USD 440.51 million
Competitive Intelligence Tools Market Size, Share, Growth Analysis, By Type(On-premise tools, Cloud-Based tools), By Application(BFSI, IT sector, Telecom sector, Automotive sector), By Region - Industry Forecast 2024-2031
Report ID:
SQSG45C2012 |
Region:
Global |
Published Date: February, 2024
Pages:
165
|Tables:
68
|Figures:
73
Competitive Intelligence Tools Market Insights
Global Competitive Intelligence Tools Market size was valued at USD 440.51 million in 2019 and is poised to grow from USD 494.47 million in 2023 to USD 1246.33 million by 2031, growing at a CAGR of 12.25% in the forecast period (2024-2031).
The competitive intelligence tools industry has a very positive growth trend going forward, since most companies need actionable insights and need them more than ever in this rapidly changing business world. The spread of digitalization and the broad access to data sources has accelerated growth in the competitive intelligence tools across many different sectors. Advanced technologies such as artificial intelligence and machine learning are becoming more integrated into the market, increasing these tools’ ability to analyze large datasets for valuable patterns. There is a growing awareness among firms of the need for real-time monitoring and analysis on competitive actions, market shaping patterns as well customer behaviour to guide their strategic process.
In addition, the growing importance of social media and online platforms has led to companies spending on the tools that can efficiently analyze sentiments in conversations over various channels. The requirement for competitive intelligence tools that are user-friendly and can be customized is growing, leading vendors to innovate solutions and create platforms designed to fit different types of businesses. The competitive intelligence tools market growth will continue sustaining attractive opportunities in favour of current players as well as potential new entrants. But issues of data security and privacy concerns may present a setback to the market growth thus, requiring an equilibrium between strong analytics capability syncing up with stringent data protection measures. The market space has a dynamic field of actors whose focus is to boost their share in the market through collaborative efforts, mergers and acquisitions. Overall, the global competitive intelligence tools market is undergoing a transformation; more and more companies are becoming aware of how important advanced analytics is nowadays to make informed decisions that will help them gain an advantage in today’s highly competitive business world.
US Competitive Intelligence Tools Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Cloud-based tools
Fastest Growth
Cloud-based tools
Growth Rate
12.25% CAGR
Global Competitive Intelligence Tools Market 2021-2028 ($ Bn)
Country Share for North America Region- 2021 (%)
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Competitive Intelligence Tools Market Segmental Analysis
The Global Competitive Intelligence Tools Market is segmented based on Type, Application, and region. Based on Type, the Competitive Intelligence Tools Market is segmented into On-premise tools and cloud-Based tools. Based on Application, the market is segmented into BFSI, IT sector, Telecom sector, Automotive sector, Retail sector, Health care sector, Energy sector, Industrial sector, and Education sector. Based on region, the global Competitive Intelligence Tools market is segmented into North America, Europe, Asia-Pacific, South America, and MEA.
Competitive Intelligence Tools Market Analysis by Type
The cloud-based tools segment is expected to hold the largest competitive intelligent tools market at 75.4% in 2024, with companies needs more flexible deployment options. Cloud services deliver agility to scale without the need for large upfront capital investments in on-premises servers or related IT infrastructure. This is especially true for small and medium-sized companies with variable amounts of research. The cloud’s operating cost model also allows for greater financial predictability than a one-time software license. Additionally, cloud solutions give users access to their critical instruments and science databases from any Internet-connected device.
The on-premises tools segment plays a key role in the competitive intelligence tools market, especially for companies that prioritize data management, security and on-premises. CI tools that enable organizations to deploy their software and data on their own servers. They have powerful complete data management and accessibility. On-premises CI tools offer improved flexibility and integration alternatives, as companies can align their CI gear with the precise commercial enterprise wishes and combine with other on-premises software and current structures effortlessly. Storing CI data in internal processes provides organizations able to mitigate the potential risks associated with data breaches and better comply with strict industry regulations.
Competitive Intelligence Tools Market Analysis by Application
BFSI segment currently dominates the market in 2023. This dominance is expected to continue, with projections reaching USD 539.33 million by 2031, accompanied by using a projected CAGR of 12.0%. The BFSI segment prominence inside the marketplace is pushed with the aid of the vital need for the economic establishments to leverage competitive intelligence tools to advantage strategic insights and keep a competitive side. These gear permit BFSI agencies to analyze marketplace tendencies, client conduct, and competitor sports, thereby facilitating informed selection-making. Our study also exhibits that the regulatory environment in the financial region necessitates using superior intelligence equipment to make certain compliance and chance management. The increasing adoption of the digital banking and financial services similarly fuels the demand for competitive intelligence solutions, as establishments seek to enhance their virtual skills and improve client experiences.
The IT sector segment plays a key role in the development and adoption of competitive intelligence (CI) tools due to its rapid innovation cycles, high competition and rich data Innovations, applications and improvements continue to occur in technology. Insights from CI tools help IT departments anticipate industry disruptions; they adjust their growth trajectory. CI tools that can strategize entry and for IT companies. They are given to monitor changes in regulations, manage reputational risk types, and manage global supply chain challenges all of which impact their business models. CI gear are essential for the IT agencies to manipulate those speedy changes, assisting them to remain competitive and attentive to marketplace tendencies. In addition, IT departments frequently depend upon CI gear to discover and forecast emerging technologies, competitor product introductions, and changes in purchaser choices.
Global Competitive Intelligence Tools Market By Type, 2021 (%)
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Competitive Intelligence Tools Market Regional Insights
As per competitive intelligence tools market analysis, North America leads the market driven by a strong presence of technology giants and widely adopted data analytics. Companies have been able to drive more accurate insights from large amounts of data. North America ground many companies to prioritize CI tools to stay ahead in areas such as technology, finance and e-commerce, where data-driven approaches are essential to success. It supports innovation, enabling CI equipment providers to develop and deploy advanced products with fewer restrictions compared to other communities. North America holds the dominant market share because of the high adoption rate of innovative technologies, it is home to many market vendors, and has invested heavily in R&D.
As per competitive intelligence tools market outlook, Asia-Pacific is emerging as a growing market for competitive tools, with the region’s expanding digital economy. Growing interest in data analytics and increasing number of companies adopting CI solutions in China, India, Japan and others. Countries are seeing a huge demand for CI tools as industry aims to capture market share in fast-growing sectors such as e-commerce, manufacturing and fintech. Although data privacy laws are stringent in some countries, the market is expected to grow as Asia-Pacific companies increasingly recognize the benefits of CI to increase competitiveness and market position.
Global Competitive Intelligence Tools Market By Geography, 2021 - 2028
- Largest
- Fastest
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Competitive Intelligence Tools Market Dynamics
Competitive Intelligence Tools Market Driver
Growing Need for Data-driven Decision Making
- Nowadays’s extraordinarily competitive enterprise surroundings, groups increasingly rely upon data to make informed choices and maintain strategic techniques. Competitive Intelligence (CI) tools help organizations collect, analyze, and present vast amounts of information down through market trends, competitor activity, consumer behavior, and the other important factors. This need for data-driven insights has led to a demand for CI tools in the various industries, especially in areas such as technology, finance, healthcare, and retail, where real-time information can have growth and benefits so greatly influenced.
Increasing Use of AI and Machine Learning in Competitive Intelligence
- The integration of artificial intelligence (AI) into competitive intelligence tools has changed the manner organizations acquire and interpret competitive records. This generation enables CI tools to research facts in an unprecedented way still, discover patterns and predict market trends with improved accuracy and velocity. For instance, AI-powered CI equipment can robotically music competitor activity on social media, news corporations and economic reports, supplying well timed, actionable insights. As businesses invest in AI and ML competencies, the market is predicted to develop substantially with knowledge and provide expanded efficiency and accuracy of those technologies.
Competitive Intelligence Tools Market Restraints
High Operating and Maintenance Costs
- Implementing CI tools can be expensive, especially for small and medium enterprises (SMEs) that may have limited budgets for technology investment. Advanced CI tools have ongoing costs involving data integration, training and maintenance in addition to the initial cost of procurement and installation. CI software includes AI and machine learning capabilities, requires a robust IT infrastructure, independent operators' maturity, and constant updates, which can add financial burden. This high cost can prevent the adoption of CI tools, especially in smaller organizations that may struggle to justify a return on investment around.
Data Privacy and Security Issues
- Competitive intelligence is predicated on collecting and analyzing huge quantities of information, records privacy and security has turn out to be a main challenge. Organizations need to make certain that the facts they acquire, and manner complies with regulations along with the GDPR and CCPA, especially while processing consumer facts. Furthermore, the chance of the records breaches poses a huge danger, as robust states can compete with sensitive information.
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Competitive Intelligence Tools Market Competitive Landscape
Global competitive intelligence tools market is competitive and characterized by the presence of several key players. Companies leverage partnerships to enhance data aggregation capabilities, improve analytical tools, and expand geographic reach. For instance, software providers and data analytics firms form partnerships to integrate intelligence tools seamlessly with existing platforms and give comprehensive solutions to their clients. Such strategically designed initiatives provide not only a competitive edge but also act as a means for the continuous adaptation of the dynamic customer needs and technological shifts in the competitive intelligence sector.
Competitive Intelligence Tools Market Top Player’s Company Profiles
- Alphabet Inc. (US)
- Crunchbase (US)
- Semrush (US)
- Owler (US)
- Alexa Internet Inc. (US)
- Comintelli (Sweden)
- Talkwalker (Luxembourg)
- SpyFu (US)
- NetBase Solutions Inc. (US)
- Slintel Inc. (US)
- Consensus Point (US)
- Evalueserve (Switzerland)
- SimilarWeb (Israel)
- Digimind (US)
- CI Radar (US)
- Brandwatch (UK)
- Contify Inc. (India)
- Archintel (US)
Competitive Intelligence Tools Market Recent Developments
- May 2022: Samanjal expanded its distribution with the acquisition of Rank Ranger, a versatile category management and analytics tool that offers a wide range of search and search engine optimization functionality, along with comprehensive multi-channel organic search capabilities.
- March 2022: Crunchbase added a Chrome extension that permits customers to apply information to identify new market possibilities higher. This extension affords accurate, customized information while streamlining the consumer’s search procedure, ultimately saving valuable time.
- In May 2024, Northern Light introduced a brand-new characteristic inside its SinglePoint™ organization research and aggressive intelligence platform, imparting enhanced the skills to track energetic number one marketplace studies tasks and centralize associated record garage.
Competitive Intelligence Tools Key Market Trends
- Shift Towards Real-Time Competitive Intelligence: The demand for actual-time competitive intelligence is increasing as organizations are looking to make faster selections in a rapidly changing environment. Real-time CI equipment allows groups to right away screen competitor pastime, marketplace modifications, and consumer preferences, helping them to stay responsive. E.G., groups with industries inclusive of e-trade and technology, wherein traits and customer behavior can exchange unexpectedly. This competitive intelligence tools market trend toward real-time CI solutions that advantage from actual-time updates on competitor pricing, product launches, and advertising campaigns is reshaping the competitive intelligence landscape and doubtlessly leading to similarly innovation in automation and records integration.
- Rising Expansion of Cloud-Based Competitive Intelligence Tools: Cloud-based totally CI equipment is gaining popularity because of their flexibility, scalability and value effectiveness. Furthermore, CI equipment cloud-based are effortlessly scalable as business desires evolve. The shift to cloud computing additionally reduces the burden of retaining the complex IT infrastructure, that's in particular beneficial for the smaller organizations. As a result, a strong adoption of cloud-based CI tools can be seen, especially in organizations that prioritize flexibility and remote access.
Competitive Intelligence Tools Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to SkyQuest analysis, the competitive intelligence tools industry is driven by the need to combine data-driven decision making with AI machine learning, enabling companies to gain deeper insights into market dynamics and competitor behavior. Overall, the marketplace is evolving to satisfy the demanding wishes of nowadays corporations that require usable intelligence in dynamic and competitive surroundings. But with higher implementation costs self and data privacy concerns pose challenges especially for SMEs and enterprises with strict data regulations. Key trends, which include the shift in the direction of actual-time CI and the adoption of cloud-primarily based solutions, are shaping the market as companies increasingly more prioritize flexibility and responsiveness.
| Report Metric | Details |
|---|---|
| Market size value in 2019 | USD 440.51 million |
| Market size value in 2031 | USD 1246.33 million |
| Growth Rate | 12.25% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Million |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Competitive Intelligence Tools Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Competitive Intelligence Tools Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Competitive Intelligence Tools Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Competitive Intelligence Tools Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Competitive Intelligence Tools Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Competitive Intelligence Tools Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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