>
  info@marketresearchfuture.com   📞  +1 (855) 661-4441(US)   📞  +44 1720 412 167(UK)
Certified Global Research Member
Isomar fd.webp Wcrc 57.webp
Key Questions Answered
  • Global Market Outlook
  • In-depth analysis of global and regional trends
  • Analyze and identify the major players in the market, their market share, key developments, etc.
  • To understand the capability of the major players based on products offered, financials, and strategies.
  • Identify disrupting products, companies, and trends.
  • To identify opportunities in the market.
  • Analyze the key challenges in the market.
  • Analyze the regional penetration of players, products, and services in the market.
  • Comparison of major players financial performance.
  • Evaluate strategies adopted by major players.
  • Recommendations
Why Choose Market Research Future?
  • Vigorous research methodologies for specific market.
  • Knowledge partners across the globe
  • Large network of partner consultants.
  • Ever-increasing/ Escalating data base with quarterly monitoring of various markets
  • Trusted by fortune 500 companies/startups/ universities/organizations
  • Large database of 5000+ markets reports.
  • Effective and prompt pre- and post-sales support.

Augmented Analytics In BFSI Market Research Report By Type (On-Premise Deployment, Cloud Deployment), By Data Source (Structured Data, Unstructured Data), By Application (Fraud Detection and Prevention, Risk Management, Regulatory Compliance, Customer Analytics), By Organization Size (Small and Medium-sized Enterprises (SMEs), Large Enterprises), By Vertical (Banking, Insurance, Financial Services) and By Regional (North America, Europe, South America, Asia Pacific, Middle East and Africa) - Industry Size, Share and Forecast to 2032


ID: MRFR/BFSI/27171-HCR | 128 Pages | Author: Aarti Dhapte| November 2024

Global Augmented Analytics In BFSI Market Overview:


Augmented Analytics In BFSI Market Size was estimated at 13.07 (USD Billion) in 2022. The Augmented Analytics In BFSI Market Industry is expected to grow from 15.2 (USD Billion) in 2023 to 59.3 (USD Billion) by 2032. The Augmented Analytics In BFSI Market CAGR (growth rate) is expected to be around 16.33% during the forecast period (2024 - 2032).


Key Augmented Analytics In BFSI Market Trends Highlighted


The Augmented Analytics In BFSI Market is poised for exponential growth, driven by the increasing need for data-driven decision-making in the financial services industry. Key market drivers include the rising adoption of cloud computing, the proliferation of data sources, and the growing importance of customer experience. Opportunities to be explored include the development of new augmented analytics tools tailored to the specific needs of the BFSI sector, such as fraud detection and risk management. Recent trends include the integration of augmented analytics with artificial intelligence (AI) and machine learning (ML) technologies, enabling more sophisticated data analysis and predictive insights. The market is expected to witness significant innovations in data visualization and storytelling techniques, making it easier for non-technical users to understand and utilize data insights. The use of augmented analytics for regulatory compliance and operational efficiency is also expected to gain traction. Overall, the Augmented Analytics In BFSI Market is primed for continued growth as the industry embraces data-driven decision-making and seeks to leverage advanced analytics capabilities to gain a competitive edge.


Global Augmented Analytics In BFSI Market Overview


Source: Primary Research, Secondary Research, MRFR Database and Analyst Review


Augmented Analytics In BFSI Market Drivers


Increased Need for Data-Driven Decision Making


In the fiercely competitive BFSI sector, where making quick and well-informed decisions is crucial, augmented analytics is gaining popularity. Financial institutions can use augmented analytics to analyze enormous volumes of structured and unstructured data, including customer behavior, market trends, and risk factors, to gain insightful information. This aids in a better grasp of client demands, the creation of individualized products and services, and judgments based on data. Augmented analytics improves data-driven decision-making by automating insights and providing real-time analytics, enabling BFSI organizations to stay ahead of the competition and adapt quickly to changing market conditions.


Growing Adoption of Cloud-Based Analytics


The expanding use of cloud-based analytics solutions is one of the main factors propelling the expansion of the augmented analytics market in the BFSI sector. BFSI organizations are embracing cloud-based analytics platforms due to their scalability, flexibility, and cost-effectiveness. With cloud-based solutions, financial institutions can analyze large volumes of data without having to invest in expensive on-premises infrastructure. Cloud-based augmented analytics platforms also provide access to advanced analytics capabilities, such as machine learning and artificial intelligence, which enhance the analysis and interpretation of data. This growing adoption of cloud-based analytics is expected to drive the growth of the augmented analytics market in the BFSI sector.


Regulatory Compliance and Risk Management


The BFSI sector is heavily regulated, and financial institutions must adhere to strict compliance requirements. Augmented analytics can assist BFSI organizations in meeting these regulatory requirements by providing them with the tools to analyze large volumes of data and identify potential risks. For instance, augmented analytics can be used to monitor transactions for suspicious activities, identify potential fraud, and assess the risk associated with different investments. By leveraging augmented analytics, BFSI organizations can improve their risk management capabilities, ensure compliance, and strengthen their overall security posture.


Augmented Analytics In BFSI Market Segment Insights:


Augmented Analytics In BFSI Market Type Insights


The Augmented Analytics In BFSI Market is segmented by Type into On-Premise Deployment and Cloud Deployment. On-premise deployment involves installing and managing the augmented analytics software on the organization's own servers, providing greater control and security over the data. Cloud deployment, on the other hand, involves accessing the augmented analytics software over the internet, offering greater flexibility, scalability, and cost-effectiveness. The Augmented Analytics In BFSI Market revenue for the On-Premise Deployment segment is expected to reach USD 6.8 billion by 2026, growing at a CAGR of 14.2%. This growth is attributed to the increasing adoption of on-premise deployment by large financial institutions and government organizations that require high levels of data security and control. The Augmented Analytics In BFSI Market revenue for the Cloud Deployment segment is expected to reach USD 10.4 billion by 2026, growing at a CAGR of 17.3%. The rising adoption of cloud-based services by BFSI organizations, driven by the benefits of scalability, cost-effectiveness, and ease of deployment, is fueling the growth of this segment. The market growth for both deployment types is driven by the increasing demand for data-driven insights, the need for real-time decision-making, and the growing adoption of artificial intelligence and machine learning technologies in the BFSI sector.


Augmented Analytics In BFSI Market Type Insights


Source: Primary Research, Secondary Research, MRFR Database and Analyst Review


Augmented Analytics In BFSI Market Data Source Insights


The Augmented Analytics In BFSI Market is segmented by Data Source into Structured Data and Unstructured Data. Structured data refers to highly organized information that can be easily processed by computers. This data is typically stored in relational databases or data warehouses and can be easily queried and analyzed. Unstructured data, on the other hand, is less structured and organized, making it more difficult to process and analyze. This type of data includes text documents, images, videos, and social media data. In 2023, the Augmented Analytics In BFSI Market for Structured Data was valued at 7.25 Billion USD and is expected to reach 22.51 Billion USD by 2032, exhibiting a CAGR of 13.7%. The market for Unstructured Data, on the other hand, was valued at 7.95 Billion USD in 2023 and is projected to grow to 36.79 Billion USD by 2032, registering a CAGR of 17.9%. The growth of the Augmented Analytics In BFSI Market for Structured Data is attributed to the increasing adoption of data warehouses and business intelligence tools by financial institutions. These tools enable banks and other financial institutions to analyze large volumes of structured data to gain insights into customer behavior, risk management, and fraud detection. The growth of the Unstructured Data segment is driven by the increasing volume of unstructured data generated by financial institutions. This data includes customer communications, social media data, and financial transactions. Augmented analytics tools can help banks and other financial institutions to analyze this unstructured data to gain insights into customer sentiment, identify new opportunities, and improve risk management.


Augmented Analytics In BFSI Market Application Insights


The application segment of the Augmented Analytics In BFSI Market is broadly classified into fraud detection and prevention, risk management, regulatory compliance, customer analytics, and operational efficiency. Among these, fraud detection and prevention is expected to hold the largest market share in 2023, owing to the growing incidence of financial fraud and the need for robust solutions to detect and prevent such activities. Risk management is another key application segment, driven by the need for financial institutions to manage risks effectively and comply with regulatory requirements. Augmented analytics solutions can help financial institutions identify, assess, and mitigate risks, thereby reducing the likelihood of financial losses. Regulatory compliance is also a significant driver of growth in the augmented analytics market, as financial institutions need to comply with complex and evolving regulations. Augmented analytics solutions can help financial institutions automate compliance processes, reduce the risk of non-compliance, and improve overall operational efficiency. Customer analytics is another important application segment, as financial institutions need to understand their customers' needs and behaviors in order to provide personalized products and services. Augmented analytics solutions can help financial institutions analyze customer data, identify customer segments, and develop targeted marketing campaigns. Operational efficiency is another key driver of growth in the augmented analytics market, as financial institutions need to improve their operational efficiency in order to reduce costs and improve profitability. Augmented analytics solutions can help financial institutions automate processes, improve decision-making, and reduce the need for manual intervention.


Augmented Analytics In BFSI Market Organization Size Insights


The Augmented Analytics In BFSI Market is segmented based on organization size into Small and Medium-sized Enterprises (SMEs) and Large Enterprises. In 2023, the Large Enterprises segment held a larger share of the market, owing to the increasing adoption of augmented analytics solutions by large financial institutions to enhance their data analysis capabilities and gain a competitive edge. However, the SMEs segment is expected to grow at a faster CAGR during the forecast period, driven by the increasing affordability and accessibility of augmented analytics solutions for small and medium-sized businesses.


Augmented Analytics In BFSI Market Vertical Insights


The Augmented Analytics In BFSI Market is segmented into Banking, Insurance, and Financial Services verticals. Among these, Banking is expected to hold the largest market share in 2023, owing to the increasing adoption of augmented analytics solutions by banks to enhance customer experience, improve risk management, and streamline operations. The Insurance vertical is anticipated to witness significant growth over the forecast period, driven by the rising demand for augmented analytics solutions to assess risks, detect fraud, and personalize insurance offerings. The Financial Services vertical is also expected to grow steadily, as augmented analytics solutions help financial institutions gain insights into customer behavior, optimize investment strategies, and enhance operational efficiency. Overall, the Augmented Analytics In BFSI Market is poised for robust growth in the coming years, with the Banking, Insurance, and Financial Services verticals playing a key role in driving market expansion.


Augmented Analytics In BFSI Market Regional Insights


The Augmented Analytics In BFSI Market is segmented into North America, Europe, APAC, South America, and MEA. North America is the largest regional segment, accounting for a significant share of the global revenue. The region is home to a large number of financial institutions that are early adopters of augmented analytics technology. Europe is the second-largest regional segment, followed by APAC. The APAC region is expected to witness the fastest growth over the forecast period, owing to the increasing adoption of augmented analytics technology by banks and other financial institutions in the region. South America and MEA are expected to grow at a moderate pace over the forecast period.


Augmented Analytics In BFSI Market Regional Insights


Source: Primary Research, Secondary Research, MRFR Database and Analyst Review


Augmented Analytics In BFSI Market Key Players And Competitive Insights:


Major players in Augmented Analytics In BFSI Market industry are constantly striving to develop innovative solutions to meet the evolving needs of the market. Leading Augmented Analytics In BFSI Market players are investing heavily in research and development to stay ahead of the competition. The Augmented Analytics In BFSI Market development is driven by the increasing adoption of artificial intelligence and machine learning technologies in the BFSI sector. The competitive landscape of the Augmented Analytics In BFSI Market is characterized by the presence of both established players and emerging startups. Established players have a strong foothold in the market due to their extensive customer base and brand recognition. However, emerging startups are rapidly gaining market share by offering innovative solutions and competitive pricing. The Augmented Analytics In BFSI Market Competitive Landscape is expected to remain highly competitive in the coming years. Tableau, a leading provider of data visualization and analytics software, is a major player in the Augmented Analytics In BFSI Market. The company offers a range of products and services that help businesses to analyze their data and make informed decisions. Tableau's Augmented Analytics In BFSI Market solutions are designed to help businesses to improve their customer experience, reduce risk, and increase profitability.

The company has a strong track record of innovation and has been recognized by Gartner as a leader in the Augmented Analytics In BFSI Market. Another key player in the Augmented Analytics In BFSI Market is SAS Institute. SAS is a leading provider of business intelligence and analytics software. The company's Augmented Analytics In BFSI Market solutions are designed to help businesses to improve their customer experience, reduce risk, and increase profitability. SAS has a strong track record of innovation and has been recognized by Gartner as a leader in the Augmented Analytics In BFSI Market.


Key Companies in the Augmented Analytics In BFSI Market Include:




  • SAP SE




  • Qlik




  • Oracle




  • Microsoft




  • Alteryx




  • TIBCO Software




  • Looker Data Sciences




  • SAS Institute




  • IBM




  • Salesforce




  • Google




  • DataRobot




  • MicroStrategy




  • H2O.ai




  • Amazon Web Services




  • Tableau Software




  • ThoughtSpot




Augmented Analytics In BFSI Industry Developments


The Augmented Analytics in BFSI market is projected to grow from USD 15.2 billion in 2023 to USD 59.3 billion by 2032, at a CAGR of 16.33%. The increasing adoption of digital technologies, the need for real-time insights, and the growing volume of data in the BFSI sector are driving the market growth. Key players in the market include IBM, Microsoft, SAP, SAS Institute, and Oracle. Recent developments in the market include the launch of new augmented analytics solutions and the formation of partnerships between vendors and BFSI institutions. For instance, in March 2023, IBM announced a partnership with HDFC Bank to implement its augmented analytics platform to enhance the bank's risk management capabilities. Such developments are expected to further drive the adoption of augmented analytics in the BFSI sector.


Augmented Analytics In BFSI Market Segmentation Insights


Augmented Analytics In BFSI Market Type Outlook



  • On-Premise Deployment

  • Cloud Deployment


Augmented Analytics In BFSI Market Data Source Outlook



  • Structured Data

  • Unstructured Data


Augmented Analytics In BFSI Market Application Outlook



  • Fraud Detection and Prevention

  • Risk Management

  • Regulatory Compliance

  • Customer Analytics

  • Operational Efficiency


Augmented Analytics In BFSI Market Organization Size Outlook



  • Small and Medium-sized Enterprises (SMEs)

  • Large Enterprises


Augmented Analytics In BFSI Market Vertical Outlook



  • Banking

  • Insurance

  • Financial Services


Augmented Analytics In BFSI Market Regional Outlook




  • North America




  • Europe




  • South America




  • Asia Pacific




  • Middle East and Africa



Report Attribute/Metric Details
Market Size 2022 13.07 (USD Billion)
Market Size 2023 15.2 (USD Billion)
Market Size 2032 59.3 (USD Billion)
Compound Annual Growth Rate (CAGR) 16.33% (2024 - 2032)
Report Coverage Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Base Year 2023
Market Forecast Period 2024 - 2032
Historical Data 2019 - 2023
Market Forecast Units USD Billion
Key Companies Profiled SAP SE, Qlik, Oracle, Microsoft, Alteryx, TIBCO Software, Looker Data Sciences, SAS Institute, IBM, Salesforce, Google, DataRobot, MicroStrategy, H2O.ai, Amazon Web Services, Tableau Software, ThoughtSpot
Segments Covered Type, Data Source, Application, Organization Size, Vertical, Regional
Key Market Opportunities Customer engagement optimization. Fraud detection. Risk assessment Underwriting efficiency. Personalized products.
Key Market Dynamics Increased data complexity. Regulatory compliance. Growing need for realtime insights. Adoption of AI and ML Focus on customer experience.
Countries Covered North America, Europe, APAC, South America, MEA


Frequently Asked Questions (FAQ) :

The Augmented Analytics In BFSI Market size is estimated to reach USD 59.3 billion by 2032, exhibiting a CAGR of 16.33% from 2024 to 2032.

Key applications include risk management, fraud detection, customer analytics, and operational efficiency.

Major players include IBM, Microsoft, SAP, Oracle, SAS Institute, and Alteryx.

Key trends include the adoption of cloud-based solutions, the integration of artificial intelligence (AI) and machine learning (ML), and the increasing focus on data privacy and security.

Challenges include the lack of skilled professionals, the high cost of implementation, and concerns about data privacy and security.

The market is expected to grow at a CAGR of 16.33% from 2023 to 2032.

Key drivers include the increasing need for data-driven decision-making, the growing adoption of digital technologies, and the increasing regulatory compliance requirements.

Potential benefits include improved risk management, increased customer satisfaction, and enhanced operational efficiency.

Key opportunities include the development of new applications, the expansion into new markets, and the partnerships with other technology providers.

Leading companies partner with us for data-driven Insights
client_1 client_2 client_3 client_4 client_5 client_6 client_7 client_8 client_9 client_10
Kindly complete the form below to receive a free sample of this Report
Please fill in Business Email for Quick Response

We do not share your information with anyone. However, we may send you emails based on your report interest from time to time. You may contact us at any time to opt-out.

Purchase Option
Single User $ 4,950
Multiuser License $ 5,950
Enterprise User $ 7,250
Compare Licenses
Tailored for You
  • Dedicated Research on any specifics segment or region.
  • Focused Research on specific players in the market.
  • Custom Report based only on your requirements.
  • Flexibility to add or subtract any chapter in the study.
  • Historic data from 2014 and forecasts outlook till 2040.
  • Flexibility of providing data/insights in formats (PDF, PPT, Excel).
  • Provide cross segmentation in applicable scenario/markets.