Augmented Intelligence Market is Poised for Significant Growth, Predicted to Reach USD 96.35 Billion by 2030

The global Augmented Intelligence Market, valued at USD 16.45 billion in 2022, is anticipated to witness substantial growth, reaching an estimated USD 96.35 billion by 2030. This projection reflects a CAGR of 24.7% from 2023 to 2030. Augmented intelligence, a synergy of human intellect and cutting-edge technologies like artificial intelligence (AI) and machine learning (ML), is reshaping industries by enhancing decision-making processes.

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Augmented intelligence leverages AI algorithms and data analytics to provide valuable insights, automate tasks, and facilitate informed decision-making. Rather than replacing human intelligence, it aims to augment it, improving productivity and achieving better business outcomes.

Market Dynamics and Trends:

The augmented intelligence market is witnessing robust growth, propelled by the widespread adoption of advanced technologies, including big data, blockchain, AI, and the Internet of Things (IoT). Businesses are embracing these technologies to meet customer expectations effectively.

Notably, in August 2023, the collaboration between ChatGPT-4 and Zoonova.com resulted in the launch of advanced AI/ML analytics, revolutionizing stock and ETF analysis with features such as AI-driven calculations, pattern recognition clustering, sentiment analysis, and interactive charts.

However, challenges such as a limited number of augmented intelligence experts and issues in data collection, annotation, and model software training pose obstacles to market growth. Nevertheless, the integration of Natural Language Processing (NLP) and emotion recognition technologies creates new opportunities. In July 2022, DeepAR Studio 4.0 introduced emotion recognition-based 3D editing, pushing the boundaries of emotion recognition in augmented reality.

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Market Segmentations and Scope of the Study:

The augmented intelligence market report is segmented based on components, technology, enterprise size, industry verticals, and region. Key segments include solutions and services, machine learning, natural language processing, computer vision, large enterprises, small & medium-sized enterprises, and various industry verticals such as IT & telecom, retail & e-commerce, BFSI, healthcare, manufacturing, automotive, and others.

Geographical Analysis:

• North America dominates the augmented intelligence market, maintaining its lead during the forecast period. The region's strong IT presence, exemplified by more than 557,000 software and IT services companies in the US, drives collaboration and adoption of augmented intelligence solutions.

• Asia Pacific is expected to witness steady growth, driven by the rapid expansion of e-commerce in countries like China, India, and Japan. The Asia Pacific BFSI sector's adoption of augmented intelligence contributes to the region's market growth.

Competitive Landscape:

The augmented intelligence industry boasts key players such as Amazon Web Services Inc., International Business Machines Corporation, Microsoft Corporation, Salesforce.com Inc, SAP SE, NVIDIA Corporation, Oracle Corporation, Google Inc, and others. Strategic initiatives, such as product launches, are common among market players. Notably, in March 2023, Nextech3D.ai launched an augmented reality mobile app for live events, merging AI and AR, while in February 2023, Microsoft introduced an AI-powered version of Bing and Edge to enhance the web browsing experience.

Key Benefits:

The report provides a comprehensive analysis of the augmented intelligence market, offering quantitative insights, trends, and investment opportunities from 2023 to 2030. It includes information on key drivers, restraints, and opportunities, along with competitive analysis, SWOT analysis, and Porters Five Forces model.

Augmented Intelligence Market Key Segments:

By Component
• Solution
• Services

By Technology
• Machine Learning
• Natural Language Processing
• Computer Vision
• Others

By Enterprise Size
• Large Enterprises
• Small & Medium-Sized Enterprises

By Industry Verticals
• IT & Telecom
• Retail & E-Commerce
• BFSI
• Healthcare
• Manufacturing
• Automotive
• Others

By Region
• North America (US, Canada, Mexico)
• Europe (UK, Germany, France, Italy, Spain, Denmark, Netherlands, Finland, Sweden, Norway, Russia, Rest of Europe)
• Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia, Singapore, Taiwan, Thailand, Rest of Asia-Pacific)
• RoW (Latin America, Middle East, Africa)

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