The report of ” Augmented Analytics Market “by component (software, services (training and consulting services, deployment and integration, support and maintenance)), organization size (large enterprises, small and medium-sized enterprises), deployment type (on-premises , cloud), vertical (banking, financial services, and insurance , telecom and it , retail and consumer goods , healthcare and life sciences , manufacturing , government and defense , energy and utilities , transportation and logistics , media and entertainment , others), and region (North America, Europe, Asia Pacific, Middle East & Africa, and South America) is expected to reach US$ 20.2Bn by 2026, At a CAGR of 19.98% during a forecast period.
The major factors driving the augmented analytics market include the increasing demand for gathering crucial business insights from customer data and growing volume of business data. Increasing the need to democratize the analytics and upsurge productivity, growth in awareness of enterprises to utilize rising streams of data from several sources in innovative ways and upsurge in need to make the work easier for citizen data scientists and business users are some of the factors driving the growth of the augmented analytics market globally.
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Services segment to grow at a higher CAGR over the forecast period.
With the increasing adoption of augmented analytics solutions, the demand for supporting services is also growing among customer. Augmented analytics services contain training and consulting, integration and deployment, and support and maintenance. Service providers focus on delivering dedicated services by understanding customers’ demands and needs. Additionally, these services help implement augmented analytics solutions in a cost-efficient manner to accomplish business processes within the required time frame and budget efficiently.
Cloud deployment segment is dominating the global augmented analytics market.
Cloud deployment type provided as Software-as-a-Service (SaaS) by service providers. These solutions convert static costs of services to variable costs, as customers pay according to the services used by them. Consumers can also start or stop any service at any time. Hence, the use of cloud-based augmented analytics solutions offers flexibility to organizations for adjusting to the dynamic business environment.
North America has the largest market share for global augmented analytics market during the forecast period.
North America is projected to account for the highest market share in 2018. The region comprises developed countries, for instance the US and Canada, and is considered the most advanced region in terms of adopting new and emerging technologies. Furthermore, it houses key industry players offering augmented analytics software and services. The financial position of these industry key players enables them to invest in the leading tools and technologies for effective business operations.
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Key players operating in global augmented analytics market, Salesforce, Sap , IBM , Microsoft , Oracle, Tableau Software , Microstrategy , SAS , Qlik , Tibco Software , Sisense, Information Builders, Yellowfin, Thoughtspot, Domo.
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