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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“Global 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.

“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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