DUBLIN--(BUSINESS WIRE)--The "Global Augmented Analytics Market - Forecasts from 2020 to 2025" report has been added to ResearchAndMarkets.com's offering.
The global augmented analytics market was valued at US$9.487 billion in 2019. Growing digitalization of processes across businesses is driving the demand for augmented analytics technology to support advanced technologies such as machine learning and natural language generation. Growing volume of complex data generated every year is also creating the demand for augmented analytics solutions for deriving valuable insights while accelerating the data analysis process. Augmented analytics helps in identifying factors that are conducive for business growth and predicting forecast trends.
- SAP Analytics Cloud
- Salesforce.com, Inc.
- Sisense Inc.
- MicroStrategy Incorporated
- TIBCO Software Inc.
- Logi Analytics
Large enterprises investing more in augmented analytics
By enterprise size, large enterprises hold the major share of the global augmented analytics market during the forecast period. This high adoption of augmented analytics solutions across large enterprises is due to the high volume of big data, both structured and unstructured, being generated by these global companies across various industry verticals. Large enterprises have more budget and so, are increasingly investing in augmented analytics solutions in order to streamline their business processes while managing the growing demand for accurate and relevant business insights. The adoption of augmented analytics across small- and medium-sized enterprises is still low owing to the lack of awareness along with a lack of budget required for the integration of advanced technologies and infrastructure.
Cloud deployment model projected to grow at a significant CAGR during the forecast period
By the deployment model, the cloud segment is projected to witness a significant CAGR during the forecast period owing to the growing adoption of cloud computing in enterprises across various industries. Cloud-based deployment eliminates the cost of initial setup and future scaling while providing a highly flexible and agile environment to deploy the technology. Moreover, the cloud deployment model offers a highly reliable environment with low-cost data backup, making it preferable to small and medium enterprises that lack a high budget. The on-premise segment will hold a substantial market share during the forecast period as large enterprises prefer this type of deployment model in order to have full control over the IT infrastructure.
Healthcare witnessing continuous market growth
By industry vertical, healthcare is projected to grow at a noteworthy CAGR during the forecast period. Increasing healthcare expenditure is driving up the need for cutting-edge technologies so as to aid the development of novel diagnostics and therapies. As such, in recent years, a rapid increase in a number of partnerships and collaborations have been witnessed among hospitals, large technology companies, healthcare start-ups, and research centers in the augmented reality. For example, recently in January 2020, Mayo Clinic has partnered with Massachusetts-based developer of augmented intelligence technology, conference, for Clinical Data Analytics Platform to speed up drug discovery and development.
North America holds the major market share throughout the forecast period
Geographically, the Global Augmented Analytics market is segmented as North America, South America, Europe, the Middle East, and Africa (MEA), and Asia Pacific (APAC). North America accounted for the major market share in 2019 and will remain at its position until the end of the forecast period. The early adoption of advanced technologies coupled with the presence of major market players in the region is the major driver of the augmented analytics market in North America. Enterprises across various industry verticals in this region are increasingly adopting augmented analytics solutions to enhance their business operations while improving the customer experience.
Key Topics Covered:
1.1. Market Definition
1.2. Market Segmentation
2. Research Methodology
2.1. Research Data
3. Executive Summary
3.1. Research Highlights
4. Market Dynamics
4.1. Market Drivers
4.2. Market Restraints
4.3. Porters Five Forces Analysis
4.4. Industry Value Chain Analysis
5. Global Augmented Analytics Market Analysis, By Component
5.2. Machine Learning
5.3. Natural Language Generation
5.4. Insight Automation
6. Global Augmented Analytics Market Analysis, By Deployment Model
7. Global Augmented Analytics Market Analysis, By Enterprise Size
8. Global Augmented Analytics Market Analysis, By Industry Vertical
8.3. IT and Telecom
9. Global Augmented Analytics Market Analysis, By Geography
9.2. North America
9.3. South America
9.5. Middle East and Africa
9.6. Asia Pacific
10. Competitive Environment and Analysis
10.1. Major Players and Strategy Analysis
10.2. Emerging Players and Market Lucrativeness
10.3. Mergers, Acquisitions, Agreements, and Collaborations
10.4. Vendor Competitiveness Matrix
11. Company Profiles
For more information about this report visit https://www.researchandmarkets.com/r/pmjy7b