$18.4 Bn Augmented Analytics Market - Global Forecast to 2023: Increase in Adoption of Artificial Intelligence, Machine Learning, and Natural Language Processing Technologies

DUBLIN, Feb. 26, 2019 /PRNewswire/ -- 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 increasing demand for gathering insights from business data is expected to drive the overall growth of the augmented analytics market

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.

Key Topics Covered:

1 Introduction

2 Research Methodology

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
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Increasing Volume of Complex Business Data
5.2.1.2 Growing Adoption of Advanced Business Intelligence and Analytics Tools
5.2.2 Restraints
5.2.2.1 Apprehension About Technologies Replacing Humans
5.2.3 Opportunities
5.2.3.1 Increase in Adoption of Artificial Intelligence, Machine Learning, and Natural Language Processing Technologies
5.2.3.2 High Adoption of Augmented Analytics Solutions Among SMEs
5.2.4 Challenges
5.2.4.1 Lack of Skilled Workforce
5.2.4.2 Difficulty in Managing Data Quality and Safety
5.3 Industry Trends
5.3.1 Market Evolution
5.3.2 Augmented Analytics: Use Cases
5.3.2.1 Use Case #1: to Identify Marketing Efforts for Measuring Business Growth
5.3.2.2 Use Case #2: to Improve Decision Process for Increasing Return on Investment

6 Augmented Analytics Market, By Component
6.1 Introduction
6.2 Software
6.2.1 Innovations in Machine Learning and Artificial Intelligence to Drive the Adoption of Augmented Analytics Software for Forecasting the Business Growth
6.3 Services
6.3.1 Training and Consulting Services
6.3.1.1 Focus on Improving Technical Capabilities and Increasing the Demand for Better Strategic Outlook of Business to Drive the Growth of Training and Consulting Services
6.3.2 Deployment and Integration
6.3.2.1 Rise in Demand for Integrating Augmented Analytics Solutions With Existing Software to Drive the Growth of Deployment and Integration Services
6.3.3 Support and Maintenance
6.3.3.1 Growing Need for Seamless Performance of Software to Increase the Demand for Support and Maintenance Services

7 Augmented Analytics Market, By Organization Size
7.1 Introduction
7.2 Large Enterprises
7.2.1 Need for Enhancing Business Functions and Maintaining ITs Position in the Competitive World to Drive the Adoption of Augmented Analytics in Large Enterprises
7.3 Small and Medium-Sized Enterprises
7.3.1 Need for Cost-Effective Analytical Solution to Drive the Demand for Augmented Analytics Solutions in Small and Medium-Sized Enterprises

8 Augmented Analytics Market, By Deployment Type
8.1 Introduction
8.2 On-Premises
8.2.1 Need for Data Security Among Enterprises to Drive the Adoption of On-Premises Augmented Analytics Solutions
8.3 Cloud
8.3.1 Factors, Such as Cost-Effectiveness, Scalability, Accessibility of Real Time Information From Remote Location to Boost the Adoption Rate of Cloud-Based Augmented Analytics Solution

9 Augmented Analytics Market, By Vertical
9.1 Introduction
9.2 Banking, Financial Services, and Insurance
9.2.1 Increasing Need for Generating Actionable Insights for Sensitive Data to Positively Impact the Demands for Augmented Analytics in the BFSI Vertical
9.3 Telecom and IT
9.3.1 Rapid Technological Advancement to Drive the Demand for Augmented Analytics in the Telecom and IT Vertical
9.4 Retail and Consumer Goods
9.4.1 Increasing Need for Enhanced User Experience and Better Understanding of Consumer Purchasing Power to Drive the Growth of Augmented Analytics in the Retail and Consumer Goods Vertical
9.5 Healthcare and Life Sciences
9.5.1 Need for Enhancing the Operational Efficiency to Boost Augmented Analytics in the Healthcare and Life Sciences Vertical
9.6 Manufacturing
9.6.1 Need for Resource Optimization and Achieving Maximum Productivity With Minimum Investment to Drive the Growth of Augmented Analytics in the Manufacturing Vertical
9.7 Government and Defense
9.7.1 Adoption of Digitalization to Boost the Growth Opportunities of Augmented Analytics in the Government and Defense Vertical
9.8 Energy and Utilities
9.8.1 Demand for Minimizing the Operational Cost to Drive the Adoption of Augmented Analytics in the Energy and Utilities Vertical
9.9 Transportation and Logistics
9.9.1 Need for Effectively Analyzing Data Related to Goods and Raw Materials to Boost the Adoption of Augmented Analytics in the Transportation and Logistics Vertical
9.10 Media and Entertainment
9.10.1 Increasing Need for Analyzing Customers' Media Consumption Preferences to Drive the Growth of Augmented Analytics in the Media and Entertainment Vertical
9.11 Others

10 Augmented Analytics Market, By Region

11 Competitive Landscape
11.1 Overview
11.1.1 Product/Solution Launches and Enhancements
11.1.2 Business Expansions
11.1.3 Partnerships, Agreements, and Collaborations

12 Company Profiles
12.1 Introduction
12.2 Salesforce
12.3 Sap
12.4 IBM
12.5 Microsoft
12.6 Oracle
12.7 Tableau Software
12.8 Microstrategy
12.9 SAS
12.10 Qlik
12.11 Tibco Software
12.12 Sisense
12.13 Information Builders
12.14 Yellowfin
12.15 Thoughtspot
12.16 Domo

For more information about this report visit https://www.researchandmarkets.com/research/lsrh95/18_4_bn?w=5

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