Press release
Augmented Intelligence Market: Unveiling Market Dynamics, Growth Factors, and Competitive Strategies in AI-driven Solutions
Augmented Intelligence Market
The Business Research Company presents an extensive market research report on the Augmented Intelligence Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
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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Key Market 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
Market Drivers:
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.
Learn More About The Market Report -
https://www.thebusinessresearchcompany.com/report/augmented-intelligence-global-market-report
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
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