Augmented analytics involves the application of technologies like AI and machine learning to enhance human curiosity and streamline the preparation, analysis, and visualization of data for business users. This approach allows users to discover insights more rapidly by interacting with their data, while algorithms suggest contextually relevant insights. Augmented analytics plays a crucial role in automating the development, management, and deployment of data science, machine learning, and artificial intelligence models, augmenting the capabilities of experts and data scientists.
The main components of augmented analytics include software and services. The software comprises advanced analytics applications, such as artificial intelligence, offering advanced insights into business performance and market conditions to inform decision-making and strategy. Augmented analytics is deployed through on-premises and cloud solutions. The services associated with augmented analytics include training and consulting, deployment and integration, and support and maintenance, catering to the needs of both large enterprises and small and medium-sized enterprises (SMEs). Verticals leveraging augmented analytics span banking, financial services, and insurance (BFSI), telecom and IT, retail and consumer goods, healthcare and life sciences, and other industries.
The augmented analytics market research report is one of a series of new reports that provides augmented analytics market statistics, including augmented analytics industry global market size, regional shares, competitors with a augmented analytics market share, detailed augmented analytics market segments, market trends and opportunities, and any further data you may need to thrive in the augmented analytics industry. This augmented analytics market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The augmented analytics market size has grown exponentially in recent years. It will grow from $11.36 billion in 2023 to $13.9 billion in 2024 at a compound annual growth rate (CAGR) of 22.4%. The expansion observed in the historical period can be attributed to several factors, including a strategic focus on automated insights and recommendations, the adoption of user-centric design principles, the prevalence of cloud-based analytics platforms, an emphasis on explainable AI and transparency in analytics processes, and the increasing demand for real-time and contextual insights.
The augmented analytics market size is expected to see exponential growth in the next few years. It will grow to $32.46 billion in 2028 at a compound annual growth rate (CAGR) of 23.6%. The anticipated growth in the forecast period can be attributed to persistent challenges in data complexity and volume, a growing demand for simplified analytics solutions, advancements in AI and machine learning technologies, and the expanding prevalence of self-service analytics. Major trends expected during this period encompass the convergence of AI and analytics, the adoption of automated machine learning (AutoML), advancements in natural language processing (NLP), a focus on explainable AI (XAI) and transparency, the integration of embedded analytics within business applications, and increased adoption of predictive and prescriptive analytics.
The augmented analytics market is expected to experience significant growth due to the increasing demand for the adoption of business intelligence (BI) tools. Business intelligence tools are essential in simplifying data-driven decision-making across organizations. They allow departments and teams, from data scientists to front-line employees, to gain valuable insights from data, thereby promoting data democratization. A survey conducted by Dresner Advisory Services, LLC in June 2021 revealed high executive adoption of business intelligence at 64%, followed by middle and line managers at 40%. Hence, the rising demand for BI tools contributes to the growth of the augmented analytics market.
The growth of the augmented analytics market is being propelled by the widespread digital transformation happening across various industries. Digital transformation involves leveraging digital technologies to bring about substantial changes in organizations, businesses, or societies, aiming to enhance efficiency, effectiveness, and competitiveness. Augmented analytics, powered by advanced technologies such as artificial intelligence and machine learning, plays a crucial role in utilizing the vast volumes of data generated during digital transformation. It offers automated data preparation, insights generation, and natural language processing capabilities, enabling businesses to make informed decisions and derive valuable insights from their data. According to a specialist report, around 67% of diverse industries implemented digital products in 2021, emphasizing the role of digital transformation in driving the augmented analytics market's growth.
Technological advancements are a prominent factor contributing to the growth of the augmented analytics market. Major players in this market focus on developing innovative products to gain a competitive edge. For example, in April 2022, Smarten, an India-based company specializing in augmented analytics, introduced sentiment analysis features and functionality to its advanced augmented analytics solution. This enhancement equips businesses with tools to understand stakeholders' and customers' sentiments, enabling organizations to improve their products and services based on this insightful analysis.
Major corporations in the augmented analytics market are strategically forging partnerships and collaborations with startups and mid-sized companies to diversify their array of products and services. These strategic alliances and partnership agreements enable companies to enhance their existing product portfolios and extend their geographic reach. For instance, in July 2021, iGenius, an Italy-based startup, joined forces with Google Cloud, the suite of cloud computing services offered by Google, and TIM Group, an Italian telecommunications services provider, to introduce its augmented analytics tool, crystal, on Google Cloud. This partnership is aimed at accelerating the digital transformation of small and mid-sized businesses, financial institutions, and major manufacturing organizations by leveraging cloud technology and data intelligence.
In October 2021, Qlik, a Sweden-based business analytics company, made an undisclosed acquisition of Big Squid, a US-based Predictive Analytics software company. Qlik's objective behind this acquisition is to enhance the capabilities of its data and analytics team by integrating advanced augmented analytics features like key driver analysis and predictive analytics from Big Squid Inc. This move allows Qlik to broaden its offerings in the augmented analytics domain.
Major companies operating in the in the augmented analytics market report are Salesforce, Inc., SAP SE, The International Business Machines Corporation, Microsoft Corporation, Oracle Corporation, Tableau Software, MicroStrategy Incorporated, SAS Institute Inc., QlikTech International AB, TIBCO Software India Pvt. Ltd, Sisense Ltd., Cloud Software Group, Inc., Yellowfin, ThoughtSpot Inc., Domo, Inc., Alation, Inc., Tamr, Paxata, Attivio, Arcadia Solutions, LLC, Squirro AG, GoodData Corporation, Looker Data Sciences, Inc., Alteryx, Board International S. A, Logi Analytics, Inc., Pyramid Analytics, Birst, Inc., Datorama, Panorama Software Ltd., DataRobot, Inc., RapidMiner, Inc., BIME Analytics
North America was the largest region in the augmented analytics market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the augmented analytics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the augmented analytics market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain.
The augmented analytics market includes revenues earned by entities by providing tools and solutions that make it simpler for company users and executives to discover relevant information. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified)).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
This product will be delivered within 3-5 business days.
The main components of augmented analytics include software and services. The software comprises advanced analytics applications, such as artificial intelligence, offering advanced insights into business performance and market conditions to inform decision-making and strategy. Augmented analytics is deployed through on-premises and cloud solutions. The services associated with augmented analytics include training and consulting, deployment and integration, and support and maintenance, catering to the needs of both large enterprises and small and medium-sized enterprises (SMEs). Verticals leveraging augmented analytics span banking, financial services, and insurance (BFSI), telecom and IT, retail and consumer goods, healthcare and life sciences, and other industries.
The augmented analytics market research report is one of a series of new reports that provides augmented analytics market statistics, including augmented analytics industry global market size, regional shares, competitors with a augmented analytics market share, detailed augmented analytics market segments, market trends and opportunities, and any further data you may need to thrive in the augmented analytics industry. This augmented analytics market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The augmented analytics market size has grown exponentially in recent years. It will grow from $11.36 billion in 2023 to $13.9 billion in 2024 at a compound annual growth rate (CAGR) of 22.4%. The expansion observed in the historical period can be attributed to several factors, including a strategic focus on automated insights and recommendations, the adoption of user-centric design principles, the prevalence of cloud-based analytics platforms, an emphasis on explainable AI and transparency in analytics processes, and the increasing demand for real-time and contextual insights.
The augmented analytics market size is expected to see exponential growth in the next few years. It will grow to $32.46 billion in 2028 at a compound annual growth rate (CAGR) of 23.6%. The anticipated growth in the forecast period can be attributed to persistent challenges in data complexity and volume, a growing demand for simplified analytics solutions, advancements in AI and machine learning technologies, and the expanding prevalence of self-service analytics. Major trends expected during this period encompass the convergence of AI and analytics, the adoption of automated machine learning (AutoML), advancements in natural language processing (NLP), a focus on explainable AI (XAI) and transparency, the integration of embedded analytics within business applications, and increased adoption of predictive and prescriptive analytics.
The augmented analytics market is expected to experience significant growth due to the increasing demand for the adoption of business intelligence (BI) tools. Business intelligence tools are essential in simplifying data-driven decision-making across organizations. They allow departments and teams, from data scientists to front-line employees, to gain valuable insights from data, thereby promoting data democratization. A survey conducted by Dresner Advisory Services, LLC in June 2021 revealed high executive adoption of business intelligence at 64%, followed by middle and line managers at 40%. Hence, the rising demand for BI tools contributes to the growth of the augmented analytics market.
The growth of the augmented analytics market is being propelled by the widespread digital transformation happening across various industries. Digital transformation involves leveraging digital technologies to bring about substantial changes in organizations, businesses, or societies, aiming to enhance efficiency, effectiveness, and competitiveness. Augmented analytics, powered by advanced technologies such as artificial intelligence and machine learning, plays a crucial role in utilizing the vast volumes of data generated during digital transformation. It offers automated data preparation, insights generation, and natural language processing capabilities, enabling businesses to make informed decisions and derive valuable insights from their data. According to a specialist report, around 67% of diverse industries implemented digital products in 2021, emphasizing the role of digital transformation in driving the augmented analytics market's growth.
Technological advancements are a prominent factor contributing to the growth of the augmented analytics market. Major players in this market focus on developing innovative products to gain a competitive edge. For example, in April 2022, Smarten, an India-based company specializing in augmented analytics, introduced sentiment analysis features and functionality to its advanced augmented analytics solution. This enhancement equips businesses with tools to understand stakeholders' and customers' sentiments, enabling organizations to improve their products and services based on this insightful analysis.
Major corporations in the augmented analytics market are strategically forging partnerships and collaborations with startups and mid-sized companies to diversify their array of products and services. These strategic alliances and partnership agreements enable companies to enhance their existing product portfolios and extend their geographic reach. For instance, in July 2021, iGenius, an Italy-based startup, joined forces with Google Cloud, the suite of cloud computing services offered by Google, and TIM Group, an Italian telecommunications services provider, to introduce its augmented analytics tool, crystal, on Google Cloud. This partnership is aimed at accelerating the digital transformation of small and mid-sized businesses, financial institutions, and major manufacturing organizations by leveraging cloud technology and data intelligence.
In October 2021, Qlik, a Sweden-based business analytics company, made an undisclosed acquisition of Big Squid, a US-based Predictive Analytics software company. Qlik's objective behind this acquisition is to enhance the capabilities of its data and analytics team by integrating advanced augmented analytics features like key driver analysis and predictive analytics from Big Squid Inc. This move allows Qlik to broaden its offerings in the augmented analytics domain.
Major companies operating in the in the augmented analytics market report are Salesforce, Inc., SAP SE, The International Business Machines Corporation, Microsoft Corporation, Oracle Corporation, Tableau Software, MicroStrategy Incorporated, SAS Institute Inc., QlikTech International AB, TIBCO Software India Pvt. Ltd, Sisense Ltd., Cloud Software Group, Inc., Yellowfin, ThoughtSpot Inc., Domo, Inc., Alation, Inc., Tamr, Paxata, Attivio, Arcadia Solutions, LLC, Squirro AG, GoodData Corporation, Looker Data Sciences, Inc., Alteryx, Board International S. A, Logi Analytics, Inc., Pyramid Analytics, Birst, Inc., Datorama, Panorama Software Ltd., DataRobot, Inc., RapidMiner, Inc., BIME Analytics
North America was the largest region in the augmented analytics market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the augmented analytics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the augmented analytics market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain.
The augmented analytics market includes revenues earned by entities by providing tools and solutions that make it simpler for company users and executives to discover relevant information. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified)).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
This product will be delivered within 3-5 business days.
Table of Contents
1. Executive Summary2. Augmented Analytics Market Characteristics3. Augmented Analytics Market Trends And Strategies31. Global Augmented Analytics Market Competitive Benchmarking32. Global Augmented Analytics Market Competitive Dashboard33. Key Mergers And Acquisitions In The Augmented Analytics Market
4. Augmented Analytics Market - Macro Economic Scenario
5. Global Augmented Analytics Market Size and Growth
6. Augmented Analytics Market Segmentation
7. Augmented Analytics Market Regional And Country Analysis
8. Asia-Pacific Augmented Analytics Market
9. China Augmented Analytics Market
10. India Augmented Analytics Market
11. Japan Augmented Analytics Market
12. Australia Augmented Analytics Market
13. Indonesia Augmented Analytics Market
14. South Korea Augmented Analytics Market
15. Western Europe Augmented Analytics Market
16. UK Augmented Analytics Market
17. Germany Augmented Analytics Market
18. France Augmented Analytics Market
19. Italy Augmented Analytics Market
20. Spain Augmented Analytics Market
21. Eastern Europe Augmented Analytics Market
22. Russia Augmented Analytics Market
23. North America Augmented Analytics Market
24. USA Augmented Analytics Market
25. Canada Augmented Analytics Market
26. South America Augmented Analytics Market
27. Brazil Augmented Analytics Market
28. Middle East Augmented Analytics Market
29. Africa Augmented Analytics Market
30. Augmented Analytics Market Competitive Landscape And Company Profiles
34. Augmented Analytics Market Future Outlook and Potential Analysis
35. Appendix
Executive Summary
Augmented Analytics Global Market Report 2024 provides strategists, marketers and senior management with the critical information they need to assess the market.This report focuses on augmented analytics market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Reasons to Purchase
- Gain a truly global perspective with the most comprehensive report available on this market covering 50+ geographies.
- Understand how the market has been affected by the COVID-19 and how it is responding as the impact of the virus abates.
- Assess the Russia - Ukraine war’s impact on agriculture, energy and mineral commodity supply and its direct and indirect impact on the market.
- Measure the impact of high global inflation on market growth.
- Create regional and country strategies on the basis of local data and analysis.
- Identify growth segments for investment.
- Outperform competitors using forecast data and the drivers and trends shaping the market.
- Understand customers based on the latest market shares.
- Benchmark performance against key competitors.
- Suitable for supporting your internal and external presentations with reliable high quality data and analysis
- All data from the report will also be delivered in an excel dashboard format.
Description:
Where is the largest and fastest growing market for augmented analytics? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? This report answers all these questions and many more.The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.
- The market characteristics section of the report defines and explains the market.
- The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
- The forecasts are made after considering the major factors currently impacting the market. These include:
- The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
- The impact of higher inflation in many countries and the resulting spike in interest rates.
- The continued but declining impact of COVID-19 on supply chains and consumption patterns.
- Market segmentations break down the market into sub markets.
- The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
- The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
- The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
Scope
- Markets Covered: 1) By Component: Software; Services 2) By Deployment Type: On-Premises; Cloud 3) By Services: Training And Consulting; Deployment And Integration; Support And Maintenance
- Companies Mentioned: Salesforce, Inc.; SAP SE; The International Business Machines Corporation; Microsoft Corporation; Oracle Corporation
- Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
- Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
- Time series: Five years historic and ten years forecast.
- Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
- Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
- Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
- Delivery format: PDF, Word and Excel Data Dashboard.
Companies Mentioned
- Salesforce, Inc.
- SAP SE
- The International Business Machines Corporation
- Microsoft Corporation
- Oracle Corporation
- Tableau Software
- MicroStrategy Incorporated
- SAS Institute Inc.
- QlikTech International AB
- TIBCO Software India Pvt. Ltd
- Sisense Ltd.
- Cloud Software Group, Inc.
- Yellowfin
- ThoughtSpot Inc.
- Domo, Inc.
- Alation, Inc.
- Tamr
- Paxata
- Attivio
- Arcadia Solutions, LLC
- Squirro AG
- GoodData Corporation
- Looker Data Sciences, Inc.
- Alteryx
- Board International S. A
- Logi Analytics, Inc.
- Pyramid Analytics
- Birst, Inc.
- Datorama
- Panorama Software Ltd.
- DataRobot, Inc.
- RapidMiner, Inc.
- BIME Analytics
