Augmented Analytics: Data-Driven Decision-Making Market Trends for 2024

"The Business Research Company recently released a comprehensive report on the Global Augmented Analytics Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

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According to The Business Research Company's, The augmented analytics market size has grown exponentially in recent years. It will grow from $11.36 billion in 2023 to $13.9 billion in 2024 at a compound annual growth rate (CAGR) of 22.4%. The growth in the historic period can be attributed to focus on automated insights and recommendations, user-centric design and adoption, cloud-based analytics platforms, focus on explainable ai and transparency, need for real-time and contextual insights..

The augmented analytics market size is expected to see exponential growth in the next few years. It will grow to $32.46 billion in 2028 at a compound annual growth rate (CAGR) of 23.6%. The growth in the forecast period can be attributed to continue data complexity and volume, increasing demand for simplified analytics solutions, advancements in ai and machine learning, expansion of self-service analytics. Major trends in the forecast period include convergence of ai and analytics, automated machine learning (automl), natural language processing (nlp) advancements, explainable ai (xai) and transparency, embedded analytics in business applications, predictive and prescriptive analytics adoption..

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Market Drivers and Trends:

The increasing demand for the adoption of business intelligence (BI) tools is expected to propel the growth of the augmented analytics market. The adoption of business intelligence tools is used to simplify more frequent data-driven decision-making. It is used from the data scientists to employees on the front lines where the departments and teams will gain insights into the data, which helps to promote data democratization all over the organization. According to a survey report of over 5,000 organizations on the business intelligence market by Dresner Advisory Services, LLC, in June 2021, executive adoption of business intelligence is significantly high at 64%, followed by middle and line managers at 40%. Therefore, the increasing demand for the adoption of business intelligence (BI) tools drives the augmented analytics market growth.

Product innovations have emerged as the key trend gaining popularity in the 5G chipset market. The major players in the market are developing innovative products for market growth. For instance, in June 2021, Samsung Electronics, a South Korea-based electronics company, developed 3GPP Rel.16 compliant chipsets, a range of next-generation 5G chipsets that deliver cutting-edge 5G technologies. The new chipsets consist of a second-generation 5G modem System-on-Chip (SoC), a third-generation mmWave Radio Frequency Integrated Circuit (RFIC) chip, and a Digital Front End (DFE)-RFIC integrated chip. These are designed to increase power efficiency, boost performance, and reduce the size of 5G solutions.

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Major Key Players of the Market:

Salesforce, Inc., SAP SE, The International Business Machines Corporation, Microsoft Corporation, Oracle Corporation, Tableau Software, MicroStrategy Incorporated, SAS Institute Inc., QlikTech International AB, TIBCO Software India Pvt. Ltd, Sisense Ltd., Cloud Software Group, Inc., Yellowfin, ThoughtSpot Inc., Domo, Inc., Alation, Inc., Tamr, Paxata, Attivio, Arcadia Solutions, LLC, Squirro AG, GoodData Corporation, Looker Data Sciences, Inc., Alteryx, Board International S. A, Logi Analytics, Inc., Pyramid Analytics, Birst, Inc., Datorama, Panorama Software Ltd., DataRobot, Inc., RapidMiner, Inc., BIME Analytics

Augmented Analytics Market 2024 Key Insights:

• The augmented analytics market size is expected to see exponential growth in the next few years. It will grow to $32.46 billion in 2028 at a compound annual growth rate (CAGR) of 23.6%.
• Elevated Demand For Business Intelligence Tools Fuels Augmented Analytics Market Growth
• Technology Advancement Enhances The Market
• North America was the largest region in the augmented analytics market in 2023

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