Global augmented intelligence market size was US$ XX Bn in 2019 and is expected to reach US$ XX Bn by 2027, at a CAGR of 35.8% during the forecast period.
Global Augmented Intelligence Market
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Global augmented intelligence market Definition
Augmented intelligence is often referred to as an artificial intelligence tool. Augmented intelligence makes use of information technology in augmenting human intelligence rather than replacing them. It is also known as intelligence amplification, enhanced intelligence, cognitive augmentation, and assistive intelligence.
Global augmented intelligence market Dynamics
Growing adoption of augmented intelligence tools by various industries or sectors to impel productivity, enhance efficiency, and to save organizational money and workers time is a major driving factor behind the growth of the market. A surge in the demand of augmented intelligence applications in various organizations to improve capabilities of human workers to perform various tasks, increasing adoption of augmented intelligence in financial, healthcare, retail, marketing and sales sector and rising use of machine learning technologies in augmented intelligence are expected to improve the growth of the market during the forecast period. Augmented intelligence provides some benefits such as elimination of time-consuming tasks, higher-value analytics, improved decision making, and faster response, which are ultimately propelling the growth of the market.
However, the higher cost associated with augmented intelligence, data structure, and integrity is major restraining factors that could hamper the growth of the market.
Global Augmented Intelligence Market: Segmentation Analysis
By industry, the healthcare segment dominated the market in 2019 and is expected to maintain its dominance at CAGR of XX% during the forecast period. Growing adoption of augmented intelligence to improve clinical or healthcare decision making is driving the growth of the market. According to research by MMR, in June 2018, the American Medical Association (AMA), the largest association of Dos, MDs and medical students in the US have implemented a new policy named as Augmented Intelligence in Healthcare to provide an intelligent set of tools to assist patients, physicians, and healthcare communities in various countries across the globe to deal with quality struggles, cost challenges, decision makings, and more. Growing initiatives by leading companies such as IBM in the healthcare augmented intelligence to provide clinical decision support to some of the top medical institutions in the US and increasing efforts by other leaders such as Microsoft and Google in machine learning technologies is further impelling the growth of the market.
Alternatively, the BFSI segment is projected to witness fast growth at a CAGR of XX% during the forecast period. Increasing adoption of augmented intelligence in financial institutions to make a more flexible service environment to provide improved satisfaction to customers by reducing operational risk and cost and by enhancing security and privacy is propelling the growth of the market.
Global Augmented Intelligence Market: Regional Analysis
Region-wise, North America dominated the market in 2019 and is expected to maintain its dominance at CAGR of XX% during the forecast period. The US and Canada are major contributors to the growth of the market in this region. The early adoption of the latest technologies along with the massive presence of leading key market players such as IBM, Google, Microsoft, and others are driving the growth of the market in the NA region. Also, early adoption of the augmented intelligence in healthcare sector by American Medical Associations to provide several benefits of AI to patients, physicians, and countries across the world is propelling the growth of the market. Increasing investments by the US governments for research and development activities in the augmented intelligence and artificial intelligence is further impelling the growth of the market in the region.
Global Augmented Intelligence Market: Key Developments
In Feb 2019, Qlik announced a partnership with DataRobot to bring automated machine-learning modeling directly into Qlik, giving business users the power of predictive data decision-making within any analytics workflow.
The objective of the report is to present a comprehensive analysis of the Global Augmented Intelligence Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers, and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding Global Augmented Intelligence Market dynamics, structure by analyzing the market segments and projects the Global Augmented Intelligence Market. Clear representation of competitive analysis of key players by Application, price, financial position, Product portfolio, growth strategies, and regional presence in the Global Augmented Intelligence Market make the report investor’s guide.
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Global Augmented Intelligence Market, By Offering
Global Augmented Intelligence Market, By Technology
- Machine Learning
- Natural Language Processing
- Computer Vision
- Spatial Navigation
- Logical Reasoning
Global Augmented Intelligence Market, By Industry
- IT & Telecom
Global Augmented Intelligence Market, By Region
- North America
- Asia Pacific
- South America
- Middle East and Africa
Global Augmented Intelligence Market, Key Players
- Samsung Electronics
- Micron Technology
- Amazon Web Services (AWS)
- General Electric
- Mellanox Technologies
- MondoBrain Inc
- Cosmo Tech
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