The collective intelligence platform market is projected to grow at a significant CAGR during the forecast period (2019-2025). The collective intelligence (CI) or group intelligence refers to the intellect that comes through the collection, collaboration, collective efforts, and competition of many individuals. The collective intelligence platform has its utility in consensus decision making. The increasing use of advanced technologies such as AI, big data, and IoT to propel the demand of a platform that can act as a central decision-making system which in turn is anticipated to drive the growth of the global collective intelligence platform market. A considerable rise in big data is a major concern for enterprises to get useful insight from the huge amount of the generated data. With the growing digitalization across the globe, big data is on a continuous rise.
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According to the World Economic Forum, the connected world is producing data at a pace that is unprecedented in human history. Currently, data is no longer utilized for covering past activities; it is helping the manufacturers in foreseeing risk, predicting future, improve customer experience, and understand their extended value chain. For data tracking and capture, manufacturers now have access to more resources. Data is being obtained from conventional sources including classic consumer surveys, and more innovative applications such as the IoT and smart sensors to capture machine readings. According to the organization in 2017, more than 4 billion people are connected to the internet compared to just 2.3 million in 1990. These billions of individuals are generating data every second, which has led to the growth of big data.
Several researchers have discovered a potential connection between robust data management strategy and companies’ financial performance. This enables businesses to reach the market faster with products and services that are efficiently associated with customer needs. Thus, the increasing presence of big data is creating huge opportunities for the growth of the global collective intelligence platform market. In today’s competitive business environment, more and more businesses are likely to use these platforms in order to enhance the experience of their customers by tracking the social media activities of their targeted customers. Moreover, the businesses are deploying these platforms to perform sales and marketing management to get competitive intelligence over their competitors.
Global Collective Intelligence Platform Market- Segmentation
By Component
By Vertical
Global Collective Intelligence Platform Market– Segment by Region
North America
Europe
Asia-Pacific
Rest of the World