Meticulous Research®, a leading global market research firm, has published a detailed report titled ‘Augmented Analytics Market by Offering (Software, Services), Deployment Mode, Organization Size, Application (Marketing & Sales, Financial Planning & Analysis), End-use Industry (Retail & E-commerce, BFSI), and Geography - Global Forecast to 2031.

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The report indicates that the global augmented analytics market is projected to reach $104.4 billion by 2031, with an expected CAGR of 27.4% from 2024 to 2031. This growth is driven by the increasing demand for data-driven decision-making and the rapid adoption of cloud computing technologies that enhance deployment scalability. However, challenges concerning data privacy and security may hinder market growth.

The report highlights the rising application of augmented analytics in sales and marketing as a key driver for new growth opportunities. However, the integration of these analytics tools into existing business processes presents significant challenges. Additionally, the integration of machine learning and natural language processing technologies within augmented analytics frameworks is becoming increasingly prevalent.

The augmented analytics market can be segmented into several categories: offerings (software and services, including training, consulting, deployment, integration, and maintenance), deployment modes (cloud-based and on-premise), organization sizes (large enterprises and small & medium-sized enterprises), applications (including marketing and sales analytics, financial planning and analysis, supply chain management, human resource management, business intelligence and reporting, predictive analytics, customer analytics, and others), end-use industries (retail and e-commerce, healthcare, BFSI, manufacturing, government, automotive, transportation, media and entertainment, energy and utilities, IT and telecommunications, military and defense, and others), and geography. The report also evaluates competitors and analyzes market dynamics at both national and regional levels.

Offering Insights

In terms of offerings, the market is segmented into software and services. The software segment is expected to dominate in 2024, accounting for over 64.0% of the augmented analytics market share. This significant share is attributed to the increasing adoption of augmented analytics solutions that enhance operational efficiency and minimize human errors. Additionally, advancements in cloud computing technologies contribute to the scalability of these analytics solutions.

Conversely, the services segment is anticipated to register a higher CAGR throughout the forecast period. The growing demand for support and maintenance services, which ensure regular updates to algorithms and data processing pipelines, is driving this segment's growth.

Deployment Mode Analysis

When analyzing deployment modes, the market is classified into cloud-based and on-premise solutions. In 2024, cloud-based deployment is projected to capture over 66.0% of the market share, with a higher expected CAGR during the forecast period. This growth is largely due to the increasing need for cloud-based solutions that alleviate employee workloads related to infrastructure and software management.

Organization Size Perspective

Regarding organization size, the market can be divided into large enterprises and small & medium-sized enterprises (SMEs). Large enterprises are anticipated to account for over 71.0% of the market share in 2024, driven by the increasing adoption of augmented analytics to streamline global strategies and automate data analysis processes.

Conversely, the SMEs segment is expected to achieve a higher CAGR during the forecast period, bolstered by the development of on-premise infrastructure tailored for subscription-based augmented analytics solutions.

Application Insights

The market can be analyzed based on various applications, including marketing and sales analytics, financial planning and analysis, supply chain management, human resource management, business intelligence and reporting, predictive analytics, customer analytics, and others. In 2024, marketing and sales analytics is projected to hold the largest share, exceeding 24.0% due to the growing demand for comprehensive data analysis to understand customer behavior and refine marketing strategies.

In contrast, the financial planning and analysis segment is anticipated to experience the highest CAGR during the forecast period, driven by the increasing demand for minimizing manual errors in financial reporting.

Industry Segmentation

Examining end-use industries, the market can be segmented into retail and e-commerce, healthcare, BFSI, manufacturing, government, automotive, transportation, media and entertainment, energy and utilities, IT and telecommunications, military and defense, and others. In 2024, the retail and e-commerce sector is expected to account for over 22.0% of the market share, driven by the demand for automating routine operational tasks.

Conversely, the BFSI sector is projected to experience the highest CAGR during the forecast period, attributed to the growing need for automation in regulatory compliance tracking.

Regional Insights

From a geographical perspective, the market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2024, North America is expected to dominate the market, accounting for over 33.0% of the augmented analytics market share.

In contrast, the Asia-Pacific region is anticipated to experience the highest CAGR of over 29.0% during the forecast period, supported by advancements in technology enhancing the deployment of augmented analytics solutions.

Key Players

The key players operating in the augmented analytics market are Salesforce, Inc. (U.S.), SAP SE (Germany), International Business Machines Corporation (U.S.), Microsoft Corporation (U.S.), Oracle Corporation (U.S.), MicroStrategy Incorporated (U.S.), Domo, Inc. (U.S.), SAS Institute Inc. (U.S.), QlikTech International A.B. (U.S.), Cloud Software Group, Inc. (U.S.), Sisense Ltd. (U.S.), ThoughtSpot, Inc. (U.S.), Yellowfin International Pty Ltd ( A Subsidiary of Idera, Inc.) (U.S.), Pyramid Analytics B.V. (Netherlands), and Alteryx, Inc. (U.S.).

To gain more insights into the market with a detailed table of content and figures, click here: https://www.meticulousresearch.com/product/augmented-analytics-market-5991

Key Questions Answered in the Report:

  • Which are the high-growth market categories in terms of offering, deployment mode, organization size, application, and end-use industry?
  • What is the historical market size for global augmented analytics?
  • What are the market forecasts and estimates for 2024–2031?
  • What are the major drivers, restraints, opportunities, challenges, and trends in the global augmented analytics market?
  • Who are the major players in the global augmented analytics market, and what are their market shares?
  • What is the competitive landscape like?
  • What are the recent developments in the global augmented analytics market?
  • What do major market players adopt the different strategies?
  • What are the trends and high-growth countries?
  • Who are the local emerging players in the global augmented analytics market, and how do they compete with other players?

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