Augmented Analytics Market Size to Surpass US$ 113.98 Billion by 2033, The Brainy Insights

Global augmented analytics industry report provides various market strategies such as product innovation, product differentiation, mergers, acquisitions, partnerships, and strategic alliances to maintain their competitive edge.


Newark, Sept. 03, 2024 (GLOBE NEWSWIRE) -- The global augmented analytics market is poised for explosive growth, transforming how businesses leverage data for strategic decision-making. This report delves into the market's current state and future projections, offering invaluable insights for investors, business leaders, and technology enthusiasts alike. The global augmented analytics market was valued at USD 18.95 billion in 2023 and is expected to grow at a CAGR of 19.65% from 2024 to 2033.

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Report Scope and Segmentation –

Report CoverageDetails
Forecast Period2024-2033
Forecast CAGR19.65%
2023 Value ProjectionUSD 18.95 billion
Historical Data2020-2022
No. of Pages239
Report CoverageRevenue Forecast, Company Profiles, Competitive Landscape, Growth Factors and Latest Trends
Segments CoveredComponent, Organization Size, Deployment Mode, Industry
Regions CoveredThe regions analyzed for the market are Asia Pacific, Europe, South America, North America, and Middle East & Africa. Furthermore, the regions are further analyzed at the country level.
Augmented Analytics Market Growth DriversIntegration of Augmented Analytics with Business Processes

Market Definition and Segmentation

Augmented Analytics represents the convergence of artificial intelligence, machine learning, and data analytics, empowering users to uncover hidden patterns and derive actionable insights from complex datasets. The market is segmented as follows:

By Component:
• Software: Cutting-edge AI-driven analytics platforms
• Services: Implementation, training, and support services

By Deployment Mode:
• Cloud: Scalable, flexible solutions
• On-premises: Secure, customizable implementations

By Industry:

• BFSI: Fraud detection and risk management
• IT & Telecommunication: Network optimization and customer experience
• Healthcare: Patient outcome prediction and resource allocation
• Retail: Personalized marketing and inventory management
• Other Industry Verticals: Diverse applications across sectors

By Organization Size:
• SMEs: Democratizing advanced analytics for smaller businesses
• Large Enterprises: Enterprise-wide data-driven transformation

Market Size and Growth Projections (2024-2033)

The Augmented Analytics market is set to experience remarkable growth over the next decade. While specific figures are proprietary, industry analysts project a compound annual growth rate (CAGR) exceeding 19.65% from 2024 to 2033.

Imagine a world where every business decision is backed by AI-powered insights, driving unprecedented efficiency and innovation. That's the promise of Augmented Analytics, and it's happening now.

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Regional Analysis

North America

Leading the charge in adoption, with Silicon Valley startups and tech giants driving innovation.

Europe

Rapidly embracing Augmented Analytics, particularly in finance and manufacturing sectors.

Asia-Pacific

Emerging as a hotbed for Augmented Analytics, fueled by digital transformation initiatives in countries like China and India.

Global Overview

A truly global phenomenon, with developing markets showing immense potential for leapfrogging traditional analytics approaches.

Key Players and Competitive Landscape

The Augmented Analytics market is characterized by intense competition and rapid innovation. Key players include:
• IBM Corporation
• Microsoft Corporation
• Oracle Corporation
• QlikTech International AB
• SAP SE
• SAS, Inc.
• Sisense Inc.
• Tableau Software
• ThoughtSpot Inc.
• TIBCO Software Inc.

The race to dominate this space is heating up, with new entrants challenging incumbents through groundbreaking AI algorithms and user-friendly interfaces.

Emerging Trends and Technologies

1. Natural Language Processing (NLP): Enabling conversational analytics for non-technical users
2. Automated Machine Learning (AutoML): Democratizing predictive modeling
3. Explainable AI: Enhancing trust and transparency in AI-driven insights
4. Edge Analytics: Bringing augmented analytics capabilities closer to data sources

Industry Applications

BFSI

• Real-time fraud detection
• Personalized financial advice
• Risk assessment and compliance

Healthcare

• Predictive diagnostics
• Patient flow optimization
• Drug discovery acceleration

Retail

• Dynamic pricing strategies
• Supply chain optimization
• Customer behavior analysis

IT & Telecommunication

• Network performance optimization
• Predictive maintenance

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