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The global operational intelligence (OI) market size reached US$ 1.90 Billion in 2020. Operational intelligence (OI) refers to a data collection analytics technology that relies on automated data gathering techniques, such as machine learning (ML), artificial intelligence (AI) and data warehousing, used to monitor business processes and activities in real-time. Its key features include scalability, on-demand report generation, complex event processing, and dashboards and visualizations. It provides deeper insights into the functioning of IT systems and identifies patterns of activity on the network to prevent data breaches. Nowadays, OI is used in conjunction with big data to deliver key performance indicators (KPIs) and operational metrics.
OI is employed in the banking, financial services and insurance (BFSI) sector to monitor massive amounts of data and ensure uptime of critical financial systems. This, coupled with a high volume of real-time data generation, represents one of the key factors impelling the market growth. Moreover, it finds application in the logistics sector for gaining real-time insights into supply chain operations. Furthermore, the increasing focus on patient-centric care is positively influencing the adoption of OI in the healthcare industry to optimize resources and streamline workflows. Apart from this, small and medium-sized enterprises (SMEs) are integrating OI with social media platforms to identify the latest trends and reach a wider audience. It is also used to simplify data gathered from the IT infrastructure of an organization, which helps operators in fast and reliable decision-making. Additionally, the growing e-commerce industry and the growing instances of security breaches are other factors anticipated to contribute to the market growth. Looking forward, IMARC Group expects the global operational intelligence (OI) market anticipated to grow at a CAGR of 11.40% during 2021-2026.
IMARC Group provides an analysis of the key trends in each sub-segment of the global operational intelligence (OI) market report, along with forecasts for growth at the global, regional and country level from 2021-2026. Our report has categorized the market based on region, deployment type, organization size, end use industry and application.
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The report has also analysed the competitive landscape of the market with some of the key players being Axway Inc., Intelligent InSites Inc. (Infor), OpenText Corp., Oversight Systems Inc., SAP SE, Software AG, Space Time Insight Inc. (Nokia), Splunk Inc., SQLsteam and Vitria Technology Inc. (Innovation Technology Group Inc).
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