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Augmented Intelligence Market Anticipated To Witness Robust Growth, Surpassing $90.19 Billion By 2029
The Augmented Intelligence Market Report by The Business Research Company delivers a detailed market assessment, covering size projections from 2025 to 2034. This report explores crucial market trends, major drivers and market segmentation by [key segment categories].What Is the Current Augmented Intelligence Market Size and Its Estimated Growth Rate?
The size of the market for augmented intelligence has seen a substantial increase in the past few years. The market, which is projected to be $27.56 billion in 2024, is predicted to reach $35 billion in 2025, demonstrating a compound annual growth rate (CAGR) of 27.0%. Factors contributing to this surge during the previous period include the development of the data environment, integration with current systems, the increasing complexity of business operations, dealing with cognitive load, and applications specific to certain industries.
The expansion of the augmented intelligence market is set to accelerate dramatically in the coming years, reaching a value of $90.19 billion in 2029, expanding at a compound annual growth rate (CAGR) of 26.7%. This expected upswing during the forecast period can be credited to developments in natural language processing (NLP), a surge in IoT data, intensified focus on user experience personalization, greater emphasis on ethical AI, and continuous adaptability and learning. Key trends projected for the forecast period encompass collaboration across industries, amplified digital transformation endeavors, the co-existence of humans and AI, context-sensitive computing, predictive analytics, and forecasting.
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How Are Emerging Segments Shaping the Augmented Intelligence Market Landscape?
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 And Medium Enterprises
4) By Industry Vertical: IT And Telecom, Retail And E-Commerce, BFSI, Healthcare, Manufacturing, Automotive, Other Verticals
Subsegments:
1) By Solution: Data Analytics Solutions, Cognitive Computing Solutions, Natural Language Processing (NLP) Solutions, Machine Learning Solutions
2) By Services: Consulting Services, Implementation Services, Support And Maintenance Services, Training And Education Services
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Which Growth Factors Are Influencing Augmented Intelligence Market Expansion?
The escalation of e-commerce utilization is projected to fuel the expansion of the augmented intelligence market in the future. E-commerce, the digital method of purchasing and selling goods and services, provides a fertile setting for augmented intelligence. This empowers businesses to leverage AI to enhance customer interactions, streamline tasks, and retain their competitiveness in the swift transformation of the digital marketplace. For example, data released in August 2024 by the United States Census Bureau, a government agency in the U.S., revealed that the total retail sales for 2024's second quarter were approximately $1,826.9 billion. This indicated a rise of 0.5 percent (±0.2) when compared to the initial quarter of the same year. In the corresponding timeframe, e-commerce sales elevated by 6.7 percent (±1.2) against the second quarter of 2023, whereas the total retail sales experienced a 2.1 percent (±0.4) growth. E-commerce made up 16.0 percent of the total retail sales in the 2024's second quarter. Hence, the escalating demand for e-commerce is stimulating the growth of the augmented intelligence market.
Who Are the Dominant Players Across Different Augmented Intelligence Market Segments?
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 SA, Altoida AG, Virtualitics
What Are the Latest Developing Trends in the Augmented Intelligence Market?
Firms dominating the augmented intelligence industry are concentrating on creating breakthrough technological tools, such as digital assistants, to bolster their market presence. A digital assistant is essentially a software intermediary that is capable of undertaking specific tasks based on voice directives or user inputs, thereby providing support to users in various areas of their day-to-day lives or jobs. For example, in December 2023, a novel generative AI application, SquirroGPT, was launched by a Switzerland-based software company, Squirro AG, setting a new standard for online user interaction. This digital assistant, empowered by RAG (Retrieval-Augmented Generation), is crafted to facilitate dynamic, real-time online audience engagement. It employs cutting-edge AI technology to ensure secure and confidential chat exchanges, with the goal of revolutionizing the way organizations interact with their online users. The debut of SquirroGPT constitutes a major progression in digital assistants, as well as AI-driven user involvement.
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Which Geographic Regions Are Expected to Dominate the Augmented Intelligence Market in the Coming Years?
North America was the largest region in the augmented intelligence market in 2024. 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.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Augmented Intelligence Market?
2. What is the CAGR expected in the Augmented Intelligence Market?
3. What Are the Key Innovations Transforming the Augmented Intelligence Industry?
4. Which Region Is Leading the Augmented Intelligence Market?
Why This Report Matters:
Competitive overview: This report analyzes the competitive landscape of the 3D imaging software market, evaluating key players on market share, revenue, and growth factors.
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