New York, USA, June 06, 2023 (GLOBE NEWSWIRE) -- According to a comprehensive research report by Market Research Future (MRFR), “Global Augmented Intelligence Market Information by Offering, by Technology, by End-Use Industry and Region – forecast to 2030”, the market size is to grow at a compound annual growth rate of 25.5%.
Market Synopsis:
The augmented intelligence market is a rapidly growing sector that combines artificial intelligence (AI) capabilities with human intelligence to enhance decision-making and problem-solving processes. Augmented intelligence, also known as intelligence amplification, focuses on leveraging AI technologies to augment human capabilities rather than replacing them.
This market has witnessed significant growth in recent years due to advancements in AI technologies, increased adoption of AI-powered solutions across various industries, and the need for improved decision-making in complex and data-driven environments. Augmented intelligence solutions offer several benefits, such as improved efficiency, enhanced accuracy, increased productivity, and reduced operational costs.
The market is driven by various factors, including the growing volume and complexity of data, the need for real-time insights, and the demand for personalized and intuitive user experiences. Augmented intelligence finds applications in diverse sectors, including healthcare, finance, manufacturing, retail, and customer service. It assists in tasks like data analysis, pattern recognition, natural language processing, and predictive modeling, empowering professionals to make informed decisions quickly.
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Market Competitive Landscape:
Players leading the Augmented Intelligence Market include:
- Intel
- Nvidia
- Samsung Electronics
- Xilinx
- Micron Technology
- IBM
- Microsoft
- Amazon Web Services (AWS)
- Baidu
- Oracle
Scope of the Report - Augmented Intelligence Market:
| Report Metrics | Details |
| Market Size by 2030 | USD 119.4 Billion |
| CAGR during 2022-2030 | 25.5% |
| Base Year | 2021 |
| Forecast | 2022-2030 |
| 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 Dynamics | The increase in demand for business intelligence products has a favorable effect on the market's expansion. |
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Industry Trends:
The increasing volume of complex business data is driving the need for augmented intelligence solutions. Augmented intelligence can help businesses to analyze this data and make better decisions.
There is a growing trend of businesses adopting advanced augmented intelligence and analytics tools. These tools can help businesses to automate tasks, improve productivity, and make better decisions.
Businesses are increasingly adopting digital initiatives such as cloud computing, big data, and the Internet of Things (IoT). These initiatives are creating new opportunities for augmented intelligence solutions.
Segments:
The augmented intelligence market is segmented on the basis of components, technology, enterprise size, industry vertical, and region.
The market is segmented into software and services. The software segment is expected to account for the largest share of the market during the forecast period. This is due to the increasing demand for AI-powered software solutions that can help businesses automate tasks, improve decision-making, and increase productivity.
The market is segmented into machine learning, natural language processing, computer vision, and others. The machine learning segment is expected to account for the largest share of the market during the forecast period. This is due to the increasing adoption of machine learning algorithms in various industries, such as manufacturing, healthcare, and retail.
The market is segmented into large enterprises and small and medium-sized enterprises (SMEs). The large enterprises segment is expected to account for the largest share of the market during the forecast period. This is due to the increasing adoption of AI-powered solutions by large enterprises to improve their business operations.
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The market is segmented into IT and telecom, retail and e-commerce, BFSI, healthcare, manufacturing, automotive, and others. The IT and telecom segment is expected to account for the largest share of the market during the forecast period. This is due to the increasing adoption of AI-powered solutions by IT and telecom companies to improve their customer service, network security, and data analytics capabilities.
The market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is expected to account for the largest share of the market during the forecast period. This is due to the early adoption of AI-powered solutions by businesses in the region.
The augmented intelligence market is expected to grow at a significant rate during the forecast period. The growth of the market is driven by factors such as the increasing demand for AI-powered solutions, the growing adoption of cloud-based solutions, and the increasing availability of data.
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Regional Analysis:
The augmented intelligence market is segmented by region into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
North America is expected to dominate the augmented intelligence market during the forecast period. The region is home to a large number of early adopters of augmented intelligence technologies, such as Microsoft, Google, and IBM. These companies are investing heavily in research and development of augmented intelligence technologies, which is expected to drive the growth of the market in the region.
Europe is expected to be the second-largest market for augmented intelligence during the forecast period. The region has a strong focus on research and development, and there is a large number of startups working on augmented intelligence technologies. The increasing adoption of augmented intelligence technologies in the healthcare, manufacturing, and automotive industries is expected to drive the growth of the market in the region.
Asia Pacific is expected to be the fastest-growing market for augmented intelligence during the forecast period. The region has a large pool of skilled workforce and a growing economy. The increasing adoption of augmented intelligence technologies in the manufacturing, automotive, and healthcare industries is expected to drive the growth of the market in the region.
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