Market Analysis
The market for Augmented Analytics market is estimated to grow at a significant rate during the forecast period 2020 to 2027. Augmented analytics tools are utilized for analyzing automated data with the support of natural language processing technology and machine learning techniques. It helps in streamlining the process of data modeling and data profiling thus supporting reuse and data governance. The Augmented Analytics Market is predicted to touch USD 13 billion at a stellar 24% CAGR between 2020- 2027, states the recent Market Research Future (MRFR) analysis.
Various factors are fuelling the global augmented analytics market share. As per the recent MRFR market estimates, such factors include the increasing volume of complex data, growing adoption of analytical tools for business intelligence, development of artificial intelligence technology, development in blockchain and modernization of digital technology, increasing need for intelligent business tools in data analysis, growing need for increased productivity of business processes, and increasing implementation of natural language processing tools, machine learning, and artificial intelligence.
On the contrary, lack of skilled workforce, high cost of analytical tools, impact of the COVID-19 pandemic on the global economy, and analyzing the huge generated data by maintaining safety and quality may impede the global augmented analytics market growth over the forecast period.
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Market Segmentation
The MRFR report throws light on an inclusive segmental analysis of the global augmented analytics market based on vertical, organization size, deployment mode, and component.
By component, the global augmented analytics market is segmented into services and software. The services segment is again bifurcated into managed services and professional services. Of these, the service segment will lead the market over the forecast period.
By deployment, the global augmented analytics market is segmented into hybrid, on-cloud, and on-premise. Of these, the on-cloud segment will dominate the market over the forecast period.
By organization size, the global augmented analytics market is segmented into large enterprises and SMEs. Of these, the SMEs will spearhead the market over the forecast period.
By vertical, the global augmented analytics market is segmented into healthcare, media and entertainment, transportation, energy and utilities, manufacturing, retail, IT and telecommunication, government and defense, BFSI, and others. Of these, BFSI will have the lions share over the forecast period.
Regional Analysis
By region, the global augmented analytics market covers the recent trends and growth opportunity across North America, Europe, the Asia Pacific (APAC), and Rest of the World (RoW). Of these, North America will rule the market over the forecast period. Presence of key players in the US, technically advanced infrastructure, high technical expertise in technology like machine learning and natural language processing, widespread customer base in various industry verticals, adoption of advanced analytics to improve business operations, rapid adoption of technologies, and focus by companies to improve their data analysis capabilities are adding to the global augmented analytics market growth in the region.
In Europe, the global augmented analytics market is predicted to hold the second-largest share over the forecast period. Developing digital technology, increasing need for augmented analytics solutions for business intelligence, and high growth in retail and consumer goods industry are adding to the global augmented analytics market growth in the region.
In the APAC region, the global augmented analytics market is predicted to have promising growth over the forecast period. Development in digital technology, increasing expertise in machine learning and natural language processing techniques, development in big data analytics and artificial technology, increasing implementation of data discovery, self-service business intelligence tools, and visualization across business organizations are adding to the global augmented analytics market growth in the region. Japan, China, and India hold the utmost market share.
Key Players
The leading players profiled in the global augmented analytics market report include Birst, Pyramid Analytics, Logi Analytics, Board International, Yellowfin, Looker, MicroStrategy, Qlik, Sisense, Tibco Software, SAS, Tableau Software, Oracle, Microsoft Corporation, IBM Corporation, SAP SE, and Salesforce.
Industry Updates
April 2021- Subex has launched hypersense, an end-to-end augmented analytics platform.
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Table of Contents
1 Executive Summary
2 Scope of The Report
2.1 Market Definition
2.2 Scope of The Study
2.2.1 Research Objectives
2.2.2 Assumptions & Limitations
2.3 Market Structure
Continued…
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