Global Augmented Analytics Industry: Key Statistics and Insights in 2024–2032

Summary:

• The global augmented analytics market size reached USD 12.8 Billion in
• The market is expected to reach USD 73.1 Billion by 2032, exhibiting a growth rate (CAGR) of 20.9% during 2024–2032.
• North America leads the market, accounting for the largest augmented analytics market share.
• Software accounts for the majority of the market share in the component segment due to its integral role in delivering advanced analytics capabilities.
• On-premises holds the largest share in the augmented analytics industry.
• Large enterprises remain a dominant segment in the market owing to their extensive data needs and complex analytics requirements.
• BFSI represents the leading industry vertical segment.
• The integration of artificial intelligence (AI) and machine learning (ML) technologies is a primary driver of the augmented analytics market.
• The growing adoption of self-service analytics, along with the intensified focus on data-driven decision-making, are reshaping the augmented analytics market.

Industry Trends and Drivers:

● Growing adoption of AI and ML:

The increasing integration of artificial intelligence (AI) and machine learning (ML) in analytics platforms represents one of the key factors propelling the market growth. These technologies automate tasks, such as data preparation, insight generation, and predictive analysis, allowing businesses to make quicker, more informed decisions. As companies are realizing the benefits of AI and ML in enhancing their analytics capabilities, there is a rise in the demand for these tools. Augmented analytics platforms powered by AI are enabling users to uncover patterns and trends in data with minimal manual intervention. This is reducing the complexity of analyzing vast datasets and democratizing access to advanced analytics, making it easier for non-experts to leverage data for strategic decision-making.

● Rising demand for self-service analytics:

Businesses are adopting platforms that allow non-technical users to interact with data directly, bypassing the need for specialized data teams. Augmented analytics tools are providing intuitive interfaces, enabling employees from various departments to analyze data, generate insights, and make real-time decisions. This democratization of data access is enhancing operational agility and reducing dependence on information technology (IT) departments. As companies are seeking to empower their workforce with tools for faster and more effective data analysis, the adoption of self-service analytics platforms is accelerating, contributing significantly to the growth of the market.

● Increasing focus on data-driven decision making:

The growing emphasis on data-driven decision-making is offering a favorable market outlook. Companies in various industries, including retail, finance, and healthcare, are relying on data to guide their strategic and operational decisions. Augmented analytics platforms, which combine automated insights with advanced analytics, enable organizations to process large amounts of data quickly and efficiently. These tools are allowing businesses to make real-time decisions based on accurate data, improving overall outcomes. As competition is increasing, more companies are adopting data-driven approaches to stay ahead, driving the demand for augmented analytics solutions that can streamline data analysis and enhance decision-making capabilities across the board.

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Augmented Analytics Market Report Segmentation:

Breakup By Component:

• Software
• Services

Software represents the largest segment because it encompasses a wide range of tools and platforms necessary for performing augmented analytics functions, such as data visualization, predictive analytics, and automated insights.

Breakup By Deployment Mode:

• On-premises
• Cloud-based

On-premises accounts for the majority of the market share due to its ability to offer control, security, and customization for organizations handling sensitive data and complex analytics needs.

Breakup By Organization Size:

• Small and Medium-sized Enterprises (SMEs)
• Large Enterprises

Large enterprises exhibit a clear dominance in the market, as they have the resources and infrastructure to invest in advanced augmented analytics solutions and leverage them for comprehensive data analysis and decision-making.

Breakup By Industry Vertical:

• BFSI
• Retail
• Healthcare and Life Sciences
• Telecom and IT
• Manufacturing
• Government
• Transportation and Logistics
• Others

BFSI holds the biggest market share, which can be attributed to the need for sophisticated analytics to manage vast amounts of financial data, detect fraud, and enhance customer experiences.

Breakup By Region:

• North America (United States, Canada)
• Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
• Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa

North America enjoys the leading position in the augmented analytics market owing to its advanced technological infrastructure, high adoption rates of analytics solutions, and presence of major market players in the region.

Top Augmented Analytics Market Leaders: 

The augmented analytics market research report outlines a detailed analysis of the competitive landscape, offering in-depth profiles of major companies. Some of the key players in the market are:

• Domo Inc.
• International Business Machines Corporation
• Microsoft Corporation
• Oracle Corporation
• QlikTech International AB
• Salesforce Inc., SAP SE
• Sisense Inc.
• ThoughtSpot Inc.
• TIBCO Software Inc.
• Yellowfin International Pty Ltd (Idera Inc.).

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