USD 440.51 Million
Report ID: SQSG45C2012 | Region: Global | Published Date: December, 2022 | Pages: 165
The Global Competitive Intelligence Tools Market was valued at USD 440.51 Million in 2021, and it is expected to reach a value of USD 984.23 Million by 2028, at a CAGR of 12.25% over the forecast period (2022 - 2028).
Competitive intelligence tools are used by businesses to analyze, collect, and record the competitor’s data to gain a competitive advantage over it. The gathered data from competitive intelligence tools help in improving company sales and designing a better advertisement campaign. These intelligence tools are used by various industries, as it provides better reorganization and competitive actions which are used to learn about competitors’ content marketing, social media marketing, and digital marketing strategy. These capabilities increase the use of CI tools that will drive the competitive intelligence market over the analysis period.
Global Market Size
USD 440.51 Million
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The Global Competitive Intelligence Tools Market is segmented based on Type, Application, and region. Based on Type, the Competitive Intelligence Tools Market is segmented into On-premise tools and cloud-Based tools. Based on Application, the market is segmented into BFSI, IT sector, Telecom sector, Automotive sector, Retail sector, Health care sector, Energy sector, Industrial sector, and Education sector. Based on region, the global Competitive Intelligence Tools market is segmented into North America, Europe, Asia-Pacific, South America, and MEA.
Analysis by Type
In 2021, the Competitive Intelligence Tools Market was dominated by cloud-based platforms for the competitive intelligence tools market. The low-cost operation and low space demand of cloud-based hardware are the major reasons for the dominance of the market. Subscriptions and software as a service are some of the examples of cloud-based products in the competitive intelligence tool 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 Competitive Intelligence Tools Market growth during the analysis period.
Analysis by Applications
The competitive intelligence tool market is segmented into BFSI, IT sector, Telecom sector, Automotive sector, Retail sector, Health care sector, Energy sector, Industrial sector, and Education sector based on its applications. The industrial sector is dominating the market with 20% of the Competitive Intelligence Tools Market share in the competitive intelligence tools market in the year 2021 and is expected to hold the same during the analysis period. 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 seen tremendous growth lately. The increasing awareness of plagiarism and the growing adoption of online study are some of the reasons for the segmental growth. The integration of competitive intelligence tools in corporate learning offers valuable data on employee performance and minimizes the online training cost while improving efficiency. These all will lead to fuel the demand for competitive intelligence tools market during the forecast period.
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The North American region is expected to hold the dominating revenue share in the competitive intelligence tool market during the year 2021 and is expected to hold the same throughout the analysis period. Data analytics tools and service’s growing demand are some of the major reasons for driving the demand for competitive intelligence tools in the region. The US is holding a large Competitive Intelligence Tools Market share because of the presence of large technology companies and huge investments into industry innovation are some of the main reasons for the dominance and seem to remain unchanged during the forecast period.
Europe and the Asia Pacific are expected to show rapid growth in the competitive intelligence tool market during the analysis period. With an increasing number of industries and growing demand mechanization is likely to boost the market growth. 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.
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The Competitive Intelligence Tools market is relatively fragmented, with high competition. Few large players, like Alphabet Inc., Crunchbase, and Similar Web, now control the market in terms of market share. These industry leaders are extending their customer base across several areas, and many corporations are creating strategic and collaborative initiatives with other start-up enterprises to enhance their Competitive Intelligence Tools Market share and profitability.
Top Player’s Company Profiles
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our analysis, the Competitive Intelligence Tools Market was dominated by cloud-based software and services for the competitive intelligence tools market. The low-cost operation and low space demand of cloud-based hardware are the major reason for the dominance of the Competitive Intelligence Tools Market and the industrial sector is said to hold the dominating stake of about 20% in the competitive intelligence tools Competitive Intelligence Tools Market in the year 2021. The US is holding a large market share because of the presence of large technology companies and huge investments into the innovation of the sector are some of the major reasons for dominance and are likely to continue the same during the forecast period.
|Market size value in 2021||USD 440.51 Million|
|Market size value in 2028||USD 984.23 Million|
|Forecast period||2022 - 2028|
|Forecast Unit (Value)||USD Million|
|Regions covered||North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)|
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Parent Market Analysis
KEY MARKET INSIGHTS
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Global Competitive Intelligence Tools Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Competitive Intelligence Tools Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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