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As companies realize the value of using data and analysis for informed decision-making, the Digital Intelligence Platform (DIP) industry is growing. Interest in sophisticated digital intelligence setups has risen as firms try to stay serious in the digital age. Key factors explain Digital Intelligence Platform market components.
Innovation's rapid growth shapes the market. Continuous advances in artificial intelligence, AI, and big data analysis enable Digital Intelligence Platforms to deliver increasingly sophisticated experiences and predictive analysis. This mechanical development meets businesses' growing expectations and supports arrangement supplier competition.
The growing volume and complexity of data from many businesses drives interest in Digital Intelligence Platforms. Companies manage massive amounts of structured and unstructured data, and using it for meaningful experiences is crucial. DIPs enable organizations to acquire, examine, and obtain valuable knowledge from many sources to make informed decisions and gain an edge.
The growing awareness of customer experience and dedication also affects the Digital Intelligence Platform's market. Companies realize that knowing customer behavior and preferences is essential for providing tailored services. With its ability to analyze client data and provide ongoing information, DIPs improve customer experiences and streamline marketing.
The Digital Intelligence Platform market is competitive due to both established and emerging companies. Layout innovation companies are adding digital intelligence to their product portfolios, while new companies are offering creative platforms with specific features. This dangerous scenario gives enterprises more options, driving growth and pushing Digital Intelligence Platforms.
Administrative events and information security concerns are shaping Digital Intelligence Platform markets. As state-run administrations worldwide enforce stronger consumer data protection rules, companies are focusing on consistency and data security. DIP merchants are responding to businesses' concerns and helping them use digital intelligence by adding robust security features and following standards.
Digital Intelligence Platform Market Highlights:
Digital Intelligence Platform Market Overview
Digital intelligence platforms are used to obtain real time business insights. They provide competitive differentiation and increasing customer retention activity. Digital intelligence platforms make use of data management tools, which are responsible for collecting, storing, and managing digital data of the consumers, which can be used for analyzing customer behavior to identify holistic behavior of customers.
Technology giants such as Adobe Systems, IBM, SAS Institute, Evergage, Google, Inc., Mixpanel, Optimizely, Webtrekk GmbH, New Relic, and Localytics are some of the major players in the digital intelligence platform market. SAS Institute is regarded as a strong performer among the vendors of digital intelligence platforms. The company focuses on providing digital intelligence platforms for small as well as large enterprises. Whereas, increasing need for optimizing digital experiences across various touch points is another major factor responsible for the growth of digital intelligence platform market.
Figure 1: Digital Intelligence Platform Market Size, 2022-2030 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Increasing demand for mobile applications and growing popularity of e-commerce and online shopping are other major factors driving the growth of the global digital intelligence platform market. Furthermore, increasing awareness regarding tracking customer transactions, recording sales, and obtaining customer insights to make better business decisions in real time is boosting the growth of the market. Increasing user base on social media is another major factor driving the growth of the global digital intelligence platform market. Moreover, with the help of web analytics, companies can analyze customer behavior and feedback obtained to drive customer-centric business decisions.
The global digital intelligence platform market has been segmented on the basis of component, touch point, organization size, and vertical. The touch point segment is further classified into mobile, social media, email, web, kiosk, company website, and others. However, the mobile touch point segment is expected to hold the major share of the market owing to the increasing adoption of mobile devices and their increasing importance in making purchase decisions by consumers. Whereas, the company websites segment is expected to grow at the highest rate during the forecast period owing to the ease at which consumer data can be collected from company websites. High adoption of contactless payments is one of major factors driving the growth of the global digital intelligence platform market.
The North American region holds the largest share of the market across the globe followed by Europe, and Asia Pacific region. The U.S. and Canada are dominating the North American market due to rising technological enhancements and increasing adoption of digital intelligence platforms and server-cloud enabled digital intelligence platforms in the region. The region also has a well-established infrastructure, which allows faster implementation of advanced technologies. Additionally, the growing use of NFC enabled mobile devices for different purposes is another major factor driving the growth of the digital intelligence platform market in the region.
The global digital intelligence platform market is expected to grow at a CAGR of approximately 17.90% during the forecast period 2022-2030.
Digital Intelligence Platform Market Key Players
Some of the prominent players in the global digital intelligence platform market are:
- Adobe Systems (U.S.)
- IBM (U.S.)
- Evergage (U.S.)
- Google, Inc. (U.S.)
- Mixpanel (U.S.)
- SAS Institute (U.S.)
- Optimizely (U.S.)
- Webtrekk GmbH (Germany)
- New Relic (U.S.)
- Localytics (U.S.)
- Cxense (Norway)
Market Segments
The global digital intelligence platform market is segmented by component, touch point, organization size, and vertical. Based on the component, the market is segmented into energy optimization, analytics and data management. Based on the touch point, the market is segmented into mobile, social media, email, web, kiosk, company website, and others. Based on the organization size, the market is segmented into small and medium enterprises, and large enterprises. Whereas, based on the vertical, the market is segmented into BFSI, healthcare, IT and telecommunication, retail and e-commerce, travel, public sector, and others.
Regional Analysis
The global digital intelligence platform market is studied for Asia Pacific, North America, Europe, and Rest of the World. North America is estimated to account for the largest share of the market, whereas Europe is projected to grow at the fastest rate during the forecast period. The North American market growth is attributed to technological advancements and increased adoption of mobile devices enabled with cloud based services across various industry verticals.
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