Augmented Intelligence Market Trends | Global Analysis 2027

report image

Augmented Intelligence Market Forecast to 2027 - COVID-19 Impact and Global Analysis by Technology (Machine Learning, Natural Language Processing, Context-Aware Computing, Machine Vision, and Others), Enterprise Size (Large Enterprises and SMEs), End-User (IT and Telecommunication, Retail and E-Commerce, BFSI, Healthcare, and Others), and Geography

Publication Month: Aug 2020 | Report Code: TIPRE00008793 | No. of Pages: 166 | Category: Technology, Media and Telecommunications | Status: Published

The augmented intelligence market expected to grow from US$ 8948.4 million in 2020 to US$ 74619.2 million by 2027; it is estimated to grow at a CAGR of 35.4% from 2020 to 2027.

Augmented intelligence adoption for digital intelligence is attributing to the growth of the market. Augmented intelligence, a new model of partnership between machines and humans, is evolving and focusing on the value of humans and intelligent automation functioning together. Digital workers, in the form of RPA (robotic process automation) software robots, can now concentrate on enhancing automation efforts with Machine Learning and AI to work alongside humans. In fact, digital workers' contribution is anticipated to increase by ~50% in the next two years, demonstrating a real transition to a future developed on human-machine collaboration. It is also projected that substantial investment in augmented intelligence technologies for delivering digital intelligence to boom in the coming days, as business leaders increasingly realize the advantages of investing in intelligent automation. Several organizations are deploying technology related to digitizing, automating, and optimizing document workflows to reduce their cost expenditure. Deloitte has observed augmented intelligence ramping up in several enterprises and reported that ~37% of companies have already invested more than US$ 5 million in the digital transformation. The company anticipates that this investment is projected to continue in the next few years.

Impact of COVID-19 Pandemic on Augmented Intelligence Market

In the COVID-19 crisis, digital infrastructure plays a significant role in visualizing and modeling outbreaks. As the outbreak is continuing to spread across the globe, it has become imperative for enterprises to look for innovative solutions to stay ahead of the competition. Enterprises view this situation as a lucrative opportunity. They are focusing on daily operational requirements at the expense of investing in the digital business and long-term resilience. Moreover, the enhanced corporate capability of long-distance collective work, extensive recognition of the value of digital transformation and IT among all workforce, and the capability to market products online and develop business have built a significant impact on the digital market in the present scenario. For instance, in order to improve the digital banking and payment products/services value chain, banks are focusing on adopting leading-edge technologies, such as AI, machine learning, cloud, human-computer interface, Internet of Things, and blockchain. Thus, nowadays, businesses are focusing on quickly incorporating digital infrastructure within their automation platforms in order to gain a significant competitive edge, which, in turn, creates lucrative opportunities for the augmented intelligence market to grow in the near future.

Lucrative Regions in Augmented Intelligence Market


Lucrative Regions in Augmented Intelligence Market

Get more information on this report :

 

Market Insights–Augmented Intelligence Market

Development of Fully Automated Convenience Stores

Several retail innovations are demonstrating the future of the retail sector both in the offline and digital markets. For instance, a touchscreen corridor developed by the Inspiration Corridor, utilizes image recognition and purchase histories for suggesting items to the customers as well as locating these items. Moreover, SMARTCART, developed by Foodstuffs, uses computer vision technology to recognize products as they are put inside the basket. The consumers can then automatically pay for the products utilizing the mobile application linked to their payment details. Further, a new startup, known as DeepMagic, utilizes digital innovations to enhance the experience of the physical stores. With the deep learning artificial intelligence, DeepMagic is facilitating retailers to make unattended physical stores which are fully automated. DeepMagic offers Qick Kiosk, a pop-up store, which is fully automated and installed with image recognition software that allows these unattended mini-stores to function securely. Convenience retailers in the US and Europe are focusing on adopting new technologies, including AI, to enhance their demand forecasting, transform supply chains, improve assortments and space planning, and delight shoppers with the superior in-store experience. Moreover, the industry experts highlight that augmented intelligence is expected to provide transformational business impact in the coming years. Thus, with new technologies such as image recognition, artificial intelligence, and augmented intelligence, the market players can further focus on investing in developing fully automated convenience stores.



Technology-Based Insights

Based on technology, the augmented intelligence market is segmented into machine learning, natural language processing, machine vision, context-aware computing, and others. The machine learning segment held the largest market share in 2019.

Strategic Insights

Report Coverage - Augmented Intelligence Market
Report CoverageDetails
Market Size Value inUS$ 8948.4 Million in 2020
Market Size Value byUS$ 74619.2 Million by 2027
Growth rateCAGR of 35.4% from 2020-2027
Forecast Period2020-2027
Base Year2020
No. of Pages166
No. of Tables88
No. of Charts & Figures83
Historical data availableYes
Segments coveredTechnology , Enterprise Size , End-User , and Geography
Regional scopeNorth America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country scopeUS, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina
Report coverageRevenue forecast, company ranking, competitive landscape, growth factors, and trends
Free Sample Copy Available

Players operating in the augmented intelligence market are mainly focused on the development of advanced and efficient products.

  • In 2020, IBM announced the launch of Watson Advertising Social Targeting with Influential, a new solution that harnesses artificial intelligence (AI) to help brands identify influencers that best align with their brand values. The new solution within the Watson Advertising suite of targeting products marks an expanded collaboration with Influential.
  • In 2020, SAP partnered are highly specialized in delivering industry-specific solutions to the market. Vistex is one such partner – the kind of partner that will play a key role in the new industry cloud solutions from SAP and partners.

The augmented intelligence market has been segmented as follows:

Augmented Intelligence Market – by Technology

  • Machine Learning
  • Natural Language Processing
  • Context-Aware Computing
  • Machine Vision
  • Others

Augmented Intelligence Market – by Enterprise Size

  • SMEs
  • Large Enterprises

Augmented Intelligence Market – by End-User                                      

  • IT and Telecommunication
  • Retail and E-Commerce
  • BFSI
  • Healthcare
  • Others

Augmented Intelligence Market – by Geography

  • North America

    • US
    • Canada
    • Mexico
  • Europe

    • France
    • Germany
    • Italy
    • Russia
    • U.K
    • Rest of Europe
  • Asia Pacific (APAC)

    • Japan
    • China
    • Australia
    • India
    • South Korea
    • Rest of APAC
  • Middle East and Africa (MEA)

    • Saudi Arabia
    • UAE
    • South Africa
    • Rest of MEA
  • South America (SAM)

    • Brazil
    • Argentina
    • Rest of SAM

Augmented Intelligence Market – Company Profiles

  • IBM Corporation
  • Microsoft Corporation
  • SAP SE
  • TIBCO Software Inc.
  • Sisense Inc.
  • Salesforce.com, Inc.
  • QlikTech International AB
  • MondoBrain Inc.
  • Cosmo Tech
  • CognitiveScale

Frequently Asked Questions

The Machine Learning technology led the augmented intelligence market. Machine learning (ML) is a subset of augmented intelligence, which focuses on a computer program that is capable of parsing data utilizing specific algorithms. Such a program is capable of adapting itself without human intervention, providing the desired output on the basis of analyzed data. In essence, utilizing ML techniques, a machine is trained for analyzing huge amounts of data and then learn to run specific tasks. The purpose of any analytical effort is to wisely use the information and ask the right questions so as to enhance business outcomes. Now more than ever, the decision-makers need intelligent methods of collecting information and making decisions, supporting them to extract valuable intelligence from continuously evolving information. This is where ML-based intelligence systems can support through enabling users to detect information, patterns, and trends that warrant attention.
Increase in implementation of augment analytics in business intelligence tools is one of the major factors driving the growth of the augmented intelligence market. Augmented analytics is implemented to enhance data sharing, data analytics, and business intelligence that marks the next trend of disruption in the data and analytics market. Data and analytics specialists are implementing augmented analytics with platform proficiencies into their present business models. Augmented analytics incorporates artificial intelligence elements into analytics and business intelligence process to help users develop their data, identify new insights, and effortlessly share them with everyone in the organization. Augmented analytics integrates natural language processing and artificial intelligence elements that transform the user experience across the whole business intelligence process. Moreover, data ingestion, understanding correlations in data, insight finding, and interacting with the platform have become more powerful and streamlined than their modern counterparts in a self-service paradigm. Several modern business intelligence solutions have mobile apps and some even have Amazon Alexa or chatbot integrations, which enable users to interact with the data through more than just mouse clicks.
The North America comprises of the US, Canada, and Mexico. Countries including the US and Canada are early adopters of modern technologies such as digital, IoT, AI, machine learning, augmented intelligence, and cloud computing. The technological advancements across North America have led to a highly competitive market. North America attracts several technological developments from economically robust countries. The companies in the region are continuously enhancing the overall business processes to meet customers' demand for high-quality products and services in the best possible way.

The List of Companies - Augmented Intelligence Market

  1. IBM Corporation
  2. Microsoft Corporation
  3. SAP SE
  4. TIBCO Software Inc.
  5. Sisense Inc.
  6. Salesforce.com, Inc.
  7. QlikTech International AB
  8. MondoBrain Inc.
  9. Cosmo Tech
  10. CognitiveScale
  • Highlights key business priorities in order to assist companies to realign their business strategies.
  • The key findings and recommendations highlight crucial progressive industry trends in the augmented intelligence market, thereby allowing players to develop effective long-term strategies.
  • Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
  • Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it.
  • Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect technology and solution type.
TIPRE00008793
Your data will never be shared with third parties, however, we may send you information from time to time about our products that may be of interest to you. By submitting your details, you agree to be contacted by us. You may contact us at any time to opt-out.

Get the Latest COVID-19 Analysis on this market




christmas_festive_offer

Have a Question?

Naveen will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.

Speak to Analyst
Pricing
  • $3000 $2700
  • $4550 $3640
  • $6550 $5240
  • $8550 $6840

Sample PDF showcases the content structure and the nature of the information included in the report which presents a qualitative and quantitative analysis.

    Inquire for Discount