Market Size of Augmented Analytics Industry
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 23.27 Billion |
| Market Size (2029) | USD 80.25 Billion |
| CAGR (2024 - 2029) | 28.09 % |
| Fastest Growing Market | North America |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Augmented Analytics Market Analysis
The Augmented Analytics Market size is estimated at USD 23.27 billion in 2024, and is expected to reach USD 80.25 billion by 2029, growing at a CAGR of 28.09% during the forecast period (2024-2029).
- Automating data preparation, data discovery, and insight sharing using machine learning and natural language creation is called augmented analytics. It incorporates artificial intelligence into business intelligence tools to facilitate the work of citizen data scientists and other business users in analytics.
- The adoption rates of augmented analytics have dramatically increased due to the growing complexity of company data. The process becomes time-consuming as it becomes more complicated, and artificial intelligence improves the speed and precision with which the analysis is carried out.
- Automated insights are produced with the aid of enhanced analytics. These automated insights can then be used to evaluate a company's performance and general brand health, find growth possibilities and areas, and develop a comprehensive picture of where the brands stand regarding competing goods on the market. Each of these elements helps to form a corporate plan.
- Moreover, enhanced analytics can identify the elements affecting your production by examining comprehensive data combinations. With augmented analytics, business users may quickly and easily find answers to their inquiries. They won't have to wait much longer for data analysts to fill in the blanks.
- Natural Language Processing (NLP) and conversational analytics are two components of enhanced analytics that allow less technical specialists, such as citizen data scientists, to interact with the data and insights to provide recommendations for the business, which may impede market expansion.
- The COVID-19 pandemic necessitated effective solutions instantly, which in turn necessitated innovative approaches to AI models and technology, such as augmented analytics, resulting in revenue growth in the market.
