The digital intelligence platform market is estimated to be USD 5.65 Billion in 2017 and is projected to reach USD 13.96 Billion by 2022, at a CAGR of 19.8% during the forecast period. Some of the major factors that are expected to drive the digital intelligence platform market include increased adoption of digital intelligence platforms for competitive differentiation and increasing customer retention activity, rising focus on social media analytics and personalization, and the need for optimizing digital experiences across all touchpoints.
Technology giants such as Adobe Systems (US), IBM (US), SAS Institute (US), Evergage (US), Google (US), Mixpanel (US), Optimizely (US), Webtrekk (Germany), New Relic (US), Localytics (US), Cxense (Norway), and others offer digital intelligence platforms to cater to the demands of the market. These players have adopted various growth strategies such as expansions, contracts, acquisitions and mergers with partnerships and new product launches being the key strategies. Partnerships and acquisitions have been the major strategical trends, accounting for more than half of the share of the total growth strategies adopted by the major market players.
Adobe Systems is focusing on both inorganic and organic strategies such as partnerships, collaborations, acquisition, contracts, and new product launches to grow in the digital intelligence platform market. For example, in March 2017, Adobe launched Adobe Experience Cloud, which helps bring all its digital cloud businesses together onto a single platform. Adobe Experience Cloud comprises Adobe Marketing Cloud, Adobe Advertising Cloud, and Adobe Analytics Cloud. In March 2017, Adobe Systems collaborated with Microsoft (US) to offer joint enterprise solutions designed to help both the companies to improve their customer experience.
IBM is focusing on both organic and inorganic growth strategies to gain a competitive advantage in the digital intelligence platform market. For example, in January 2017, IBM launched Resonate Consumer Intelligence Platform Resonate CIP 6.0. Resonate offers deep insights of the US consumer population across channels, connecting all levels of consumer graph and covering 90% of the US consumers on over 1B devices. In April 2017, IBM partnered with SAP to deliver easy data management needed for advanced analytics operations. This is majorly carried out through a combination of SAP HANA in-memory relational database technology and application platform coupled with IBM’s Power Systems.
Digital Intelligence Platform Market by Component (Analytics, Data Management, and Engagement Optimization), Touchpoint (Company Website, Social Media), Organization Size, Vertical (BFSI, Retail & E-Commerce), and Region - Global Forecast to 2022
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