AI Data Analysis Tool Market Trends and Forecast
The future of the global AI data analysis tool market looks promising with opportunities in the personal and enterprise markets. The global AI data analysis tool market is expected to grow with a CAGR of 22.3% from 2024 to 2030. The major drivers for this market are increasing volume and complexity of data and rising adoption of AI and machine learning.
• Lucintel forecasts that cloud based is expected to witness higher growth over the forecast period.
• Within this market, personal is expected to witness higher growth.
• APAC is expected to witness the highest growth over the forecast period.
Country Wise Outlook for the AI Data Analysis Tool Market
• United States: In the United States, companies like Tableau and Microsoft are leading advancements in the AI data analysis tool market. Tableau, now part of Salesforce, announced enhancements in natural language processing (NLP) capabilities within its analytics platform. This initiative aims to simplify data analysis by allowing users to query data using natural language, thereby democratizing data access and decision-making. Microsoft introduced Azure Synapse Analytics, integrating AI for enhanced data warehousing and analytics. This platform targets enterprises seeking scalable and integrated solutions for data analysis and machine learning. Government support indirectly benefits these initiatives through policies fostering digital innovation and AI research, promoting a conducive environment for AI data analysis tool development.
• India: In India, startups and tech firms are innovating in the AI data analysis tool market, focusing on scalability and localization. Companies are developing AI-driven analytics platforms tailored for the Indian businesses, integrating features like predictive analytics and data visualization. Initiatives aim to enhance decision-making capabilities and operational efficiency across sectors. Government initiatives support digital transformation and AI adoption, encouraging indigenous development of AI technologies through funding and regulatory frameworks.
A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below.
AI Data Analysis Tool Market by Segment
The study includes a forecast for the global AI data analysis tool market by type, application, and region.
AI Data Analysis Tool Market by Type [Value from 2018 to 2030]:
• Cloud Based
• On-Premise
AI Data Analysis Tool Market by Application [Value from 2018 to 2030]:
• Personal
• Enterprise
AI Data Analysis Tool Market by Region [Value from 2018 to 2030]:
• North America
• Europe
• Asia Pacific
• The Rest of the World
List of AI Data Analysis Tool Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies AI data analysis tool companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the AI data analysis tool companies profiled in this report include-
• Coginiti Ai
• Pandachat Ai
• Puddl
• Ai Assist
• Data.Ai
• Outset.Ai
• Deepsheet
• Chat2Csv
• Owlbot
• Tomat.ai
Recent Development in the AI Data Analysis Tool Market
• Tableau (now part of Salesforce) : Tableau has introduced natural language processing (NLP) capabilities in its data analysis tools. This initiative allows users to interact with data using conversational queries, enabling non-technical users to derive insights without needing to write complex queries. TableauÄX%$%Xs NLP feature aims to democratize data analysis and improve accessibility for all users within organizations, thereby enhancing decision-making processes.
• Microsoft : Microsoft has launched Azure Synapse Analytics, an integrated analytics service that combines big data and data warehousing capabilities. This initiative includes AI-driven features such as auto-scaling, machine learning integration, and AI-powered data preparation to streamline data analysis workflows. Azure Synapse Analytics aims to empower data professionals to analyze large datasets efficiently and derive actionable insights using advanced AI and machine learning technologies.
• Alteryx : Alteryx specializes in data preparation and analytics automation software. Their initiative involves integrating AI and machine learning capabilities into their platform to automate repetitive data tasks, accelerate data insights, and improve decision-making processes. AlteryxÄX%$%Xs AI-driven automation features aim to reduce the time and effort required for data analysis, allowing organizations to focus on deriving value from data rather than managing its complexities.
• Qlik : Qlik has embraced augmented intelligence in its data analytics platform. This initiative includes AI-driven features such as cognitive engine capabilities for automated data discovery, natural language processing for query generation, and predictive analytics for forecasting and trend analysis. QlikÄX%$%Xs augmented intelligence aims to enhance user experience by providing AI-powered insights and recommendations that augment human decision-making processes.
Features of the Global AI Data Analysis Tool Market
Market Size Estimates: Ai data analysis tool market size estimation in terms of value ($B).
Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.
Segmentation Analysis: Ai data analysis tool market size by type, application, and region in terms of value ($B).
Regional Analysis: Ai data analysis tool market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
Growth Opportunities: Analysis of growth opportunities in different types, applications, and regions for the AI data analysis tool market.
Strategic Analysis: This includes M&A, new product development, and competitive landscape of the AI data analysis tool market.
Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
FAQ
Q1. What is the growth forecast for AI data analysis tool market?
Answer: The global AI data analysis tool market is expected to grow with a CAGR of 22.3% from 2024 to 2030.
Q2. What are the major drivers influencing the growth of the AI data analysis tool market?
Answer: The major drivers for this market are increasing volume and complexity of data and rising adoption of AI and machine learning.
Q3. What are the major segments for AI data analysis tool market?
Answer: The future of the AI data analysis tool market looks promising with opportunities in the personal and enterprise markets.
Q4. Who are the key AI data analysis tool market companies?
Answer: Some of the key AI data analysis tool companies are as follows:
• Coginiti Ai
• Pandachat Ai
• Puddl
• Ai Assist
• Data.Ai
• Outset.Ai
• Deepsheet
• Chat2Csv
• Owlbot
• Tomat.ai
Q5. Which AI data analysis tool market segment will be the largest in future?
Answer: Lucintel forecasts that cloud based is expected to witness higher growth over the forecast period.
Q6. In AI data analysis tool market, which region is expected to be the largest in next 5 years?
Answer: APAC is expected to witness the highest growth over the forecast period.
Q7. Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% customization without any additional cost.
This report answers following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the AI data analysis tool market by type (cloud based and on-premise), application (personal and enterprise), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?
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