Pune, India, Sept. 05, 2022 (GLOBE NEWSWIRE) -- The global competitive intelligence tools market size is expected to reach USD 82.0 million by 2027, exhibiting a CAGR of 10.3% during the forecast period [2022 - 2027]. The digital transformation coupled with heavy investment in analytics by companies can have an incredible effect on the global market, states Fortune Business Insights, in a report, titled "Competitive Intelligence Tools Market Size, Share &COVID-19 Impact Analysis, By Type, By Application, and Regional Forecast, 2020-2027." The market size stood at USD 37.6 million in 2019.
Key Development:
- April 2019: Digimind, Inc. announced a strategic partnership with Corpus Intelligence inventor, TrustedOut. Through the collobration, the companies intend to provide the business intelligence analysts, PR professionals, and brand safety managers media database. Besides, offering web crawling, machine learning, microservices, and big data to reduce human limitations.
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Report Scope:
| Report Coverage | Details |
| Forecast Period | 2022-2027 |
| Forecast Period 2022 to 2027 CAGR | 10.3 % |
| 2027 Value Projection | USD 82.0 Billion |
| Base Year | 2019 |
| Market Size in 2019 | USD 37.6 Billion |
| Historical Data for | 2016-2018 |
| No. of Pages | 120 |
| Segments covered | Type; Application; & Regional |
| Growth Drivers | Integration of Artificial Intelligence (AI) in Competitive Intelligence Tools to Boost Market Potential. |
| Incorrect Data Might Mislead Companies and Likely to Obstruct Market Growth |
Market Driver:
Integration of AI to Spur Excellent Market Openings
The growing focus on IT integrated tools among organizations will bolster the market's growth in the forthcoming years. Organizations are integrating AI capabilities alongside intelligence tools to gain information about competitors and business trends in real-time. Moreover, the integration of AI helps develops holistic solutions and a platform that offers efficient automation in the analytics process. AI-powered tools help in tracking competitor's entire digital footprint present over websites and on other portals. AI-based competitive intelligence can track data on the website or press release besides scanning customer's reviews on digital platforms. The natural language processing and deep learning tools examine and recognize sentiment, entities, categories, emotions, and topics in text with precision. Thus, the increasing utilization of AI-enabled competitive intelligence tools will have an excellent impact on the global Competitive Intelligence Tools Market.
The necessity for Intelligent Solutions to Encourage Business Amid Coronavirus
The requite for competitive intelligence (CI) and business intelligence (BI) tools to monitor, analyse, enhance decision-making capabilities and understand customer behaviour will create opportunities for the market during the pandemic. Enterprises are focused on deploying competitive intelligence solutions as it offers real-time monitoring to track business and comprehend industry scenario. For instance, in June 2020, Fornova Ltd., a London-based travel & hospitality intelligence software provider, launched a new innovative competitive Intelligence solution - "FornovaCI". The software will assist end-user to gain a competitive advantage and recognize opportunities during the pandemic.
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The catastrophe caused by coronavirus has disrupted the supply chain of every industry around the world. We understand that this health emergency has negatively impacted various sectors across the globe. Rising support from governments and several companies can help in the fight against this highly infectious virus. Some industries are struggling, and some are thriving. More or less, nearly every sector is estimated to be impacted by this pandemic.
We are making endless efforts to uplift businesses in this crucial need of the hour. Our expertise and experience can offer enormous benefits to help regain during this global pandemic.
Regional Analysis:
The emergence of New Enterprises to Support Expansion in Asia Pacific
The market for competitive intelligence tools in Asia Pacific is expected to observe a steady growth rate during the forecast period due to various countries such as China, India, Southeast Asia, Japan, and more. The surging industries and enterprises in these countries will enable speedy expansion of the market in Asia Pacific. China holds a massive share in the market due to a number of flourishing manufacturing, healthcare, and retail industries. Moreover, the introduction of new tools and analytics by emerging players will further bolster the growth of the region's market. For instance, in December 2019, Contify, Inc., an Indian AI-enabled CI solution provider, upgraded its CI offering with the launch of fully customizable portals. It is designed to drive faster access to relevant insights and storing data in a common platform for easy cross-reference.
The report on the competitive intelligence tools market incorporates:
- Grander insights into the market
- Insightful analysis of the segments
- Market drivers and restraints
- Comprehensive information about prominent players
- Prevailing regions
- COVID-19 extreme effect on the Competitive Intelligence Tools Market
Companies Profiled in Competitive Intelligence Tools Market Report:
- Alphabet Inc. (Google LLC) (California, United States)
- Crunchbase (California, United States)
- SEMrush (Massachusetts, United States)
- Owler (California, United States)
- Alexa Internet, Inc. (California, United States)
- Comintelli (Stockholm, Sweden)
- Talkwalker (Luxembourg)
- SpyFu (Arizona, United States)
- Crayon (Massachusetts, United States)
- NetBase Quid (California, United States)
- Slintel Inc. (California, United States)
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Major Points in TOC:
- Introduction
- Definition, By Segment
- Research Methodology/Approach
- Data Sources
- Key Takeaways
- Market Dynamics
- Macro and Micro Economic Indicators
- Drivers, Restraints, Opportunities and Trends
- Impact of COVID-19
- Short-term Impact
- Long-term Impact
- Competition Landscape
- Business Strategies Adopted by Key Players
- Consolidated SWOT Analysis of Key Players
- PESTLE Analysis
- Porter's Five Force Analysis
- Supply chain Analysis
- Global Competitive Intelligence Tool Key Players Market Share Insights and Analysis, 2019
- Key Market Insights and Strategic Recommendations
- Primary Interviewee's Key Responses
- Companies Profiled
- Overview
- Key Management
- Headquarters etc.
- Offerings/Business Segments
- Key Details
- Employee Size
- Key Financials
- Past and Current Revenue
- Gross Margin
- Geographical Share
- Business Segment Share
- Recent Developments
- Overview
- Annexure/Appendix
- Global Competitive Intelligence Tools Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2016-2027
- By Type (Value)
- On Premise
- Cloud-Based
- By Application (Value)
- BFSI
- IT & Telecom
- Automotive
- Retail
- Health Care
- Energy
- Industrial
- Education
- By Region (Value)
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- South America
- By Type (Value)
- North America Competitive Intelligence Tools Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2016-2027
- Global Competitive Intelligence Tools Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2016-2027
FAQs:
How much will the market be worth in the future?
By 2027, the market size is expected to reach USD 82.0 million.
At what compound annual growth rate (CAGR) will this market grow?
The market is expected to grow at a CAGR of 10.3% in the forecast period (2022-2027).
Which type segment is expected to lead the global market during the forecast period?
Within type, the cloud-based segment is expected to lead the market during the forecast period.
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