The global augmented analytics market size is expected to reach USD 22,390.1
million by 2025, according to a new report by Grand View Research, Inc. The
market is anticipated to expand at a CAGR of 25.2% from 2019 to 2025.
Data has become one of the most critical
assets for any organization. Every organization’s progress depends on how
correctly the data resources are being used. To ensure that data resources are
appropriately used, enterprises are depending on data scientists, which are
rare resources, to get actionable insights. This has driven the adoption of
augmented analytics among organizations, which eliminates the dependency on
data scientists. The augmented analytics technology allows enterprises to get
consistent data with fewer errors in lesser time. It also accelerates data
preparation and discovery with the help of advanced tools such as machine
learning and artificial intelligence. In addition, it eliminates the
requirement of any technical person to write algorithms for creating data
analysis models that can determine insights.
The field of data analytics has evolved
significantly in recent years. The increasing requirement of data scientists to
analyze massive volumes of data to derive actionable insights has generated the
need for augmented analytics. The technology automates the data science steps
and analysis used in the process of advanced analytics, thereby providing
actionable insights from data. This is done by using linguistic and statistical
technologies to break down big data into small chunks that are more usable.
The augmented analytics technology has
helped in delivering more detailed and relevant insights from the copious
amount of data stored within an organization or generated during everyday operations
and procedures. Factors such as rising demand of intelligent business tools in
the field of data analytics, increasing adoption of smart discovery tools for
business users, rising need for an increase in productivity, and the growing
adoption of technology across diversified industry verticals are propelling the
growth of the augmented analytics market.
Access Research Report of Augmented Analytics Market @ https://www.grandviewresearch.com/industry-analysis/augmented-analytics-market
Further key findings from the report suggest:
· Increasing adoption of predictive and
prescriptive analytics to determine the information and appropriate reasoning
for any analysis coupled with the growing need for data quality management to
clean and prepare data and distribute it across the enterprise will spur the
growth of the market
· The adoption of cloud-based analytics is
expected to increase due to capabilities such as agility and quick response
time along with robustness offered by the cloud
· The integration of artificial intelligence
and automation into augmented analytics technology is augmenting the user
experience by providing capabilities such as chatbots to enable real-time
services to customers
· The North American region dominated the
augmented analytics market in 2018. The Asia Pacific region is projected to
register the highest CAGR from 2019 to 2025
· Key competitors in the market are Microsoft
Corporation, IBM Corporation, SAP SE, Qlik Technologies Inc., Tableau Software
Inc., Sisense Inc., Salesforce.com, Inc., TIBCO Software Inc., SAS Institute
Inc., and MicroStrategy Incorporated.
Grand View Research has segmented the
global augmented analytics market on the basis of enterprise size, component,
deployment type, industry vertical, and region:
Augmented Analytics Enterprise Size Outlook
(Revenue, USD Million, 2014 - 2025)
·
SMBs
·
Large Enterprises
Augmented Analytics Component Outlook
(Revenue, USD Million, 2014 - 2025)
·
Software
·
Services
o
Training Services
o
Consulting Services
o
Implementation Services
o
Support and Maintenance Services
Augmented Analytics Deployment Type Outlook
(Revenue, USD Million, 2014 - 2025)
·
Cloud
·
On-premise
Augmented Analytics Industry Vertical
Outlook (Revenue, USD Million, 2014 - 2025)
·
Retail & E-commerce
·
Healthcare
·
BFSI
·
IT and Telecommunication
·
Manufacturing
·
Government
·
Energy utilities
·
Others
Augmented Analytics Regional Outlook
(Revenue, USD Million, 2014 - 2025)
·
North America
o
U.S.
o
Canada
o
Mexico
·
Europe
o
Germany
o
U.K.
o
France
·
Asia Pacific
o
China
o
Japan
o
India
·
South America
o
Brazil
·
Middle East and Africa (MEA)
About Grand View Research
Grand View Research,
Inc. is a U.S. based market research and consulting company, registered in the
State of California and headquartered in San Francisco. The company
provides syndicated research reports, customized research reports, and consulting
services. To help clients make informed business decisions, we offer market
intelligence studies ensuring relevant and fact-based research across a range
of industries, from technology to chemicals, materials and healthcare.
