligence. Such information aids businesses in boosting product & service sales.

Additionally, it makes use of several data kinds, including company, usage, and syndicated data, and offers insights on ROI & significant decisions to be made in the future. Therefore, the demand for the insights-as-a-service platform is fueled by the fact that insights-as-a-service solutions enable businesses/SMEs to scale up to fulfill their business goals during the forecast period.

 
IoT Integration Generate Opportunities for Insights-as-a-Service Providers
The need for insights-as-a-service is expected to increase as IoT technology is increasingly adopted across a range of businesses. A cloud-based tool called insights-as-a-service is available to businesses and aids in boosting their return on investment. The integration of cutting-edge technologies like 5G and 4G internet across sectors is expected to increase demand for insights-as-a-service solutions. According to the IoT commercial adoption survey conducted by the New Eclipse Foundation, nearly 40% of industry leaders who took part in the survey reported that their firms were already implementing IoT solutions, while another 22% said they planned to do so in the upcoming years.
Additionally, IoT expenditure is expected to rise as 40% of firms aim to spend more on IoT solutions between 2023 and 2024. As a result, growing IoT usage will ultimately drive up demand for insights-as-a-service solutions during the forecast period.

 
Growing Use of Insights-as-a-Service from Small and Mid-sized Businesses
Cloud services & digital transformation assist businesses in becoming more agile, increasing ROI and efficiency, & reducing wasteful spending in small and mid-sized businesses. Implementation of insights-as-a-service grew as the use of remote work increased after the COVID-19 outbreak. The demand for remote & mobile access to apps, services, systems, and data both in the cloud and on-premises is anticipated to persist even after the epidemic has passed. For Instance, COVID-19 might have the most effect on remote work. Before the epidemic, about 5% of full-time workers with office employment did most of their work from home.

The new average for that percentage is probably going to be between 20 & 30 %, with variations between industries and occupations. Location won't matter as much when hiring. Geographic trends will accelerate & change as more white-collar employees move farther away from urban centers, to other states, and even beyond.

 
Insights-as-a-Service Solutions' Low Up-Front Cost and High ROI Drive Demand
IaaS is a tool that operates through the cloud & communicates with a business to process data. Businesses can deliver real-time insights & business intelligence while planning their next moves. IaaS improves data prioritizing based on gathered data and identifies obstacles that a business must overcome. It concentrates on the higher-level strategy & lowers internal costs, which leads to better decisions in the end. IaaS offers the business the most efficient way to collect insights, increasing overall investment returns. Additionally, IaaS has reduced upfront costs as compared to conventional data mining techniques. It is expected that demand for insights-as-a-service solutions would increase because of their low upfront cost & strong ROI.

 
The COVID-19 Crisis Affected Insights-as-a-Service Sales
Businesses operate differently as a result of the COVID-19 epidemic, and many have been forced to adopt business technology to facilitate distant work & social isolation. Due to the widespread pandemic crisis, more people are starting to work from home or other remote locations, which has considerably raised the need for cloud solutions & services. Additionally, businesses like Twitter, Shopify, & Dropbox have already made the transition to permanent work-from-home arrangements. As a result, a large number of businesses have started using cloud-based services. Additionally, this would open up opportunities for the insights as a service sector to grow.
Insights-as-a-Service Market Segment Analysis:
In the year 2023, the global demand for insights-as-a-Service is expected to grow by more than 71.6%, with the largest revenue share coming from the large business group. IaaS gives businesses the best way to get insights, which ultimately boosts the returns on all investments. Additionally, IaaS has reduced upfront costs as compared to conventional data mining techniques. Insights-as-a-service is thus in high demand in the major organisations segment due to its low upfront cost and strong return on investment.

BFSI segment held the largest share of the insights-as-a-service market and is forecast to grow at a CAGR of about 19.6% during the forecast period.

Numerous major suppliers all over the world provide clients with insights-as-a-service solutions, which improve their return on investment & customer lifecycle management. Along with the introduction of new suppliers in insights-as-a-service solutions, which has expanded recently, this has been one of the factors propelling the BFSI segment.
Insights-as-a-Service Market Regional Insights:
The Indonesian market is expected to grow at a CAGR of 34.9%, making it one of the top markets for insights-as-a-service during the forecast period. Internet users have climbed by 14.6%, according to a poll by the Indonesian Internet Service Providers Association (APJII). Moreover, the nation's internet penetration rate rose from 64.8% to 73.7%. Thus, if the country's internet usage increases, so will the demand for the insights-as-a-service product.

Government assistance will also become a key growth accelerator. For instance, to speed up the digital transition, the Indonesian government stated in August 2021 that it would allocate US$2.1 Bn in funding for ICT development. Solutions for insights-as-a-service are cloud-based, & the cloud directly depends on the infrastructure for internet connectivity available. As a result, encouraging government actions are anticipated to increase demand in the nation for insights-as-a-service.

U.S. market held the largest market share of insights-as-a-service in North America, & it is expected to grow at a CAGR of 22.7% during the forecast period. Due to factors including rising IoT usage, increased use of AI and ML in data analytics & rising investment in insights-as-a-service in the region, there is an increase in demand for insights-as-a-service in the US.

Additionally, the US has created the infrastructure for cloud-based solutions. Major tech firms with U.S. operations, like C3, AWS, & Google, advertise their products and analytics toolkits. These vendors provide cloud-based products or services that support SMEs' rapid growth. As a result, the increased usage of cloud computing solutions across all industries eventually increases demand for offerings that provide insights as a service.

The US government's strict rules & regulations for the development of ICT drive the need for insights-as-a-service in the nation. For instance, to hasten the adoption of the cloud, the US government implemented the CloudFirst policy in the year 2019, by the U.S. Federal Cloud Computing Strategy. Additionally, it encourages the development, administration, and application of new, cutting-edge technology. The US government's efforts to develop cutting-edge technology have increased the demand for insights-as-a-service.

Germany insights-as-a-service market held the largest share in Europe region, and it is expected to grow at a CAGR of almost 26.3% during the forecast period. The adoption of cutting-edge technology advances & telecommunications infrastructure is expected to be particularly high in Germany. Large telecom companies in the nation are more likely to be affected by this trend.

Artificial Intelligence (AI), Machine Learning (ML), and other digital technologies are pushing the boundaries of applications in the private, public, & social sectors in Germany thanks to the infrastructure that has been established for the adoption of new technologies. Insights-as-a-service solutions are therefore in high demand as a result of this.
Insights-as-a-Service Market Scope: Inquire before buying



Insights-as-a-Service Market


Report Coverage
Details


Base Year:
2023
Forecast Period:
2024-2030


Historical Data:
2018 to 2023
Market Size in 2023:
US $ 5.05 Bn.


Forecast Period 2024 to 2030 CAGR:
23.73%
Market Size in 2030:
US $ 22.42 Bn.


 Segments Covered:
by Type
Descriptive Insights
Predictive Insights
Prescriptive Insights


by Deployment Model
Public Cloud
Private Cloud
Hybrid Cloud


by Organization Size
Large Enterprise
Small & Medium Enterprise


by Vertical
BFSI
Healthcare & Life Sciences
Retail & Consumer Goods
Energy & Utilities
Manufacturing
Telecom & IT
Government & Public Sector
Others



Insights-as-a-Service Market, by Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina Rest of South America)
Insights-as-a-Service Market, Key Players are
1. Accenture Plc
2. Capegemini
3. Deloitte Touche Tohmatsu Limited
4. Dell
5. Microsoft Corporation
6. Good Data
7. Zephyr Health
8. Smartfocus
9. IBM Corporation
10. Tata Consultancy Services
11. Infosys
12. Oracle
13. NTT Data
14. International Business Machines Corporation
15. GAVS Technologies
16. NTT DATA, Inc.
17. Sisense Inc

FAQs:

1. What is the study period of the market?
Ans. The Global Insights-as-a-Service Market is studied from 2018-2030.

2. What is the growth rate of the Insights-as-a-Service Market?
Ans. The Insights-as-a-Service Market is growing at a CAGR of 23.73% over the forecast period.

3. What is the market size of the Insights-as-a-Service Market by 2030?
Ans. The market size of the Insights-as-a-Service Market by 2030 is expected to reach USD 22.42 Bn.

4. What is the forecast period for the Insights-as-a-Service Market?
Ans. The forecast period for the Insights-as-a-Service Market is 2024-2030.

5. What was the market size of the Insights-as-a-Service Market in 2023?
Ans. The market size of the Insights-as-a-Service Market in 2023 was valued at USD 5.05 Bn.