Augmented Analytics Market to Show Incredible Growth at a CAGR of 28.4%, Expected to Reach $29,856 Million by 2025

WILMINGTON, DE, UNITED STATES, April 24, 2024 / -- The global augmented analytics market was valued at $4,094 million in 2017, and is projected to reach $29,856 million by 2025, growing at a CAGR of 28.4% from 2018 to 2025.

Asia-Pacific augmented analytics market is expected to grow at a highest CAGR in the near future due to increase in technological development across different industry verticals such as BFSI, telecom & IT, retail, and others; adoption of AI-driven technologies in business intelligence; development of IT infrastructure ecosystem; and surge in adoption of cloud technology in this region.

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The global market is experiencing growth driven by several key factors. There is an increasing need to democratize analytics and boost productivity, prompting enterprises to leverage growing streams of data from various sources in innovative ways. Additionally, there is a rising awareness among organizations regarding the potential benefits of utilizing data more effectively, leading to increased demand for advanced analytics solutions.

Furthermore, there is a growing need to simplify data analysis for citizen data scientists and business users, driving the adoption of user-friendly analytics tools and platforms. However, data security concerns remain a significant challenge, potentially impeding market growth.

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Despite these challenges, the market presents promising opportunities for innovation and expansion. By addressing data security concerns and developing robust security measures, vendors can capitalize on the growing demand for advanced analytics solutions and drive market growth.

While data security concerns pose challenges, the increasing demand for democratized analytics and enhanced productivity is expected to fuel the growth of the global market in the coming years.

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Vendors operating across the augmented analytics market are concentrating on bringing interoperability and accuracy through AI driven data analytics. Furthermore, the market is witnessing the trend of building solutions designed for specific business functions such as sales & marketing, IT, finance, and others to cater the challenging requirements in the related sector. This is anticipated to boost the growth of the market during the forecast period. In addition, augmented analytics, will soon be a prevailing driver of new purchases of business intelligence tools, embedded analytics software, and data science and machine learning platforms.

Some of the key players operating in the augmented analytics market include IBM Corporation, Qlik, Tableau Software, Tibco Software, Salesforce, Sisense Inc., SAP SE, SAS Institute, Microsoft, and ThoughtSpot.

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