Increasing Demand for Customer-Centered Management Decisions to Fuel the Growth of the Insight-as-a-Service (IaaS) Market

The global Insight-as-a-Service (IaaS) market is projected to showcase considerable growth during the forecast period. The significant growth in the application of big data is one of the key drivers for global IaaS market. Various large organizations are using big data to derive precise solutions for specific business problems. The paradigm shift from the data to insights is becoming crucial owing to its effectiveness in the development of the new technology-enabled revenue cycles and customer management. The insight as a service plays a vital role in the data-driven industries such as BFSI, healthcare, retail & consumer goods, and media & communications among others that requires taking customer-centered decisions to stay competitive in the market. 

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Organizations are using branding and marketing management to augment the customer satisfaction; for the growth of the organization; and to take retention & profitability initiatives. Moreover, branding management facilitates organizations in brand and channel ratings across the digital, traditional, and social media to optimize the return on marketing investment. The insight-as-a-service provides comprehensive, integrated, and technologically-enabled insights by taking leverage of big data technology. Apart from brand and marketing management, organizations are implementing insights-as-a-service in their business functions for campaign management, loyalty management, customer lifecycle management, and market intelligence.

The Insight-as-a-Service is used for deploying customer lifecycle management by enhancing the customer’s experience with a brand of the specific company. This is done via product/service evaluation that includes purchasing, using, and maintaining loyalty to subscription for renewal or upgradation of the offered services. The modern business concept and market competition have made a significant shift in the overall economy from product-centric business to customer-centric business. Therefore, the growing utility of insight-as-a-service is propelling the growth of the global IaaS market.

Recent Activities

• In February 2019, Accenture PLC had made a minority equity investment in its partner firm Splice Machine. This investment was made to rapidly build and deploy predictive applications based on the Accenture Insight Platform to address several business functions. 
• In October 2018, Oracle had announced the delivery of Trifecta of Retail Insight with a new cloud service. This product was launched to capitalize on the growing demand for unstructured and structured data in the retail field. 

Current market trends covered in the market report

• Significant adoption of cloud services across the globe 
• Partnerships and collaborations & new solution launch- key drivers of competition in this market
• Shifting of the service-centric population to server-centric population 
• Asia-Pacific to show lucrative growth during the forecast year
• North America held the major share in the global IaaS market

Insight-as-a-Service Market Segmentation 

By End-User

• BFSI
• Healthcare
• IT & Telecom
• Others

By Service Type

• Revenue Cycle Management
• Branding & Marketing Solution
• Product Life Cycle Analysis
• Supply Chain Management
• Others

Insight-as-a-Service Market – Segment by Region 

North America           

• United States
• Canada

Europe

• Germany
• UK
• France
• Spain
• Italy
• Rest of Europe

Asia-Pacific    

• China
• Japan
• India
• Rest of Asia-Pacific

Rest of the World

• Latin America
• Middle-East, Africa

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