Global Competitive Intelligence Tools Market

Global Competitive Intelligence Tools Market Size, Share, Growth Analysis, By Type(On-premise tools, Cloud-Based tools), By Application(BFSI, IT sector) - Industry Forecast 2024-2031

Report ID: SQSG45C2012 | Region: Global | Published Date: February, 2024
Pages: 165 | Tables: 68 | Figures: 73

Global Competitive Intelligence Tools Market Dynamics

Competitive Intelligence Tools Market Driver

  • The growing integration of AI in competitive intelligence tools is boosting the Competitive Intelligence Tools 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.
  • Using various deep learning methods such as NLP, these competitive intelligence tools help to gain customer sentiment and interest in the company’s products and services by providing a competitive advantage to the user over others and helps drive the demand for the growth of the competitive intelligence tools market.

Competitive Intelligence Tools Market Restraint

  • Fewer awareness about the competitive intelligence tools and the hostile presence of these technologies in the developing economies is one of the major reasons for restraining the Competitive Intelligence Tools Market growth.
  • 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.
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FAQs

Global Competitive Intelligence Tools Market size was valued at USD 440.51 million in 2019 and is poised to grow from USD 494.47 million in 2023 to USD 1246.33 million by 2031, growing at a CAGR of 12.25% in the forecast period (2024-2031).

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. '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 (Israel)', 'Digimind (US)', 'CI Radar (US)', 'Brandwatch (UK)', 'Contify Inc. (India)', 'Archintel (US)'

The growing integration of AI in competitive intelligence tools is boosting the Competitive Intelligence Tools 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.

Search engine optimization solutions are one of the major services provided by the competitive intelligence tools market and are a growing trend globally. These services are used by many small and medium businesses to make their market presence and also develop brand value in the mind of customers.

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.

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