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Trends and Insights in the Augmented Analytics Market: Size and Share Analysis
Meticulous Research®, a prominent global market research firm, has published a report titled ‘Augmented Analytics Market by Offering (Software, Services), Deployment Mode, Organization Size, Application (Marketing & Sales, Financial Planning & Analysis), End-use Industry (Retail & E-commerce, BFSI), and Geography - Global Forecast to 2031.Download Sample Report Here @ https://www.meticulousresearch.com/download-sample-report/cp_id=5991
The analysis predicts that the global augmented analytics market will reach $104.4 billion by 2031, with an anticipated CAGR of 27.4% from 2024 to 2031. This growth is driven by the rising demand for data-driven decision-making and the increased adoption of cloud computing technologies that facilitate scalable deployment. However, issues surrounding data privacy and security could pose challenges to market expansion.
The report also highlights the growing application of augmented analytics in sales and marketing as a catalyst for new growth opportunities. Nevertheless, integrating these analytics tools into existing business processes remains a significant challenge. The incorporation of machine learning and natural language processing technologies within augmented analytics systems is increasingly significant.
The augmented analytics market can be categorized into offerings (software and services, including training, consulting, deployment, integration, and maintenance), deployment modes (cloud-based and on-premise), organization sizes (large enterprises and small & medium-sized enterprises), applications (including marketing and sales analytics, financial planning and analysis, supply chain management, human resource management, business intelligence and reporting, predictive analytics, customer analytics, and others), end-use industries (retail and e-commerce, healthcare, BFSI, manufacturing, government, automotive, transportation, media and entertainment, energy and utilities, IT and telecommunications, military and defense, and others), and geography. The report provides a comprehensive evaluation of competitors and analyzes market dynamics at national and regional levels.
Offering Insights
In terms of offerings, the market is segmented into software and services. The software segment is projected to dominate in 2024, with an anticipated share of over 64.0% of the augmented analytics market. This dominance is driven by the rising adoption of augmented analytics solutions that improve operational efficiency and reduce human error. Additionally, advancements in cloud computing technologies enhance the scalability of these analytics solutions.
In contrast, the services segment is expected to exhibit a higher CAGR during the forecast period. The growing demand for support and maintenance services, which ensure regular updates to algorithms and data processing pipelines, will drive this segment's growth.
Deployment Mode Analysis
In analyzing deployment modes, the market is classified into cloud-based and on-premise solutions. By 2024, cloud-based deployment is projected to dominate, capturing over 66.0% of the market share, with a higher expected CAGR throughout the forecast period. This growth is fueled by the increasing demand for cloud-based solutions that alleviate employee workloads associated with infrastructure and software management.
Organization Size Perspective
Regarding organization size, the market can be divided into large enterprises and small & medium-sized enterprises (SMEs). Large enterprises are expected to account for over 71.0% of the market share in 2024, driven by the increasing adoption of augmented analytics to streamline global strategies and automate data analysis processes.
Conversely, the SMEs segment is anticipated to experience a higher CAGR during the forecast period, supported by the development of on-premise infrastructure tailored for subscription-based augmented analytics solutions.
Application Insights
The market can be analyzed based on various applications, including marketing and sales analytics, financial planning and analysis, supply chain management, human resource management, business intelligence and reporting, predictive analytics, customer analytics, and others. In 2024, marketing and sales analytics is projected to hold the largest share, exceeding 24.0% due to the growing demand for comprehensive data analysis to understand customer behavior and refine marketing strategies.
In contrast, the financial planning and analysis segment is anticipated to exhibit the highest CAGR during the forecast period, fueled by the increasing demand for minimizing manual errors in financial reporting.
Industry Segmentation
The market can be segmented by end-use industries, including retail and e-commerce, healthcare, BFSI, manufacturing, government, automotive, transportation, media and entertainment, energy and utilities, IT and telecommunications, military and defense, and others. In 2024, the retail and e-commerce sector is expected to account for over 22.0% of the market share, driven by the demand for automating routine operational tasks.
In contrast, the BFSI sector is projected to witness the highest CAGR during the forecast period, attributed to the increasing necessity for automation in regulatory compliance tracking.
Regional Insights
From a geographical standpoint, the market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2024, North America is anticipated to dominate the market, accounting for over 33.0% of the augmented analytics market share.
In contrast, the Asia-Pacific region is expected to experience the highest CAGR of over 29.0% during the forecast period, supported by technological advancements enhancing the deployment of augmented analytics solutions.
Key Players
The key players operating in the augmented analytics market are Salesforce, Inc. (U.S.), SAP SE (Germany), International Business Machines Corporation (U.S.), Microsoft Corporation (U.S.), Oracle Corporation (U.S.), MicroStrategy Incorporated (U.S.), Domo, Inc. (U.S.), SAS Institute Inc. (U.S.), QlikTech International A.B. (U.S.), Cloud Software Group, Inc. (U.S.), Sisense Ltd. (U.S.), ThoughtSpot, Inc. (U.S.), Yellowfin International Pty Ltd ( A Subsidiary of Idera, Inc.) (U.S.), Pyramid Analytics B.V. (Netherlands), and Alteryx, Inc. (U.S.).
To gain more insights into the market with a detailed table of content and figures, click here: https://www.meticulousresearch.com/product/augmented-analytics-market-5991
Key Questions Answered in the Report:
- Which are the high-growth market categories in terms of offering, deployment mode, organization size, application, and end-use industry?
- What is the historical market size for global augmented analytics?
- What are the market forecasts and estimates for 2024–2031?
- What are the major drivers, restraints, opportunities, challenges, and trends in the global augmented analytics market?
- Who are the major players in the global augmented analytics market, and what are their market shares?
- What is the competitive landscape like?
- What are the recent developments in the global augmented analytics market?
- What do major market players adopt the different strategies?
- What are the trends and high-growth countries?
- Who are the local emerging players in the global augmented analytics market, and how do they compete with other players?
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