Augmented Intelligence Market Size, Trends & Analysis - Forecasts to 2025 By Techniques (Machine Learning, Natural Language Processing, Spatial Navigation, Machine Vision, logical reasoning, Others); By Deployment Model (Cloud, On Premise); By Organization Size (Small & Medium Enterprises, Large Enterprises); By Application (IT & Telecommunication, Retail & Marketing, BFSI, Healthcare, Energy & Utilities, Manufacturing, Others); By Region (North America, Europe, Asia Pacific, Central & South America, and Middle East & Africa); Vendor Landscape, and Company Market Share & Competitor Analysis - Global Market Estimates
Augmented Intelligence Market Insights
The global augmented intelligence market is likely to grow at a significant CAGR over the forecast period. The increasing demand for analyzing huge volumes of unstructured data among the organizations is anticipated to stimulate the market for augmented intelligence over the forecast period.
Artificial Intelligence plays an important role in streamlining company’s performance; however, there exists a demand for the human element which would further complement the growth of an organization. Augmented Intelligence works with and amplifies human intelligence by enabling the decision makers to gauge, manage & prevent the occurrence of any critical issues in the future.
The market growth is expected to be influenced by increasing R&D investments by the large players to adopt augmented intelligence solutions. Moreover, companies are projected to indulge in mergers and acquisitions to make the most use of technology in favor of their organization.
Augmented Intelligence Market: Organization Size/ Deployment Model
By organization size, the global augmented intelligence market is divided into small & medium enterprises and large enterprises. Augmented intelligence solutions have been largely deployed by both large and small & medium enterprises to augment the performance of their employees rather than replacing them. Small & Medium Enterprises are anticipated to grow at a significant rate over the coming years. Large Enterprises segment accounted for the majority share in 2016.
The global augmented Intelligence market is segmented into cloud and on-premises, based on deployment. Cloud-based solutions are likely to register highest growth rate over the coming years due to recent development in cloud computing and data storage facilities, such as integrated cloud storage facilities.
Augmented Intelligence Market: Technology Insights
On the basis of technology, the global augmented intelligence market is classified into machine learning, natural language processing, spatial navigation, machine vision, and logical reasoning among others. Natural Language Processing is the most commonly utilized technology attributing to its ability to process natural language interactions. Natural language processing technology segment is likely to be followed by machine learning and machine vision segments.
Augmented Intelligence Market: Application Insights
The global augmented intelligence market is segregated into IT & telecommunication, retail & marketing, BFSI, healthcare, energy & utilities, and manufacturing among others. The adoption of augmented intelligence solution is phenomenal in the healthcare domain. The segment growth is mainly attributed to its increased application in medical imaging.
The BFSI segment is also expected to exhibit a decent growth over the forecast period. The growth is likely to be influenced by the availability of large amounts of unstructured data available in the financial industry. The incorporation of NLP is projected to make processes much faster and accurate for employees, thereby stimulating the market growth.
Augmented Intelligence Market: Regional Insights
North America held the largest share of the augmented intelligence market in 2016 due to the presence of several small, Medium, and large enterprises across the region. Factors such as rapid adoption of integrated cloud platform and the emergence of new business models which require human efforts and analytical skills are likely to boost the market growth. Favorable mandates in countries such as the U.S. and Canada are also likely to stimulate the market for augmented intelligence. Asia Pacific is likely to experience highest CAGR over the projected period due to the development of IT infrastructure and manufacturing sector.
Augmented Intelligence Market: End-Use Landscape
The end-use landscape entails a list of current and prospective consumers prevailing across the regions. This section provides company addresses, contact details, products, and regional presence of companies who are purchasing or are likely to purchase augmented intelligence over the coming years. Some leading consumers of augmented intelligence market are Medtronic, Duke Energy, and McKesson among others.
Augmented Intelligence Market: Vendor Landscape
The report contains a chapter dedicated to vendors operating in the market, covering raw material manufactures, equipment developers, manufacturers, and distributors. The report provides these insights on a regional level. This section of the report entails contact details, experience, products manufactured/supplied, and geographical presence of companies.
Augmented Intelligence Market Share & Competitor Analysis
Some of the players operating in the global augmented intelligence market include IBM Corporation, CognitiveScale, Google Inc., Microsoft Corporation, Callidus Software Inc. (SAP), MondoBrain Inc., Sisense, Cosmo Tech, Qlik, and Quartic.ai among others.
Please note: This is not an exhaustive list of companies profiled in the report.
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The global Augmented Intelligence Market has been studied from the year 2016 till 2025. However, the CAGR provided in the report is from the year 2017 to 2025. The research methodology involved three stages: Desk research, Primary research, and Analysis & Output from the entire research process.
The desk research involved a robust background study which meant referring to paid and unpaid databases to understand the market dynamics; mapping contracts from press releases; identifying the key players in the market, studying their product portfolio, competition level, annual reports/SEC filings & investor presentations; and learning the demand and supply side analysis for the Augmented Intelligence Market.
The primary research activity included telephonic conversations with more than 50 tier 1 industry consultants, distributors, and end-use product manufacturers.
Finally, based on the above thorough research process, an in-depth analysis was carried out considering the following aspects: market attractiveness, current & future market trends, market share analysis, SWOT analysis of the company and customer analytics.
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