Augmented Analytics Market to Grow at a CAGR of over 39% till 2024
Growing demand for handling
large amount of complex data to boost the adoption of augmented analytics,
globally, through 2024
According
to TechSci Research report, “Global Augmented Analytics
Market By Deployment, By
Organization Size, By End-User, By Region, Competition, Forecast &
Opportunities, 2024”, global augmented analytics market is forecast to grow at a
CAGR of over 39% during 2019-2024, on account of increasing need for analyzing
large amount of complex data. Organizations have started implementing building
models and integrating data for automating and simplifying various tasks. Moreover,
increasing adoption of machine learning and artificial intelligence is expected
to positively impact global augmented analytics market during the forecast
period.
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Augmented Analytics Market"
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Augmented analytics market, globally, can be segmented based on deployment,
organization size, end-user and region. In terms of organization size, SME
segment is expected to account for the largest market share, as augmented
analytics help SMEs in boosting their operational productivity and maximizing profit
through appropriate assessment of data. Based on deployment, the market can be
segmented into cloud and on-premise. Cloud segment is likely to register
fastest growth rate in coming years, on account of factors such as scalability,
cost-effectiveness, and accessibility of real time information from remote
location. In terms of end user, Telecom & IT captured the largest market share
in 2018 and is expected to continue its market dominance during the forecast
period, as augmented analytics helps IT & Telcom companies to analyze
business data and it gives better insights in order to improve overall
productivity of the business.
Tableau Software, Inc., IBM Corp., Microsoft Corp., SAP SE, Salesforce.com,
Inc., Oracle Corp. and SAS Institute Inc. are some of the leading players
operating in global augmented analytics market. Companies operating in the
market are using organic strategies such as product launches, mergers and
collaborations to boost their share. In 2018, Microsoft announced integration
between Azure data lake storage Gen2 and Power BI dataflows. This integration
would allow organizations to unify data across Power BI and Azure Data
services. In October 2018, IBM partnered with Motio to accelerate the upgrades
to Cognos Analytics 11.1.
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“North
America is expected to lead global augmented analytics market through 2024 due
to the early adoption of artificial intelligence-based intelligence and surging
application of augmented analytics in business intelligence. However, Asia-Pacific
augmented analytics market is anticipated to witness the fastest growth in the coming
years, on account of burgeoning demand for cloud-based augmented analytics
solutions in growing economies such as China, India and New Zealand.” said Mr.
Karan Chechi, Research Director with TechSci Research, a research based global
management consulting firm.
“Global Augmented Analytics Market By Deployment, By
Organization Size, By End-User, By Region, Competition, Forecast &
Opportunities, 2024” has
evaluated the future growth potential of global augmented analytics market and
provides statistics & information on market size, structure and future
market growth. The report intends to provide cutting-edge market intelligence
and help decision makers take sound investment decisions. Besides, the report
also identifies and analyzes the emerging trends along with essential drivers,
challenges and opportunities in global augmented analytics market.
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