PUBLISHER: The Business Research Company | PRODUCT CODE: 1681833
PUBLISHER: The Business Research Company | PRODUCT CODE: 1681833
Augmented intelligence pertains to the utilization of artificial intelligence (AI) technologies to aid humans in enhancing their decision-making capabilities and cognitive performance. The essence of augmented intelligence lies in synergizing the strengths of both humans and machines, employing machine learning and deep learning to analyze data and provide valuable insights to human users.
The main components constituting the augmented intelligence market are solutions and services. Solutions refer to a homogeneous mixture of one or more solutes dissolved in a solvent. Various technologies, including machine learning, natural language processing, and computer vision, are employed. This is applicable across various enterprise sizes, encompassing both large enterprises and small & medium enterprises. The industrial verticals involved in augmented intelligence span IT & telecom, retail & e-commerce, banking, financial services and insurance (BFSI), healthcare, manufacturing, automotive, and others.
The augmented intelligence, market research report is one of a series of new reports from The Business Research Company that provides augmented intelligence, market statistics, including augmented intelligence, industry global market size, regional shares, competitors with augmented intelligence, market share, detailed augmented intelligence, market segments, market trends, and opportunities, and any further data you may need to thrive in the augmented intelligence, industry. This augmented intelligence, market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The augmented intelligence market size has grown exponentially in recent years. It will grow from $27.56 billion in 2024 to $35 billion in 2025 at a compound annual growth rate (CAGR) of 27.0%. The growth in the historic period can be attributed to evolving data ecosystem, integration with existing systems, rising complexity of business operations, addressing cognitive load, industry-specific applications.
The augmented intelligence market size is expected to see exponential growth in the next few years. It will grow to $90.19 billion in 2029 at a compound annual growth rate (CAGR) of 26.7%. The growth in the forecast period can be attributed to advancements in natural language processing (nlp), exponential growth of iot data, enhanced personalization in user experience, increased emphasis on ethical ai, continuous learning and adaptability. Major trends in the forecast period include cross-industry collaboration, increased digital transformation initiatives, human-ai collaboration, context-aware computing, predictive analytics and forecasting.
The increasing demand for e-commerce is anticipated to drive the expansion of the augmented intelligence market in the coming years. E-commerce involves buying and selling products and services online, providing an ideal environment for augmented intelligence applications. This allows businesses to leverage AI to enhance customer experiences, optimize operations, and maintain competitiveness in the fast-paced digital market. For example, in August 2024, according to the Quarterly Retail E-Commerce Sales report by the United States Census Bureau, a US-based government agency, total retail sales for Q2 2024 were estimated at $1,826.9 billion, showing a 0.5 percent increase (+-0.2) over Q1 2024. E-commerce sales during this period rose by 6.7 percent (+-1.2) compared to Q2 2023, while overall retail sales grew by 2.1 percent (+-0.4). E-commerce represented 16.0 percent of total retail sales in Q2 2024. Therefore, the rising demand for e-commerce is fueling the growth of the augmented intelligence market.
Prominent companies in the augmented intelligence market are strategically focusing on developing innovative technological solutions, including digital assistants, to fortify their market positions. A digital assistant, functioning as a software agent responsive to voice commands or user inputs, assists users in various aspects of their daily lives or work. In December 2023, Squirro AG, a Switzerland-based software company, unveiled SquirroGPT, an advanced generative AI application aimed at redefining online user engagement. Fueled by Retrieval-Augmented Generation (RAG), this digital assistant facilitates dynamic, real-time interactions with online audiences, ensuring secure and private chat interactions through advanced AI technology. SquirroGPT signifies a noteworthy advancement in the realm of digital assistants, contributing to AI-powered user engagement.
In March 2022, Microsoft Corporation, a US-based technology giant, completed the acquisition of Nuance Communications Inc. for an undisclosed sum. Through this strategic move, Microsoft aims to usher in a new era of outcomes-based AI, offering cloud-based solutions strengthened with powerful, vertically tailored AI to companies across diverse industries. Nuance Communications Inc., a US-based software company specializing in augmented intelligence, aligns with Microsoft's vision for advancing AI technologies.
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
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.
The countries covered in the augmented intelligence market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
The augmented intelligence market includes revenues earned by entities by providing services such as virtual customer service assistance, deployment and integration, support and maintenance, and identifying cybersecurity breaches. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The augmented intelligence market consists of sales of central processing units (CPUs), graphics processing units (GPUs), and tensor processing units (TPUs). Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Augmented Intelligence Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on augmented intelligence market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for augmented intelligence ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The augmented intelligence market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.