Market Research Future (MRFR), in its latest “Augmented Analytics Market” report, discusses different drivers and constraints of the market and the impact of key players on the market. The growing need for natural language processing and machine learning technologies to analyze automated data due to the ongoing trend of industrial automation are expected to propel the global augmented analytics market. Augmented analytics enables streamlining of procedures of data modeling and data profiling to support data governance and for its reuse. This approach encourages business intelligence to bolster both technical and non-technical users to automate their data analytics tools. Thus, improving the productivity of the market. These are expected to impel the augmented analytics market 2020. MRFR study reveals that the global augmented analytics market is expected to thrive at 24 percent CAGR through the forecast period 2018-2023. In 2017, MRFR recorded the market at USD 4.20 billion and it estimates the market to worth USD 13 billion by 2023. Surge in the generation of complex data is triggering the need for adoption of analytical tools such as augmented analytics to cater better results. It can propel the market growth.
Component, organization size, deployment mode, and vertical are parameters based on which the augmented analytics market.
The component-based segments of the market are software and services. The services segment comprises professional solutions and managed services
On-premise, hybrid, and on-cloud are deployment-based segments of the market.
SMEs and large enterprises are segments of the augmented analytics market that are based on size of an organization.
The vertical-based segments of the augmented analytics market are government and defense, BFSI, Retail, IT & Telecommunication, energy and utilities, manufacturing, media & entertainment, transportation, and healthcare.
In North America, Augmented Analytics Market Size is expected to thrive on surge in the application of augmented analytics solutions. The presence of advanced infrastructure and early adoption of modern technologies are observed as major drivers. MRFR findings state that the North America augmented analytics market is expected to stay ahead of the growth curve through the review period. The high rate of deployment of natural language processing and machine learning can generate numerous growth opportunities for the regional augmented analytics market.
In Europe, the augmented analytics market is expected to rank second in the growth line. The increased rate of adoption of identity access management solutions by the IT and telecommunication sector can impel the regional market. In addition, the EU augmented analytics market growth can be attribute to the presence of major key players and governments of the region investing hefty amount on the upgradation of analytics tools.
In Asia Pacific, the augmented analytics market is projected to expand at a high CAGR due to the high rate adoption of machine learning technology by private enterprises and government sectors, backed by digitization. The high investment made by them in advancements of analytics solutions can drive the regional augmented analytics market in the region.
The report discusses strategies that the market players follow to generate organic traction. Companies are observed to focus on agreements, partnerships, mergers, collaborations, acquisitions, product launches, and product upgradations to improve their position in the market. Some of the major companies identified by MRFR that are operating in the global augmented analytics market are SAP SE, Salesforce, Microsoft Corporation, IBM Corporation, Tableau Software, Oracle, Tibco Software, SAS, Qlik, Sisense, Looker, MicroStrategy, Board International, Yellowfin, Pyramid Analytics, Logi Analytics, Birst, and others. Tableau, Microsoft Corporation, and Qlik are identified as leaders in the augmented analytics market. They have greater range of products and firm customer loyalty.
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