Augmented Analytics Market by Deployment and Geography - Forecast and Analysis 2020-2024
Global Augmented Analytics Market: About this market
Technavio’s augmented analytics market analysis considers sales from software license of augmented analytics solutions. Our analysis also considers the sales of augmented analytics in APAC, Europe, MEA, North America, and South America. In 2019, the on-premises segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as customization according to the needs of enterprises will play a significant role in the on-premise segment to maintain its market position. Also, our augmented analytics market report looks at factors such as rising demand for high speed data analysis, use of augmented analytics provides actionable insights to enterprises, and popularity of SOA among end-users. However, interoperability issues with other software solutions, threat to data security, and shortage of skilled professionals and high rate of attrition may hamper the growth of the augmented analytics industry over the forecast period.
Global Augmented Analytics Market: Overview
Popularity of SOA among end-users
The rising demand for innovative product and services has created a need among end-users for IT frameworks to quicken the time-to-market of products and services. The service-oriented-architecture (SOA) model reduces the IT expenditure of end-users and allows small business to grow exponentially. Thus, the rising adoption of SOA due to cost advantage will lead to the expansion of the global augmented analytics market at a CAGR of almost 30% during the forecast period.
Rising number of product launches
The augmented analytics solutions offer a simplified approach for data analysts, business users, and citizen data scientist, as it helps them to collaborate and accelerate the discovery of insights, data exploration and ML modelling. Therefore, vendors in the market are investing in R&D to develop new products for enterprises from industries. Thus, the rising number of product launches is expected to have a positive impact on the overall market growth.
For the detailed list of factors that will drive the global augmented analytics market during the forecast period 2020-2024, click here.
With the presence of several major players, the global augmented analytics market is fragmented. Technavio’s robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading augmented analytics manufacturers, that include International Business Machines Corp., Microsoft Corp., MicroStrategy Inc., Oracle Corp., Qlik Technologies Inc., Salesforce.com Inc., SAP SE, SAS Institute Inc., Sisense Inc., and TIBCO Software Inc.
Also, the augmented analytics market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.
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