NEW YORK, Jan. 24, 2022 /PRNewswire/ -- The "Augmented Intelligence Market by Technology and Geography - Forecast and Analysis 2022-2026" report has been added to Technavio's offering. With ISO 9001:2015 certification, Technavio is proudly partnering with more than 100 Fortune 500 companies for over 16 years. The potential growth difference for the augmented intelligence market between 2021 and 2026 is USD 45.65 billion. The report also identifies the market to witness a decelerating momentum at a CAGR of 27.49% in the forthcoming years.
To get the exact yearly growth variance and the Y-O-Y growth rate, Read our FREE Sample Report.
Key Market Dynamics:
The rise in adoption of augmented intelligence by enterprises to gain the best outcomes and governments and financial institutions investing in IoT ecosystem development are some of the key market drivers. Augmented intelligence has presented momentous potential in diverse industry sectors, such as retail, healthcare, e-commerce, finance, manufacturing, IT, and telecom. Several global enterprises have already deployed augmented intelligence systems. Admin and routine activities that take up a major amount of employee time and require a massive workforce can easily be completed using augmented intelligence technology, eradicating human error. Several businesses are utilizing augmented intelligence systems for overcoming the challenges they face in making complex decisions involving stringent security and regulatory requirements, handling employees and staff, and fast-changing customer expectations.
The shortage of augmented intelligence experts will challenge market growth. Most of the companies lack the expertise and resources that are needed to take full advantage of augmented intelligence. Machine learning and deep learning applications need access to large data sets and specialized infrastructure and processing power. Companies also need to look at the appropriate use-cases of AI/machine learning algorithm deployment before implementing it at a large scale. Furthermore, the development of augmented intelligence has created many jobs, and some institutions have courses designed to train individuals.
To learn about additional key drivers, trends, and challenges available with Technavio. Download Sample Report Sample Right Here!
Key Market Segment Analysis:
The augmented intelligence market report is segmented by technology (Machine learning, NLP, Computer vision, and Others) and geography (North America, Europe, APAC, South America, and MEA). Machine learning (ML) is a subset of augmented intelligence, which emphasizes on a computer program that has the ability to analyze data using specific algorithms. Such a program can adapt itself without human intervention, delivering the desired output depending on the analyzed data. The ML segment is anticipated to gain a substantial market share due to its competencies in spotting patterns, trends, and extracting data. ML-based intelligence systems can support through facilitating users to find information, trends, and patterns that warrant attention. But rather than substituting humans in the future, machine learning technology is leveraged in augmenting human intelligence and facilitating people to gain expertise and develop insights much faster.
North America will be the leading region with 39% of the market's growth during the forecast period. North America is one of the major regions driving the adoption of augmented intelligence technology in various industries, such as banking, e-commerce and retail, IT and telecom, and others. The need for automated machine-driven decisions is one of the major factors driving the growth of augmented intelligence. The US is one of the leading countries regarding the number of augmented intelligence-related patents filed globally. The companies in the market are developing a dedicated platform for AI and its sub-sets. For instance, in April 2020, Amazon Web Services (AWS) unveiled the general availability of Amazon Augmented Artificial Intelligence (A2I).
View our sample report for additional insights into the contribution of all the segments, and regional opportunities in the report.
Some Companies Mentioned
Augmented Intelligence Market Scope
Growth momentum & CAGR
Decelerate at a CAGR of 27.49%
Market growth 2022-2026
$ 45.65 billion
YoY growth (%)
North America, Europe, APAC, South America, and MEA
Performing market contribution
North America at 39%
Key consumer countries
US, UK, China, Japan, and India
Leading companies, competitive strategies, consumer engagement scope
Alphabet Inc., Amazon.com Inc., Baidu Inc., Facebook Inc., Intel Corp., International Business Machines Corp., Microsoft Corp., Samsung Electronics Co. Ltd., SAP SE, and SAS Institute Inc.
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for the forecast period.
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.
Key Topics Covered:
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
These press releases may also interest you