Competitive Intelligence Software

400% growth at $7B ARR

You’re reading Category Surfers, where we spend hours researching the fastest-growing software categories every week. So you can discover the next unicorn SaaS idea before it explodes.

If you enjoy reading this newsletter, consider sharing it with your network!

Competitive Intelligence Software

What is it?

Whether you like it or not, you are competing for your prospects' money. Competitors are changing marketing, product and sales strategies often. And keeping track of your competitors and how you can position yourself is hard and time-consuming (market research). Competitive intel platforms’ features usually include:

  • Assist brands in collecting and analyzing competitive intelligence about one or more of the following: products, website changes, customers, marketing strategies, and strategic investments

  • Provide a centralized platform for all competitive intelligence for a company to collaborate on and analyze

Who’s the buyer?

Job titles include product marketing leadership, sales enablement leadership and sales leadership.

41% of buyers are in the SMB segment, 70% in the mid-market, and 22% in the enterprise market.

What is the problem?

Copying your competitors is not a strategy. But, understanding what they are doing to better position yourself is a must for companies in crowded markets. Competitive intel tools help teams see what product/marketing changes other players are making.

This is important to help the sales team understand how to pitch in a deal where competitors are mentioned. Or help create a new GTM plan based on what is working for competitors.

How big is the market?

The top 10 players bring about $800M in ARR. The combined annual revenue of all players in the market is north of $7B.

How fast is it growing?

In the past 3 years, the market's supply side has grown 405% with an average of 71% year-over-year growth.

Who are the top 10 players?

Revenue numbers are estimated - except for companies that IPO’ed.

How much are people paying?

Companies usually pay $10,000 to $40,000 per year for tracking competitors.There are cheaper options that only focus on marketing strategy tracing based on SEO data that change about $100 per month but they can't track changes in other important areas.

How are they buying?

Since the buying process involves multiple departments (sales, marketing, product) - most players have a sales-assisted motion. No signs on product-led growth.