According to the latest research from SkyQuest Technology, the Global Competitive Intelligence Tools Market was valued at USD 440.51 Million in 2021, and it is projected to reach USD 984.23 Million by 2028, growing at a CAGR of 12.25% during the forecast period 2022-2028. The research provides an up-to-date analysis of the Competitive Intelligence Tools Market of the current market landscape, latest trends, drivers, and overall market environment.
Rising awareness of the use of AI-based competitive intelligence tools is a major driving factor for the competitive intelligence tools market. A competitive intelligence tool is used by companies to analyze, collect and record competitor data to gain a competitive advantage over the competitor. The data collected by the CI tools helps in improving the company’s sales and designing a better advertising campaign by the management teams. These intelligence tools are used by various industries as they provide 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 which will drive the competitive intelligence market over the analysis period.
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The market for competitive intelligence tools was dominated by cloud-based platforms over the year. Low cost operation and 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 breach drives the on-premises data storage facility to control the generated data and keep it secure. These are all the services that are provided by the Competitive Intelligence Tools market and will lead to the growth of the market over the analysis period. The industrial sector is expected to hold the dominant share of around 20% of the competitive intelligence tools market in 2021. The integration of competitive intelligence tools into industrial operations has opened new growth prospects by increasing the adoption of competitive intelligence tools in manufacturing industries.
The use of competitive intelligence tools in the education sector is expected to grow at the highest CAGR over the analysis period. Rising awareness of plagiarism and increasing adoption of online study are some of the reasons for segmental growth. Integrating CI into corporate learning provides valuable employee performance data and minimizes online training costs while improving efficiency. All this will lead to fueling the market demand for competitive intelligence tools over 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 retail, healthcare sector, energy sector, industrial sector, education sector) and by region – Forecast and analysis 2022-2028 » by SkyQuest
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The North American region held the major revenue share of the competitive intelligence tools market in the year 2021. The United States holds a large market share due to the presence of large technology companies and huge investments in industry innovation and data analytics tools and growing demand for services is one of the major reasons for the dominance and seems to remain unchanged during the forecast period.
With an increasing number of industries and increasing demand for mechanization, Europe and Asia-Pacific are expected to exhibit rapid growth in the competitive intelligence tools market over the analysis period. Growing SMEs and various other industries such as healthcare, retail and others are attracting huge investments from foreign companies globally. Which will propel the growth demand of Competitive Intelligence Tools industry over the analysis period.
Due to the technological birth of the field, no company currently wields significant influence, and the race for dominance has already begun, with companies investing in multiple projects and acquiring a few along the way. The major players in this market are Alphabet Inc. (US), Crunchbase (US), Semrush (US), Owler (US), Alexa Internet Inc. (US), Comintelli (Sweden ), Talkwalker (Luxembourg), SpyFu (United States). ), 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 revenue projections for the Competitive Intelligence Tools market. The projections presented in the report have been derived using proven research methodologies and assumptions.
● Drivers – Increasing integration of AI in competitive intelligence tools is driving the growth of the market. Businesses these days are adapting their competitive intelligence tools with artificial intelligence technology that allows them to gain an edge 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 – Growing concern about the accuracy of data and information generated by this system also limits the use of competitive intelligence tools. The high cost of supply and lower accuracy may make this a major constraining factor for the industry in the upcoming analysis period.
What does this report bring?
● Market estimate for more than 20 countries
● Competitive Intelligence Tools market demand by region, sub-region and country
● Customization of segments, regions and business profiles
● 100+ tables, 150+ numbers
● Global, regional and country level competitive intelligence tools market trends
● Complete mapping of competitive intelligence tools industry parameters
● Attractive investment proposition in the global competitive intelligence tools industry
● Competitive strategies adopted by key players in the competitive intelligence tools market
● Drivers, Restraints, Opportunities, Challenges and Impact on Competitive Intelligence Tools Market Size
● Market growth rate till 2028
● Regulatory scenario, regional dynamics and competitive intelligence tools market overview of major countries in each region
● Detailed market information by region and country
● Analysis of market segmentation trends, opportunities and growth
● Porter’s five forces analysis to know the state of the market
● Market sales of price analysis and competitive intelligence tools
● Parent market analysis
● Comparative analysis of the product portfolio
SkyQuest has segmented the global competitive intelligence tools market on the basis of type, application, and region:
● Global Competitive Intelligence Tools Market by Type (Revenue, USD Million, 2021-2028)
o On-site tools
o Cloud-based tools
● Global Competitive Intelligence Tools Market by Application (Revenue, USD Million, 2021-2028)
o IT sector
o Telecom sector
o Automotive sector
o Retail sector
o Health 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
The rest of Europe
Rest of Asia-Pacific
o Central and South America
Rest of CSA
o Middle East and Africa
Rest of MEA
Key Players of the Global Competitive Intelligence Tools Market
● Alphabet Inc. (USA)
● Crunchbase (USA)
● Semrush (USA)
● Owl (USA)
● Alexa Internet Inc. (USA)
● Comintelli (Sweden)
● Talkwalker (Luxembourg)
● SpyFu (US)
● NetBase Solutions Inc. (USA)
● Slintel Inc. (USA)
● Point of Consensus (United States)
● Evalueserve (Switzerland)
● SimilarWeb (US)
● Digimind (USA)
● CI Radar (USA)
● Brandwatch (UK)
● Contify Inc. (India)
● Archintel (USA)
SkyQuest Technology Group is a global market intelligence, innovation management and commercialization organization that connects innovation to new markets, networks and collaborators to achieve the Sustainable Development Goals.
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