USD 14.92 Billion
Augmented Intelligence Market Size, Share, Growth Analysis, By Component(Software, and Services), By Deployment Mode(Cloud, On-Premises), By Enterprise Size(SMBs, Large Enterprises), By Technology(Machine Learning, Natural Language Processing, Computer Vision, Others), By Vertical(BFSI, IT & Telecom, Retail & Consumer Goods, Healthcare & Life Sciences), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG45B2069 |
Region:
Global |
Published Date: September, 2024
Pages:
197
|Tables:
61
|Figures:
75
Augmented Intelligence Market Insights
Global Augmented Intelligence Market size was valued at USD 17.84 Billion in 2022 and is poised to grow from USD 21.34 Billion in 2023 to USD 89.33 Billion by 2031, at a CAGR of 19.6% during the forecast period (2024-2031).
The purpose of the Augmented Intelligence market is to leverage AI technologies to enhance human productivity, efficiency, and decision-making across various industries and sectors. By combining the strengths of AI algorithms and human expertise, Augmented Intelligence enables businesses and individuals to achieve better results, gain deeper insights, and make more informed decisions. The key driving factors of the Augmented Intelligence market is the increasing availability and accessibility of big data. With the exponential growth of data, businesses are seeking ways to derive meaningful insights and make data-driven decisions. The Augmented Intelligence market presents significant opportunities. The demand for AI-powered solutions and technologies is expected to increase as businesses recognize the value of leveraging AI to improve their operations and decision-making. The global Augmented Intelligence market is driven by the need for enhanced decision-making, leveraging AI technologies to augment human capabilities. While there are challenges to overcome, such as ethical concerns and implementation complexities, the market offers significant opportunities for businesses to leverage AI technologies and unlock new levels of productivity, efficiency, and insights.
US Augmented Intelligence Market is poised to grow at sustainable CAGR for the next forecast year.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Software
Fastest Growth
Software
Growth Rate
19.6% CAGR
Global Augmented Intelligence Market ($ Bn)
largest
Country Share for North America Region (%)
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Augmented Intelligence Market Segmental Analysis
The global augmented intelligence market is segmented based on component, Deployment mode, enterprise size, technology, vertical and region. Based on component, the market is segmented into software and services. Based on Deployment Mode, the market is segmented into Cloud, and On-Premises. Based on enterprise size, the market is segmented into SMBs, and large enterprises. Based on technology, the market is segmented into Machine Learning, Natural Language Processing, Computer Vision, and Others. Based on vertical, the market can be segmented into BFSI, IT & Telecom, Retail & Consumer Goods, Healthcare & Life Sciences, Manufacturing, Government & Defense, Energy & Utilities, Transportation & Logistics, Media & Entertainment, and Others. Based on region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Augmented Intelligence Market Analysis by Component
The largest segment is the software segment. Software plays a crucial role in enabling augmented intelligence capabilities by providing advanced analytics, machine learning algorithms, and data processing tools. With the increasing demand for data-driven insights and decision-making, organizations are heavily investing in augmented intelligence software solutions to gain a competitive edge. These software solutions offer features such as predictive analytics, natural language processing, and data visualization, empowering businesses to extract valuable insights from their data and make informed decisions.
The services segment is the fastest-growing segment in the augmented intelligence market. Services encompass various offerings such as consulting, implementation, training, and support. As organizations embrace augmented intelligence technology, they require expert guidance and assistance in deploying and integrating these solutions effectively. Consulting services help businesses understand their specific requirements and develop a tailored approach to implementing augmented intelligence. Implementation services ensure the smooth deployment of the software and its integration into existing systems. Training services provide organizations with the necessary knowledge and skills to leverage augmented intelligence effectively. Support services ensure ongoing maintenance and troubleshooting of the augmented intelligence systems.
Analysis by Enterprise Size
The largest segment in the global augmented intelligence market is the large enterprises segment. Large enterprises are companies that employ more than 1000 people. These organizations generate massive volumes of data and require advanced analytics solutions to gain valuable insights. The adoption of augmented intelligence technology is high among large enterprises as they have the resources and infrastructure to implement and leverage these sophisticated analytics tools. The need for streamlining business processes, making data-driven decisions, and gaining a competitive edge are driving the adoption of augmented intelligence among large enterprises. With their significant market presence and data-driven operations, large enterprises contribute a substantial share to the augmented intelligence market.
The fastest growing segment in the market is the SMBs (Small and Medium Businesses) segment. SMBs are businesses that consist of less than 1000 employees. In the past, the adoption of augmented intelligence technology was relatively lower among SMBs due to factors such as lack of awareness and high initial investment costs. However, as the technology has advanced and become more accessible, SMBs are increasingly realizing the benefits of augmented intelligence in improving their business operations and decision-making processes. As a result, the adoption of augmented intelligence is expected to witness a significant growth rate among SMBs. The integration of advanced analytics tools can help SMBs gain actionable insights from their data, enhance operational efficiency, and achieve better business outcomes.
Global Augmented Intelligence Market By Component
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Augmented Intelligence Market Regional Insights
The North America region accounted for a significant market share of over 30% in the augmented analytics market. This can be attributed to the widespread adoption of advanced technologies aimed at enhancing customer experience. Many enterprises in North America have embraced advanced analytics solutions to improve their business operations. From business intelligence to data discovery and now augmented analytics, the region has witnessed rapid adoption of these technologies. Companies in North America have recognized the importance of analyzing data effectively to understand consumer needs and provide exceptional customer experiences. As an example, in January 2019, Pepsico, a prominent food and beverage company, announced its plans to leverage augmented intelligence for strategic decision-making and gaining valuable consumer insights.
Asia Pacific is projected to experience the highest compound annual growth rate (CAGR) of 31.3% from 2023 to 2030 in the augmented analytics market. This growth is primarily driven by the increasing implementation of data discovery, visualization, and self-service Business Intelligence (BI) tools across various business organizations in countries like India, China, and Japan. These capabilities have become integral to the evolving trends in these countries, enabling companies to make data-driven business decisions and derive valuable insights from their data. The growing focus on data-driven decision-making and the increasing adoption of analytics tools in the Asia Pacific region present significant opportunities for the augmented analytics market to expand and thrive.
Global Augmented Intelligence Market By Region
- Largest
- Fastest
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Augmented Intelligence Market Dynamics
Augmented Intelligence Market Drivers
Increasing Demand for Advanced Analytics
- Businesses across industries are recognizing the importance of data-driven decision-making and are seeking advanced analytics solutions to gain valuable insights. Augmented intelligence enables organizations to leverage machine learning algorithms and natural language processing to analyze large volumes of data and extract meaningful patterns and insights. In 2022, the demand for augmented intelligence is expected to grow as businesses strive to optimize their operations, improve customer experiences, and drive innovation.
Technological Advancements
- Continuous advancements in artificial intelligence, machine learning, and natural language processing technologies are fueling the growth of the augmented intelligence market. These advancements enable more accurate and efficient data analysis, predictive modeling, and automated decision-making processes. In 2022, the market is anticipated to witness the introduction of more sophisticated augmented intelligence solutions with enhanced capabilities, opening up new opportunities for businesses to harness the power of data.
Augmented Intelligence Market Restraints
Data Privacy and Security Concerns
- As augmented intelligence relies on analyzing and processing large amounts of data, data privacy and security become crucial factors. Businesses need to ensure that sensitive and confidential information is protected throughout the data analysis process. With increasing regulations and growing concerns over data breaches, organizations may face challenges in implementing augmented intelligence solutions while maintaining data privacy and compliance.
Lack of Skilled Professionals
- The shortage of skilled professionals with expertise in augmented intelligence technologies can be a significant challenge for businesses. Building and maintaining augmented intelligence systems require specialized knowledge in areas such as machine learning, data analysis, and algorithm development. In 2022, the scarcity of skilled professionals in the field may hinder the widespread adoption and implementation of augmented intelligence solutions.
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Augmented Intelligence Market Competitive Landscape
The nature of the global augmented intelligence market is highly competitive, with several key players vying for market share. These companies are actively engaged in strategic initiatives such as mergers and acquisitions, partnerships, and product launches to strengthen their market position and gain a competitive edge. The competitive landscape of the augmented intelligence market is characterized by the presence of both established technology giants and emerging startups. The competitive landscape of the global augmented intelligence market is dynamic and evolving, driven by the pursuit of technological advancements, customer-centric solutions, and market expansion. With the increasing demand for augmented intelligence across industries, competition among key players is expected to intensify, leading to further innovations and advancements in the market.
Augmented Intelligence Market Top Player’s Company Profiles
- IBM Corporation (US)
- Google LLC (US)
- Microsoft Corporation (US)
- Amazon Web Services (US)
- Salesforce.com, Inc. (US)
- Oracle Corporation (US)
- SAP SE (Germany)
- SAS Institute Inc. (US)
- Intel Corporation (US)
- NVIDIA Corporation (US)
- Baidu, Inc. (China)
- Facebook, Inc. (US)
- Apple Inc. (US)
- Tencent Holdings Ltd. (China)
- Alibaba Group Holding Ltd. (China)
- Huawei Technologies Co., Ltd. (China)
- Accenture PLC (Ireland)
- Infosys Limited (India)
- Cognizant Technology Solutions Corporation (US)
- ThoughtSpot Inc. (US)
- ServiceNow Inc. (US)
- Palantir Technologies Inc. (US)
Augmented Intelligence Market 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 September 2021, Amazon Web Services (AWS) launched "Amazon Augmented AI" (Amazon A2I) for AWS Marketplace, which provides developers with pre-built human review workflows to improve the accuracy and reliability of machine learning models.
- In April 2021, Oracle made its Golden Gate 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.
Augmented Intelligence Key Market Trends
- Integration of Augmented Intelligence in Various Industries: Augmented intelligence is increasingly finding applications in diverse industries, including healthcare, finance, retail, and manufacturing. In 2022, there will be a growing trend of integrating augmented intelligence into industry-specific processes and workflows, enabling organizations to gain insights, automate tasks, and improve overall operational efficiency.
- Emphasis on Explainable AI: As augmented intelligence systems become more sophisticated, there is a growing need for transparency and interpretability of AI-driven decisions. Explainable AI, which aims to provide insights into the decision-making process of AI models, will be a significant trend in 2022. Organizations and regulatory bodies will focus on ensuring that augmented intelligence solutions provide transparent explanations and justifications for their outputs, especially in critical applications such as healthcare and finance.
Augmented Intelligence Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyzes the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our global augmented intelligence market analysis, it is expected to experience significant growth during the forecast period from 2023 to 2030. The market refers to the market for technologies and solutions that combine artificial intelligence (AI) capabilities with human intelligence to enhance decision-making and problem-solving processes. Augmented intelligence systems assist humans by providing insights, recommendations, and data analysis, enabling better and more informed decision-making. The market for augmented intelligence is driven by several factors. The increasing availability of big data and the need to extract meaningful insights from large datasets are fuelling the demand for augmented intelligence solutions. Organizations across various industries are leveraging augmented intelligence to analyze and interpret vast amounts of data more efficiently. The global augmented intelligence market is driven by the increasing availability of big data, the adoption of AI technologies, and the need for better decision-making. While facing challenges such as privacy concerns and integration complexities, the market offers substantial opportunities for organizations to leverage augmented intelligence for improved efficiency and competitive advantage.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 17.84 Billion |
| Market size value in 2031 | USD 89.33 Billion |
| Growth Rate | 19.6% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Augmented Intelligence Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Augmented Intelligence Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Augmented Intelligence Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Augmented Intelligence Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Augmented Intelligence Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Augmented Intelligence Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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