Global Augmented Analytics Market 2021 (Includes Business Impact of COVID-19)

                                          
Report updated on 11th September, 2021: Global Augmented Analytics Market 2021 (Includes Business Impact of COVID-19)
Global Augmented Analytics Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2030 is a recent report generated by Trusted Business Insights. The global augmented analytics market report has been segmented on the basis of component, organization size, deployment type, industry vertical, and region.
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Global Augmented Analytics Market: Overview


The terminology of augmented analytics is to provide automated data insights by applying machine learning and natural language technological algorithms. These applications of languages automate data preparation and enables data sharing. A machine learning is an application of artificial intelligence and is a collection of algorithms that helps in analyzing the data. In addition, a natural language generation (NLG), which refers to a process that translates the machine learning algorithms findings into human understandable format such as words and phrases aids in successful processing of augmented analytics. Augmented analytics offers advanced technology in order to use, manipulate, and present data, and this helps in providing access to sophisticated tools with simplified view of business data, as well as helps users to make day-to-day decisions with first hand predictions.


Global Augmented Analytics Market: Dynamics


From the recent past, companies are more focused on expanding their product portfolio to increase sales of their products and services. In addition, organizations have large data silos that can offer various business strategy implications, but the data needs to be analyzed. Augment analytics offers advanced version of data analytics with inbuilt application of artificial intelligence. Augment analytics can provide solutions to over-increasing volume of complex business data by embedding machine learning algorithms and other advanced analytics functionality into business intelligence tools. These tools display accurate and relevant data that help enterprises to gain highly-classified data insights and aid in data visualizations. Aforementioned are major factors expected to drive growth of the global market over the forecast period.

However, high installation cost associated with augmented analytic systems is a major factor that could hamper growth of the market to a certain extent.

In addition, complex integration of various data analytics techniques and algorithms, and rising concerns associated with data quality and breaches are some major challenging factors that may hamper growth of the target market.

Key trend observed in the global market is increasing implementation of augment analytics by small and medium scale enterprises in various industries across the globe.


Global Augmented Analytics Market: Segment Analysis


Among the organization size segments, the small and medium scale enterprises (SMEs) segment is expected to register highest CAGR in the global market, owing to need to enhance operational productivity and maximize profits through accurate assessment of data and to compete with large organizations.


Global Augmented Analytics Market: Regional Analysis


North America market is expected to dominate in the global market, and is projected to continue with its dominance over the forecast period, owing to high adoption of advanced analytics solutions such as Natural Language Processing (NLP), Machine Learning (ML), and smart data preparation and discovery in various industrial verticals.

The market in Asia Pacific is expected to register second-highest CAGR in the next 10 years, followed by market in Latin America. Markets in Europe and Middle East & Africa are expected to register lucrative growth in the global market over the forecast period.

Global Augmented Analytics Market Segmentation:

Segmentation by Component:

  
Software
  
Services
  
Deployment and Integration
  
Support and Maintenance
  
Training and Consulting Services

Segmentation by Organization Size:

  
Large Enterprises
  
Small and Medium Scale Enterprises (SMEs)

Segmentation by Deployment Type:

  
Cloud
  
On-Premises

Segmentation by Industry Vertical:

  
Media and Entertainment
  
Government and Defense
  
Transportation and Logistics
  
Retail and Consumer Goods
  
Healthcare and Pharmaceuticals
  
Telecom and Information Technology (IT)
  
Banking, Financial Services, and Insurance (BFSI)
  
Others (Manufacturing, Energy and Utilities, Real Estates, etc.)


Key Market Players included in the report:


  
Domo Inc.,
  
IBM Corporation
  
Information Builders (US)
  
Microsoft Corporation
  
MicroStrategy Incorporated.
  
Oracle (US)
  
QlikTech International AB
  
Salesforce (US)
  
SAP Analytics Cloud
  
SAS Institute Inc.
  
Sisense Inc.
  
TABLEAU SOFTWARE
  
ThoughtSpot Inc.
  
TIBCO Software Inc.
  
Yellowfin International