Augmented Analytics Market Size & Share

Global augmented analytics market is segmented by component, deployment type, organization size, business function, industry verticals and region. Based on component, the market is segmented into software and services. Based on deployment type, the market is segmented into on-premises and cloud. Based on organization size, the market is segmented into small & medium sized enterprises (SMEs) and large enterprises. Based on business function, the market is segmented into sales & marketing, finance, IT, operations and others. Based on industry verticals, the market is segmented into retail, healthcare & life sciences, BFSI, telecom & IT, manufacturing, government, transportation & logistics and others. Based on region, the market is segmented into North America, Europe, Asia-Pacific, Middle East and Africa, and Latin America.

Analysis by Deployment Type

Cloud segment is dominating in the market due to their scalability, cost-effectiveness, and ease of integration. Cloud platforms enable businesses of all sizes, including small and medium-sized enterprises, to access advanced analytics tools without the need for extensive infrastructure. Additionally, the growing adoption of cloud technology for various business operations, including data storage and processing, has further fuelled the demand for cloud-based augmented analytics solutions in augmented analytics market. Cloud platforms allow businesses to scale analytics resources based on demand, making it ideal for organizations dealing with fluctuating data loads. Cloud-based augmented analytics solutions enable global collaboration by allowing multiple users to access and analyze data simultaneously.

On-premises is the fastest growing segment in the market. On-premises solutions are preferred by organizations that require greater control over their data and need to comply with strict data privacy regulations. Large corporations in industries such as finance and healthcare often choose on-premises augmented analytics platforms for sensitive data handling. For example, Oracle Analytics offers on-premises solutions for large enterprises, ensuring compliance with industry-specific regulations. In Germany, government reports highlight how local data privacy laws encourage companies to adopt on-premises solutions to safeguard sensitive customer data, particularly in banking and insurance sectors. On-premises deployment reduces latency, enabling faster data processing and analysis.

Analysis by End-Use

The BFSI segment holds the major global augmented analytics market share as financial institutions are increasingly relying on data to make real-time decisions, mitigate risks, detect fraud, and ensure regulatory compliance. Augmented analytics solutions help banks and insurance companies streamline processes such as credit scoring, fraud detection, risk assessment, and market analysis, enabling them to gain actionable insights from vast amounts of data. This segment’s ongoing digital transformation and the rise of fintech companies contribute significantly to its adoption of augmented analytics. Augmented analytics solutions help BFSI institutions identify fraudulent activities in real-time using predictive analytics. AI-driven insights enable better risk assessment and compliance with regulatory requirements.

Telecom and IT companies are utilizing augmented analytics for network optimisation, predictive maintenance, and customer experience enhancement. Telecom giants like AT&T and Vodafone use AI-powered analytics to optimise network performance and deliver personalised services to customers. The U.S. Federal Communications Commission (FCC) supports AI and machine learning adoption to improve communication infrastructure. In India, the government’s push for 5G deployment is also expected to drive the demand for advanced analytics in telecom operations. Augmented analytics helps telecom providers predict network failures and optimize performance through AI-driven insights. These companies use analytics tools to understand customer behavior and improve services, such as offering personalized plans or troubleshooting solutions.

As per augmented analytics market analysis, North America held the largest share in 2024. The rise in digital adoption and growing competition in the region fuels the market growth. Moreover, the region’s capability to adopt new technologies at the earliest, the rise in the amount of digital data, and the increasing number of market players. The market is anticipated to witness a CAGR of 30.9% in the forecast period as the U.S. government is investing in AI and machine learning, creating a favourable environment for the growth of augmented analytics industry. For instance, the Biden administration has launched an AI Talent Surge, aimed at accelerating the hiring of AI professionals across federal agencies. This initiative has resulted in onboarding over 250 AI practitioners to enhance the government’s capacity to implement AI technologies effectively, including those related to augmented analytics.

As per augmented analytics market outlook, Asia Pacific to gain a rapid growth rate during the forecast period. The rapid adoption of digital technologies across the countries such as China, India, South Korea, and Japan to propel market growth. The presence of highly populated countries with different demography is driving the need for customer insights using advanced tools. This is expected to boost the Asia Pacific region in the augmented analytics market share. The rapid adoption of digital technologies in Asia-Pacific countries, such as China, India, South Korea, and Japan, is expected to propel market growth in the region.

Drivers

Digital Transformation across Industries to Drive Market Growth

Digital transformation is reshaping the business operation globally. The growing competition propels the adoption of advanced digital solutions. Moreover, analytics are reshaping the way companies approach data analysis. It has become important for organizations to use valuable insights, make informed decisions, and gain a competitive edge within their respective industries. With the help of advanced analytics tools, these companies are accelerating the global augmented analytics market growth.

Increasing Volume of Complex Business Data

In recent years, organizations have started inculcating various technological facets in their business processes. This has led to the creation of vast amounts of data. This data contains significant information, but most of the time, it is large in volume and unstructured. Storing and gaining knowledge from the data is a matter of concern for most organizations.

Restraints

Security Threats to Hamper Market Growth

Technologies dealing with data have been significantly impacted by the threats data security. In recent years, many businesses across the world have witnessed data theft owing to digital solution adoption. Technology offers an analysis of vast data sets, so it is essential to implement a solution to safeguard crucial insights. Thus, growing challenges of data security hampers market growth.

Lack of Skilled Workforce

Organizations use advanced analytics techniques, which are complex in nature and require in-depth analytical knowledge to gain business insights from data. Augmented analytics is very complex, due to the architecture that is being used for the technology. To use augmented analytics, a person requires technical skills, analysis, and critical thinking.

The global augmented analytics industry is highly competitive, driven by the rapid adoption of AI, machine learning, and natural language processing technologies to enhance data analysis and decision-making. Leading companies such as Microsoft, IBM, SAS Institute, Tableau (Salesforce) and others dominate the market, offering complex analytics systems that use advanced algorithms to automate data insights and provide business intelligence like Qlik, Sisense and ThoughtSpot.

Top Player’s Company Profiles

Tableau Software (Salesforce)MicroStrategy IncorporatedAmazon Web Services (AWS)

Recent Developments

June 2023: California-based cloud analytics company, GoodData, announced the partnership with artificial intelligence provider, Arria, to augment its customer analytics tools. It offers self-service, natural language-based insights and lowers manual work.May 2023: TrinityLife Sciences announced the collaboration with an artificial intelligence-powered analytics provider, WhizAI, to quickly integrate AI-offered insights. Through the partnership, these companies aim to offer domain knowledge and data services.March 2023: AnswerRocket, an advanced analytics provider, launched Max, an AI-assisted data analytics tool to help enterprises analyze uncovered information. Max integrates its augmented analytics platform with GPT-4 large language model of OpenAI to enhance the tool’s capabilities.

Increase in Adoption of Artificial Intelligence, Machine Learning, And Natural Language Processing Technologies: The generation of a massive amount of data and the need to analyze it in real-time have compelled organizations to adopt new technologies, such as AI, ML, and NLP. These technologies have eased the whole process of gathering insights from data. Usually, data analysis was done through graphs and charts. The strategic streamlining and harnessing of these technologies can comprehend huge datasets to generate valuable insights that eventually help develop customized and impactful solutions. Enhancing Retail Strategy with Augmented Analytics: Analysis of the data collected from all in-store security cameras, social media data collection, consumer insights, and correlations with historical data, augmented analytics gives critical insights into the retail e-commerce processes. This is made possible by integrating artificial intelligence (AI), which gives business data the power of scale, speed, and efficiency.

SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.

According to SkyQuest analysis, modern businesses need scalable solutions with ever-increasing data volumes. Growing data demands can be accommodated by enhanced analytics platforms. Modern infrastructure, large funding opportunities, a diverse customer base across many industries, a supportive environment for innovation, and the availability of a highly skilled workforce are the factors driving the emergence of augmented analytics software and services. Major growth drivers for the market include increasing volume of complex data and growing adoption of advanced business analytics tools. However, there are restraining factors that may slow down the growth of the augmented analytics market, such as apprehension about technologies replacing humans. Increasing research and development activities in the market, as well as cloud adoption, are expected to support growth in demand for augmented analytics.