15-Jan-2020: The global augmented analytics
market size is expected to reach USD 22,390.1 million by
2025, according to a new report by Grand View Research, Inc. The market is
anticipated to expand at a CAGR of 25.2% from 2019 to 2025.
Data has become one
of the most critical assets for any organization. Every organization’s progress
depends on how correctly the data resources are being used. To ensure that data
resources are appropriately used, enterprises are depending on data scientists,
which are rare resources, to get actionable insights. This has driven the
adoption of augmented analytics among organizations, which eliminates the
dependency on data scientists. The augmented analytics technology allows
enterprises to get consistent data with fewer errors in lesser time. It also
accelerates data preparation and discovery with the help of advanced tools such
as machine learning and artificial intelligence. In addition, it eliminates the
requirement of any technical person to write algorithms for creating data
analysis models that can determine insights.
The field of data
analytics has evolved significantly in recent years. The increasing requirement
of data scientists to analyze massive volumes of data to derive actionable
insights has generated the need for augmented analytics. The technology
automates the data science steps and analysis used in the process of advanced
analytics, thereby providing actionable insights from data. This is done by
using linguistic and statistical technologies to break down big data into small
chunks that are more usable.
The augmented
analytics technology has helped in delivering more detailed and relevant
insights from the copious amount of data stored within an organization or
generated during everyday operations and procedures. Factors such as rising
demand of intelligent business tools in the field of data analytics, increasing
adoption of smart discovery tools for business users, rising need for an
increase in productivity, and the growing adoption of technology across
diversified industry verticals are propelling the growth of the augmented
analytics market.
In
depth research report on Augmented Analytics Market
Further key findings from the report suggest:
·
Increasing adoption of predictive and prescriptive analytics
to determine the information and appropriate reasoning for any analysis coupled
with the growing need for data quality management to clean and prepare data and
distribute it across the enterprise will spur the growth of the market
·
The adoption of cloud-based analytics is expected to increase
due to capabilities such as agility and quick response time along with
robustness offered by the cloud
·
The integration of artificial intelligence and automation
into augmented analytics technology is augmenting the user experience by
providing capabilities such as chatbots to enable real-time services to
customers
·
The North American region dominated the augmented analytics
market in 2018. The Asia Pacific region is projected to register the highest
CAGR from 2019 to 2025
·
Key competitors in the market are Microsoft Corporation, IBM
Corporation, SAP SE, Qlik Technologies Inc., Tableau Software Inc., Sisense
Inc., Salesforce.com, Inc., TIBCO Software Inc., SAS Institute Inc., and
MicroStrategy Incorporated.
Grand View Research
has segmented the global augmented analytics market on the basis of enterprise
size, component, deployment type, industry vertical, and region:
Augmented Analytics Enterprise Size Outlook (Revenue, USD
Million, 2014 - 2025)
·
SMBs
·
Large Enterprises
Augmented Analytics Component Outlook (Revenue, USD Million,
2014 - 2025)
·
Software
·
Services
·
Training Services
·
Consulting Services
·
Implementation Services
·
Support and Maintenance Services
Augmented Analytics Deployment Type Outlook (Revenue, USD
Million, 2014 - 2025)
·
Cloud
·
On-premise
Augmented Analytics Industry Vertical Outlook (Revenue, USD
Million, 2014 - 2025)
·
Retail & E-commerce
·
Healthcare
·
BFSI
·
IT and Telecommunication
·
Manufacturing
·
Government
·
Energy utilities
·
Others
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more research reports of this category:
About
Grand View Research
Grand View Research, Inc. is the
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides syndicated
research reports, customized research reports, and consulting services. To help
clients make informed business decisions, the company offers market
intelligence studies ensuring relevant and fact-based research across a range
of industries including technology, chemicals, materials, healthcare and
energy.
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