The global augmented analytics market size reached US$ 10.4 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 40.6 Billion by 2028, exhibiting a growth rate (CAGR) of 23.2% during 2023-2028.
Augmented analytics refers to the integration of enabling technologies, such as machine learning (ML) and artificial intelligence (AI), to assist with data preparation and insight generation and explanation. It helps understand the way people explore and analyze data in analytics and business intelligence (BI) platforms. It also supports expert and citizen data scientists by automating different aspects of data science, ML, and AI model development, management, and deployment. Nowadays, business users and executives are relying on augmented analytics to obtain value from their datasets quickly without the requirement of deep technical skills or expertise in working with the data.
Augmented Analytics Market Trends:
Due to the global expansion of businesses, organizations are focusing on adopting advanced technologies to digitally transform their processes. As this leads to the generation of modern data, which is complex and difficult to understand and interpret, there is a rise in the demand for augmented analytics to easily find relevant data and quickly uncover insights. Moreover, marketing and communications agencies are using the analytics to explore the effectiveness of ad campaigns and discover variables hidden in the data. Additionally, travel and hospitality organizations rely on augmented analytics for finding the optimal, personalized offers to upsell or cross-sell customers. This, in confluence with growth in the hospitality sector driven by the efforts undertaken by governments of numerous countries to promote travel and tourism in their countries, is contributing to the growth of the market. Besides this, augmented analytics is gaining traction in areas like patient care, training, operations, and drug research of the healthcare industry. Furthermore, the increasing focus on enhancing staff coordination for improving patient care quality is anticipated to drive the market.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global augmented analyticsmarket report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on component, deployment mode, organization size and industry vertical.
Breakup by Component:
Breakup by Deployment Mode:
Breakup by Organization Size:
Small and Medium-sized Enterprises (SMEs)
Breakup by Industry Vertical:
Healthcare and Life Sciences
Telecom and IT
Transportation and Logistics
Breakup by Region:
Middle East and Africa
The competitive landscape of the industry has also been examined along with the profiles of the key players being Domo Inc., International Business Machines Corporation, Microsoft Corporation, Oracle Corporation, QlikTech International AB, Salesforce Inc., SAP SE, Sisense Inc., ThoughtSpot Inc., TIBCO Software Inc. and Yellowfin International Pty Ltd (Idera Inc.).
Base Year of the Analysis
Component, Deployment Mode, Organization Size, Industry Vertical, Region
Asia Pacific, Europe, North America, Latin America, Middle East and Africa
United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Domo Inc., International Business Machines Corporation, Microsoft Corporation, Oracle Corporation, QlikTech International AB, Salesforce Inc., SAP SE, Sisense Inc., ThoughtSpot Inc., TIBCO Software Inc. and Yellowfin International Pty Ltd (Idera Inc.)
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Key Questions Answered in This Report
The global augmented analytics market was valued at US$ 10.4 Billion in 2022.
We expect the global augmented analytics market to exhibit a CAGR of 23.2% during 2023-2028.
The rising adoption of augmented analytics across the travel and hospitality organizations for finding the optimal and personalized offers that upsell or cross-sell customers is primarily driving the global augmented analytics market.
The sudden outbreak of the COVID-19 pandemic has led to the increasing deployment of augmented analytics across the healthcare sector for patient care, training, operations, and drug research of the coronavirus infection.
Based on the component, the global augmented analytics market has been divided into software and services. Currently, software currently exhibits a clear dominance in the market.
Based on the deployment mode, the global augmented analytics market can be categorized into on-premises and cloud-based, where on-premises currently account for the majority of the global market share.
Based on the organization size, the global augmented analytics market has been segregated into Small and Medium-sized Enterprises (SMEs) and large enterprises. Currently, large enterprises hold the largest market share.
Based on the industry vertical, the global augmented analytics market can be bifurcated into BFSI, retail, healthcare and life sciences, telecom and IT, manufacturing, government, transportation and logistics, and others. Among these, the BFSI industry exhibits a clear dominance in the market.
On a regional level, the market has been classified into North America, Asia-Pacific, Europe, Latin America, and Middle East and Africa, where North America currently dominates the global market.
Some of the major players in the global augmented analytics market include Domo Inc., International Business Machines Corporation, Microsoft Corporation, Oracle Corporation, QlikTech International AB, Salesforce Inc., SAP SE, Sisense Inc., ThoughtSpot Inc., TIBCO Software Inc., and Yellowfin International Pty Ltd (Idera Inc.).
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