Augmented Analytics Market Size, Share & Trends Analysis Report By Component (Software, Services), By Enterprise Size, By Deployment Type (Cloud, On-premise) By Vertical, By Region, And Segment Forecasts, 2024 - 2030

Augmented Analytics Market Size, Share & Trends Analysis Report By Component (Software, Services), By Enterprise Size, By Deployment Type (Cloud, On-premise) By Vertical, By Region, And Segment Forecasts, 2024 - 2030

Augmented Analytics Market Growth & Trends

The global augmented analytics market size is expected to reach USD 97.87 billion by 2030, according to a new report by Grand View Research, Inc. The market is anticipated to expand at a CAGR of 28.0% from 2024 to 2030.

Data has become one of the most critical assets for any organization. Every organization’s progress depends on how correctly the data resources are being used. To ensure that data resources are appropriately used, enterprises are depending on data scientists, which are rare resources, to get actionable insights. This has driven the adoption of augmented analytics among organizations, which eliminates the dependency on data scientists. The augmented analytics technology allows enterprises to get consistent data with fewer errors in lesser time. It also accelerates data preparation and discovery with the help of advanced tools such as machine learning and artificial intelligence. In addition, it eliminates the requirement of any technical person to write algorithms for creating data analysis models that can determine insights.

The field of data analytics has evolved significantly in recent years. The increasing requirement of data scientists to analyze massive volumes of data to derive actionable insights has generated the need for augmented analytics. The technology automates the data science steps and analysis used in the process of advanced analytics, thereby providing actionable insights from data. This is done by using linguistic and statistical technologies to break down big data into small chunks that are more usable.

The augmented analytics technology has helped in delivering more detailed and relevant insights from the copious amount of data stored within an organization or generated during everyday operations and procedures. Factors such as rising demand of intelligent business tools in the field of data analytics, increasing adoption of smart discovery tools for business users, rising need for an increase in productivity, and the growing adoption of technology across diversified industry verticals are propelling the growth of the augmented analytics market.

Augmented Analytics Market Report Highlights

• Increasing adoption of predictive and prescriptive analytics to determine the information and appropriate reasoning for any analysis coupled with the growing need for data quality management to clean and prepare data and distribute it across the enterprise will spur the growth of the market
• The adoption of cloud-based analytics is expected to increase due to capabilities such as agility and quick response time along with robustness offered by the cloud
• The integration of artificial intelligence and automation into augmented analytics technology is augmenting the user experience by providing capabilities such as chatbots to enable real-time services to customers
• The North American region dominated the augmented analytics market in 2023. The Asia Pacific region is projected to register the highest CAGR from 2024 to 2030

Please note The report will be delivered in 2-3 business days upon order notification.