According to the latest research by SkyQuest Technology, the Global Competitive Intelligence Tools market was valued at USD 440.51 Million in 2021, and it is expected to reach USD 984.23 Million by 2028, with a CAGR of 12.25% during the forecast period of 2022 – 2028. The research provides up-to-date Competitive Intelligence Tools market analysis of the current market landscape, latest trends, drivers, and overall market environment.
The increase in awareness regarding the use of AI-based competitive intelligence tools is a major driving factor for the competitive intelligence tool market. A competitive intelligence tool is used by businesses to analyze, collect, and record the competitor’s data to gain a competitive advantage over it. The data collected by CI tools help to improve the company’s sales and design a better advertising campaign by management teams. These intelligence tools are used by various industries, as it delivers better reorganization and competitive actions which are used to learn more about competitor content, social media, and digital marketing strategy. These capabilities increase the use of CI tools that will drive the competitive intelligence market over the analysis period.
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The competitive intelligence tools market was dominated by cloud-based platforms in the year. Low cost operation and the small footprint of cloud-based hardware are major reasons for market dominance. Subscriptions and Subscriptions and SaaS are some examples of cloud-based products in the competitive intelligence tools market. The threat of data security and data privacy breaches is pushing the on-premise data storage facility to have control over generated data and secure it. These are all the services that are provided by the competitive intelligence tools market and will lead to market growth during the analysis period. The industrial sector would hold the dominant share of around 20% of the competitive intelligence tools market in 2021. Competitive intelligence tools integration with industrial operations has opened new perspectives for growth by increasing the adoption of competitive intelligence tools in manufacturing industries.
The use of competitive intelligence tools in the education sector has been set to grow at the highest CAGR during the analysis period. The increasing awareness of plagiarism and the growing adoption of online study are some of the reasons for the segmental growth. Integrating CI into corporate learning provides valuable employee performance data and minimizes online training costs while improving efficiency. These all will lead to fuel the demand for competitive intelligence tools market during the forecast period.
Read the market research report, “Global Competitive Intelligence Tools Market segmented By Type (On-premise, Cloud-based), By Application (BFSI, IT sector, Telecom sector, Automotive sector, Retail sector, Health care sector, Energy sector, Industrial sector, Education sector) & By Region – Forecast and Analysis 2022-2028” by SkyQuest
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The North American region held the major revenue share for the competitive intelligence tool market during the year 2021. The US is holding a large market share in the reason with the presence of large technology companies and huge investments into the industry innovation and data analytics tools and service’s growing demand are some major reasons for the dominance and seem to remain unchanged during the forecast period.
With an increasing number of industries and growing demand for mechanization, Europe and the Asia Pacific are expected to show rapid growth in the competitive intelligence tool market during the analysis period. The growing SMEs and various other industries such as health care, retail, and others are attracting huge investments from foreign companies globally. Which will propel the demand for competitive intelligence tools sector growth during the analysis period.
As a result of the domain’s technological nascence, no company currently wields significant influence, and the race to dominance has already started, with companies investing in multiple projects and acquiring a few on the way into the field. The top players in this market include Alphabet Inc. (US), Crunchbase (US), Semrush (US), Owler (US), Alexa Internet Inc. (US), Comintelli (Sweden), Talkwalker (Luxembourg), SpyFu (US), NetBase Solutions Inc. (US), Slintel Inc. (US), Consensus Point (US), Evalueserve (Switzerland), SimilarWeb (US), Digimind (US), CI Radar (US), Brandwatch (UK), Contify Inc. (India), Archintel (US).
The report published by SkyQuest Technology Consulting provides in-depth qualitative insights, historical data, and verifiable projections about Competitive Intelligence Tools Market Revenue. The projections featured in the report have been derived using proven research methodologies and assumptions.
Report Findings
● Drivers- The growing integration of AI in competitive intelligence tools is boosting market growth. Businesses these days are adapting competitive intelligence tools with artificial intelligence technology that allows them to gain an advantage over the competition in real-time. This technology helps by providing various effective diagnostic tools and monitoring the digital presence of competitors with ways to outperform them.
● Restraint- The growing concern over the accuracy of the data and insights generated by this system is also limiting the use of competitive intelligence tools. The high cost of procurement and less accuracy can make it a major restraint factor for the industry during the coming analysis period.
What does this Report Deliver?
● Market Estimation for 20+ Countries
● Competitive Intelligence Tools Market demand by Region, Sub-Region, and Country
● Customization on Segments, Regions, and Company Profiles
● 100+ tables, 150+ Figures
● Global, Regional, and Country specific Competitive Intelligence Tools Market Trends
● Comprehensive Mapping of Competitive Intelligence Tools Industry Parameters
● Attractive Investment Proposition in the Global Competitive Intelligence Tools Industry
● Competitive Strategies Adopted by Competitive Intelligence Tools Market Key Players
● Drivers, Restraints, Opportunities, Challenges, and the impact on the Competitive Intelligence Tools Market Size
● Market growth rate till 2028
● Regulatory scenario, regional dynamics, and Competitive Intelligence Tools market insights of leading countries in each region
● In-depth Market insights by Region and Country
● Market Segmentation Trend Analysis, Opportunities, and Growth
● Porter’s five force analysis to know the market’s condition
● Pricing Analysis and Competitive Intelligence Tools Market Sales
● Parent market analysis
● Product portfolio benchmarking
SkyQuest has segmented the Global Competitive Intelligence Tools Market based on Type, Application, and Region:
● Global Competitive Intelligence Tools Market by Type (Revenue, USD Million, 2021 – 2028)
o On-premise tools
o Cloud-Based tools
● Global Competitive Intelligence Tools Market by Application (Revenue, USD Million, 2021 – 2028)
o BFSI
o IT sector
o Telecom sector
o Automotive sector
o Retail sector
o Health care sector
o Energy sector
o Industrial sector
o Education sector
● Global Competitive Intelligence Tools Market By Region (Revenue, USD Million, 2021 – 2028)
o North America
US
Canada
o Europe
Germany
France
UK
Italy
Spain
Rest of Europe
o Asia Pacific
China
India
Japan
Rest of Asia Pacific
o Central & South America
Brazil
Rest of CSA
o Middle East & Africa
GCC Countries
South Africa
Rest of MEA
Key Players in the Global Competitive Intelligence Tools Market
● Alphabet Inc. (US)
● Crunchbase (US)
● Semrush (US)
● Owler (US)
● Alexa Internet Inc. (US)
● Comintelli (Sweden)
● Talkwalker (Luxembourg)
● SpyFu (US)
● NetBase Solutions Inc. (US)
● Slintel Inc. (US)
● Consensus Point (US)
● Evalueserve (Switzerland)
● SimilarWeb (US)
● Digimind (US)
● CI Radar (US)
● Brandwatch (UK)
● Contify Inc. (India)
● Archintel (US)
About Us-
SkyQuest Technology Group is a Global Market Intelligence, Innovation Management & Commercialization organization that connects innovation to new markets, networks & collaborators for achieving Sustainable Development Goals.
Contact Us-
SkyQuest Technology Consulting Pvt. Ltd.
1 Apache Way,
Westford,
Massachusetts 01886
USA (+1) 617-230-0741
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