Portland, OR, Aug. 17, 2021 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global augmented intelligence market generated $11.73 billion in 2020, and is projected to reach $121.5 billion by 2030, witnessing a CAGR of 26.4% from 2021 to 2030. The report provides a detailed analysis of changing market dynamics, top segments, value chain, key investment pockets, regional scenario, and competitive landscape.
Rise in usage of advanced technologies such as big data, blockchain, artificial intelligence, and internet of thing among the businesses, rise in usage of digital technology, and surge in demand of business intelligence tools drive the growth of the global augmented intelligence market. However, implementation issues of augmented intelligence software and limited number of experts restrain the market to some extent. On the other hand, increase in advancements to adopt augmented intelligence solutions and rise in variety of data within automated processes present new opportunities in the upcoming years.
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Impact of COVID-19 on Augmented Intelligence Market:
- The augmented intelligence market is projected to prosper in the COVID-19 situation, owing to various government, public, and other organizations adopting work from home culture for their employees.
- Various IT & telecom industries are adopting augmented intelligence solutions for compensating the loss suffered due to the pandemic situation and improving their market share.
- Moreover, COVID-19 created a sudden requirement of remote working for the industry. Various companies across the globe have adopted work from home culture, which is increasing the adoption of internet services. This, in turn, is expected to drive the growth of the augmented intelligence market.
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The report offers detailed segmentation of the global retro-reflective materials market based on component, technology, enterprise size, industry vertical and region.
Based on component, the solution segment held the highest market share in 2020, holding nearly four-fifths of the total market share, and is expected to continue its leadership status during the forecast period. However, the service segment is estimated to register the highest CAGR of 27.9% from 2021 to 2030.
Based on enterprise size, the large enterprises segment held the largest market share in 2020, holding more than two-thirds of the total market share, and is expected to continue its leadership status during the forecast period. However, the SMEs segment is projected to register the highest CAGR of 28.3% from 2021 to 2030.
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Based on region, North America contributed to the highest share in terms of revenue in 2020, holding nearly two-fifths of the total market share, and is estimated to continue its dominant share by 2030. However, Asia-Pacific is projected to manifest the fastest CAGR of 29.2% during the forecast period.
Leading players of the global augmented intelligence market analyzed in the research include Amazon Web Services, Inc., International Business Machines Corporation, Micron Technology, Inc., Microsoft Corporation, QlikTech International AB, Salesforce.com, Inc., Samsung, SAP SE, Sisense Inc., and TIBCO Software Inc.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI.
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