Global Operational Intelligence Market 2017-2021
Overview of the global operational intelligence (OI) market
Technavio’s market research analyst predicts the global operational intelligence (OI) market to grow steadily at a CAGR of above 12% by 2021. One of the primary drivers for this market is the increasing need for real-time decision-making. OI provides flexible, integrated, and real-time decision-making support to the top management in an organization. It improves responsiveness across an organization. Diverse elements of multinational environments, such as language, currency, and accounting standards, are covered in a single software package. Also, it provides better analysis and planning capabilities, enabling efficient management of business data. Enterprises can complete real-time data analysis along with real-time transaction processing, which allows them to be considered as real-time enterprises that can make quick data-driven decisions, provide immediate response to customer demands, and continuously improve on important processes. Other benefits such as competitive awareness, higher customer satisfaction through quicker response, reduced operational risks, and threat detection, will contribute significantly to the growth of the OI market during the forecast period.
One of the latest trends gaining traction in this market is the integration of OI with social media. Currently, organizations can share a detailed description of their products and services through social media to reach potential customers worldwide. Many large organizations and SMEs are adopting this technology to integrate and upgrade software to obtain the best ROI from social media platforms. Organizations are investing in cloud-based OI solutions and advanced analytics to improve their decision-making capability and are combining different tools for storing, accessing, and examining business data. Cloud-based analytics solutions provide a single source, which helps users to visualize and analyze a company's data source and generate queries without any assistance or technical guidance. With the increasing investments in cloud-based analytic solutions, the market share for OI is expected to grow significantly over the next few years.
Competitive landscape and key vendors
The global OI market is witnessing increased consolidation among vendors through a number of mergers and acquisitions. Established players are acquiring smaller vendors to expand their product portfolios and boost their market share. To gain a competitive advantage over their counterparts, leading application providers are acquiring advanced analytic capabilities which are resulting in increased consolidation in the market. Furthermore, owing to the complex demands from customers, many top-tier vendors include vertical- specific applications in their portfolios by developing industry-specific applications or by acquiring application-specific vendors. The competition in the market is expected to intensify as vendors are trying to withstand themselves by enhancing their existing products with advanced technology.
Leading vendors in the market are -
- Vitria Technology
Other prominent vendors in the operational intelligence market include Axway, IBENOX, Intelligent InSites, Kinaxis, OpsVeda, Oversight Systems, CACI, Space-Time Insight, SQLstream, IFS, and XMPro.
Segmentation by deployment type and analysis of the operational intelligence market
- Cloud based
During 2016, the on-premise OI segment dominated the operational intelligence market and accounted for a major part of the overall market share. In an on-premises deployment model, the software is purchased and installed on the user's server, and skilled IT professionals maintain it in the organization. As the rising number of enterprises have started adopting cloud-based OI solutions for their cost-effectiveness, agility, and flexibility, the market share for the on-premise deployment is expected to decline over the next few years.
Geographical segmentation and analysis of the operational intelligence market
In this market study, analysts have estimated the Americas to dominate the operational intelligence market during the forecast period. The US is considered to be the leading country in the global OI market because of the presence of major OI vendors. The market in the US has also witnessed the increased emergence of mobile and cloud-based OI solution providers over the past few years. The adoption of this technology would give the enterprises an opportunity to perform analysis and improve their efficiency. With the industry 4.0 revolution, several industry verticals have adopted advanced IT solutions, such as internet of things IoT, big data, and advanced analytics, and cloud computing solutions, leading to the generation of a massive amount of real-time data. This high volume of real-time data generation will induce growth in the region over the next few years.
Key questions answered in the report include
- What will the market size and the growth rate be in 2021?
- What are the key factors driving the global operational intelligence market?
- What are the key market trends impacting the growth of the global operational intelligence market?
- What are the challenges to market growth?
- Who are the key vendors in the global operational intelligence market?
- What are the market opportunities and threats faced by the vendors in the global operational intelligence market?
- Trending factors influencing the market shares of the Americas, APAC, and EMEA.
- What are the key outcomes of the five forces analysis of the global operational intelligence market?
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