The market for augmented analytics is expected to reach $7.2 billion by 2022. The market will be worth $50.9 billion by 2032, growing at a CAGR of 21.6%.

According to FMI, the adoption of augmented analytics solutions across organisations for automatic data preparation, survey analysis, and the reduction of manual processes will boost market growth. With machine learning-augmented analysis processes, these solutions facilitate data cleaning, insight generation, and data collection.

Advanced analytics is quickly becoming a valuable tool in a variety of industries. With the addition of augmented analytics, businesses no longer need to hire a data scientist to interpret data. The solution democratises data, allowing all businesses, no matter how large or small, to extract meaningful insight from their data sources.

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When it comes to e-commerce personalization, an augmented analytics solution can find patterns in data quickly and easily. E-commerce and internet advertising companies amass massive amounts of customer data.

According to e-commerce firm Barilliance, increased personalization and product recommendations increase a buyer's average number of cart items. Retailers can use augmented analytics to track online behaviour across multiple platforms, such as web browsers, mobile devices, and apps, and then integrate, analyse, and act on that information to better serve customers and increase conversion rates. Thus, advanced personalization in retail/e-commerce will aid the growth of the augmented analytics market in the coming years.

While software tools are available to assist organisations in visualising and communicating the analysis completed by data scientists to organisational decision-makers, the majority of these tools do not analyse the data. Any size organisation can benefit from augmented analytics. As a result, over the forecast period, the adoption of augmented analytics solutions will increase.

Key Takeaways:

• Based on solution, demand in the services segment is expected to grow at a CAGR of 24.6% through 2032.
• In terms of enterprise size, the adoption of augmented analytics solution in small and mid-sized enterprises (SMEs) is anticipated to increase at a CAGR of 23.8% over the forecast period.
• By industry, sales of augmented analytics solution in the BFSI sector are anticipated to grow at a CAGR of 25.8% between 2022 & 2032.
• North America is expected to lead the market followed by Europe in 2022. South Asia & Pacific is anticipated to emerge as the fastest growing markets between 2022 & 2032.

Leading Companies Profiled in Augmented Analytics Market are

• Salesforce
• SAP
• IBM
• Microsoft
• Oracle

Competitive Environment

To provide improved technology and upgraded solutions, leading vendors in the global augmented analytics market are introducing new products and services in emerging markets. As an example:

• SAS, a provider of business analytics software and services, will launch a year-long certificate programme in Applied Artificial Intelligence and Machine Learning (AI & ML) for business and decision analysis in March 2022 in collaboration with the Indian Institute of Technology Kanpur (IIT Kanpur). The applied AI & ML for business decision analysis course will provide top IIT Kanpur faculty as well as SAS with relevant information and skills.
• Pyramid Analytics and Delaware announced their partnership in February 2022, under which the two companies will jointly market, deploy, and provide consulting services for the Pyramid Platform for decision intelligence. The Pyramid Analytics decision intelligence platform will be available to over 3,000 Delaware consultants.

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Augmented Analytics Outlook by Category

By Solution:

• Augmented Analytics Software
• Services

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
• Europe
• East Asia
• South Asia & Pacific
• Middle East and Africa (MEA)