The Latest Market Intelligence Industry Statistics Explained
The global market intelligence market is expected to be valued at USD 9.28 billion by 2026, exhibiting a CAGR of 5.2% during the forecast period.
The statistic indicates that the global market intelligence market is projected to reach a value of USD 9.28 billion by the year 2026, with a Compound Annual Growth Rate (CAGR) of 5.2% over the forecast period. This suggests that the market for market intelligence services is expected to experience steady growth over the coming years. The CAGR of 5.2% signifies the average annual growth rate of the market size from the base year to the target year, highlighting a positive outlook for the industry. This growth may be driven by factors such as increasing demand for data-driven insights, technological advancements in data analytics, and a growing focus on understanding consumer behavior and market trends.
North America held the largest market share in 2019.
The statistic “North America held the largest market share in 2019” indicates that among all regions or markets analyzed, North America had the highest proportion of the total market size in that particular year. This suggests that North America dominated the market in terms of sales, revenue, or other relevant metrics in 2019 compared to other regions such as Europe, Asia, or others. This information is crucial for businesses and policymakers to understand the market dynamics and target their strategies and investments towards this region for optimal growth and competitiveness.
The sales & marketing business function is expected to register the highest CAGR of 11.3% from 2020 to 2027.
This statistic suggests that the sales and marketing business function is forecasted to experience the highest Compound Annual Growth Rate (CAGR) of 11.3% over the period from 2020 to 2027. A CAGR of 11.3% implies that the sales and marketing sector is expected to grow steadily at an average annual rate of 11.3% during this time frame. This forecast indicates that the sales and marketing function is likely to see significant expansion and increased investment, outpacing other business functions in terms of growth potential. Organizations within this industry may seize opportunities for revenue generation, market expansion, and innovation in response to evolving consumer demands, technological advancements, and competitive landscapes.
The Asia-Pacific region is expected to grow at a significant rate owing to the increasing adoption of advanced technologies.
The statement suggests that the Asia-Pacific region is projected to experience notable growth in its economy due to the rising popularity of advanced technologies within the area. This implies that industries within the region are increasingly embracing innovative technologies, which could lead to improvements in productivity, efficiency, and competitiveness. As a result, businesses operating in the Asia-Pacific region may benefit from this trend by capitalizing on the opportunities presented by the adoption of advanced technologies. Overall, this statistic indicates a positive outlook for economic development and expansion in the Asia-Pacific region driven by technological advancements.
The manufacturing end-use segment held the largest market share in 2019.
The statement “The manufacturing end-use segment held the largest market share in 2019” indicates that among all end-use segments within a particular market, the manufacturing sector had the highest proportion of market share in the year 2019. This suggests that manufacturing activities, such as production of goods and materials, dominated the market compared to other sectors like agriculture, services, or construction. The statistic provides valuable insight into the distribution of market activity and underscores the significance of the manufacturing industry in influencing overall market trends and dynamics during that specific time period.
By 2026, the manufacturing segment is projected to hold 33.11% of the market share in the market intelligence industry.
The statistic indicates that by the year 2026, the manufacturing segment is expected to capture a market share of 33.11% within the market intelligence industry. This projection suggests that the manufacturing segment will have a significant presence and influence within the industry landscape. It implies that companies providing market intelligence services tailored to the manufacturing sector are anticipated to experience growth and demand for their offerings over the coming years. This statistic is valuable for market analysts, industry stakeholders, and decision-makers as it provides insight into the expected market dynamics and competitive positioning of the manufacturing segment in the context of market intelligence services by 2026.
Roughly 54% of companies rely on market intelligence for strategic decision-making.
The statistic stating that roughly 54% of companies rely on market intelligence for strategic decision-making indicates that a significant proportion of organizations understand the value of gathering and analyzing information about the market in which they operate. Market intelligence encompasses the collection and analysis of data related to customers, competitors, and industry trends to inform decision-making processes. This statistic suggests that a majority of companies recognize the importance of leveraging market insights to make informed strategic choices, allowing them to stay competitive and responsive to changes in the business environment. By incorporating market intelligence into their decision-making processes, these organizations are likely to have a better understanding of market dynamics and be more equipped to capitalize on emerging opportunities while mitigating risks.
The IT & telecommunication segment in the market intelligence industry is projected to expand at an annual growth rate of 11.1% during 2020-2027.
This statistic indicates that the IT & telecommunication segment within the market intelligence industry is expected to experience significant growth over the period of 2020 to 2027, with an annual growth rate of 11.1%. This projection suggests that there is a strong demand and potential for growth within this particular sector, likely driven by factors such as advancements in technology, increasing adoption of digital services, and expanding global connectivity. Companies operating in this segment should be well positioned to capitalize on these growth opportunities, potentially leading to increased market share, revenue, and profitability in the coming years.
The global market intelligence platform market is projected to reach $2 billion by 2024, at a CAGR of 18.2%.
The statistic indicates that the global market intelligence platform market is expected to grow significantly, reaching a total value of $2 billion by the year 2024. This growth is projected to occur at a compound annual growth rate (CAGR) of 18.2%, reflecting a strong and steady increase in market size over the forecast period. The high CAGR suggests a healthy demand for market intelligence platforms, likely driven by increasing adoption of data-driven decision-making processes by businesses across various industries globally. This projection highlights the market’s potential for expansion and the importance of market intelligence tools in today’s competitive business landscape.
The BFSI sector accounts for 24.5% of the global market intelligence market.
The statistic that the BFSI (Banking, Financial Services, and Insurance) sector accounts for 24.5% of the global market intelligence market indicates the significant presence and impact of this industry within the market intelligence sector. This suggests that nearly a quarter of the market intelligence services and solutions are utilized by organizations operating in the BFSI sector. Given the critical role of market intelligence in helping organizations make informed decisions, this statistic reflects the industry’s recognition of the importance of data-driven insights and strategic planning. The prominence of the BFSI sector in the market intelligence market underscores its reliance on data analytics, competitive insights, and market trends to drive innovation, enhance risk management, and maintain competitiveness within the ever-evolving financial services landscape.
Competitive intelligence, a segment of the market intelligence industry, is expected to grow at a CAGR of 10.9% by 2025.
The statistic indicates that the segment of competitive intelligence within the market intelligence industry is projected to experience a Compound Annual Growth Rate (CAGR) of 10.9% by the year 2025. This suggests that the demand for competitive intelligence services, which involve gathering and analyzing information about competitors, market trends, and industry developments to make strategic business decisions, is expected to steadily increase over the coming years. The growth rate highlights the importance that businesses are placing on staying ahead of competition and making informed decisions based on a comprehensive understanding of the market landscape.
Around58% of organizations use some form of market intelligence tool.
The statistic “Around 58% of organizations use some form of market intelligence tool” indicates that a majority of organizations across various industries have recognized the importance of utilizing market intelligence to inform their strategic decision-making processes. Market intelligence tools are designed to gather, analyze, and interpret data related to market trends, customer preferences, and competitive landscapes, helping businesses gain a competitive edge and enhance their overall performance. This statistic suggests that market intelligence tools have become a widely adopted practice among businesses seeking to stay competitive and make informed decisions in today’s dynamic and rapidly changing market environments.
By 2027, the global demand for market intelligence is projected to reach $5.2 billion.
The statistic “By 2027, the global demand for market intelligence is projected to reach $5.2 billion” refers to the anticipated market size for services related to gathering, analyzing, and interpreting market data and information for informed decision-making by businesses and organizations worldwide. This projection suggests a growing awareness and importance of market intelligence in strategic planning and competitive advantage. As the business landscape becomes increasingly complex and competitive, there is a growing need for actionable insights derived from data and trends to make informed decisions. The $5.2 billion estimation indicates the substantial and increasing investments being made in market intelligence solutions and highlights the value that organizations place on staying ahead in a rapidly evolving global market.
The automotive sector is expected to witness the highest CAGR in the market intelligence market over the forecast period.
This statistic signifies that the automotive sector is projected to experience the highest compound annual growth rate (CAGR) among all industries within the market intelligence market over the specified forecast period. A high CAGR indicates a significant increase in growth rates, implying that the automotive sector is anticipated to outperform other sectors in terms of market expansion and development of market intelligence tools and services. This suggests a rising demand for market intelligence solutions within the automotive industry, potentially driven by factors such as technological advancements, increasing competition, shifting consumer preferences, and the need for data-driven decision-making processes. Overall, this statistic underscores the strategic importance of market intelligence in guiding the business decisions and strategies of automotive companies during the forecast period.
The market intelligence industry in Europe is predicted to expand at a CAGR of 8.47% during 2020 to 2025.
The statistic states that the market intelligence industry in Europe is expected to experience a compound annual growth rate (CAGR) of 8.47% between the years 2020 and 2025. This indicates a projected average annual growth rate over the specified time period. The CAGR is a useful metric for representing the steady year-over-year growth rate of an industry, providing insights into the industry’s overall trajectory. In this case, a CAGR of 8.47% suggests that the market intelligence industry in Europe is likely to see significant expansion and increasing demand for market intelligence services during the forecasted period. This growth rate can be influenced by various factors such as technological advancements, changing consumer behavior, and economic conditions impacting the need for market research and intelligence services in the region.
The number of employees in the US market research and public opinion polling industry was approximately 139,000 in 2019.
The statistic provided indicates that in 2019, there were around 139,000 individuals employed within the US market research and public opinion polling industry. This figure represents the total workforce within this specific industry segment, encompassing various roles such as market researchers, analysts, surveyors, and other professionals involved in data collection, analysis, and interpretation for the purposes of understanding market trends and public opinion. The size of this workforce suggests the significance of market research and public opinion polling in shaping business strategies, policy decisions, marketing campaigns, and other relevant areas where accurate and insightful data is crucial for informed decision-making.
Over 40% of the world’s businesses are investing in big data analytics as part of their market intelligence strategy.
The statistic that over 40% of the world’s businesses are investing in big data analytics as part of their market intelligence strategy indicates a significant trend towards leveraging advanced data analysis techniques to gain insights into market trends, customer behaviors, and competitive landscapes. This suggests that organizations across various industries are increasingly recognizing the value of utilizing big data to make more informed decisions and optimize their business strategies. By investing in big data analytics, these businesses aim to enhance their ability to anticipate market shifts, identify growth opportunities, and ultimately gain a competitive edge in today’s data-driven economy.
In 2021, the overall size of the global big data and business analytics market was $215.7 billion, a significant part of the intelligence market.
The statistic highlights the substantial growth and significance of the global big data and business analytics market in 2021, which reached a total size of $215.7 billion. This indicates a strong demand for data-driven insights and analytical solutions across industries, reflecting the increasing reliance on data to drive strategic decisions and improve business performance. The statement also emphasizes that the big data and business analytics market plays a substantial role within the broader intelligence market, underlining its importance in driving innovation, competitiveness, and growth for organizations globally.
The health & life science sector is expected to grow at an impressive CAGR of 9.8% during the forecast period.
This statistic indicates that the health & life science sector is projected to experience significant growth over a specified period, with a compound annual growth rate (CAGR) of 9.8%. This growth rate suggests a robust and sustained upward trend in the industry, driven by factors such as technological advancements, an aging population, increasing healthcare spending, and growing demand for innovative therapies and treatments. The forecasted growth rate of 9.8% signals a promising future for the health & life science sector, indicating opportunities for expansion, investment, and advancements in healthcare solutions.
In 2020, over 60% of market intelligence professionals were using social media as a data source.
The statistic ‘In 2020, over 60% of market intelligence professionals were using social media as a data source’ indicates that a significant portion of professionals in the market intelligence field were leveraging social media platforms to gather data and insights. This suggests a growing trend among professionals to tap into the wealth of information available on social media channels to inform their business strategies and decision-making processes. The use of social media as a data source highlights the increasing recognition of the value of social media data in understanding market trends, consumer preferences, and competitive landscapes. This statistic underscores the importance of adapting to new data sources and technological advancements in the field of market intelligence to stay competitive and relevant.
Conclusion
Through analyzing the Market Intelligence industry statistics, it is evident that data-driven decision-making is essential for businesses to stay competitive in today’s fast-paced environment. By leveraging market insights and consumer trends, companies can better understand their target audience, identify opportunities for growth, and mitigate risks. Embracing a data-driven approach is crucial for success in the ever-evolving market landscape.
References
0. – https://www.www.mordorintelligence.com
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2. – https://www.dataconomy.com
3. – https://www.www.transparencymarketresearch.com
4. – https://www.www.digitaldoughnut.com
5. – https://www.www.sisinternational.com
6. – https://www.www.statista.com
7. – https://www.www.marketsandmarkets.com
8. – https://www.www.marketresearchfuture.com
9. – https://www.www.fortunebusinessinsights.com
