The collective intelligence platform market is projected to grow at a significant CAGR during the forecast period (2019-2025). The increasing traffic on social media platforms is anticipated to be a major factor to drive the global collective intelligence platform market. Nowadays, social media management applications are being increasingly used to get deep insights related to the target audience of businesses. This, in turn, is anticipated to promote the growth of the market. The collective intelligence (CI) or group intelligence refers to the intellect that comes through the collection, collaboration, collective efforts, and competition of many individuals. The collective intelligence platform has its utility in consensus decision making. 

Increasing internet usage and the growing utility of big data analytics are among the key factors that are promoting the growth of the global collective intelligence platform market.According to the World Economic Forum, the connected world is producing data at a pace that is unprecedented in human history. Currently, data is no longer utilized for covering past activities; it is facilitating the manufacturers in foreseeing risk, predicting future, improve customer experience, and understand their extended value chain. According to the organization in 2017, more than 4 billion people were connected to the internet compared to just 2.3 million in 1990. These billions of individuals are generating data every second, which has led to the growth of big data. 

Several researchers have discovered a potential connection between robust data management strategy and companies’ financial performance. This enables businesses to reach the market faster with products and services that are efficiently associated with customer needs. Thus, the increasing presence of big data and increasing internet usage are anticipated to create the demand for the collective intelligence platform for appropriate decision making which is anticipated to drive its market growth. 

Segmental Outlook  

The collective intelligence platform market is segmented on the basis of component and vertical. Based on the component, the market is bifurcated into software and services. Based on the component, the software is anticipated to hold considerable market share during the forecast period. Based on end-user, the market is segregated into Information Technology (IT)& telecom, travel & hospitality, healthcare & lifescience, retail, and others. Collective intelligence platform is used for various application such as customer experience management, sales and marketing management, competitive intelligence, risk management and fraud detection, public safety and law enforcement, and others. 

Retail will be a considerable segment by Vertical

Based on vertical, the retail segment is anticipated to hold considerable market share during the forecast period.This is due to the fact that the retail sector finds a significant application of collective intelligence platform. The retail sector uses the collective intelligence platform to improve the business solutions by analyzing unstructured data and comprehend customer’s behavior towards a particular product.

Global Collective Intelligence Platform Market Share by Vertical, 2018 (%)

Regional Outlook 

The global collective intelligence platform market is further segmented on the basis of geography including North America, Europe, Asia-Pacific, and Rest of the World. North America is anticipated to hold a major market share in the market during the forecast period. The well-established economy of the US aids the ground for the growth of the collective intelligence platform market.In the collective intelligence platform market, the US comprises a large sum of key market players, such as IBM Corp., Oracle Corp, Google LLC, and Salesforce.com, Inc., among others. The presence of key companies in the region along with the substantial focus of government in advancing the country’s infrastructure is further supporting the regional market growth. North America is followed by Europe and the Asia Pacific is projected to be the fastest-growing market during the forecasted period.

Global Collective Intelligence Platform Market Growth, by Region 2019-2025

Asia-Pacific will augment with the significant growth rate in the collective intelligence platform market 

Asia-Pacific is anticipated to grow at a considerable CAGR during the forecast period. The rising interest of emerging economies such as India and China towards the digitalization of different verticals such as BFSI, retail, travel, and hospitality among others is the major factor to promote the growth of the collective intelligence platform market in the region. The rising number of smartphone users in the region along with increasing net subscriptions is further supporting the growth of the collective intelligence platform market in Asia-Pacific.

Market Players Outlook

The major companies operating in the collective intelligence platform market include IBM Corp., Oracle Corp., SAP SE, Google LLC, SAS Institute Inc., Baynote Inc., Capgemini SE, Cindicator, Data Scout Digimand, and so on. The key players of the market are working on the development of a unique platform that can perform different functions at a single time. For this purpose, these players are actively adopting inorganic growth strategies such as mergers & acquisitions, collaboration, and partnerships to expand their product capabilities.

The Report Covers

• Market value data analysis of 2018 and forecast to 2025.
• Annualized market revenues ($ million) for each market segment.
• Country-wise analysis of major geographical regions.
• Key companies operating in the global collective intelligence platform market. Based on the availability of data, information related to pipeline products, and relevant news is also available in the report.
• Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
• Analysis of market-entry and market expansion strategies.
• Competitive strategies by identifying ‘who-stands-where’ in the market.