Dublin, Jan. 29, 2025 (GLOBE NEWSWIRE) -- The "Augmented Analytics Market Report 2025" has been added to ResearchAndMarkets.com's offering.
This Augmented Analytics market report covers market characteristics, size & growth, segmentation, regional & country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The augmented analytics market size has grown exponentially in recent years. It will grow from $13.62 billion in 2024 to $16.51 billion in 2025 at a compound annual growth rate (CAGR) of 21.2%. The growth in the historic period can be attributed to focus on automated insights and recommendations, user-centric design and adoption, cloud-based analytics platforms, focus on explainable AI and transparency, need for real-time and contextual insights.
The augmented analytics market size is expected to see exponential growth in the next few years. It will grow to $41.23 billion in 2029 at a compound annual growth rate (CAGR) of 25.7%. The growth in the forecast period can be attributed to continued data complexity and volume, increasing demand for simplified analytics solutions, advancements in AI and machine learning, expansion of self-service analytics. Major trends in the forecast period include convergence of AI and analytics, automated machine learning (AutoML), natural language processing (NLP) advancements, explainable AI (XAI) and transparency, embedded analytics in business applications, predictive and prescriptive analytics adoption.
The growing demand for business intelligence (BI) tools is anticipated to drive the growth of the augmented analytics market. For example, in January 2024, a report published by Techjury, a US-based software and tech review company, stated that over 33% of large enterprises utilized business intelligence (BI) for decision-making in 2023. Companies that adopted data analytics made decisions five times faster, and the BI market is projected to reach $33.3 billion by 2025. Additionally, more than 67% of organizations had embraced BI by 2020, with 70% of professionals considering data discovery crucial. Therefore, the increasing demand for the adoption of business intelligence (BI) tools is driving the growth of the augmented analytics market.
Digital transformation across various industries is projected to boost the growth of the augmented analytics market. For example, in August 2024, a report from MultiQoS, an India-based software development company, projected global spending to reach 3 trillion U.S. dollars, highlighting the impact of digital transformation, with estimates indicating it will grow to 4 trillion U.S. dollars by 2026, up from just under 4 trillion U.S. dollars currently. Therefore, digital transformation across industries is a key driver of growth for the augmented analytics market.
Technological advancements are a prominent factor contributing to the growth of the augmented analytics market. Major players in this market focus on developing innovative products to gain a competitive edge. For example, in April 2022, Smarten, an India-based company specializing in augmented analytics, introduced sentiment analysis features and functionality to its advanced augmented analytics solution. This enhancement equips businesses with tools to understand stakeholders' and customers' sentiments, enabling organizations to improve their products and services based on this insightful analysis.
Major companies are strategically forming partnerships and collaborations with start-ups and mid-sized firms in the augmented analytics market to expand their product and service offerings. For example, in July 2024, HGXR Enterprise Technology, a Germany-based provider of virtual reality (VR) training and simulation solutions for businesses, announced a four-year partnership with the German Army in collaboration with Wehrtechnische Dienststelle 91 (WTD 91) through its training and simulation division, HGXR. This partnership aims to transform XR training by incorporating advanced artificial intelligence (AI) technologies, including the creation of autonomous AI modules to assist personnel in the field. The initiative focuses on improving training effectiveness and realism while optimizing human resource utilization through the integration of sophisticated AI solutions.
North America was the largest region in the augmented analytics market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the augmented analytics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the augmented analytics market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain.
Report Scope
Markets Covered:
1) By Component: Software; Services
2) By Deployment Type: On-Premises; Cloud
3) By Services: Training & Consulting; Deployment & Integration; Support & Maintenance
4) By Organization Size: Large Enterprises; Small & Medium-Sized Enterprises (SMEs)
Subsegments:
1) By Software: Data Preparation Tools; Business Intelligence (BI) Tools; Analytics & Visualization Tools; Natural Language Processing (NLP) Tools; Machine Learning Platforms
2) By Services: Consulting Services; Implementation Services; Training & Support Services; Managed Services
Key Companies Profiled: Salesforce, Inc.; SAP SE; The International Business Machines Corporation; Microsoft Corporation; Oracle Corporation
Time Series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita.
Data Segmentation: Country and regional historic and forecast data, market share of competitors, market segments.
Key Attributes
Report Attribute | Details |
No. of Pages | 200 |
Forecast Period | 2025-2029 |
Estimated Market Value (USD) in 2025 | $16.51 Billion |
Forecasted Market Value (USD) by 2029 | $41.23 Billion |
Compound Annual Growth Rate | 25.7% |
Regions Covered | Global |
The major companies featured in this Augmented Analytics market report include:
- Salesforce, Inc.
- SAP SE
- The International Business Machines Corporation
- Microsoft Corporation
- Oracle Corporation
- Tableau Software
- MicroStrategy Incorporated
- SAS Institute Inc.
- QlikTech International AB
- TIBCO Software India Pvt. Ltd
- Sisense Ltd.
- Cloud Software Group, Inc.
- Yellowfin
- ThoughtSpot Inc.
- Domo, Inc.
- Alation, Inc.
- Tamr
- Paxata
- Attivio
- Arcadia Solutions, LLC
- Squirro AG
- GoodData Corporation
- Looker Data Sciences, Inc.
- Alteryx
- Board International S. A
- Logi Analytics, Inc.
- Pyramid Analytics
- Birst, Inc.
- Datorama
- Panorama Software Ltd.
- DataRobot, Inc.
- RapidMiner, Inc.
- BIME Analytics
For more information about this report visit https://www.researchandmarkets.com/r/iv0yk4
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