Augmented Intelligence Market Growth Demand And Forecast 2033

Overview and Scope

Augmented intelligence refers to the use of artificial intelligence (AI) technologies to assist humans in improving their decision-making capabilities and enhancing their cognitive performance. Augmented intelligence seeks to combine the strengths of humans and machines to work together, relying on machine learning and deep learning to analyze data and provide valuable insights to humans.

Sizing and Forecast

The augmented intelligence market size has grown exponentially in recent years. It will grow from $21.69 billion in 2023 to $27.56 billion in 2024 at a compound annual growth rate (CAGR) of 27.1%.  The growth in the historic period can be attributed to evolving data ecosystem, integration with existing systems, rising complexity of business operations, addressing cognitive load, industry-specific applications.

The augmented intelligence market size is expected to see exponential growth in the next few years. It will grow to $71.12 billion in 2028 at a compound annual growth rate (CAGR) of 26.7%.  The growth in the forecast period can be attributed to advancements in natural language processing (nlp), exponential growth of iot data, enhanced personalization in user experience, increased emphasis on ethical ai, continuous learning and adaptability. Major trends in the forecast period include cross-industry collaboration, increased digital transformation initiatives, human-ai collaboration, context-aware computing, predictive analytics and forecasting.

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Segmentation & Regional Insights

The augmented intelligence market covered in this report is segmented –

1) By Component: Solution, Services

2) By Technology: Machine Learning, Natural Language Processing, Computer Vision, Other Technologies

3) By Enterprise Size: Large Enterprises, Small & Medium Enterprises

4) By Industry Vertical: IT & Telecom, Retail & E-Commerce, BFSI, Healthcare, Manufacturing, Automotive, Other Verticals

North America was the largest region in the augmented intelligence market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the augmented intelligence market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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Major Driver Impacting Market Growth

The growing demand for e-commerce is expected to propel the growth of the augmented intelligence market going forward. E-commerce refers to a option that involves buying and selling products and services online. E-commerce provides a ground for the application of augmented intelligence, allowing businesses to harness the power of AI to improve customer experiences, optimize operations, and stay competitive in the rapidly evolving digital marketplace. For instance, in November 2023, according to the International Trade Administration, a US-based government agency, consumer eCommerce sales are expected to reach $285.60 billion by 2025, and US ecommerce sales accounts for 36.3% of the UK retail sector as of January 2021. Further, the average annual growth rate for eCommerce revenues in the UK is predicted to be 12.6% by 2025. Therefore, the growing demand for e-commerce is driving the growth of the augmented intelligence market.

Key Industry Players

Major companies operating in the augmented intelligence market report are Google, Microsoft Corporation, Facebook, Amazon Web Services Inc, International Business Machines Corporation, Oracle, SAP SE, NVIDIA, Salesforce Inc., Clarifai, OpenAI, TIBCO, MicroStrategy Inc., DeepMind, ThoughtSpot Inc., SS&C Blue Prism, DataRobot, AlphaSense, Builder.ai, Sisense Inc., Accubits, GoodData Corporation, Transmetrics, People.ai, Synthesia, Charles River Analytics, CognitiveScale, BenevolentAI SA, Altoida AG, Virtualitics

The augmented intelligence market report table of contents includes:

1. Executive Summary

2. Augmented Intelligence Market Characteristics

3. Augmented Intelligence Market Trends And Strategies

4. Augmented Intelligence Market - Macro Economic Scenario

5. Global Augmented Intelligence Market Size and Growth

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33. Global Augmented Intelligence Market Competitive Dashboard

34. Key Mergers And Acquisitions In The Augmented Intelligence Market

35. Augmented Intelligence Market Future Outlook and Potential Analysis

36. Appendix

List Of Tables:

Table 1: Global Historic Market Growth, 2018-2023, $ Billion

Table 2: Global Forecast Market Growth, 2023-2028F, 2033F, $ Billion

Table 3: Global Augmented Intelligence Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 4: Global Augmented Intelligence Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 5: Global Augmented Intelligence Market, Segmentation By Enterprise Size, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

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Table 75: Google Financial Performance

Table 76: Microsoft Corporation Financial Performance

Table 77: Facebook Financial Performance

Table 78: Amazon Web Services Inc Financial Performance

Table 79: International Business Machines Corporation Financial Performance

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