In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022. Purchasing power in the country is expected to fell nearly by 2.5%.
On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.
Insights-as-a-service refers to a cloud-based service which provides insights to business corporations and also helps in providing the concrete steps that are required to leverage these insights towards accomplishing the business goals. Insights-as-a-service is very different from SaaS (Software as a service), in such a way that SaaS only offers analytics and insights whereas insights-as-a-service offers action plans.
The insights-as-a-service market, in terms of value, is expected to grow rapidly during the forecasted period at a good CAGR. Business enterprises are focusing on cloud based services which creates market opportunity for infrastructure as a service providers to establish their presence in insights as a service market.
In terms of regional platform, North America holds the latest market share in insights-as-a-service market due to presence of large number of insights as a service provider. Most of the enterprises are driving towards cloud computing to increase their efficiency and data & information storage capacity. Most of the world’s largest technology key players are located in this region which makes the North America as the leading market for insights as a service. Asia Pacific is expected to be the fast growing market for insights-as-a-service in terms of revenue due to rising demand for the advanced technology in different sectors. Enterprises are more focused on cloud based collaboration software in order to provide better services to their customers which expected to drive the growth of insights as a service market in this region over the forecasted period. Increasing small and medium enterprises in emerging economies such as China and India helps to spur the market of insights as a service market in this region.CLICK TO DOWNLOAD FREE SAMPLE
Our-in depth analysis of the global insights-as-a-service market includes the following segments:
Global insights-as-a-service market is further classified on the basis of region as follows:
Modern era is ruled by big data and analytics. Most of the businesses across the globe face the challenge to how soak up the value from all the data that is being collected and then transform it into insights. Insights-as-a-service offers many advantages to companies that are using data to their benefit. Insights as a service offers many applications such as task specific analytics, an explicit description of the business process and vertical industry knowledge. These applications of insights as a service expected to drive the growth of insights as a service market globally over the forecasted period.
There are many ways that insights as a service can be offered such as business benchmarking, improving business productivity and business process improvement services. Business benchmarking services help corporations compare their businesses with their competitors who have hired the services of the same SaaS vendor. Insights as a service helps in improving business productivity by integrating syndicated data with client data and reducing client service request response time.
Organizations around the globe investing huge amount of money in the process of extracting actionable insights from the data and to do this at a reasonable cost, organizations need to have their infrastructure and resources. Insights as a service provide a timely solution at a lower cost which expected to fuel the growth of insights-as-a-service market over the forecasted period. Insights-as-a-service is not only used to drive information from data but also helps in finding other data sources that can help to answer specific business questions which also expected to drive the growth of insights-as-a-service market over the forecasted period. Insights-as-a-service depends on the Saas solutions for insights as well as the data which will act as a drawback in the growth of insights-as-a-service market over the forecasted period.