This market research report includes a detailed segmentation of the global augmented analytics market by component (software and services), deployment type (cloud and on-premises) by vertical (BFSI, Telecom & IT, Healthcare & Life Sciences, Manufacturing, and Others), and region (North America, Europe, Asia Pacific, Middle East Africa, and Latin America). The market research report identifies Salesforce, IBM, Microsoft, SAS, SAP, TIBCO Software, Qlik, Sisense, Microstrategy, and ThoughtSpot as the leading players in the global augmented analytics market.
Overview of the Augmented Analytics Market
Infoholic’s market research report predicts that the global augmented analytics market will grow at a CAGR of more than 30% during the forecast period 2019–2025. The market trends for augmented analytics are primarily driven by the increasing demand from organizations to extract data and derive value from collected data. An integrated approach using NLP and ML to derive customer insights is driving the growth of the market. The implementation of augmented analytics in applications of BPM, CRM, and ERP will derive higher growth sectors for enterprises to capitalize on various business data.
Enormous data are generated through sensors and mobile applications these days. Globally, organizations are adopting various technologies to filter these data and utilize in marketing and to delight the customers. Several enterprise software vendors are focusing on strengthening their capabilities in augmented analytics.
According to our analysis of augmented analytics market, North America accounts for the largest market share in 2019. With the presence of the high number of technology innovators and market disruptors in North America, the adoption of this analytics software is expected to rapidly increase in the US and Canada. Several enterprises in this region are proactively looking for areas to monetize new revenue streams and diversify its product line. Asia Pacific is anticipated to grow substantially due to the market potential in China, India, & Australia and investments in IoT, mobility, & security. The augmented analytics market is growing with an increase in investments due to its features to filter data that impacts business for enterprises. The Asia Pacific region is anticipated to grow at a high CAGR owing to the presence of many growing large & emerging enterprises increasing its customer base. The key components in the market would be various technology influx of technologies in automation and taking business decision with the help of augmented analytics. The significant adoption of augmented analytics is expected to be witnessed in BFSI and IT & Telecom. The augmented analytics is in the early stage of implementation and is expected to grow multi-fold during the forecast period. One of the important features that augmented analytics provide is a quick visualization of important parameters in the dashboards for taking informed decisions for enterprises.
Augmented Analytics Competitive Analysis and Key Vendors
The report covers and analyzes the augmented analytics market. The system consists of few established and emerging players focusing on digital technologies including NLP, ML, and AI. The key players in the market are adopting various inorganic growth strategies, i.e., partnership and acquisitions to be in a strong position with distinguished products. The augmented analytics help in bringing synergy to various enterprise applications. It is typically helpful in large enterprises which becomes difficult to manage each and every process in an organization.
Some of the Key Vendors in the Augmented Analytics Market:
- TIBCO Software
These companies are striving in the market sphere by leveraging latest technologies empowering data to be the key driver for market growth to its clients. Most of the vendors are offering cloud-based analytics through SaaS model.
These vendors have been studied based on the portfolio, geographical presence, marketing & distribution channels, revenue generation, and significant investments in R&D for analysis of the entire ecosystem.
Augmented Analytics Market Segmentation By Component
- Support and Maintenance
- Training and Consulting
The services segment is expected to grow at a higher CAGR during the forecast period 2019–2025.
Augmented Analytics Market Segmentation By Deployment Type
The on-premises segment is estimated to hold the largest market share in 2019 and cloud-based offering is expected to grow tremendously during the forecast period 2019–2025.
Augmented Analytics Market Segmentation By Vertical
- Telecom and IT
- Healthcare and Life Sciences
The BFSI segment is estimated to hold the largest market share in 2019 and this trend is likely to continue during the forecast period 2019–2025.
The report provides an in-depth analysis of the augmented analytics market. The augmented analytics fetches data in a complex environment where various technologies of automation, mobility, cloud, AI, and others are coupled to offer innovative solutions that help in business decision making. By analyzing various customer data and business growth enablers, enterprises are expected to grow during the forecast period using augmented analytics. The report discusses the market size in terms of component, deployment type, industry, and region. Furthermore, the report provides details about the major challenges impacting the market growth.