Luton, Bedfordshire, United Kingdom, Aug. 22, 2022 (GLOBE NEWSWIRE) -- Exactitude Consultancy, the market research and consulting wing of Ameliorate Digital Consultancy Private Limited has completed and published the final copy of the detailed research report on the Augmented Intelligence Market.
Augmented Intelligence Market: Exactitude Consultancy
Augmented Intelligence Market garnered USD 11 billion in 2020 and is expected to reach USD 80.18 billion by 2029
Augmented Intelligence Market is expected to grow to exhibit a Compound Annual Growth Rate (CAGR) of 24.7% during the forecast period
Augmented intelligence is a different type of artificial intelligence technology that complements artificial intelligence technology. Numerous businesses and organisations can benefit from solutions from the worldwide augmented intelligence market by making sophisticated and precise data-driven decisions in all areas of business as well as in daily life.
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The increased adoption of cutting-edge technologies by different corporate organisations, including blockchain, the internet of things, big data, and artificial intelligence, as well as the increased use of newer digital technologies to meet consumer expectations, are both driving the global augmented intelligence market. The demand for corporate intelligence products is increasing, which is driving the growth of the global augmented intelligence market. As IoT becomes more widespread, businesses will expect higher levels of security and privacy to guard against breaches. Every endpoint, gateway, sensor, and smartphone will likely have security and privacy issues as the number of IoT-enabled devices increases, making them all vulnerable to hackers.
Recent Developments:
- In March 2022, Schlumberger partnered with Dataiku to provide customers with a single, centralized platform for designing, deploying, governing, and managing AI and analytics applications, allowing everyday users to create 'low-code no-code' AI solutions.
- In April 2021, Oracle made its GoldenGate technology available as a highly automated, fully managed cloud service that clients can use to help ensure that their valuable data is always available and analyzable in real-time, wherever they need it.
- In April 2020, IBM released novel AI-powered technologies. IBM released novel AI-powered technologies to help the Health and Research Community accelerate the discovery of medical insights and treatments for COVID-19.
Strategic Insights
| Report Attribute/Metric | Details |
| Market Size | Significant USD |
| CAGR | 24.7% |
| Base Year | 2021 |
| Forecast Period | 2022-2029 |
| Historical Data | 2020 |
| Forecast Units | Significant value |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Offering, Technology |
| Geographies Covered | North America, Europe, Aisa Pacific |
| Key Vendors | Intel Nvidia Samsung Electronics Xilinx, Micron Technology IBM, Microsoft Google Amazon Web Services (AWS) Facebook Baidu Oracle Salesforce SAS, SAP General Electric Cisco, Rockwell Siemens AND Mellanox Technologies MondoBrain Inc. Sisense Cosmo Tech Qlik Quartic.ai |
| Key Market Opportunities | During the projection period, a rise in the use of augmented intelligence solutions by major companies, as well as a rise in the number and diversity of data inside an automatic system, is anticipated to provide lucrative possibilities for the market's development. |
| Key Market Drivers | The increase in demand for business intelligence products has a favourable effect on the market's expansion. |
Augmented Intelligence Market Players:
The major players operating in the global augmented intelligence industry include AWS, Microsoft, Salesforce, SAP, IBM, SAS, CognitiveScale, QlikTech International AB, TIBCO, Google, MicroStrategy, Sisense, NEORIS, Dataiku, Cosmo Tech, Jumio, Lucidworks, Squirro AG, DataRobot, Tellius, EazyML, Stradigi AI, Aible, Pecan.ai, CausaLens, BioXplor, Pryon, Augmented Intelligence, Bondi Labs.
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Key Market Segments: Augmented Intelligence Market
Augmented Intelligence Market by Technology, 2020-2029, (USD Million)
- Machine Learning
- Natural Language Processing
- Computer Vision
- Others
Augmented Intelligence Market by Organization Size, 2020-2029, (USD Million)
- Small and Medium-Sized Enterprises
- Large Enterprises
Augmented Intelligence Market by Vertical, 2020-2029, (USD Million)
- IT & Telecom
- BFSI
- Retail & Consumer Goods
- Healthcare & Life Sciences
- Manufacturing
- Government & Defence
- Energy & Utilities
- Transportation & Logistics
- Media & Entertainment
Augmented Intelligence Market: Regional Analysis
The Global Augmented Intelligence Market has been divided into four geographic regions based on their economic output: North America, Europe, Asia-Pacific, Middle East & Africa (MEA), and South America (SAC). Since there are a lot of small, medium, and large firms in North America of various kinds, it is projected that throughout this projection period, North America will account for the largest proportion of global augmented intelligence market sales. The growth of the market is being influenced by a number of significant factors, including as the rising use of sustainable cloud platforms and the creation of new business models. Asia Pacific is expected to see the highest compound annual growth rate (CAGR) throughout the projection period due to its expanding industrial sector and expanding IT network.
Market Dynamics
Increasing volume of complex corporate data is a market dynamics driver.
A growing demand for augmented intelligence technologies, such as machine learning and natural language processing, is there to analyse the data (NLP). Analysis of organised, semi-structured, and unstructured data sets that are accessible within organisations is made possible through augmented intelligence. Due to the development of digital technology across company processes, it is anticipated that the variety and volume of data generated will significantly rise in the coming years. The market for augmented intelligence is anticipated to increase as a result of this rising volume of complex data.
Top Impacting Factors
Several businesses across the globe have been using the advanced technologies such as big data, block chain artificial intelligence and internet of things, for solving the complex business problem and improving their revenue. In addition, artificial intelligence technology provides numerous applications to business, which includes transferring and cross-referencing data, predicting consumer’s behaviours and personalized advertising and marketing products.
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