Augmented Analytics Market

Augmented Analytics Market Outlook from 2023 to 2033

The Augmented Analytics Market size is expected to be worth USD 8,654.5 million in 2023. The augmented analytics market is expected to reach USD 62,360 Million by 2033. According to the forecast, augmented analytics will increase at a CAGR of 21.8%.

Augmented Analytics Market Trends and Highlights

Machine learning and artificial intelligence are often used in augmented analytics to make data more accurate, actionable, and useful. In the era of increasing data volumes generated by businesses, it is becoming increasingly difficult to analyze these data efficiently and make sense of them. Automation of data processing and actionable insights can be achieved with augmented analytics.

Key Augmented Analytics Market Trends

• Global business expansion is leading organizations to adopt advanced technologies in order to digitize their processes.
• Advertising agencies and marketing firms use analytics to uncover hidden variables in data and improve ad campaigns.
• Analytics and business intelligence tools are being adopted at an increasing rate
• Hospitality enterprises also use augmented analytics to determine the optimal upselling and cross-selling deals.
• Data scientists are becoming increasingly dependent on the ability to make their work easier in order to be successful

An integrated data discovery solution combines useful insights into business operations and stores them centrally. With Chatbots, communication devices, and varied means of voice responses, natural language is an integral part of augmented analytics that enhances conversational augmented analytics market analysis.

Attributes	Key Insights
Augmented Analytics Market Estimated Size in 2023	USD 8,654.5 million
Projected Market Value in 2033	USD 62,360 million
Value-based CAGR from 2023 to 2033	21.8%

2018 to 2022 Historical Analysis vs. 2023 to 2033 Market Forecast Projections

The augmented analytics market recorded a 19% CAGR between 2018 and 2022. The global demand for augmented analytics is expected to expand at a moderate CAGR of 21.8% over the forecast period 2023 to 2033.

With machine learning and natural language processing in combination with augmented analytics, business users and operational workers can automate data preparation. Platform capabilities are being incorporated into augmented analytics by data professionals.

A number of industries are embracing augmented analytics to address industry-specific challenges and opportunities, including finance, healthcare, retail, and manufacturing. In 2023, retailers will be able to solve customer problems, optimize their operations, and drive growth with advanced business intelligence and augmented analytics.

Historical CAGR from 2018 to 2022	19%
Forecast CAGR from 2023 to 2033	21.8%

As organizations realize the potential of augmented analytics to democratize data analysis, it is likely to become more mainstream. As companies gain insights from their data, augmented analytics tools will be adopted by more small and medium-sized enterprises.

As augmented analytics becomes more integrated with other emerging technologies such as natural language processing (NLP), artificial intelligence (AI), and the IoT (Internet of Things), it will become even more powerful. Data sources and types will be more diverse and can be analyzed more easily.

Augmented Analytics Market Drivers

• The latest trends observed in global augmented analytics market are social media, IoT, and business apps are generating a lot of digital data, putting organizations under a lot of pressure.
• By combining machine learning and natural language processing (NLP), augmented analytics can make sense of a wide range of data sets.
• Data quality maintenance poses a significant challenge. A high level of accuracy and reliability can be ensured with advanced analytics tools by analyzing, transforming, and enriching data.
• Artificial intelligence and machine learning heavily influence the algorithms behind augmented analytics. A number of augmented analytics tools are improving their capabilities as these technologies continue to advance.
• With ever-increasing data volumes, modern businesses need scalable solutions. Growing data demands can be accommodated by enhanced analytics platforms.
• IT departments are becoming less reliant on business users to do their own data analysis. A user-friendly interface makes it possible for users with no technical background to access and analyze data.
• The ability to make data-driven decisions gives organizations a competitive advantage. With augmented analytics, they are empowered to analyze their data in a way that produces valuable insights.
• Increasingly stringent data privacy regulation requires organizations to have tools for managing and protecting their data. Data governance and compliance features are often included in augmented analytics platforms.
• Automating some aspects of data analysis using augmented analytics can save enormous amounts of time and effort. As a result, organizations may be able to save money.
• Augmented analytics is attracting a lot of attention from technology vendors, resulting in constant improvements and innovations.
• Citizen data scientists are often referred to as users who have limited technical training but are capable of using augmented analytics tools to analyze data without technical expertise.
• Using enhanced analytics, organizations can gain insight and predict future trends, allowing them to take proactive steps to stay ahead of the competition.

Augmented Analytics Market Restraints

• Business strategies for augmented analytics industry involve a great deal of data analysis, concerns about data security and privacy arise as AI and machine learning become more prevalent. The protection of sensitive and personal data is of utmost importance for organizations.
• Complex and time-consuming integration of augmented analytics tools can be challenging. Compatibility issues with legacy systems may slow down implementation.
• For augmented analytics to succeed, skilled data scientists, machine learning experts, and analytics experts are needed. Due to the lack of qualified professionals, using augmented analytics to its full potential is a challenge for many organizations.
• Various regulations govern data usage and analytics, depending on the augmented analytics industry and region. Adopting augmented analytics may be constrained by regulatory requirements such as HIPAA in healthcare or GDPR in Europe.
• Infrastructure and tools for augmented analytics can be expensive to implement. A lack of understanding of the long-term benefits or return on investment (ROI) may discourage organizations from investing.
• A cultural shift and process changes are often required when introducing augmented analytics into an organization. An employee's or stakeholder's resistance to change can be a hindrance.
• Data sources are a key component of augmented analytics. A limited range of external data may be accessible to some organizations, which can limit the range of insights they can generate.
• Artificial intelligence-driven technologies can lead to biased results, as can any AI-driven technology. Assuring fairness and addressing ethical concerns are crucial restraints.
• Augmented analytics solutions' scalability becomes vital as organizations grow. With increasing data volumes and analysis requirements, ensuring the tools can handle them can be difficult.

Country-wise Insights

The below table showcases revenues in terms of the top 5 leading countries, spearheaded by Germany and India. These two countries are expected to lead the market through 2033, with sizes of USD 174 million and USD 160 billion.

Expected Market Values in 2033

Germany	USD 164 million
India	USD 160 million
United States	USD 258 million
China	USD 195 million
United Kingdom	USD 178 million

Forecast CAGRs from 2023 to 2033

Germany	7.6%
India	6.5%
United States	16.5%
China	9.6%
United Kingdom	9.9%

Growing Investments and Regulatory Compliance to Drive Demand in Germany

Among the markets for augmented analytics, Germany offers the highest returns. According to augmented analytics market reports Germany is expected to reach USD 164 million by 2033, growing at a CAGR of 7.6%. Augmented analytics will likely be most prevalent in industries like automotive and finance.

As organizations become more adept at using these tools, they are gaining more insight into their data. A growing investment in business intelligence and data analytics that include augmented analytics to grow the market.

Increasing privacy concerns and regulatory frameworks are driving companies to develop augmented analytics solutions in order to be compliant with GDPR and other privacy laws.

Several initiatives led by the German government to promote data analytics, artificial intelligence, and digital transformation contributed to the growth of augmented analytics in Germany. Funding, incentives, and resources are often provided by these initiatives with the aim of enhancing the adoption of advanced analytics. In addition to these factors, the market will continue to grow in the future.

Big Data Adoption and Digital Transformation is Expected to Drive Demand in India

The augmented analytics market in India is expected to reach USD 160 million by 2033. A CAGR of 6.5% is predicted for the market over the next ten years. Many industries in India generated significant amounts of data, including e-commerce, healthcare, finance, and telecommunications. Digital transformation initiatives are being undertaken by many businesses in order to stay competitive in the global market.

Customer behavior analysis has become crucial to businesses due to the rise of e-commerce and digital platforms. Companies are enhancing customer experiences and better understand their customers' preferences through augmented analytics. Increasing internet use and Industry 4.0 growth are expected to expand the market.

A Rapid Digitization Process and the Retail Industry to drive the Market in China

Augmented analytics is set to grow at a rapid pace in China, reaching USD 195 million by 2033. The region is expected to register a 9.6% CAGR from 2023 to 2033. China has experienced a tremendous growth in data generation.

Data analytics is one of the key features of the Chinese government's "Made in China 2025" initiative, which promotes the adoption of new technologies. Analytics solutions were made more affordable by this support.

China has one of the world's largest and most dynamic e-commerce sectors. Data-driven decisions were made and companies in this sector using augmented analytics optimized operations. Precision medicine and healthcare data analytics were important innovations in China's healthcare sector. Healthcare management, drug discovery, and patient care were improved by augmented analytics.

Fintech and data-driven approaches were being adopted in China's financial sector for fraud detection, risk assessment, and customer service. A new generation of augmented analytics offers financial institutions more insights into consumer behavior.

A growing number of companies are researching and developing artificial intelligence (AI) and machine learning in China. Data privacy and security have become increasingly important as data usage has increased. To gain a competitive edge in domestic and global markets, Chinese businesses have adopted data analytics and augmented analytics.

Increasing Adoption of Cloud-based Solutions to encourage Uptake in the United States

Increasing research and development activities in the market, as well as cloud adoption, are expected to support growth in demand for augmented analytics. As cloud adoption and solutions continue to increase, the market will thrive. A 16.5% CAGR is predicted for the region between 2023 and 2033. By the end of this forecast period, the United States augmented analytics is likely to total USD 258 million.

Software and services that offer augmented analytics are gaining popularity due to modern infrastructure, an expanding funding market, and diverse customer bases. The United States market is expected to witness rapid growth in the next few years. Business in the United States is shifting toward data-driven business, which will increase market growth.

Artificial Intelligence and Analytics are poised to Flourish in the United Kingdom

The augmented analytics market in the United Kingdom is predicted to expand at a CAGR of 9.9% from 2023 to 2033. The business is expected to be valued at USD 178 million by the end of the forecast period.

Augmented analytics research has been widely implemented in the United Kingdom, and the country has a thriving AI and analytics ecosystem as well. Both startups and established companies developed innovative solutions in response to the growing need for data-driven insights.

Because the United Kingdom is home to a variety of small and large businesses, augmented analytics is expected to grow in demand. There was also a significant role played by the broader digital transformation trend. For improved decision-making, customer engagement, and operational efficiency, organizations have turned to augmented analytics as they seek to modernize their operations.

Category-wise Insights

As depicted in the table below, augmented analytics software is projected to lead the market in terms of solutions, accumulating a 62.2% share in 2023. The large enterprise segment is likely to accumulate a revenue share of 67.4% through 2023.

Category	Market Share in 2023
Augmented Analytics Software	62.2%
Large Enterprises	67.4%

Augmented Analytics Software to Gain Traction in the Market

Based on the solution, the augmented analytics software segment is expected to continue dominating the augmented analytics industry. A market share of 62.2% is expected in 2023.

Traditional data analysis methods were becoming inadequate as organizations generated more, more varied, and faster data. Business users benefit from augmented analytics software by automating a great deal of data processing in the market.

Organizations can access and analyze data using augmented analytics, which is empowering for non-technical users. As the use of data analytics becomes more democratized, there will be a greater need for user-friendly tools.

Making better decisions is facilitated by being able to generate insights rapidly and accurately from data. A heightened understanding of analytics is enabling businesses to gain a competitive edge through augmented analytics. Data professionals and business users can save time by automating data preparation and analysis tasks. With organizations seeking to make faster decisions, this efficiency becomes more important.

Integrated analytics software with seamless integration with existing tools and systems, such as analytics systems and data warehouses, is highly sought after. Investing in technology is a key part of a business's strategy.

Big Data Demand Signals a Revolution for Large Enterprises

By enterprise size, large enterprises are expected to emerge as a prominent segment. A revenue share of 67.4% is projected in 2023. Over the past few years, the demand for the augmented analytics market has increased in popularity in large-scale industries. Market research indicates that large enterprises are highly interested in augmented analytics.

These organizations are increasingly turning to augmented analytics to analyze and make decisions, offering a revolution in decision-making. Massive volumes of data are generated by large enterprises from a variety of sources. Augmented analytics tools that automate data preparation, cleansing, and integration processes can handle this complexity.

As a result, organizations are able to gain insights more easily and efficiently. Self-service analytics capabilities are enabled by augmented analytics for business users.

Data analysis can be democratized across departments since it does not require deep technical expertise, which reduces the need for data specialists within large corporations. The ability to analyze data in real-time or near-real-time can help large enterprises react quickly to changes in the market, customer preferences, or operational challenges.

Competitive Landscape

New products and services from leading vendors in emerging markets are addressing new needs and upgrading technology in augmented analytics. As top players in the augmented analytics industry seek competitive advantage, they are forming partnerships, acquiring companies, and expanding their operations.

• In August 2023, Qlik revealed that the company was recognized on two Constellation ShortLists - Qlik AutoML for Artificial Intelligence and Machine Learning and Qlik Sense for Augmented BI and Analytics. It is designed to enable early adopters and fast-followers to access technology and services that will support their transformation initiatives.
• In September 2023, Hadean, a British scale-up, will partner with BAE Systems on the development of disruptive, cutting-edge digital technology for military training. BAE Systems has a new enterprise license which lets them integrate state-of-the-art AI and Large Language Models into Hadean Platform for Defence. This will allow military personnel across services, domains, and allies to receive immersive, scalable, and interoperable collective training solutions.

Report Scope

Attributes	Details
Estimated Market Size in 2023	USD 8,654.5 Million
Projected Market Valuation in 2033	USD 62,360 Million
Value-based CAGR 2023 to 2033	21.8%
Forecast Period	2023 to 2033
Historical Data Available for	2018 to 2022
Market Analysis	Value in USD billion
Key Regions Covered	North America; Latin America; Western Europe; Eastern Europe; South Asia and Pacific; East Asia; The Middle East & Africa
Key Market Segments Covered	Solution, Enterprise Size, Industry
Key Countries Profiled	The United States, Canada, Brazil, Mexico, The United States, Canada, Brazil, Mexico, Germany, The United Kingdom, France, Spain, Italy, Russia, Poland, Czech Republic, Romania, India, Bangladesh, Australia, New Zealand, China, Japan, South Korea, GCC countries, South Africa, Israel
Key Companies Profiled	Salesforce; SAP; IBM; Microsoft; Oracle; Softengi; MicroStrategy; SAS; Qlik; TIBCO Software; Sisense; Pyramid Analytics; Yellowfin; ThoughtSpot; Domo

Segmentation Analysis of the Augmented Analytics Market

By Solution:

• Augmented Analytics Software
• On-Premises
• Cloud
• Services
• Consulting
• Deployment and Integration
• Support and Maintenance

By Enterprise Size:

• Large Enterprises
• Small and Mid-Sized Enterprises (SMEs)

By Industry:

• BFSI
• Retail
• IT & Telecom
• Manufacturing
• Healthcare
• Government
• Others

By Region:

• North America
• Latin America
• Western Europe
• Eastern Europe
• South Asia and Pacific
• East Asia
• Middle East and Africa

Frequently Asked Questions

How big is the augmented analytics market?

The augmented analytics market is valued at USD 8,654.5 Million in 2023.

What is the projected CAGR for augmented analytics in 2033?

The market for augmented analytics is set to expand by a CAGR of 21.8% by 2033.

How much valuation is projected for the augmented analytics market in 2033?

The augmented analytics industry is forecast to reach USD 62,360 Million by 2033.

Which company uses augmented analytics?

Germany uses the most augmented analytics in the market.

Which is the leading industry in the augmented analytics market?

The hospital industry is expected to grow augmented analytics through 2033.