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
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
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.
Customize Research To Suit Your Requirement
We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.
Augmented Intelligence Market: Strategic Insights
Market Size Value in US$ 8948.4 Million in 2020 Market Size Value by US$ 74619.2 Million by 2027 Growth rate CAGR of 35.4% from 2020-2027 Forecast Period 2020-2027 Base Year 2020
Naveen
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
Customize Research To Suit Your Requirement
We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.
Augmented Intelligence Market: Strategic Insights
| Market Size Value in | US$ 8948.4 Million in 2020 |
| Market Size Value by | US$ 74619.2 Million by 2027 |
| Growth rate | CAGR of 35.4% from 2020-2027 |
| Forecast Period | 2020-2027 |
| Base Year | 2020 |
Naveen
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
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
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Technology , Enterprise Size , End-User , and Geography
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States
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
- IBM Corporation
- Microsoft Corporation
- SAP SE
- TIBCO Software Inc.
- Sisense Inc.
- Salesforce.com, Inc.
- QlikTech International AB
- MondoBrain Inc.
- Cosmo Tech
- CognitiveScale
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
Trends and growth analysis reports related to Augmented Intelligence Market
Aug 2020
Virtual Reality Puzzle Games Market
Size and Forecast (2020 - 2030), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Age (18 to 34 Years, Above 35 Years, 13 to 17 Years, and Upto 12 Years), Player Type (Single Player and Multi Player), and End Users (Individuals and Professionals)
Aug 2020
Inspection Software for Government Services Market
Size and Forecast (2020 - 2030), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Component (Software and Services), Services (Implementation and Deployment, Support and Maintenance, Training, and Consulting), Deployment (Cloud and On-premises), Application (Permitting and Licensing Management, Inspection and Scheduling Management, Contract Management, and Others), and End User (Local Government, State Government, and Federal Government)
Aug 2020
Spend Analytics for Electronics and Semiconductor Market
Size and Forecasts (2020 - 2030), Global and Regional Share, Trend, and Growth Opportunity Analysis By Component (Software and Service), Type (Descriptive Analytics, Predictive Analytics, and Prescriptive Analytics), Deployment (On-premise and Cloud), and Application (Financial Management, Risk Management, Governance and Compliance Management, Supplier Sourcing and Performance Management, Demand and Supply Forecasting, and Others)
Aug 2020
Photonic Design Automation Market
Size and Forecasts (2020 - 2030), Global and Regional Share, Trends, and Growth Opportunity Analysis Report Coverage: By Component (Solution and Service), Deployment (On-Premise and Cloud), Organization Size (SMEs and Large Enterprises), and Application (Academic Research and Industrial Research & Manufacturing)
Aug 2020
Private 5G Network Market
Size and Forecasts (2020 - 2030), Global and Regional Share, Trends, and Growth Opportunity Analysis Report Coverage: By Component (Hardware, Software, and Services); Frequency (Sub-6 GHz and mmWave), End User (Manufacturing, Energy and Utilities, Automotive, Military and Defense, Government and Public Safety, and Others)
Aug 2020
Unified Threat Management Market
Size and Forecasts (2020 - 2030), Global and Regional Share, Trends, and Growth Opportunity Analysis Report Coverage: By Component (Solution and Services); Deployment (Cloud and On-Premise); Enterprise Size (Large Enterprises and SMEs); and End Users (BFSI, Manufacturing, Healthcare, Retail, Government, IT & Telecom, and Others)
Aug 2020
Staffing and Recruitment Market
Size and Forecasts (2020 - 2030), Global and Regional Share, Trends, and Growth Opportunity Analysis Report Coverage: By Staffing Type (Permanent and Temporary), Recruitment Channel (Online, Hybrid, and Offline), and End User (IT & Telecom, BFSI, Healthcare, Retail & E-Commerce, and Others)