OpenText (Canada), Elastic (US) and Coveo (Canada) are leading players in Insight Engines Market
The market for insight engines is estimated to grow from USD 1.7 billion in 2023 to USD 5.6 billion by 2028, at a CAGR of 27.1% during the forecast period. With the implementation of an insights engine, businesses tend to have a more efficient workflow, this is due to easy access to prior information and to better visualize the process to follow to achieve the desired results. It combines search and machine learning capabilities to deliver data for machines and information for users. It enbales businesses to provide timely data that delivers actionable insights.
Key players operating in the insight engines market include Microsoft (US), IBM (US), OpenText (Canada), SAP (Germany), Oracle (US), Elastic (US), Expert.ai (Italy), Almawave (Italy), Mindbreeze (Austria), Squirro (Switzerland), Sinequa (France), Coveo (Canada), Lucidworks (US), SearchBlox (US), Attivio (US), o9 Solutions (US), Celonis (US), Squiz (Australia), IntraFind (Germany), Fletch (US), Veritone (US), Progress (US), Upland Software (US), ForwardLane (US), Tecnotree (Finland), Comintelli (Sweden), Activeviam (US), Dun & Bradstreet (US), Prevedere (US), Stravito (Sweden), xFind (Israel), Turing Labs (US), Rampfy (Brazil), Raffle.ai (Denmark), Pecan AI (Israel), Omnisearch (Canada), and Fosfor (India). These AI vendors in project management have adopted various organic and inorganic strategies to sustain their positions and increase their market shares in the global market.
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Elastic is one of the leading platforms for search-powered solutions, enabling businesses, employees, and customers to locate what they need more quickly while preventing cyberattacks and keeping applications functioning smoothly. The company improves customer and employee search experiences, maintains mission-critical applications' efficient operation, and guards against cyber threats with solutions in enterprise search, observability, and security. Elastic, which is delivered wherever data resides in one cloud, across several clouds, or on-premises, enables more than 17,000 customers, including Netflix, Uber, Slack, and Microsoft, as well as more than 50% of the Fortune 500, to achieve new heights of success at scale and on a single platform. It has a geographical presence in the Americas, Europe, the Middle East & Africa, and the Asia Pacific.
Coveo designs intelligent enterprise search and predictive insights platform that helps businesses unlock search power to optimize performance. Its platform enables businesses to fully utilize the value of their intellectual property and equip their employees with unified and secure knowledge access. It securely connects and unifies information from across on-premise and cloud applications. It automatically suggests relevant information, experts, products, and services to customers as they self-serve and employees as they work. It also personalizes every digital experience for customers, partners, dealers, and employees. It combines unified search, analytics, and machine learning to deliver relevant information and recommendations across every business interaction, making websites, eCommerce, contact centers, and intranets effortless and efficient. Coveo partners with the biggest enterprise technology players in the world and has more than 1,500 activations in mid-to-large-sized global organizations across various industries.
OpenText is a market leader in information management, assisting businesses with the secure collection, control, and international exchange of information. For clients ranging from small and medium-sized businesses to the largest and most organizations, OpenText provides solutions to digital business challenges. It enables tackling the most complex digital transformation programs with confidence. It empowers its customers to organize, integrate, and safeguard data and content as it flows through business processes inside and outside their organization with the world's most comprehensive and integrated information management platform. In August 2022, the company acquired a UK-based software company named Micro Focus. With this acquisition, OpenText intended to help enterprise professionals to secure their operations, gain more insight into their information, and better manage an increasingly hybrid and complex digital fabric with a new generation of tools, including cybersecurity, digital operations management, applications automation, and advanced analytics and AI.
Related Reports:
Insight Engines Market by Offering (Solutions and Services), Application (Search and Discovery, Knowledge Management, and Risk and Compliance Management), Technology, Deployment Mode, Organization Size, Vertical and Region - Global Forecast to 2028
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