Palantir Competitors Analysis

Palantir Technologies is a software company with a specialty in Big Data Analytics. Founded in 2003, the company has its headquarters in Denver, Colorado. It trades publicly on the New York Stock Exchange under the ticker symbol PLTR. With a market capitalization of $17.10 billion as of May 2022, it’s one of the most valuable companies in the world.  While most of Palantir’s revenue comes from the US government, it counts several commercial entities like Airbus and JPMorgan Chase as clients. The company’s growth has been phenomenal, with 41% year-on-year revenue growth in 2021 to $1.54 billion. The company also reported a 71% growth in its customer base, something analysts predict could mean even more growth. However, Palantir isn’t without its competition. Analysts estimate a CAGR of 13.1% for the global big data market between 2020 and 2025, which means there’s plenty of room for other companies to grow. Here’s a look at some of Palantir’s main competitors and how they’re faring in the market.

Bottom Line up Front

Palantir is a top player in the big data analytics market with a strong focus on government contracts. However, it also offers its software to commercial entities. Data preparation, analysis, and visualization are some of its main features. It competes for market share with both large and small companies. Below are some of the most notable competitors to Palantir:

  1. Cognizant 
  2. Alteryx
  3. Tableau
  4. IBM Watson Studio
  5. Splunk 
  6. Trifacta 

Palantir Technologies Business Strategy

Palantir’s primary source of income is from software licenses and related services. By creating software that helps users make sense of large, complex data sets, the company can charge a premium for its products. The company has four main products: Gotham, Metropolis, Foundry, and Apollo. Gotham is Palantir’s main intelligence analysis product and used by the US government in predictive policing systems.  Metropolis facilitates quantitative analytics, information management, and data integration and is used by clients in the financial sector. On the other hand, Foundry is an enterprise data platform that helps companies integrate and analyze their data. Apollo, finally, is a product that helps manage application development and deployment.  Palantir’s business model is subscription-based, with clients signing annual or multi-year contracts. This recurring revenue model benefits the company as it provides stability and visibility into future growth. The company has a direct sales force that targets large enterprises in specific industries like defense, intelligence, finance, healthcare, and life sciences.  In addition to its direct sales efforts, Palantir also has a partner program for system integrators, independent software vendors, and other technology companies. These partners help market and sell Palantir’s products to their customer base, providing another avenue for growth. 

Palantir Technologies Swot Analysis


  • Extensive software use: Palantir’s software is used extensively by the US government, with a client base including commercial entities like Airbus and JPMorgan Chase. The government and commercial client mix provide stability and visibility into future growth. 
  • Proprietary technology: The company’s software is based on proprietary technology unavailable to its competitors. This technology gives Palantir a competitive advantage in the market. 
  • Strong financial position: Palantir is financially strong, with a reported 41% year-over-year revenue growth in 2021. This growth, coupled with a direct sales force and partner program, provides a solid foundation for future growth. 
  • Extensive investment in research and development: The company’s 15 years of investment in research and development has resulted in a strong product portfolio. Its continuous product development ensures that it remains at the forefront of the market.


  • Dependence on the US government: Palantir is heavily dependent on the US government for its revenue. This dependence could be a risk if the government reduced its spending or shifted its focus to other products. 
  • High cost of products: Palantir’s products are expensive, which could limit their adoption by small and medium enterprises. The high cost could also limit the company’s growth in developing countries. 
  • Controversial projects: Palantir has been involved in controversial projects like the US government’s PRISM surveillance program. These projects have drawn criticism from privacy advocates and could damage the company’s reputation. 

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  • Green IT: Palantir’s products can help organizations reduce their carbon footprint and save on energy costs. In addition, the company’s products can help organizations comply with environmental regulations. 
  • Big data: The continued growth of big data presents an opportunity for Palantir to increase its market share. Its products are well suited to handle big data sets, giving it a competitive advantage. 
  • Developing countries: There is a growing demand for enterprise software. Palantir could increase its revenue and market share by creating a presence in developing countries. 
  • Partner program: The company’s partner program provides an opportunity to increase its reach and market share. By expanding its partner network, Palantir could gain access to new customers and markets. 


  • Intense competition: Palantir faces fierce competition from established players in the enterprise software market, such as IBM and Oracle. In addition, the company faces competition from startups developing new and innovative products. 
  • Economic downturn: A global economic recession could reduce spending on enterprise software, negatively impacting Palantir’s revenue and growth. 
  • Changes in government spending: If the US government reduces its spending on Palantir’s products, it could hurt its revenue and growth. 
  • Regulatory changes: Changes to privacy regulations could limit the use of Palantir’s products by organizations. Data collection and retention regulations could also impact the company’s business. 
  • Reputational risk: Palantir’s involvement in controversial projects, such as the US government’s PRISM surveillance program, could damage its reputation and lead to customer churn. 

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Palantir Competitors Analysis

Palantir competes in an industry with many large and well-established players and several startups. Its competitive advantage lies in its strong financial position, extensive investment in research and development, and innovative products. However, its dependence on the US government, high cost of products, and history of financial misappropriation threaten its long-term viability.  Below is how it fairs against its competitors.

1. Cognizant

Cognizant is one of the largest providers of IT services. It has a strong presence in North America and Europe and offers a broad range of services, including consulting, application development, and cloud computing. Founded in 1994, the company has its headquarters in Teaneck, New Jersey, United States.  In 2021 the company recorded revenue of $18.5 billion, an increase from $16.7 billion in 2020—this growth was primarily driven by growth in its digital business, which grew 19% year-over-year. The strong growth was also due to increased demand for its services from healthcare, life sciences, and manufacturing clients.  Cognizant and Palantir compete in the domain of consulting and application development. Both offer big data analytics solutions, but Cognizant’s solutions are more traditional and do not have the same capabilities as Palantir’s Gotham platform.  Cognizant’s effort in acquisitions is also a strategy to maintain its leadership position. Since 2019, the company has spent about $2.5 billion on acquisitions. Its global delivery business model based on offshore R&D and low-cost resources is a critical competitive advantage. 

2. Alteryx

Alteryx is a data science and analytics company founded in 1997 with headquarters in Irvine, California, United States. The company provides a platform that enables organizations to clean, prepare, and analyze data. Alteryx also offers a range of products for specific industries, such as retail, healthcare, and manufacturing.  In 2021, the company’s revenue was $536.1 million, an 8% increase from 2020. Its extensive product portfolio, strong partnerships, and growing customer base are critical growth drivers. Alteryx expects $144.0 million to $147.0 million in revenue for the first quarter of 2022.  With its Alteryx Intelligence Suite, the company competes directly with Palantir Foundry. However, Palantir offers better data preparation capabilities and a more comprehensive solution. Moreover, it boasts powerful integrations, centralization, and data analysis. Alteryx’s focus on specific industries gives it an edge in those markets but doesn’t make it a threat to Palantir’s general-purpose data platform.

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3. Tableau

Tableau is a data visualization company that enables organizations to see and understand data. It offers a range of products for different users, from individuals to large enterprises. Tableau was founded in 2003 and is headquartered in Seattle, Washington, United States.  Tableau has been a subsidiary of Salesforce since 2019. Because it’s part of a much larger company, it has significant access to resources to compete with Palantir. Both companies offer data visualization and analysis tools. Tableau’s advantage lies in its ease of use—its drag-and-drop interface makes it simple to create complex visualizations without coding skills.  The company’s desktop and server products are available in different editions, making it flexible for different users. Tableau Online, its cloud-based offering, is a competitor to Palantir Foundry. The main difference is that Tableau Online is easier to use and does not require IT skills to set up or operate. 

4. IBM Watson Studio

Watson Studio is an integrated platform from IBM that allows users to work with data to build and train models, prepare and analyze data, and create visualizations. The platform offers a range of tools for different user types, from beginner to expert.  IBM Watson Studio is a comprehensive platform that offers capabilities similar to Palantir Foundry. However, Foundry is more user-friendly and provides better integrations. Moreover, Foundry’s artificial intelligence (AI) capabilities are more advanced.  Unlike Foundry, Watson Studio is optimized for the IBM Cloud and is available as a cloud-based or on-premises solution. These integrations ensure quick response times and high availability for mission-critical applications.  Competing with Palantir, IBM has been investing in its AI capabilities. Businesses can take advantage of its accelerated Machine Learning (ML) capabilities, which are available through Watson Studio. Another competitive advantage is that companies can use Watson Studio to develop custom applications on the IBM Cloud.

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5. Splunk

Splunk is a San Francisco, California-based data analytics company that enables organizations to search, monitor, and analyze machine-generated data. The company offers a range of products for different users, from individuals to large enterprises.  Founded in 2003, Splunk went public in 2012. In 2022, the company’s revenue was $2.67 billion, a 20% increase from 2021. The company has been investing heavily in research and development (R&D), which has resulted in new product launches and expansions into new markets.  Splunk’s product offering includes Splunk Enterprise Security, Splunk Storm, and Splunk Light. The company competes directly with Palantir Foundry in the data analysis market. While Splunk solely relies on machine-generated data, Palantir ingests all data types, making it a more comprehensive solution.  If you are looking for a data analytics solution specializing in machine-generated data, then Splunk is a good option. The company’s products are available in different editions, making them flexible for different users. 

6. Trifacta

Founded in 2012, Trifacta is a San Francisco, California-based data-wrangling company. It enables organizations to clean, prepare, and visualize data. By using Trifacta, businesses can improve the quality of their data and make it more accessible to different users.  The company’s product offering includes Trifacta Wrangler, Trifacta Wrangler Enterprise, and Trifacta Wrangler Pro. Trifacta competes with Palantir Foundry in the data preparation market. Both products offer a range of capabilities for data preparation, including data cleaning, transformation, and enrichment.  Trifacta’s advantage over Palantir is its user-friendly interface. Moreover, its expansion into Japan and the Asia Pacific gives it a competitive edge in the global market. Like, Palantir, Trifacta boasts high-profile clients such as Canopy, Data Tribe, and the Commonwealth Bank of Australia. Apart from penetrating the Asian market, Trifacta has also been focusing on developing its artificial intelligence (AI) and Machine Learning capabilities. Through these advancements, analysts and scientists can perform quality data checks and provide instant validation without debugging code.

How Palantir Stands Out

Palantir has maintained a competitive edge over its alternatives by continuing to develop its technology. Some of the critical areas where it’s made advancements include artificial intelligence (AI), data visualization, and integrations.  Through continuous research and development (R&D), Palantir has managed to keep its products up-to-date with the latest trends and technologies. For instance, the company’s artificial intelligence (AI) capabilities are among the best in the market. Palantir’s data visualization capabilities are also top-notch, essential for extracting insights from data.  Another competitive advantage of Palantir is its ability to integrate with different software applications. Moreover, it offers the most secure data management solution, essential for organizations handling sensitive data.  The company has also expanded its global reach by partnering with leading organizations in different industries. For instance, Palantir has partnered with the United States Department of Defense, the United Kingdom’s National Health Service (NHS), and Australia’s Department of Home Affairs. 

Palantir Competitors Analysis (FAQs)

Question: Who’s Palantir’s biggest competitor?

Answer: The main competitors of Palantir include Cognizant, Tableau, IBM, Alteryx, and Splunk. Palantir competes in different markets, including data visualization, preparation, and management. Its data analysis solutions are among the best in the market. 

Question: Why’s Palantir better than its competitors?

Answer: Palantir is better than its competitors because it offers more comprehensive data solutions. The company’s long-term investment in research and development (R&D) has enabled it to keep its products up-to-date with the latest trends and technologies. The company ensures quick and easy integrations, essential for organizations using multiple software applications.

Question: Are Snowflake and Palantir competitors?

Answer: The big data market is competitive, and Snowflake and Palantir are two of the leading companies in this space. While they offer overlapping products and services, they aren’t direct competitors. Snowflake focuses on data warehousing, while Palantir provides more comprehensive data management solutions. 

Question: Does Palantir have a competitive advantage?

Answer: Palantir competes in different markets, including data visualization, preparation, and management. The company has a competitive advantage because it offers more comprehensive data solutions. Moreover, it has strong support from government organizations and has partnerships with leading companies in different industries. 

Question: What’s Palantir’s most significant weakness?

Answer: One of the significant weaknesses of Palantir is its high cost. The company’s data solutions are among the most expensive in the market. In addition, the products are complex and require a high level of technical expertise to use. 


Palantir is a strong contender in the big data analysis space. However, it faces stiff competition from other companies that offer similar solutions. Its top competitors include Cognizant, Alteryx, Tableau, IBM Watson Studio, Splunk, and Trifacta. While it has a competitive technology advantage, it must continue to invest in research and development to maintain its position in the market.

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