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Worldwide Search and Knowledge Discovery Software Market Shares, 2023: Maintaining Double-Digit Growth Despite Economic Headwinds

Publisher IDC
Published Jul 31, 2024
Length 12 Pages
SKU # IDC19039351

Description

Worldwide Search and Knowledge Discovery Software Market Shares, 2023: Maintaining Double-Digit Growth Despite Economic Headwinds


This IDC study presents a view of search and knowledge discovery software revenue broken down by vendor for the calendar year 2023. This market continues to see high levels of growth but has slowed slightly due to economic pressures following the COVID-19 pandemic era reckoning of enterprises' ability to support remote knowledge sharing. Despite the slowdown, AI-based improvements in accuracy and contextual understanding continue to drive growth in addition to the increasing shift to cloud-based solutions and the rush to support the use of LLMs with enterprise data."While acceleration of the search and knowledge discovery software market slowed somewhat in 2023 due to economic headwinds, this market still showed strong growth during the past year, growing at a significant rate of 20.4% to a total market size of $6.5 billion," said Hayley Sutherland, research manager, Conversational AI and Knowledge Discovery at IDC. "As organizations are driven to leverage AI to gain powerful insights from their data, IDC expects that search and knowledge discovery vendors are seeing both increased interest and increased pressures from new competitors."

Please Note: Extended description available upon request.

Table of Contents

12 Pages

IDC Market Share Figure

Executive Summary

Advice for Technology Suppliers

Market Share

Revenue in Current Currency and Constant Currency

Revenue Share by Region and Deployment Type

Who Shaped the Year

Market Context

Growth Accelerators

From Information Retrieval to Knowledge Discovery

Remote and Distributed Business Models

The Rise of RAG

Growth Inhibitors

Open Source Technology Options

Recession Impact

Significant Market Developments

Methodology

Market Definition

Related Research

Pricing

Currency Rates
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