A collective intelligence platform is also known as a group intelligence platform. It is developed from collective effort and collaboration of many individuals. This platform is used for consensus decision making. Presently, it is an easy task for individuals to collectively collaborate with each other due to the advancement in communication technology. Globally, companies are launching social networks and joint platforms, which generated an infinite stream of data and insight. The potential lies within unified network of humans and computers has started to be realized. Collective intelligence existed before the Internet; however, collective intelligence gained importance after the emergence of Internet. Importance of collective intelligence is expected to rise during the forecast period. A collective intelligence platform is used for numerous reasons such as ideation and innovation, knowledge sharing, workload distribution, and predicting the future trends of the market.
Rise in use of social media platforms is a major factor driving the collective intelligence platform market. Leaders across the globe are adopting social media management applications to gain deep understanding of target audience. This, in turn, is expected to fuel the global collective intelligence platform market. The advent of IoT technology has increased the efficiency of these applications. Major companies in the social media management applications industry are developing attractive proposals or offers and cash back schemes to attract customers. This is expected to drive the global collective intelligence platform market. Additionally, rising focus on the market demands and competitive intelligence, and increasing demand for social media to improve the user experience are major factors contributing boosting the market. The global collective intelligence platform market is expanding, as these applications help organizations to reach their target audience and engage them effectively. Increase in smartphone usage is propelling in the market. Large number of active users are accessing social media over mobile phones. Social media apps made for smartphones frequently track activities and increase the relevance of social media marketing. Demand for big business social media security systems is expected to rise due to the expansion of digital threats across the globe.
The global collective intelligence platform market can be segmented based on component, solution, end-user, and region. In terms of component, the market can be bifurcated into software and services. The software segment can be categorized into on-premise and cloud. The services segment can be divided into managed services and professional services. Based on solution, the market can be segregated into sales, security, legal, marketing, research & development and logistics. In terms of end-user, the global collective intelligence platform market can be classified into residential, government & public, and commercial. Based on region, the global collective intelligence platform market can be split into North America (countries included are The U.S., Canada and rest of North America), Europe (countries included are Germany, U.K., Italy and rest of Europe), Asia Pacific (countries included are China, India, Japan and rest of Asia Pacific), Middle East & Africa (countries included are GCC, South Africa and rest of Middle East & Africa), and South America (countries included are Brazil and rest of South America). North America, being a mature market, makes a considerable contribution to collective intelligence platform market revenues worldwide. The region dominated the global market in 2017, as it is technologically advanced as compared to other regions. Furthermore, presence of large number of collective intelligence software vendors and system integrators drives the adoption of collective intelligence software and services in the region.