Augmented Analytics Market Size, Historical Analysis, Development Strategy, Sales Revenue, Competitive Landscape, Regional Trends and Comprehensive Research Study 2023
Apr 5, 2019
Market Research Future published a research report on “Augmented Analytics Market Research Report – Global Forecast till 2023” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2023.
Pune, India - April 5, 2019 /MarketersMedia/ —
Market Scenario
Augmented analytics tools are used to analyze automated data with the support of machine learning techniques and natural language processing technology. Augmented data streamline the processes for data profiling, and data modelling thereby supports reuse and data governance. The approach also able to combine artificial intelligence and business intelligence and has huge potential to support technical as well as non-technical users to automate their data analytics tools. Further, it also automates predictive and prescriptive tools along with providing historical reports and dashboards.
Global Augmented Analytics market was valued at USD 4.20 billion in 2017 and is estimated to reach market value of USD 13 billion by 2023 growing with 24% CAGR during forecast period 2018-2023. Increasing volume of complex data, increasing adoption of analytical tools for business intelligence, and development in artificial intelligence technology are some crucial driving factors for the growth of this market. However, lack of skilled workforce is expected to hamper the market growth in coming years. Development in blockchain and modernization of digital technology are expected to shape a fruitful opportunity for augmented analytics market during the forecast period. Whereas, high cost of analytical tools, and analyzing the huge generated data by maintaining quality and safety are some of the major challenges faced by the market.
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Market Segmentation:
The global Augmented Analytics market is segmented into component, deployment mode, organization size, vertical, and region. By component, the market is segmented into software, and services. Services segment is further sub-segmented into professional and managed services. By deployment, the market is segmented into on-premise, on-cloud and hybrid. By organization size, the market is sub-segmented into SMEs and large enterprises. By vertical, the market is classified into BFSI, Government & defense, IT & Telecommunication, Retail, manufacturing, energy & utilities, transportation, media & entertainment, and healthcare among others.
Key Players:
The market players follow several organic and inorganic growth strategies, under which they focus on partnerships, agreements, collaborations, mergers, acquisitions, business expansion, product launches, and product enhancements to strengthen their position and excel in the global Augmented Analytics Market.
The global Augmented Analytics market is characterized by the presence of many global, regional, and local vendors. Market Research Future has identified following key players in the market – Salesforce, SAP SE, IBM Corporation, Microsoft Corporation, Oracle, Tableau Software, SAS, Tibco Software, Sisense, Qlik, MicroStrategy, Looker, Yellowfin, Board International, Logi Analytics, Pyramid Analytics, and Birst among others. Among these, Microsoft corporation, Tableau, and Qlik are leading the augmented analytics market in terms of their product offerings and customer reach. MicroStrategy Inc., a software provider of business intelligence, mobile software and cloud-based services, is projected to be a challenger for the leaders of the market.
Regional analysis
The market for Augmented Analytics market is estimated to grow at a significant rate during the forecast period 2018 to 2023. The geographical analysis of Augmented Analytics market is studied for North America (U.S, Canada, and Mexico), Europe (Germany, U.K, France, Russia, Italy, Spain, and Rest of Europe), Asia-Pacific (China, Japan, India, Singapore, Australia, South Korea and Rest of Asia-Pacifc), and the Rest Of The World (including the Middle East & Africa, and South America).
Currently, North America is a leading market in Augmented Analytics. North America is an established region in terms of advanced infrastructure and is widely known as an early adopter of new technologies. Advancements in technologies such as machine learning, and natural language processing has developed fruitful opportunities for the development of Augmented Analytics solutions in the region.
Europe is the second highest revenue generating market for Augmented Analytics. High adoption of identity access management solutions by IT & telecommunication, and government sector, and increase spending on analytics tools by key players such as SAP SE in the region are the factors propelling the growth of European augmented analytics market.
Asia-Pacific is projected to grow with fastest growing CAGR. Increasing development in machine learning technology, among enterprises, government support for digitization, high investment in advanced analytics solution by China are some of the major driving factors for the growth of this market in the region.
Market Developments:
In January 2019, AVORA, enterprise analytics platform providers announced its investment of USD 6.5 million in the development of machine learning algorithms and augmented intelligence. With this investment fund, the company is also looking to enhance its leadership and sales team.
In February 2019, Tableau Software releases a software named as “Ask Data” integrated with natural language processing. This software is able to provide prompt visual responses for a query asked by user in plain language.
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Intended Audience
• Software vendors
• Supply and Distribution vendors
• Government
• Research organizations and associations
• Resellers
• End-user verticals
• Small & medium sized enterprises
• Industry associations
About Us:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by Components, Application, Logistics and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.
In order to stay updated with technology and work process of the industry, MRFR often plans & conducts meet with the industry experts and industrial visits for its research analyst members.
Contact Info:
Name: Abhishek Sawant
Organization: Market Research Future
Website: https://www.marketresearchfuture.com
Source: MarketersMedia
Release ID: 499238
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