Augmented Analytics Market Share, Growth, Analysis 2021-2023, By Size, Movements by Development Analysis, Progression Status, Revenue Expectation to 2030, Research Report

In a recent published report, Kenneth Research has updated the market report for Augmented Analytics Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.

U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4  billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Augmented Analytics Marketproducts.

Moreover, increase in ICT spending around the globe for hardware, software, services, new technologies and telecom among others is also anticipated to contribute to the growth of the market in the coming years. The spending on new technologies recorded around USD 0.6 million in 2018 and is further estimated to reach close to USD 1.3 million by 2023. The total ICT spending around the globe further recorded close to USD 5 million in 2019 and is further projected to touch USD 6 million by 2023.

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Market Synopsis

Augmented analytics tools are used to analyze automated data with the support of machine learning techniques and natural language processing technology. Augmented data streamline the processes for data profiling, and data modelling thereby supports reuse and data governance. The approach also able to combine artificial intelligence and business intelligence and has huge potential to support technical as well as non-technical users to automate their data analytics tools. Further, it also automates predictive and prescriptive tools along with providing historical reports and dashboards.

The Final Report will cover the impact analysis of COVID-19 on this industry:

Increasing volume of complex data, increasing adoption of analytical tools for business intelligence, and development in artificial intelligence technology are some crucial driving factors for the growth of this market. However, lack of skilled workforce is expected to hamper the market growth in coming years. Development in blockchain and modernization of digital technology are expected to shape a fruitful opportunity for augmented analytics market during the forecast period. Whereas, high cost of analytical tools, and analyzing the  huge generated data by maintaining quality and safety are some of the major challenges faced by the market.

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Market Developments:

In January 2019, AVORA, enterprise analytics platform providers announced its investment of USD 6.5 million in the development of machine learning algorithms and augmented intelligence. With this investment fund, the company is also looking to enhance its leadership and sales team.

In February 2019, Tableau Software releases a software named as “Ask Data” integrated with natural language processing. This software is able to provide prompt visual responses for a query asked by user in plain language.

Segmentation

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.

By region, the market is segmented into North America, Europe, Asia-Pacific, and Rest of the world.

Regional analysis

Market Research Future (MRFR) has covered following countries in regional analysis of Augmented Analytics market – U.S, Canada and Mexico in North America. Germany, U.K, France, Russia, Spain, and Italy in Europe. China, Japan, India, Singapore, Australia, and South Korea in Asia-Pacific. The Middle East & Africa and South America Market in the Rest of the world.

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North America is dominating the Augmented Analytics market, followed by Europe and Asia-Pacific. North America, especially U.S is a technically advanced region due to presence of key players such as IBM Corporation, Microsoft Corporation, Oracle, and Tableau Software among others .Further, technically advanced infrastructure, high technical expertise in technology such as natural language processing, and machine learning, widespread customer base in almost every industry verticals are some of the major factors driving the growth of augmented analytics in the region.

Europe is the second highest revenue generating market for augmented analytics. Developing digital technology and increasing demand for augmented analytics solutions for business intelligence, and high growth in retail & consumer goods industry is driving the market of augmented analytics in the region.

Asia-Pacific is projected to grow with fastest growing CAGR during the forecast period. Development in digital technology, development in artificial technology and big data analytics, and increasing expertise in the machine learning and natural language processing techniques are some of the prime factors for the growth of augmented analytics market in the region.

Key players

The market players follow several organic and inorganic growth strategies, under which they focus on partnerships, agreements, collaborations, mergers, acquisitions, business expansion, product launches, and product enhancements to strengthen their position and excel in the global augmented analytics market.

The global Augmented Analytics market is characterized by the presence of many global, regional, and local vendors. Market Research Future has identified following key players in the market – 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 others. Among these, Microsoft corporation, Tableau, and Qlik are leading the augmented analytics market in terms of their product offerings and customer reach. MicroStrategy Inc., a software provider of business intelligence, mobile software and cloud-based services, is projected to be a challenger for the leaders of the market.

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Intended Audience

Software vendors

Supply and Distribution vendors

Government

Research organizations and associations

Resellers

End-user verticals

Small & medium sized enterprises

Industry associations

About Kenneth Research

Kenneth Research is a reselling agency providing market research solutions in different verticals such as Automotive and Transportation, Chemicals and Materials, Healthcare, Food & Beverage and Consumer Packaged Goods, Semiconductors, Electronics & ICT, Packaging, and Others. Our portfolio includes set of market research insights such as market sizing and market forecasting, market share analysis and key positioning of the players (manufacturers, deals and distributors, etc), understanding the competitive landscape and their business at a ground level and many more. Our research experts deliver the offerings efficiently and effectively within a stipulated time. The market study provided by Kenneth Research helps the Industry veterans/investors to think and to act wisely in their overall strategy formulation

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Darlene Dooley is a research expert and freelance writer. She is very dedicated towards her work and writing. She enjoys to write on current news on any industry and conclude the news with highly professional report. She has almost 8 years of experience in the same field. She has strong professional skill in Market research, Business Strategies, online marketing, Industry analysis interested in innovative and trending technologies.

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