Augmented Intelligence Market Research Report | Industry Forecast & Size USD 121.57 Billion by 2030

Use of cutting-edge technologies by enterprises, including big data, blockchains, artificial intelligence, and the internet of things driving market growth.

PORTLAND, PORTLAND, OR, UNITED STATES, March 22, 2023 /EINPresswire.com/ -- The augmented intelligence market size was estimated to be worth $11.73 billion in 2020, is expected to increase to $121.57 billion by 2030, rising at a CAGR of 26.4% between 2021 and 2030.

What is Augmented Intelligence?

While artificial intelligence and enhanced intelligence are both forms of intelligence, the former's primary objective is to replace human labor while the latter seeks to support humans in their work. Moreover, enhanced intelligence involves humans and machines cooperating to increase their strength and generate more profit.

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What are the Factors driving Augmented Intelligence Market?

• Growth in big data and machine learning: The growth of big data and machine learning technologies is driving the augmented intelligence market. Augmented intelligence combines the power of these technologies to enhance human decision-making processes.

• Increasing need for real-time insights: Businesses are increasingly seeking real-time insights from their data to make more informed decisions. Augmented intelligence enables businesses to process and analyze large amounts of data quickly, providing insights in real-time.

• Demand for automation and efficiency: There is a growing demand for automation and efficiency in business processes. Augmented intelligence can automate certain tasks and processes, reducing the time and resources required to complete them.

• Rise of personalized experiences: The rise of personalized experiences in industries such as retail, healthcare, and finance is driving the augmented intelligence market. Augmented intelligence can help businesses to personalize their products and services, creating a more engaging and satisfying experience for customers.

• Need for enhanced cybersecurity: As cyber threats become more sophisticated, there is a growing need for enhanced cybersecurity. Augmented intelligence can help businesses to detect and respond to security threats more quickly and effectively.

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What are the Key Trends in Augmented Intelligence Market?

• Integration with the Internet of Things (IoT): The integration of augmented intelligence with IoT devices is a growing trend. IoT devices generate large amounts of data that can be analyzed by augmented intelligence systems to provide real-time insights and improve decision-making.

• Use of Natural Language Processing (NLP): Natural Language Processing is being increasingly used in augmented intelligence applications to analyze and interpret human language. This technology can enable machines to understand and respond to human language, making it easier for humans to interact with augmented intelligence systems.

• Increasing use of predictive analytics: Predictive analytics is a growing trend in augmented intelligence. Predictive analytics uses machine learning algorithms to analyze data and make predictions about future outcomes, providing insights that can inform decision-making.

• Growing adoption of chatbots: Chatbots are becoming increasingly popular in customer service and support, with businesses using them to provide 24/7 support to customers. Augmented intelligence can enhance chatbots by enabling them to understand and respond to natural language, providing more personalized and effective support.

• Focus on explainable AI: Explainable AI is a growing trend in augmented intelligence. Explainable AI refers to systems that are designed to be transparent and provide insights into how they arrive at their decisions, making it easier for humans to understand and trust them.

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North America held a dominant position in the augmented intelligence market by region in 2020, and it is anticipated that it will continue to do so throughout the forecast period. The growth in demand for automated intelligence for customer behavior analytics, fraud and risk identification, and improved decision making for productivity as well as corporate innovation are the main reasons driving the North American market. However, due to the increasing acceptance of mobility, early adoption of AI-driven analytics, and rising augmented intelligence market application in business intelligence, Asia-Pacific is predicted to have considerable growth rate throughout the projection period.

The key players profiled in the augmented intelligence market analysis are Amazon Web Services, Inc., International Business Machines Corporation, Micron Technology, Inc., Microsoft Corporation, QlikTech International AB, Salesforce.com, Inc., Samsung, SAP SE, Sisense Inc. and TIBCO Software Inc. These players have adopted various strategies to increase their market penetration and strengthen their position in the augmented intelligence industry.

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