ID: MRFR/ICT/7240-HCR | February 2021 | Region: Global | 110 pages
Augmented intelligence is an alternative conceptualization of artificial intelligence that focuses on AI's assistive role, emphasizing the fact that cognitive technology is designed to enhance human intelligence rather than replace it. Augmented intelligence reinforces the role human intelligence plays when using machine learning and deep learning algorithms to discover relationships and solve problems. In the upcoming years, augmented intelligence will be defined as the relationship between machine and human for effective and efficient output. For instance, augmented intelligence will play a vital role in financial institutions as this humans-machines pair will enable them to make efficient business decisions ensuring better interaction of their employees with customers. Similarly, the healthcare industry also demands enhanced operational efficiency while dealing with patients, thus augmented intelligence will enable them to extend their traditional settings. The global augmented intelligence market is expected to grow at a significant rate over the forecast period owing to the increasing demand for analyzing huge volumes of unstructured data among the organizations. The global augmented intelligence market growth is also expected to be influenced by the increasing R&D investments by large players to adopt augmented intelligence solutions. Moreover, companies are projected to indulge in mergers and acquisitions to make the most use of technology in favor of their organization.
Global Augmented Intelligence Market is expected to register a CAGR of 35.8% during the review period, 2019–2025.
The global augmented intelligence market is characterized by the presence of several regional and local providers. Key players in the global augmented intelligence market are offering comprehensive products that bring edge-to-enterprise analytics, machine learning, industrial internet of things (IIoT) and augmented reality (AR) to industrial operations.
Some of the Key Players in the market are 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, and Quartic.ai.
The Global Augmented Intelligence Market has been segmented based on offering, Technology, End-Use Industry, and Region.
Offering, the market has been segmented into hardware, software, and services. The hardware segment has been further sub-segmented into processors, memory, and network. The software segment includes AI platforms and AI solutions. The services segment has been divided into deployment & integration and support & maintenance.
By Technology, the market has been divided into machine learning, natural language processing, context-aware computing, and computer vision. Natural language processing is expected to gain the largest market share during the forecast period owing to its ability to process natural language interactions. Further, the natural language processing technology segment is likely to be followed by machine learning and machine vision segments.
By End-Use Industry, the market has been segmented into healthcare, manufacturing, automotive, agriculture, retail, human resources, fintech, and others. The healthcare segment is expected to grow significantly over the forecast duration, followed by the BFSI segment.
The regions included in the study are North America, Europe, Asia-Pacific, the Middle East and Africa, and South America.
Geographically, the Global Augmented Intelligence Market has been categorized into four regions, namely North America, Europe, Asia-Pacific, Middle East & Africa, and South America.
North America is expected to hold the largest share in the global augmented intelligence market during the forecast duration due to the presence of several small, medium, and large enterprises across the region. Key factors such as rapid adoption of integrated cloud platform and the emergence of new business models are influencing the market growth. Asia Pacific is expected to register the highest CAGR over the projected period due to the development of IT infrastructure and the manufacturing sector.
Key Questions Addressed by the Report
Frequently Asked Questions (FAQ) :
The growing demand for analyzing enormous volumes of unstructured data in the organizations is expected to provide the market with an advantage.
Salesforce, SAS, SAP, MondoBrain Inc., Sisense, General Electric, Cisco, Rockwell, Facebook, Baidu, Oracle, Siemens, and Mellanox Technologies are stimulating market growth considerably.
A 35.8% CAGR is expected to fuel the growth of the market in the forecast period.
The market is expected to accomplish a lucrative income level in the forecast period.
The rapid adoption of the integrated cloud platform is estimated to induce promising growth in the position of the North American region.