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Augmented Analytics Global Market Report 2022

·4-min read

Major players in the augmented analytics market are Salesforce, SAP, IBM, Microsoft, Oracle, Tableau, MicroStrategy, SAS, Qlik, TIBCO Software, Sisense, Information Builders, Yellowfin, ThoughtSpot and Domo.

New York, Sept. 16, 2022 (GLOBE NEWSWIRE) -- announces the release of the report "Augmented Analytics Global Market Report 2022" -

The global augmented analytics market is expected to grow from $8.31 billion in 2021 to $9.51 billion in 2022 at a compound annual growth rate (CAGR) of 14.43%. The augmented analytics market is expected to grow to $21.70 billion in 2026 at a compound annual growth rate (CAGR) of 22.90%.

The augmented analytics market consists of sales of augmented analytics solutions by entities (organizations, sole traders, and partnerships) that consist of enabling technologies like machine learning and artificial intelligence (AI), where individuals look at platforms for company information and analytics to enhance and analyze data. Augmented analytics assists with data preparation, insight generation, and explanation that augments experts and data scientists with the automation of developing, managing, and deployment of data science machine learning and artificial intelligence models.

The main component of augmented analytics are software and services.Software consists of advanced driven analytics applications such as artificial intelligence that provide advanced insights into business performance and market conditions which are used to make business decisions and strategies.

The deployment types are on-premises and cloud.The services offered by augmented analytics are training and consulting, deployment and integration, support and maintenance which are used in large enterprises, small and medium-sized enterprises (SMEs).

The verticals using augmented analytics includes banking, financial services, and insurance (BFSI), telecom and IT, retail and consumer goods, healthcare and life sciences and other verticals.

North America was the largest region in the augmented analytics market in 2021.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 and Africa.

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 increasing demand for the adoption of business intelligence (BI) tools is expected to propel the growth of the augmented analytics market.The adoption of business intelligence tools is used to simplify more frequent data-driven decision-making.

It is used from the data scientists to employees on the front lines where the departments and teams will gain insights into the data, which helps to promote data democratization all over the organization.According to a survey report of over 5,000 organizations on the business intelligence market by Dresner Advisory Services, LLC, in June 2021, executive adoption of business intelligence is significantly high at 64%, followed by middle and line managers at 40%.

Therefore, the increasing demand for the adoption of business intelligence (BI) tools drives the augmented analytics market growth.

Technology advancement is gaining popularity in the augmented analytics market.Major players in the augmented analytics market focus on innovative products to obtain an edge in the market against their competitors.

For instance, In April 2022, India-based Smarten Augmented Analytics company announced the addition of sentiment analysis features and functionality to its cutting-edge augmented analytics solution. This addition provides businesses with tools for understanding what customers, stakeholders, and others think, allowing organizations to enhance their products and services.

In October 2021, Qlik, a Sweden-based business analytics company announced the acquisition of Big Squid for an undisclosed amount.Through this deal, Qlik aims to expand its data and analytics team’s ability to used advanced augmented analytics capabilities such as key driver analysis, predictive analytics.

Big Squid Inc. is a US-based Predictive Analytics software company offering augmented analytics.

The countries covered in the augmented analytics market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA.
Read the full report:

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