Global Augmented Analytics Market Projected to Surpass $41.23 Billion by 2029 with 25.7% Annual Growth

What market dynamics are playing a key role in accelerating the growth of the augmented analytics market?
The augmented analytics market is slated for growth, driven by the expanding demand for business intelligence (BI) tools. These tools are leveraged to streamline more regular data-driven decision-making processes, from data scientists right down to frontline workers. This broad utilization helps to foster data democratization throughout an organization as departments and teams glean insights from the data. Citing a report from Techjury, a US-based software and tech review firm, in January 2024, over 33% of large organizations employed business intelligence (BI) for their decision-making in 2023. These businesses reportedly made decisions at a rate five times faster post the integration of data analytics. Meanwhile, the BI market is forecasted to hit $33.3 billion by 2025. Over 67% of organizations had already adopted BI by 2020, with 70% of professionals considering data discovery crucial. As such, the growing demand for the adoption of business intelligence (BI) tools stimulates the development of the augmented analytics market.

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How will the growth rate of the augmented analytics market shape industry trends by 2034?
The market size for augmented analytics has seen a significant expansion recently. It is projected to expand from $13.62 billion in 2024 to $16.51 billion in 2025, showing a compound annual growth rate (CAGR) of 21.2%. Factors that contributed to the growth in the historical period include emphasizing on automated insights and suggestions, user-oriented design and acceptance, cloud-based analytics platforms, a focus on explainable ai and transparency, and the requirement for real-time and contextual insights.

Expectations for the augmented analytics market size indicate substantial enhancements in the coming years, with a projected growth to $41.23 billion by 2029 with a compound annual growth rate (CAGR) of 25.7%. Several factors contributing to this growth within the forecast duration include the ongoing complications and volume of data, a burgeoning demand for simplified analytics alternatives, improvements in AI and machine learning, and the proliferation of self-service analytics. The forecast also highlights several prevailing trends like the fusion of AI and analytics, the automation of machine learning (AutoML), advancements in natural language processing (NLP), the emergence of explainable AI (XAI) and transparency, incorporation of analytics within business applications, and the adoption of predictive and prescriptive analytics.

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What trends are poised to drive the future success of the augmented analytics market?
The surge of technological development is increasingly prominent within the augmented analytics market. Established businesses in this sector are heavily investing in product innovation to gain a competitive edge over their rivals. To illustrate, Smarten Augmented Analytics, a company based in India, unveiled an updated functionality for sentiment analysis to its advanced augmented analytics solution in April 2022. This feature empowers companies with the necessary tools to comprehend the perspectives of customers, stakeholders, and other parties, thereby enabling them to refine their products and services.

Which primary segments of the augmented analytics market are driving growth and industry transformations?
The augmented analytics market covered in this report is segmented -

1) By Component: Software, Services
2) By Deployment Type: On-Premises, Cloud
3) By Services: Training And Consulting, Deployment And Integration, Support And Maintenance
4) By Organization Size: Large Enterprises, Small And Medium-Sized Enterprises (SMEs)

Subsegments:
1) By Software: Data Preparation Tools, Business Intelligence (BI) Tools, Analytics And Visualization Tools, Natural Language Processing (NLP) Tools, Machine Learning Platforms
2) By Services: Consulting Services, Implementation Services, Training And Support Services, Managed Services

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Which geographical regions are pioneering growth in the augmented analytics market?
North America was the largest region in the augmented analytics market in 2024.Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the augmented analytics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

Who are the influential players reshaping the augmented analytics market landscape?
Major companies operating in the augmented analytics market include 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

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What Is Covered In The Augmented Analytics Global Market Report?

•Market Size Forecast: Examine the augmented analytics market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the augmented analytics market for a structured understanding.
•Key Players Overview: Analyze major players in the augmented analytics market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the augmented analytics market.
•Segment Contributions: Evaluate how different segments drive overall growth in the augmented analytics market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the augmented analytics market.
•Industry Challenges: Identify potential risks and obstacles affecting the augmented analytics market.
•Competitive Landscape: Review strategic developments in the augmented analytics market, including expansions, agreements, and new product launches.

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