Pune, India, Oct. 05, 2023 (GLOBE NEWSWIRE) -- The global augmented analytics market size was valued at USD 15.84 billion in 2022 and is projected to reach USD 66.54 billion by 2030, exhibiting a CAGR of 19.9% over the forecast period. Fortune Business Insights presents this information in their latest report titled "Global Augmented Analytics Market Forecast, 2023-2030."
Rapid integration of innovative technologies in augmented analytics to analyze data, including machine learning, artificial intelligence, and natural language processes, is expected to fuel market expansion over the forecast period. Organizations can make fast and intelligent decisions with the help of augmented analytics, which boosts its market growth.
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Key Industry Development
September 2021 – A no-code automated ML supplier, Big Squid, was acquired by QlikTech International AB to improve its augmented analytics with innovative features. It comprises API deployable key driver analysis, AI models, on-demand predictive analytics, and more that offer trusted and up-to-date data for organizations.
Key Takeaways
- Augmented analytics market size in North America was USD 5.89 billion in 2022
- Rapid Technological Adoption amid the Pandemic Accelerated Market Growth
- Growing Emphasis on Enhancing Business Decision-making to Drive BFSI Segment Growth
- Large Enterprises to Gain Maximum Share Due to Increasing Investments in Digital Solutions
Discover the Leading Players Featured in the Report:
“Companies leading the global augmented analytics market are QlikTech International AB (U.S.), Salesforce Inc. (U.S.), IBM Corporation (U.S.), Microsoft Corporation (U.S.), Oracle Corporation (U.S.), TIBCO Software Inc. (U.S.), SAP SE (Germany), SAS Institute Inc. (U.S.), MicroStrategy Inc. (U.S.), Tableau Software, LLC (U.S.)”
Report Scope & Segmentation
| Report Coverage | Details |
| Forecast Period | 2023 to 2030 |
| Forecast Period 2023 to 2030 CAGR | 19.9% |
| 2030 Value Projection | USD 66.54 Billion |
| Base Year | 2022 |
| Augmented Analytics Market Size in 2022 | USD 15.84 Billion |
| Historical Data for | 2019 to 2021 |
| No. of Pages | 120 |
| Segments covered | Enterprise Type, End User and Geography |
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Drivers and Restraints
Increasing Adoption of Easy-to-Use No Code or Low Code Solutions is Driving Market Growth
With the convenience of drag-and-drop applications, low-code or no-code solutions benefit both developers and organizations. Since staff don’t need to be trained in technical details, the enterprise can gain a benefit from technology. No-code technology offers the company with seedy and flexible features. This is the major force behind the market expansion. For instance,
In March 2023, by partnering with OpenAI platform, Israel-based Pyramid Analytics launched artificial intelligence-driven augmented efficiency. Its no-code and AI-assisted features boosted the substantial adoption of the technology.
On the other hand, several companies have witnessed data theft due to increasing digital solution adoption. This is hampering market growth.
Segmentation
By Enterprise Type
- Large Enterprises
- Small and Medium Enterprises
By End-user
- BFSI
- IT & Telecom
- Government
- Retail
- Healthcare
- Manufacturing
- Transport & Logistics
- Others (Energy & Utility)
By Region
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- South America
Regional Insights
Rise in Digitalization to Fuel Market Progress in North America
North America to gain the leading augmented analytics market share. A rise in digitalization and intensifying competition are the major elements driving market expansion in the region. The prominent presence of top market participants is stimulating market revenue in the U.S.
The market in Asia Pacific is projected to rise rapidly during the projected period. Increasing acceptance of digital technologies in the region to augment market expansion. The increasing need for customer insights using advanced tools in highly populated countries is driving market growth.
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Competitive Landscape
Leading Companies Foster Market Growth through Partnerships and Innovations
Top market players are implementing various strategies to maintain their dominance globally. They are focusing on collaborations with several companies to increase their presence across sectors. These partnerships can help major market participants to gain a loyal customer base and increase sales.
FAQs
How big is the augmented analytics market?
The global augmented analytics market size was USD 15.84 billion in 2022. It is expected to reach USD 66.54 billion by 2030.
How fast is the augmented analytics market growing?
The global augmented analytics market will exhibit a CAGR of 19.9% during the forecast period, 2023-2030.
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