Report Id: SNS/ICT/1145 | May 2022 | Region: Global | 135 Pages
Report Scope & Overview:
The Augmented Intelligence market size was valued at USD 11.98 Bn in 2021 and is expected to reach USD 65.93 Bn by 2028, and grow at a CAGR of 23.76% over the forecast period 2022-2028.
Artificial intelligence that focuses on AI's assisting role is known as augmented intelligence. Furthermore, augmented intelligence is being created to assist organizations in making more accurate data-driven judgments in business and daily life. Furthermore, it improves employee performance in firms and aids the organization in understanding the areas where employees are deficient. Furthermore, by delivering predictive analytics to businesses, augmented intelligence is the most effective approach to use and prioritize a big collection of security data.
In the near years, augmented intelligence will be described as the collaboration between a computer and a human to produce effective and efficient results. For example, AI will play a critical role in banks and financial institutions, since this human-machine pairing will enable them to process business intelligence and improve employee-customer contact. In the same way, the healthcare business needs more operational efficiency when interacting with patients, and augmented intelligence will allow them to expand their usual settings.
Businesses are increasingly using sophisticated analytics, smart contracts, machine intelligence, and the internet of things.
Increasing usage of digital media in order to satisfy client expectations.
Difficulties in applying augmented intelligence technologies, for example.
enhanced intelligence professionals are in short supply.
The usage of augmented intelligence solutions by large corporations is on the rise.
An increase in the quantity and variety of data inside an automated system.
IMPACT OF COVID-19:
Digital infrastructure is critical in visualizing and simulating outbreaks in the COVID-19 situation. As the pandemic continues to spread over the world, businesses must seek out new solutions in order to stay ahead of the competition. This circumstance is viewed as a profitable opportunity by businesses. They're concentrating on day-to-day operations rather than investing in the digital business and long-term sustainability. Furthermore, in the current scenario, the enhanced corporate capability of long-distance collective work, widespread recognition of the value of digital transformation and IT among all employees, and the ability to market products online and develop businesses have all had a significant impact on the digital market. For example, banks are concentrating on implementing cutting-edge technologies such as AI, machine learning, cloud, human-computer interface, Internet of Things, and blockchain to strengthen the digital banking and payment products/services value chain. As a result, businesses are concentrating their efforts these days on quickly integrating digital infrastructure into their automation platforms in order to gain a significant competitive advantage, which thus sets out worthwhile open doors for the expanded knowledge market to fill sooner rather than later.
Machine learning, natural language processing, machine vision, context-aware computing, and other technologies are used to segment the augmented intelligence industry. In 2021, the machine learning category had the most market share.
In 2021, the healthcare category led the market, and it is predicted to continue to do so during the forecast period. The industry is growing as more people use augmented intelligence to help them make better clinical or healthcare decisions. Growing initiatives in healthcare augmented intelligence by leading companies such as IBM to provide clinical decision support to some of the top medical institutions in the US, as well as increasing efforts in machine learning technologies by other leaders such as Microsoft and Google, are propelling the market forward.
The BFSI category, on the other hand, is expected to increase rapidly throughout the projection period. The market is growing due to the increasing usage of augmented intelligence in financial institutions to provide a more flexible service environment to deliver enhanced customer satisfaction by decreasing operational risk and expense while also improving security and privacy.
Based on software and platform, the on-premise segment captured the largest share of the augmented intelligence market and is expected to maintain its dominance in the coming years, as on-premise software is widely used in large enterprises because it can be implemented on a company's own IT infrastructure and provides more security than cloud. However, due to a paradigm change in deployment techniques from on-premise to cloud-based models, the cloud category is predicted to increase the most. This is the primary driver of cloud-based augmented intelligence adoption among SMEs and some large corporations. In addition, major augmented intelligence suppliers have offered strategies to assist businesses in migrating from on-premise to cloud-based augmented intelligence models, fueling the segment's development.
KEY MARKET SEGMENTS:
On The Basis of Component:
On The Basis of Technology:
Natural Language Processing
On The Basis of Organization Size:
Small & Medium Organization
On The Basis of Industry Vertical:
IT & Telecom
Retail & E-Commerce
Over the projection period of 2022 to 2028, North America is likely to maintain its dominance in the worldwide augmented intelligence market. Improvements in the regional economy, as well as increased penetration of solutions in the global augmented intelligence market in numerous new and emerging sectors in the area, are key drivers supporting this trend. Furthermore, the increasing number of cloud augmented intelligence solution providers in Canada and the United States is expected to increase sales in the global augmented intelligence market in North America throughout the forecast period. The Asia Pacific is another area predicted to have significant growth and expansion prospects in the global augmented intelligence market. The presence of small and medium-sized businesses employing solutions from the global augmented intelligence market is one of the key drivers driving this development.
Rest of Europe
Rest of Asia-Pacific
The Middle East & Africa
Rest of Middle East & Africa
Rest of Latin America
The major key players are Amazon Web Services, Inc., International Business Machines Corporation, Micron Technology, Inc., Microsoft Corporation, QlikTech International AB, Salesforce.com, Inc., Samsung, SAP SE, Sisense Inc., TIBCO Software Inc.
|Market Size in 2021||US$ 11.98 Bn|
|Market Size by 2028||US$ 65.93 Bn|
|CAGR||CAGR of 23.76% From 2022 to 2028|
|Report Scope & Coverage||Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook|
|Key Segments||• by Component (Solution, Hardware, Software Platform, On-Premise, Cloud, Services)
• by Technology (Machine Learning, Natural Language Processing, Computer Vision, Others)
• by Organization Size (Large Organization and Small & Medium Organization)
• by Industry Vertical (IT & Telecom, Retail & E-Commerce, BFSI, Healthcare, Manufacturing, Automotive, Others)
|Regional Analysis/Coverage||North America (USA, Canada, Mexico), Europe
(Germany, UK, France, Italy, Spain, Netherlands,
Rest of Europe), Asia-Pacific (Japan, South Korea,
China, India, Australia, Rest of Asia-Pacific), The
Middle East & Africa (Israel, UAE, South Africa,
Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America)
|Company Profiles||Amazon Web Services, Inc., International Business Machines Corporation, Micron Technology, Inc., Microsoft Corporation, QlikTech International AB, Salesforce.com, Inc., Samsung, SAP SE, Sisense Inc., TIBCO Software Inc.|
|Key Drivers||• Businesses are increasingly using sophisticated analytics, smart contracts, machine intelligence, and the internet of things.|
|Market Opportunities||• The usage of augmented intelligence solutions by large corporations is on the rise.
• An increase in the quantity and variety of data inside an automated system.
Frequently Asked Questions (FAQ) :
Ans:- The estimated market size for the Augmented Intelligence market for the year 2028 is USD 65.93 Bn.
Ans:- Businesses are increasingly using sophisticated analytics, smart contracts, machine intelligence, and the internet of things and Increasing usage of digital media in order to satisfy client expectations.
Ans:- The segments covered in the Augmented Intelligence market report for study are On The Basis of Component, Technology, Organization Size, Industry Vertical etc
Ans:- The major key players are Amazon Web Services, Inc., International Business Machines Corporation, Micron Technology, Inc., Microsoft Corporation, QlikTech International AB, Salesforce.com, Inc., Samsung, SAP SE, Sisense Inc., TIBCO Software Inc.
Ans:- Key Stakeholders Considered in the study are Raw material vendors, Distributors/traders/wholesalers/suppliers, Regulatory authorities, including government agencies and NGO, Importers and exporters etc
Table of Contents
1.1 Market Definition
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
4.1 COVID 19 Impact Analysis
4.2 Impact of the Ukraine- Russia war
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Augmented Intelligence Market Segmentation, by Component
8.3 Software Platform
9. Augmented Intelligence Market Segmentation, by Technology
9.1 Machine Learning
9.2 Natural Language Processing
9.3 Computer Vision
10. Augmented Intelligence Market Segmentation, by Organization Size
10.1 Large Organization
10.2 Small & Medium Organization
11. Augmented Intelligence Market Segmentation, by Industry Vertical
11.1 IT & Telecom
11.2 Retail & E-Commerce
12. Regional Analysis
12.2 North America
12.3.6 The Netherlands
12.3.7 Rest of Europe
12.4.2 South Korea
12.4.6 Rest of Asia-Pacific
12.5 The Middle East & Africa
12.5.3 South Africa
12.6 Latin America
12.6.3 Rest of Latin America
13. Company Profiles
13.1 Amazon Web Services, Inc.
13.1.2 Products/ Services Offered
13.1.3 SWOT Analysis
13.1.4 The SNS view
13.2 International Business Machines Corporation
13.3 Micron Technology, Inc.
13.4 Microsoft Corporation
13.5 QlikTech International AB
13.6 Salesforce.com, Inc.
13.8 SAP SE
13.9 Sisense Inc.
13.10 TIBCO Software Inc.
14. Competitive Landscape
14.1 Competitive Benchmarking
14.2 Market Share Analysis
14.3 Recent Developments
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