Augmented Analytics Market Size (2024 - 2029)

The augmented analytics market is experiencing significant growth, driven by the increasing complexity of company data and the need for efficient data analysis. This market expansion is facilitated by the integration of artificial intelligence into business intelligence tools, which automates data preparation, discovery, and insight sharing. The use of natural language processing and conversational analytics enables less technical users to interact with data, enhancing decision-making processes. The demand for rapid and effective solutions, particularly highlighted during the COVID-19 pandemic, has further accelerated the adoption of augmented analytics, contributing to the market's expansion.

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Market Size of Augmented Analytics Industry

Augmented Analytics Market Summary
Study Period 2019 - 2029
Market Size (2024) USD 23.27 Billion
Market Size (2029) USD 80.25 Billion
CAGR (2024 - 2029) 28.09 %
Fastest Growing Market North America
Largest Market North America

Major Players

Augmented Analytics Market Major Players

*Disclaimer: Major Players sorted in no particular order

Augmented Analytics Market Analysis

The Augmented Analytics Market size is estimated at USD 23.27 billion in 2024, and is expected to reach USD 80.25 billion by 2029, growing at a CAGR of 28.09% during the forecast period (2024-2029).

  • Automating data preparation, data discovery, and insight sharing using machine learning and natural language creation is called augmented analytics. It incorporates artificial intelligence into business intelligence tools to facilitate the work of citizen data scientists and other business users in analytics.
  • The adoption rates of augmented analytics have dramatically increased due to the growing complexity of company data. The process becomes time-consuming as it becomes more complicated, and artificial intelligence improves the speed and precision with which the analysis is carried out.
  • Automated insights are produced with the aid of enhanced analytics. These automated insights can then be used to evaluate a company's performance and general brand health, find growth possibilities and areas, and develop a comprehensive picture of where the brands stand regarding competing goods on the market. Each of these elements helps to form a corporate plan.
  • Moreover, enhanced analytics can identify the elements affecting your production by examining comprehensive data combinations. With augmented analytics, business users may quickly and easily find answers to their inquiries. They won't have to wait much longer for data analysts to fill in the blanks.
  • Natural Language Processing (NLP) and conversational analytics are two components of enhanced analytics that allow less technical specialists, such as citizen data scientists, to interact with the data and insights to provide recommendations for the business, which may impede market expansion.
  • The COVID-19 pandemic necessitated effective solutions instantly, which in turn necessitated innovative approaches to AI models and technology, such as augmented analytics, resulting in revenue growth in the market.

Augmented Analytics Industry Segmentation

Augmented analytics is an emerging technology that deals with data and analytics with the application of machine learning along with NLP to automate data preparation, insight discovery, and insight sharing across a broad range of business users and the operational workers in this segment. Augmented analytics is applied to enhance data analytics, data sharing, and business intelligence, which marks the next wave of disruption in the data and analytics market. Data professionals are adopting augmented analytics with platform capabilities into their existing business models.

The Augmented Analytics Market is segmented by deployment (on-premise, cloud), end-user industry (BFSI, telecom and IT, retail, healthcare, manufacturing, media and entertainment), and geography (North America, Europe, Asia Pacific, Rest of the World). The market sizes and forecasts are provided in terms of value (USD) for all of the above.

By Deployment
On-premise
Cloud
By End-user Industry
BFSI
Telecom & IT
Retail
Healthcare
Manufacturing
Media & Entertainment
Other End-user Industries
By Geography
North America
Europe
Asia Pacific
Rest of the World
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Augmented Analytics Market Size Summary

The augmented analytics market is experiencing significant growth, driven by the increasing complexity of data and the need for faster, more accurate insights. By integrating artificial intelligence into business intelligence tools, augmented analytics automates data preparation, discovery, and insight sharing, empowering business users, including citizen data scientists, to interact with data more effectively. This technology is particularly beneficial in sectors like retail, where it enhances customer engagement through personalized marketing strategies and streamlined shopping experiences. The COVID-19 pandemic further accelerated the adoption of augmented analytics as businesses sought innovative solutions to navigate rapidly changing market conditions. As a result, the market is poised for substantial expansion, with a focus on leveraging AI to improve decision-making and operational efficiency.

The market landscape is moderately competitive, with a few major players dominating but new entrants increasingly making their mark, particularly in emerging economies. Companies are focusing on product innovation to maintain a competitive edge, as evidenced by strategic acquisitions and partnerships aimed at enhancing their analytical capabilities. The availability of modern infrastructure, substantial funding, and a skilled workforce in regions like North America supports the growth of augmented analytics. This technology not only automates repetitive tasks, boosting productivity, but also provides businesses with a competitive advantage by enabling more efficient data analysis. As the market continues to evolve, the integration of augmented analytics into various industries is expected to deepen, offering new opportunities for growth and innovation.

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Augmented Analytics Market Size - Table of Contents

  1. 1. MARKET INSIGHTS

    1. 1.1 Market Overview

    2. 1.2 Industry Attractiveness - Porter's Five Forces Analysis

      1. 1.2.1 Threat of New Entrants

      2. 1.2.2 Bargaining Power of Buyers/Consumers

      3. 1.2.3 Bargaining Power of Suppliers

      4. 1.2.4 Threat of Substitute Products

      5. 1.2.5 Intensity of Competitive Rivalry

    3. 1.3 Technology Snapshot

  2. 2. MARKET SEGMENTATION

    1. 2.1 By Deployment

      1. 2.1.1 On-premise

      2. 2.1.2 Cloud

    2. 2.2 By End-user Industry

      1. 2.2.1 BFSI

      2. 2.2.2 Telecom & IT

      3. 2.2.3 Retail

      4. 2.2.4 Healthcare

      5. 2.2.5 Manufacturing

      6. 2.2.6 Media & Entertainment

      7. 2.2.7 Other End-user Industries

    3. 2.3 By Geography

      1. 2.3.1 North America

      2. 2.3.2 Europe

      3. 2.3.3 Asia Pacific

      4. 2.3.4 Rest of the World

Augmented Analytics Market Size FAQs

The Augmented Analytics Market size is expected to reach USD 23.27 billion in 2024 and grow at a CAGR of 28.09% to reach USD 80.25 billion by 2029.

In 2024, the Augmented Analytics Market size is expected to reach USD 23.27 billion.

Augmented Analytics Market Report Snapshots

Augmented Analytics Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)