Augmented analytics market to surpass $50.9 billion by 2032 as demand for cloud-based solutions continues to grow

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North America is expected to lead the global augmented analytics market, followed by Europe in 2022. South Asia & Pacific has emerged as a fast growing region, with an expected growth rate between 2022 and 2032 higher than any other area during that period!

NEWARK, Del, July 4, 2022 /PRNewswire/ — The augmented analytics market is awaited reach $7.2 billion in 2022. With growing demand at a 21.6% CAGRwill reach market size $50.9 billion until 2032.

According to FMI, enterprise-wide adoption of augmented analytics solutions for automated data preparation, survey analysis, and reduction of manual processes will boost market growth. These solutions facilitate data cleansing, insight generation, and data collection with analytics powered by machine learning.

Advanced analytics is fast becoming an important tool for various industries. Businesses no longer need to hire a data scientist to interpret data with the addition of augmented analytics. The solution democratizes data and enables all companies, regardless of their size, to gain meaningful insights from their data sources.

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The augmented analytics solution finds patterns in data easily and quickly, which is a significant help in personalizing e-commerce. Customer data is collected in large amounts by e-commerce and internet advertising companies.

Increased personalization and product recommendations increase a shopper’s average number of shopping cart items, according to e-commerce company Barilliance. Retailers can use augmented analytics to track online behavior across many platforms, including web browsers, mobile devices, and apps, and then integrate, analyze, and act on that data to better serve customers and improve conversion rates. Therefore, the advanced personalization in retail/e-commerce is helping the augmented analytics market to grow in the years to come.

While there are software tools that allow organizations to visualize and share the analyzes created by data scientists with organizational decision makers, most of these tools do not analyze the data. Augmented analytics can do anything for any size business. As a result, this will drive the adoption of augmented analytics solutions over the forecast period.

“Growing needs for accelerated data collection and preparation in large enterprises and advances in natural language processing are likely to drive demand for augmented analytics solutions and services.” says an FMI analyst.

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The central theses:

  • Based on the solution, demand in the service segment is expected to grow at a CAGR of 24.6% until 2032.
  • In terms of company size, adoption of augmented analytics solutions in small and medium-sized enterprises (SMEs) is expected to grow at a CAGR of 23.8% over the forecast period.
  • By industry, revenue from augmented analytics solutions in the BFSI sector is expected to grow at a CAGR of 25.8% between 2022 and 2032.
  • North America expected to lead the market followed by Europe in 2022. South Asia & Pacific are expected to become the fastest growing markets between 2022 and 2032.

Augmented Analytics Outlook by Category

After solution:

  • Augmented Analytics Software
  • Services
    • advisory
    • Deployment and Integration
    • support and maintenance

By company size:

  • Large companies
  • Small and medium-sized enterprises (SMEs)

By industry:

  • BFSI
  • retail trade
  • IT & Telecom
  • manufacturing
  • healthcare
  • government
  • Other

By region:

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia & Pacific
  • middle East and Africa (MEA)

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More valuable insights into the Augmented Analytics market

FMI’s Augmented Analytics industry research report is segmented into five major sections – by Solution (Augmented Analytics Software (on-premises and in the cloud), Services (Consulting, Deployment & Integration, and Support & Maintenance)), Company Size (Large Enterprises ). and Small and Medium Enterprises (SMEs)), Industrial (BFSI, Retail, IT & Telecom, Manufacturing, Healthcare, Government and others) and Region (North America, Latin America, Europe, East Asia, South Asia & Pacific and middle East & Africa) to help readers understand and evaluate lucrative opportunities in the Augmented Analytics Demand Outlook.

Profile of leading companies Augmented Analytics Market are

  • Foreclosure
  • JUICE
  • IBM
  • Microsoft
  • oracle
  • softengi
  • MicroStrategy
  • SAS
  • Qlik
  • TIBCO software
  • sense
  • Pyramid Analysis
  • yellowfin
  • point of thought
  • dome

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About the Electronics, Semiconductors and ICT Division at Future Market Insights

Expert analysis, strategic recommendations and actionable insights – Future Market Insights’ electronics, semiconductors and ICT team helps clients from around the world with their unique business intelligence needs. With a repository of over 500 reports related to electronics, semiconductors and ICT, of which more than 100 reports are specific to software, the team provides comprehensive research and analysis on regional trends, market growth drivers and research development efforts in electronics, semiconductors and ICT industry.

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