Global Operational Intelligence (OI) Market

Global Operational Intelligence (OI) Market Size, Share, Growth Analysis, By Deployment Type(Cloud, On-Premise), By End-User(Retail, Manufacturing) - Industry Forecast 2024-2031

Report ID: SQMIG45F2122 | Region: Global | Published Date: February, 2024
Pages: 227 | Tables: 72 | Figures: 75

Global Operational Intelligence (OI) Market News

  • In January 2022, NetSpring Launched AI-Based Operational Intelligence Platform. The new operational intelligence platform uses artificial intelligence (AI) and machine learning (ML) to provide continuous actionable insights from streaming event data in motion and static reference data at rest, allowing for faster analytics and operational decision-making. The new platform continuously monitors all system events and notifies users in real time of abnormalities and patterns of interest in data.
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FAQs

Operational Intelligence (OI) Market size was valued at USD 2.3 billion in 2019 and is poised to grow from USD 2.55 billion in 2023 to USD 6.13 billion by 2031, growing at a CAGR of 11.08% in the forecast period (2024-2031).

The Operational Intelligence (OI) Market is fragmented in nature. The prominent players operating in the market are constantly adopting various growth strategies in order to stay afloat in the market. Product launches, innovations, mergers, and acquisitions, collaborations and partnerships, and intensive R&D are some of the growth strategies that are adopted by these key players to thrive in the competitive market. The key Operational Intelligence (OI) Market players are also constantly focused on R&D in order to supply industries with the most efficient and cost-effective solutions. 'Splunk Inc.', 'IBM Corporation', 'Oracle Corporation', 'SAP SE', 'Micro Focus International plc', 'TIBCO Software Inc.', 'Broadcom Inc.', 'Intel Corporation', 'Software AG', 'Axway Inc.', 'Flexera', 'CA Technologies', 'GoodData Corporation', 'SAS Institute Inc.', 'Hitachi Vantara LLC', 'Vitria Technology Inc.', 'OpsVeda, Inc.', 'Glassbeam, Inc.', 'SpaceTime Insight', 'Dell Technologies Inc.'

The market is being driven by the adoption of Big Data Analytics and the Internet of Things (IoT). Operational intelligence (OI) and analytics solutions have earned a significant market share in the last decade, owing to the rise of Big Data and the growing need to make key business decisions in a short amount of time. According to IBM, 62% of merchants believe that using data (Big Data and analytics) gives their businesses a competitive advantage. This number compares to 63% of responses from all industries.

The IT and telecommunications industries are expected to have a significant market share in the worldwide Operational Intelligence (OI) Market. BI is the combination of a business support system (BSS) with an operation support system (OSS) in the telecom industry to uncover new business opportunities and anticipate future results. As the ramifications of the pandemic COVID-19 resonate throughout the business, the healthcare industry is confronted with new concerns. However, in the long run, the healthcare business is expected to display significant tool usage.

Global Operational Intelligence (OI) Market is segmented into North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. In 2021, the Asia-Pacific region held the most substantial share of the global market. Asia-Pacific is one of the world’s most rapidly increasing markets for operational intelligence solutions. The region is home to one of the world’s greatest e-commerce markets. The Chinese e-commerce market is expected to grow by 41% in 2022. Online retail, social communication, and payments are all perfectly linked in China, and customers are ready for the next generation of frictionless, invisible payments, with the country having the most internet buyers. In 2021, China had 983.7 million internet users and 824.5 million digital buyers.

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