The new report by Expert Market Research titled, ‘Global Augmented Analytics Market Report and Forecast 2023-2028’, gives an in-depth analysis of the global augmented analytics market Size, assessing the market based on its segments like components, organization sizes, deployment types, verticals, and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
The key highlights of the report include:
Market Overview (2018-2028)
- Forecast CAGR (2023-2028): 28.60%
The increasing adoption of augmented analytics by business and executives owing to the increasing demand for better expertise on technicalities while working with complex data is driving the market growth. Augmented analytics offer agility, accuracy, efficiency, confidence, and also increases the speed of insight.
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Over the forecast period, the rapid digitalisation in small, medium, and large enterprises are likely to accelerate the market growth in coming years. In terms of region, North America accounts for a significant share of the market owing to the greater opportunities offered to the businesses and analysts in the United States and Canada.
Augmented Analytics Industry Definition and Major Segments
Augmented analytics is defined as the class of analytics which combines technologies such as artificial intelligence and machine learning to create a better understanding of data analytics to the users. It automates various aspects of data science and reduces the burden on analysts by increasing the efficiency.
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On the basis of component, the market can be segmented into:
Based on organisation size, the market can be segmented into:
- Large Enterprises
- Small and Medium-Sized Enterprises
By deployment type, the market has been divided into:
The significant verticals include the following:
- Banking, Financial Services, and Insurance
- Telecom and IT
- Retail and Consumer Goods
- Healthcare and Life Sciences
- Government and Defence
- Energy and Utilities
- Transportation and Logistics
- Media and Entertainment
The regional markets for augmented analytics include:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
Augmented Analytics Market Trends
The key trends in the augmented analytics market include the technological advancements various end-use industries such as automotive, banking, financial services and insurance, media and entertainment, among others. The favourable policies of the government aimed towards diffusing automation and cloud-based analytical services are anticipated to be the crucial trends in the market.
Moreover, the rapid advancements in the augmented analytics software, which include natural language interaction, emergence of strategical techniques, and smart data preparation, are likely to bolster the popularity of the product in the forecast period. Furthermore, the market is anticipated to be aided by the rapid urbanisation across emerging economies.
Key Market Players
The major players in the market are Salesforce.com, Inc., SAP SE, Microsoft Corporation, Oracle Corporation, Tableau Software LLC, and MicroStrategy Incorporated, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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