DUBLIN--(BUSINESS WIRE)--The "Augmented Analytics Market by Software, Service (Training and Consulting, Deployment and Integration, and Support and Maintenance), Organization Size (SMES and Large Enterprises), Deployment Type, Vertical, and Region - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.
The global augmented analytics market is expected to grow from USD 4.8 billion in 2018 to USD 18.4 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 30.6% during the forecast period.
It is driven by various factors, including the growing adoption of advanced Business Intelligence (BI) and analytics tools to gather business insights. However, apprehensions about technologies replacing humans can hinder the market growth.
Among components, the services segment to grow at a higher CAGR during the forecast period
With the increasing adoption of augmented analytics solutions, the demand for supporting services is also growing among end users. Augmented analytics services include training and consulting, integration and deployment, and support and maintenance.
Service providers concentrate on delivering dedicated services by understanding customers' demands and needs. Moreover, these services help implement augmented analytics solutions in a cost-efficient manner to accomplish business processes within the required time frame and budget effectively.
The Banking, Financial Services, Insurance vertical to hold the highest market share during the forecast period
Augmented analytics enables financial organizations to analyze a plethora of customer data for gaining banking insights, which can be used to improve products and services.
The analysts in financial organizations can make the use of augmented analytics solutions to monitor sales performance and determine the efficiency of the sales team. Improving marketing strategies and customer retention policies, developing new investment strategies, and reducing risks are some of the factors responsible for the adoption of augmented analytics among the BFSI vertical.
Asia Pacific (APAC) to record the highest growth rate during the forecast period
APAC is expected to hold the highest growth rate during the forecast period, due to the increasing demand for cloud-based augmented analytics solutions.
The growing economies of countries, such as China, Australia and New Zealand, and Japan, provide huge opportunities for augmented analytics solution and service vendors across industry verticals. North America is projected to hold the largest market size during the forecast period.
Competitive Landscape Overview
Major vendors have adopted several organic and inorganic growth strategies, such as new product launches, partnerships and collaborations, and mergers and acquisitions, to strengthen their presence in the augmented analytics market.
Vendors have been adopting a combination of organic and inorganic growth strategies to expand their customer base and market share. Service enhancements to meet the dynamic market needs and partnerships have been the major strategies implemented by the key vendors in recent years.
1.1 Objectives of the Study
1.2 Market Definition
1.3 Market Scope
1.4 Years Considered for the Study
1.5 Currency Considered
2 Research Methodology
2.1 Research Data
2.2 Market Breakup and Data Triangulation
2.3 Market Size Estimation
2.4 Market Forecast
2.5 Assumptions for the Study
2.6 Limitations of the Study
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities in the Augmented Analytics Market
4.2 Market in North America, By Component and Country
4.3 Market Major Countries
5 Market Overview and Industry Trends
5.2 Market Dynamics
126.96.36.199 Increasing Volume of Complex Business Data
188.8.131.52 Growing Adoption of Advanced Business Intelligence and Analytics Tools
184.108.40.206 Apprehension About Technologies Replacing Humans
220.127.116.11 Increase in Adoption of Artificial Intelligence, Machine Learning and Natural Language Processing Technologies
18.104.22.168 High Adoption of Augmented Analytics Solutions Among SMEs
22.214.171.124 Lack of Skilled Workforce
126.96.36.199 Difficulty in Managing Data Quality and Safety
5.3 Industry Trends
5.3.1 Market Evolution
5.3.2 Augmented Analytics: Use Cases
6 Augmented Analytics Market, By Component
7 Augmented Analytics Market, By Organization Size
7.2 Large Enterprises
7.3 Small and Medium-Sized Enterprises
8 Augmented Analytics Market, By Deployment Type
9 Augmented Analytics Market, By Vertical
9.2 Banking, Financial Services, and Insurance
9.3 Telecom and IT
9.4 Retail and Consumer Goods
9.5 Healthcare and Life Sciences
9.7 Government and Defense
9.8 Energy and Utilities
9.9 Transportation and Logistics
9.10 Media and Entertainment
10 Augmented Analytics Market, By Region
10.2 North America
10.4 Asia Pacific
10.5 Middle East and Africa
10.6 Latin America
11 Competitive Landscape
12 Company Profiles
12.7 Tableau Software
12.11 Tibco Software
12.13 Information Builders
For more information about this report visit https://www.researchandmarkets.com/research/j86hhh/augmented?w=4