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Outlook on the Insight Engines Global Market to 2026 - BFSI Is Expected to Hold a Significant Share - ResearchAndMarkets.com

June 23, 2021 GMT

DUBLIN--(BUSINESS WIRE)--Jun 23, 2021--

The “Insight Engines Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)” report has been added to ResearchAndMarkets.com’s offering.

The Insight Engines Market is expected to register a CAGR of 23.18% over the forecast period from 2021 - 2026.

Companies Mentioned

  • IBM Corporation
  • Mindbreeze GmbH
  • Coveo Solutions Inc.
  • Sinequa SAS
  • LucidWorks, Inc.
  • ServiceNow, Inc. (Attivio Cognitive Search Platform)
  • Micro Focus International plc
  • Google LLC
  • Microsoft Corporation
  • Funnelback Pty Ltd
  • IntraFind Inc.
  • Dassault Systemes S.A.
  • EPAM Systems, Inc. (Infongen)
  • Expert System S.p.A.
  • IHS Markit Ltd
  • Insight Engines, Inc.

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Key Market Trends

BFSI is Expected Hold Significant Share

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  • Banks deal with a unique set of challenges as they navigate an ever-changing consumer landscape and business expectations. Search technology is at the forefront of making sense of this new world of finance. The variety of data sources for usage has evolved beyond the traditional mix. Enterprise workers at financial institutions need access to data stored in the cloud, behind SaaS services, and other silos. Insight Engines scales to billions of documents in various formats and connects to all of the data for real-time access. Insurers increasingly face a regulatory landscape while trying to mitigate game-changing trends like cyber-risk and disruptive innovation. Search can help these organizations stay nimble and maintain growth.
  • Insight engines leverage ML & AI to retrieve relevant results from disparate data repositories. It gives bankers a complete view of their clients by giving them access to annual reports, risk analytics, social media, industry blogs, and many other data points. It also enables informed investment-decision-making, opportunity sourcing, and deal origination. Banks have several transactional data and digital interaction points around customer profiles, claims, customer payment history, etc. Insight engines could exploit these massive data repositories to access authentic and reliable credit reports. Banks can proactively leverage these reports to anticipate fraud while uncovering payment irregularities and other unusual activities.
  • Banks and other financial organizations are also utilizing insight engines to find and parse client sentiment by checking social media and analyzing discussions about their services and strategies with the usage of Natural Language Processing. Financial services analysts can compose increasingly accurate reports and give better advice to customers and internal decision-makers with the capacity to get to essential and separated data. Using data to personalize banking improves customer engagement and increases revenue.

North America is Expected to Hold Significant Share

  • The North American region houses the presence of significant players such as IBM, Microsoft, and Conveo Solutions, etc. to name a few. Several organizations in the region have been looking at how to utilize decades of information and reports and to extract valuable insights from those data stores. In the past, knowledge managers and corporate librarians helped with that process, but now insight engines are providing these insights using machine learning, state of the art natural language processing, and knowledge mining. With the emergence of rapid processing, models enabled the same instance of data to support data analytics and file-based models in different types of organizations in the United States. Insight engines are used to derive the data from indexed content for analysis and reporting.
  • In November 2019, Science Applications International Corp. (SAIC) and Sinequa worked together to give an intelligent search experience with Sinequa’s machine learning and advanced natural language processing technologies for NASA’s global information access capability situated at the Marshall Space Flight Center in Huntsville, Alabama. SAIC achieved a contract to deploy and sustain a comprehensive knowledge management capability for NASA Marshall Space Flight Center, utilized Sinequa’s insight engine platform for the search and analysis of NASA’s structured and unstructured content for improving the search experience, which significantly supports missions and operations.
  • In October 2019, ReFED, a national nonprofit working to advance solutions to reduce the amount of food going to waste in the U.S., announced to launch the ReFED Insights Engine in 2020, a digital-first, continuously updated platform to house the next generation of data, insights, and guidance on food waste and solutions. The company is developing the Insights Engine to leverage the best data available to answer to identify the most effective and practical solutions that the food sector should focus the efforts on implementing. This innovative platform will combine proprietary and public data and subject matter expertise from ReFED’s 30+ member Expert Network to deliver the guidance and insights needed to focus action and to reduce food waste in half by 2030.

Key Topics Covered:

1 INTRODUCTION

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET INSIGHTS
4.1 Market Overview
4.2 Industry Value Chain Analysis
4.3 Industry Attractiveness - Porter’s Five Forces Analysis
4.4 Impact Of COVID-19 on the Industry

5 MARKET DYNAMICS
5.1 Market Drivers
5.1.1 Increasing Volumes of Data and the Requirement of Structured Data
5.1.2 Rising Generation of Analytical Queries Via Search and Natural Language Processing
5.2 Market Restraints
5.2.1 Concerns Regarding the Data Quality and Data Sources Validation

6 MARKET SEGMENTATION
6.1 By Component
6.2 By Deployment Type
6.3 By Size of the Enterprise
6.4 By End-User Industry
6.5 Geography

7 COMPETITIVE LANDSCAPE

8 INVESTMENT ANALYSIS

9 FUTURE OF THE MARKET

For more information about this report visit https://www.researchandmarkets.com/r/cr68g7

View source version on businesswire.com:https://www.businesswire.com/news/home/20210623005815/en/

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KEYWORD: NORTH AMERICA

INDUSTRY KEYWORD: SOFTWARE INSURANCE FINANCE BANKING DATA MANAGEMENT PROFESSIONAL SERVICES TECHNOLOGY SECURITY

SOURCE: Research and Markets

Copyright Business Wire 2021.

PUB: 06/23/2021 12:36 PM/DISC: 06/23/2021 12:36 PM

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