Global Augmented Analytics Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2028
“Global Augmented Analytics Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2028” is a recent report generated by MarketResearch.biz. The global augmented analytics market report has been segmented on the basis of component, organization size, deployment type, industry vertical, and region.
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 (SME’s) 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:
- Deployment and Integration
- Support and Maintenance
- Training and Consulting Services
Segmentation by Organization Size:
- Large Enterprises
- Small and Medium Scale Enterprises (SME’s)
Segmentation by Deployment Type:
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.)
Segmentation by Region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Particular Scope Region
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
Actual Year 2020 Estimated Year 2021 Forecast Period 2021–2030 Revenue in US$
- SAP SE
- SAS Institute Inc.
- SiSense, Inc.
- Tibco Software
- IBM Corporation
- Microstrategy, Inc.
- Oracle Corporation
- Microsoft Corporation
- Tableau Software, Inc.
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