The augmented analytics market is poised for remarkable growth in the coming decade, with a projected value of US$ 62,360 million by the year 2033. This promising outlook is underpinned by a robust CAGR of 21.8%. Augmented analytics, a transformative field at the intersection of data science and business intelligence, is gaining increasing prominence as organizations harness the power of artificial intelligence and machine learning to derive actionable insights from their data.
The anticipated expansion of the augmented analytics market signifies a growing recognition of its potential to revolutionize decision-making processes, streamline data analysis, and enhance overall business performance. As businesses continue to prioritize data-driven strategies, augmented analytics is poised to play a pivotal role in shaping the future of data analytics and business intelligence.
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The capacity of augmented analytics solutions to swiftly and readily uncover data trends is highly useful when it comes to e-commerce personalization. Businesses engaged in e-commerce and online advertising collect a lot of client information.
Increased personalization and product recommendations, according to e-commerce startup Brilliance, raise the typical amount of items in a customer’s shopping basket. Retailers can use augmented analytics to track online behavior across a range of platforms, such as web browsers, mobile devices, and applications, to better serve their customers and boost conversion rates. As a result, the market for augmented analytics will keep growing in the next few years.
While few of these tools actually analyze the data, there are software tools available to support organizations in visualizing and conveying the analysis done by data scientists to organizational decision-makers. With augmented analytics, every size of business can do anything. As a result, augmented analytics solutions will grow in popularity throughout the projection period.
Key Takeaways from the Augmented Analytics Market Report:
- The global market for augmented analytics market is expected to rise at a CAGR of 21.8%.
- The market for augmented analytics in Germany is expected to witness a growth rate of 7.6% CAGR during the forecast period.
- A total of US$ 160 million is expected to be generated by India between 2023 and 2033.
- The healthcare industry is expected to register at a CAGR of 20% until 2033.
- Augmented Analytics demand in the United States is expected to reach US$ 158 million from 2023 to 2033
Competitive Landscape:
A highly competitive market has developed in the augmented analytics field globally over the past decade. With a broader and more cost-effective product line, the business will be able to thrive in a highly competitive market.
Leading Key Players:
- Salesforce
- SAP
- IBM
- Microsoft
- Oracle
- Softengi
- MicroStrategy
- SAS
- Qlik
- TIBCO Software
- Sisense
- Pyramid Analytics
- Yellowfin
- ThoughtSpot
- Domo
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Augmented Analytics Market Segmentation:
By Solution:
- Augmented Analytics Software
- On-Premises
- Cloud
- Services
- Consulting
- Deployment and Integration
- Support and Maintenance
By Enterprise Size:
- Large Enterprises
- Small and Mid-Sized Enterprises (SMEs)
By Industry:
- BFSI
- Retail
- IT & Telecom
- Manufacturing
- Healthcare
- Government
- Others
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- South Asia and the Pacific
- East Asia
- Middle East and Africa
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