GLOBAL AUGMENTED ANALYTICS MARKET FORECAST 2019-2027

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GLOBAL AUGMENTED ANALYTICS MARKET FORECAST 2019-2027

According to the estimations put forth by Inkwood Research, the global augmented analytics market is expected to project a CAGR of 24.05% during the projected period, reaching a revenue of $33.22 billion by 2027.  For the market study, 2018 is taken as the base year, and 2019-2027 is the forecast period. Business is data-driven, and there is huge complex data collected by enterprises on a daily basis. The data collected is not received only in a structured format, making it difficult to understand the data and make a decision.

GLOBAL AUGMENTED ANALYTICS MARKET FORECAST 2019-2027

Global Augmented Analytics Market by Components (Software, Service) Market by Deployment (Cloud, on-premises) Market by Organization Size (Large Organizations, Smes) Market by Business Functions (Sales & Marketing, Finance, It, Operations, Others) Market by Industrial Verticals (Retail, Healthcare and Life Science, Bfsi, Telecommunication and It, Manufacturing, Government, Transportation and Logistics, Others) & Geography

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A combination of machine learning, AI, natural language processing (NLP), visual-based data discovery, automated analytics, and augmented data preparation is augmented analytics. Augmented analytics is used to make complex data into a sophisticated format that will help to make day-to-day business decisions easier.

According to the estimations put forth by Inkwood Research, the global market for augmented analytics is expected to project a CAGR of 24.05% during the projected period, reaching a revenue of $33.22 billion by 2027.  For the market study, 2018 is taken as the base year, and 2019-2027 is the forecasted period.

The market for global augmented analytics is driven by:

  • Need to increase productivity and democratize the analytics
  • Increasing awareness of augmented analytics in enterprises
  • Rising need for ease in work
  • Increase in investments in bots
  • Increase in the adoption of natural language processing, machine learning, and artificial intelligence

Augmented Analytics Market

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Business is data-driven,  and there is huge complex data collected by enterprises on a daily basis. The data collected is not received only in a structured format, making it difficult to understand the data and make a decision. Therefore, organizations are adopting augmented analytics solutions that utilize artificial intelligence, machine learning, and natural language generation, which helps organizations to easily present the most relevant actionable insights from vast data streams, generated from multiple data sources of the company in a visualized format. Thus, rising awareness among enterprises to utilize growing streams of data from various sources in innovative ways drives the demand for augmented analytics solutions. The organizations are storing huge amounts of data, and are trying innovative ways to convert the data into informative insight, using technical steps. There are dedicated individuals called as data analysts and data scientists required for converting these raw and instructed data in a proper format. There is a scarcity of data analysts and scientists restricting organizations to get informative insight using analytics. Since technologies are developing, augmented analytics, smart data discovery, and BI, are helping to make optimum utilization of the stored data, which indirectly aids in increasing the productivity of the users. These features will help organizations in democratizing the analytics and increasing their productivity, which drives the growth of the augmented analytics market.

Banking, Financial Services & Insurance (BFSI) is the leading segment in terms of revenue in the global augmented analytics market with around 24.26% market share in 2018.  The augmented analytics market in the banking and financial institutions have increased across the globe to detect fraud, execute trades, advise clients, and perform different functions using analytics. Augmented analytics is helping banks workforces to understand their data using AI technologies while increasing their productivity. Fin-tech start-ups are collaborating with banks and developing analytics software’s that best suits them. Several banks are conducting hackathons, and rewarding the data scientists who can help them format their unstructured data. For instance, State bank of India held a 2019 hackathon in which participants had to submit a predictive analytics module that would help the bank to understand the chance of corporate customers defaulting on the loan. Moreover, the healthcare and life science segment, is anticipated to grow at the highest CAGR of around 31.88% during the projected period. Augmented analytics is applied broadly across the healthcare sector in an effort to analyze high volumes of electronic medical records, and provide better treatment to the patients. The use of business intelligence is helping hospitals to gain visibility into their financial operations, improve patient safety, monitor their cash flow, while following all the regulations. Business Intelligence helps in making evidence-based clinical decision making improving quality performance.

The global augmented analytics market growth is restricted by security and privacy-related concerns, slow adoption of advanced analytics solutions in the underdeveloped regions, and lack of skilled workforce. The major concern for organizations is data privacy and security. Due to complexities in data, several organizations have faced regulatory and legal challenges, from governments making the organizations hesitant to adopt augmented analytics solutions. Several companies see data analysts as the key to customer retention, since they help in finding more information and analyze the need of the customers. There is a rising demand for data scientists and data analysts in the market. This is due to the difficulties faced by the individuals in understanding and competence with regard to clearing the data and deploying the right analysis techniques.

The report scope of the global augmented analytics market covers segmentation analysis of component, deployment mode, organization size, business functions, and industrial vertical.

Market by Component:

  • Software
  • Services

Market by Deployment Mode:

  • Cloud
  • On-premises

Market by Organization Size:

  • Large Organizations
  • SMEs

Market by Industry Vertical:

  • Government
  • Manufacturing
  • RBFSI
  • IT and Telecom
  • Life Sciences and Healthcare
  • Retail
  • Transportation and Logistics
  • Others

Market by Business Function

  • Sales and Marketing
  • Finance
  • IT
  • Operations
  • Others

The global augmented analytics market has been segmented into four major regions on a geographical basis:

North America is the largest market, with a market share of 34.79% in terms of revenue in 2018. The North American market is dominant as there is the presence of a majority of the key players offering their software and services in the region. These include Salesforce, International Business Machines Corporation, Microsoft Corporation, and others. Since North America is the early adopter of augmented analytics, there is a growth in enterprise mobility and extensive adoption of AI and analytics for customer analysts analytics, fraud, and risk identification, and improved decision making for productivity as well as improvisation of businesses, thereby contributing towards the growth of the market. The Asia Pacific region is anticipated to be the fastest-growing region with a CAGR of XX% during the forecasted period. The attributing factors for growth are the increasing adoption of penetration of business intelligence, cloud analytics adoption & machine learning across various sectors, such as BFSI, Telecom and IT, transportation, retail, and others. Several countries within the Asia Pacific region are considered as IT hubs in terms of technological advancements, owing to which these regions have become attractive markets for the cognitive system providers. Several major players are increasing investment, which is boosting the growth of the market for augmented analysis during the forecast period.

The market has a number of players, some of the key players in the global augmented analytics market are:

  • IBM Corporation,
  • SAS Institute
  • SAP SE
  • Oracle Corporation
  • Others

In June 2017, salesforce launched Salesforce Einstein Analytics for CRM users. This will help in automatically giving CRM insights about customer service and giving accurate sales. In February 2019, Tableau Software launched AskData that enables people to ask questions in plain language and instantly receive a visual response. This is developed with the use of natural language processing. In june2019, Sisense launched Cloud-Native Sisense, a Linux based architecture for their analytics platform.

Key findings of the global market for augmented analytics are as follows:

  • North America leads the global augmented analytics market, with the largest market share of around 34.79% in 2018.
  • The Asia Pacific market for augmented analytics is anticipated to grow at the highest CAGR of XX% during the forecasted period of 2019-2027.
  • The continuous rise of cloud deployment is attributed to the growth of the augmented analytics market during the forecast period.
  • The services segment accounts for the fastest-growing segment in the augmented analytics market, is further projected to grow with a CAGR of XX% during the forecasted period.

  1. RESEARCH SCOPE
    • STUDY GOALS
    • SCOPE OF THE MARKET STUDY
    • STUDY AND FORECASTING YEARS
  2. RESEARCH METHODOLOGY
    • SOURCES OF DATA
      • SECONDARY DATA
      • PRIMARY DATA
    • TOP-DOWN APPROACH
    • BOTTOM-UP APPROACH
    • DATA TRIANGULATION
  3. EXECUTIVE SUMMARY
    • MARKET SUMMARY
    • KEY FINDINGS
      • SOFTWARE SEGMENT TO BE THE LARGEST CONTRIBUTOR IN THE AUGMENTED ANALYTICS MARKET
      • NORTH AMERICA LEADS IN THE AUGMENTED ANALYTICS MARKET
      • MARKETING & SALES SEGMENT TO BE DOMINANT IN THE BUSINESS FUNCTIONS
  1. MARKET DYNAMICS
    • MARKET SCOPE & DEFINITION
    • MARKET DRIVERS
      • NEED TO INCREASE PRODUCTIVITY AND DEMOCRATIZE THE ANALYTICS
      • INCREASING AWARENESS OF AUGMENTED ANALYTICS IN ENTERPRISES
      • GROWING NEED FOR EASE IN WORK
    • MARKET RESTRAINTS
      • SECURITY AND PRIVACY RELATED CONCERNS
      • SLOW ADOPTION OF ADVANCED ANALYTICS SOLUTIONS IN THE UNDERDEVELOPED REGIONS
    • MARKET OPPORTUNITIES
      • INCREASE IN INVESTMENTS IN BOTS
      • INCREASE IN THE ADOPTION OF NATURAL LANGUAGE PROCESSING, MACHINE LEARNING, AND ARTIFICIAL INTELLIGENCE
    • MARKET CHALLENGES
      • LACK OF SKILLED WORKFORCE
  1. MARKET BY COMPONENTS
    • SOFTWARE
    • SERVICE
  2. MARKET BY DEPLOYMENT
    • CLOUD
    • ON-PREMISES
  3. MARKET BY ORGANIZATION SIZE
    • LARGE ORGANIZATIONS
    • SMEs
  4. MARKET BY BUSINESS FUNCTIONS
    • SALES & MARKETING
    • FINANCE
    • IT
    • OPERATIONS
    • OTHERS
  5. MARKET BY INDUSTRIAL VERTICALS
    • RETAIL
    • HEALTHCARE AND LIFE SCIENCE
    • BFSI
    • TELECOMMUNICATION AND IT
    • MANUFACTURING
    • GOVERNMENT
    • TRANSPORTATION AND LOGISTICS
    • OTHERS
  6. KEY ANALYTICS
    • PORTER’S FIVE FORCE MODEL
      • THREAT OF NEW ENTRANTS
      • THREAT OF SUBSTITUTE
      • BARGAINING POWER OF SUPPLIERS
      • BARGAINING POWER OF BUYERS
      • THREAT OF COMPETITIVE RIVALRY
    • OPPORTUNITY MATRIX
    • VENDOR LANDSCAPE
  7. GEOGRAPHICAL ANALYSIS
    • NORTH AMERICA
      • UNITED STATES
      • CANADA
    • EUROPE
      • UNITED KINGDOM
      • GERMANY
      • FRANCE
      • SPAIN
      • ITALY
      • RUSSIA
      • REST OF EUROPE
    • ASIA PACIFIC
      • CHINA
      • JAPAN
      • INDIA
      • SOUTH KOREA
      • AUSTRALIA
      • REST OF ASIA PACIFIC
    • REST OF WORLD
      • LATIN AMERICA
      • MIDDLE EAST & AFRICA
  1. COMPANY PROFILES
    • SALESFORCE
    • SAP SE
    • IBM CORPORATION
    • MICROSOFT
    • ORACLE
    • TABLEAU SOFTWARE
    • MICROSTRATEGY
    • SAS INSTITUTE INC.
    • QLIK
    • TIBCO SOFTWARE
    • SISENSE
    • INFORMATION BUILDERS
    • YELLOWFIN
    • THOUGHTSPOT
    • DOMO

LIST OF TABLES

TABLE 1: GLOBAL AUGMENTED ANALYTICS MARKET, BY GEOGRAPHY, 2019-2027 (IN $ MILLION)

TABLE 2: GLOBAL AUGMENTED ANALYTICS MARKET, BY COMPONENT, 2019-2027 (IN $ MILLION)

TABLE 3: GLOBAL SOFTWARE MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 4: GLOBAL SERVICE MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 5: GLOBAL AUGMENTED ANALYTICS MARKET, BY DEPLOYMENT, 2019-2027 (IN $ MILLION)

TABLE 6: GLOBAL CLOUD MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 7: GLOBAL ON PREMISES MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 8: GLOBAL AUGMENTED ANALYTICS MARKET, BY ORGANIZATION SIZE, 2019-2027 (IN $ MILLION)

TABLE 9: GLOBAL LARGE ORGANIZATION MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 10: GLOBAL SME’S MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 11: GLOBAL AUGMENTED ANALYTICS MARKET, BY BUSINESS FUNCTIONS, 2019-2027 (IN $ MILLION)

TABLE 12: GLOBAL SALES & MARKETING MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 13: GLOBAL FINANCE MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 14: GLOBAL IT MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 15: GLOBAL OPERATIONS MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 16: GLOBAL OTHERS MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 17: GLOBAL AUGMENTED ANALYTICS MARKET, BY INDUSTRIAL VERTICALS, 2019-2027 (IN $ MILLION)

TABLE 18: GLOBAL RETAIL MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 19: GLOBAL HEALTHCARE AND LIFESCIENCE MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 20: GLOBAL BFSI, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 21: GLOBAL IT AND TELECOMMUNICATION, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 22: GLOBAL MANUFACTURING MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 23: GLOBAL GOVERNMENT MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 24: GLOBAL TRANSPORTATION AND LOGISTICS, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 25: GLOBAL OTHER MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 26: OPPORTUNITY MATRIX

TABLE 27: VENDOR LANDSCAPE

TABLE 28: GLOBAL AUGMENTED ANALYTICS MARKET, BY GEOGRAPHY, 2019-2027 (IN $ MILLION)

TABLE 29: NORTH AMERICA AUGMENTED ANALYTICS MARKET, BY COUNTRY, 2019-2027 (IN $ MILLION)

TABLE 30: EUROPE AUGMENTED ANALYTICS MARKET, BY COUNTRY, 2019-2027 (IN $ MILLION)

TABLE 31: ASIA PACIFIC AUGMENTED ANALYTICS MARKET, BY COUNTRY, 2019-2027 (IN $ MILLION)

TABLE 32: REST OF WORLD AUGMENTED ANALYTICS MARKET, BY REGION, 2019-2027 (IN $ MILLION)

LIST OF FIGURES

FIGURE 1: GLOBAL AUGMENTED ANALYTICS MARKET, BY INDUSTRIAL VERTICAL, 2018 & 2027 (IN %)

FIGURE 2: GLOBAL AUGMENTED ANALYTICS MARKET, BY SOFTWARE, 2019-2027 (IN $ MILLION)

FIGURE 3: NORTH AMERICA AUGMENTED ANALYTICS MARKET, 2019-2027 (IN $ MILLION)

FIGURE 4: GLOBAL AUGMENTED ANALYTICS MARKET, BY MARKETING AND SALES, 2019-2027 (IN $ MILLION)

FIGURE 5: GLOBAL AUGMENTED ANALYTICS MARKET, BY SOFTWARE, 2019-2027 (IN $ MILLION)

FIGURE 6: GLOBAL AUGMENTED ANALYTICS MARKET, BY SERVICE, 2019-2027 (IN $ MILLION)

FIGURE 7: GLOBAL AUGMENTED ANALYTICS MARKET, BY CLOUD, 2019-2027 (IN $ MILLION)

FIGURE 8: GLOBAL AUGMENTED ANALYTICS MARKET, BY ON PREMISES, 2019-2027 (IN $ MILLION)

FIGURE 9: GLOBAL AUGMENTED ANALYTICS MARKET, BY LARGE ORGANIZATION, 2019-2027 (IN $ MILLION)

FIGURE 10: GLOBAL AUGMENTED ANALYTICS MARKET, BY SMEs, 2019-2027 (IN $ MILLION)

FIGURE 11: GLOBAL AUGMENTED ANALYTICS MARKET, BY SALES & MARKETING, 2019-2027 (IN $ MILLION)

FIGURE 12: GLOBAL AUGMENTED ANALYTICS MARKET, BY FINANCE, 2019-2027 (IN $ MILLION)

FIGURE 13: GLOBAL AUGMENTED ANALYTICS MARKET, BY IT, 2019-2027 (IN $ MILLION)

FIGURE 14: GLOBAL AUGMENTED ANALYTICS MARKET, BY OPERATIONS, 2019-2027 (IN $ MILLION)

FIGURE 15: GLOBAL AUGMENTED ANALYTICS MARKET, BY OTHER, 2019-2027 (IN $ MILLION)

FIGURE 16: GLOBAL AUGMENTED ANALYTICS MARKET, BY RETAIL, 2019-2027 (IN $ MILLION)

FIGURE 17: GLOBAL AUGMENTED ANALYTICS MARKET, BY HEALTHCARE AND LIFE SCIENCE, 2019-2027 (IN $ MILLION)

FIGURE 18: GLOBAL AUGMENTED ANALYTICS MARKET, BY BFSI, 2019-2027 (IN $ MILLION)

FIGURE 19: GLOBAL AUGMENTED ANALYTICS MARKET, BY IT AND TELECOMMUNICATION, 2019-2027 (IN $ MILLION)

FIGURE 20: GLOBAL AUGMENTED ANALYTICS MARKET, BY MANUFACTURING, 2019-2027 (IN $ MILLION)

FIGURE 21: GLOBAL AUGMENTED ANALYTICS MARKET, BY GOVERNMENT, 2019-2027 (IN $ MILLION)

FIGURE 22: GLOBAL AUGMENTED ANALYTICS MARKET, BY TRANSPORTATION AND LOGISTICS, 2019-2027 (IN $ MILLION)

FIGURE 23: GLOBAL AUGMENTED ANALYTICS MARKET, BY OTHERS, 2019-2027 (IN $ MILLION)

FIGURE 24: PORTER’S FIVE FORCE ANALYSIS

FIGURE 25: GLOBAL AUGMENTED ANALYTICS MARKET, REGIONAL OUTLOOK, 2018 & 2027 (IN %)

FIGURE 26: UNITED STATES AUGMENTED ANALYTICS MARKET, 2019-2027 (IN $ MILLION)

FIGURE 27: CANADA AUGMENTED ANALYTICS MARKET, 2019-2027 (IN $ MILLION)

FIGURE 28: UNITED KINGDOM AUGMENTED ANALYTICS MARKET, 2019-2027 (IN $ MILLION)

FIGURE 29: GERMANY AUGMENTED ANALYTICS MARKET, 2019-2027 (IN $ MILLION)

FIGURE 30: FRANCE AUGMENTED ANALYTICS MARKET, 2019-2027 (IN $ MILLION)

FIGURE 31: SPAIN AUGMENTED ANALYTICS MARKET, 2019-2027 (IN $ MILLION)

FIGURE 32: ITALY AUGMENTED ANALYTICS MARKET, 2019-2027 (IN $ MILLION)

FIGURE 33: RUSSIA AUGMENTED ANALYTICS MARKET, 2019-2027 (IN $ MILLION)

FIGURE 34: REST OF EUROPE AUGMENTED ANALYTICS MARKET, 2019-2027 (IN $ MILLION)

FIGURE 35: CHINA AUGMENTED ANALYTICS MARKET, 2019-2027 (IN $ MILLION)

FIGURE 36: JAPAN AUGMENTED ANALYTICS MARKET, 2019-2027 (IN $ MILLION)

FIGURE 37: INDIA AUGMENTED ANALYTICS MARKET, 2019-2027 (IN $ MILLION)

FIGURE 38: SOUTH KOREA AUGMENTED ANALYTICS MARKET, 2019-2027 (IN $ MILLION)

FIGURE 39: AUSTRALIA AUGMENTED ANALYTICS MARKET, 2019-2027 (IN $ MILLION)

FIGURE 40: REST OF ASIA PACIFIC AUGMENTED ANALYTICS MARKET, 2019-2027 (IN $ MILLION)

FIGURE 41: LATIN AMERICA AUGMENTED ANALYTICS MARKET, 2019-2027 (IN $ MILLION)

FIGURE 42: MIDDLE EAST & AFRICA AUGMENTED ANALYTICS MARKET, 2019-2027 (IN $ MILLION)

  1. MARKET BY COMPONENTS
    • SOFTWARE
    • SERVICE
  2. MARKET BY DEPLOYMENT
    • CLOUD
    • ON-PREMISES
  3. MARKET BY ORGANIZATION SIZE
    • LARGE ORGANIZATIONS
    • SMES
  4. MARKET BY BUSINESS FUNCTIONS
    • SALES & MARKETING
    • FINANCE
    • IT
    • OPERATIONS
    • OTHERS
  5. MARKET BY INDUSTRIAL VERTICALS
    • RETAIL
    • HEALTHCARE AND LIFE SCIENCE
    • BFSI
    • TELECOMMUNICATION AND IT
    • MANUFACTURING
    • GOVERNMENT
    • TRANSPORTATION AND LOGISTICS
    • OTHERS
  6. GEOGRAPHICAL ANALYSIS
    • NORTH AMERICA
      • UNITED STATES
      • CANADA
    • EUROPE
      • UNITED KINGDOM
      • GERMANY
      • FRANCE
      • SPAIN
      • ITALY
      • RUSSIA
      • REST OF EUROPE
    • ASIA PACIFIC
      • CHINA
      • JAPAN
      • INDIA
      • SOUTH KOREA
      • AUSTRALIA
      • REST OF ASIA PACIFIC
    • REST OF WORLD
      • LATIN AMERICA
      • MIDDLE EAST & AFRICA

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