The analysis of automated data is gaining importance due to a broad application base. Reports that explore the information and communication technology industry have been presented by Market Research Future, which produces reports on industry verticals that appraise the market expansion and prospects. The income generation in the market is expected to be valued at USD 13 billion by 2023 while increasing with a 24 % CAGR.
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The integration of business intelligence and artificial intelligence is anticipated to strengthen the augmented analytics market. The need to automate predictive and prescriptive tools is predicted to create favorable impetus for market progress in the coming years. The development in blockchain technology is expected to create a promising outlook for progress in the augmented analytics market during the forecast period.
The global Augmented Analytics market is segmented into component, deployment mode, organization size, vertical, and region. By component, the market is segmented into software, and services. Services segment is further sub-segmented into professional and managed services. By deployment, the market is segmented into on-premise, on-cloud and hybrid. By organization size, the market is sub-segmented into SMEs and large enterprises. By vertical, the market is classified into BFSI, Government & defense, IT & Telecommunication, Retail, manufacturing, energy & utilities, transportation, media & entertainment, and healthcare among others.
The market for Augmented Analytics market is estimated to grow at a significant rate during the forecast period 2018 to 2023. The geographical analysis of Augmented Analytics market is studied for North America (U.S, Canada, and Mexico), Europe (Germany, U.K, France, Russia, Italy, Spain, and Rest of Europe), Asia-Pacific (China, Japan, India, Singapore, Australia, South Korea and Rest of Asia-Pacifc), and the Rest Of The World (including the Middle East & Africa, and South America).
Currently, North America is a leading market in Augmented Analytics. North America is an established region in terms of advanced infrastructure and is widely known as an early adopter of new technologies. Advancements in technologies such as machine learning, and natural language processing has developed fruitful opportunities for the development of Augmented Analytics solutions in the region.
Europe is the second highest revenue generating market for Augmented Analytics. High adoption of identity access management solutions by IT & telecommunication, and government sector, and increase spending on analytics tools by key players such as SAP SE in the region are the factors propelling the growth of European augmented analytics market.
Asia-Pacific is projected to grow with fastest growing CAGR. Increasing development in machine learning technology, among enterprises, government support for digitization, high investment in advanced analytics solution by China are some of the major driving factors for the growth of this market in the region.
MRFR has considered Salesforce, SAP SE, IBM Corporation, Microsoft Corporation, Oracle, Tableau Software, SAS, Tibco Software, Sisense, Qlik, MicroStrategy, Looker, Yellowfin, Board International, Logi Analytics, Pyramid Analytics, and Birst among some of the key players in Augmented Analytics market.
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