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.
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.
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The segmentation of the augmented analytics market is carried out on the basis of deployment mode, vertical, component, organization size, and region. On the basis of component, the augmented analytics market is segmented into software and services. The service segment is additionally sub-segmented into managed services and professional. Based on the deployment, the augmented analytics market is segmented into on-cloud, on-premise, and hybrid. On the basis of organization size, the augmented analytics market is segmented into SMEs and large enterprises. Based on the vertical, the augmented analytics market is segmented into government & defense, media & entertainment, IT & telecommunication, BFSI, manufacturing, energy & utilities, retail, transportation, and healthcare among others. On the basis of region, the augmented analytics market is segmented into North America, Europe, APAC, and Rest of the world.
Detailed Regional Analysis
The regional assessment of the augmented analytics market shows that the North American region is controlling the augmented analytics market, followed by the European and Asia Pacific region. The North American region, especially the U.S is a technically progressive region due to presence of important players. Additionally, enhanced technical expertise in technology such as machine learning and natural language processing customer base in virtually every industry vertical are some of the main factors compelling the development of augmented analytics in the region. The European region is the next uppermost revenue producing market for augmented analytics. The developing digital technology and growing demand for augmented analytics solutions for business intelligence, and elevated growth in retail & consumer goods industry are motivating Augmented Reality Analytics Market in the region. The Asia Pacific region is anticipated to prosper with the fastest mounting CAGR during the forecast period. The progress in digital technology, expansion in artificial technology and big data analytics, and collective expertise in the machine learning and natural language processing techniques are a few of the major factors for the development of augmented analytics market in the region.
The market is well-armed to find the way throughout the unstable tides, unforeseen turmoil, and unexplored waters in the international economy. The augmentation of the resources important to endure competition has enhanced broadly directed to a top development rate of the market. The profit generation streams in the market are optimized to yield maximum benefits in the coming years. The alternatives present for growth in the market are lucrative to long term growth of the market. The opportunity costs in the market are not elevated and are beneficial to progress in the market. The benefits to the economy from the development of the market are high. The current economic climate is promoting stable development in the market by favorable availability of resources. The market has accomplished a superior stride in the past couple of years, which is underscored by the events with regards to valuation. The increase in sponsors in the market plays an essential role in the progress of the market. The reduction in the barriers to trade is anticipated to embody cutting-edge areas for expansion in the approaching years.
The eminent contenders in the augmented analytics market are SAP SE, IBM Corporation, Oracle, Tableau Software, SAS, Microsoft Corporation, Sisense, Qlik, MicroStrategy, Looker, Salesforce, Yellowfin, Board International, Logi Analytics, Tibco Software, Pyramid Analytics, and Birst among others.
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