The Augmented Intelligence Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions - Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2024-2033).
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According to The Business Research Company’s report on the Augmented Intelligence Global Market for 2024, the market has witnessed remarkable exponential growth in recent years, soaring from $21.69 billion in 2024 to an estimated $27.56 billion, with a compound annual growth rate (CAGR) of 27.1%. This growth trajectory owes much to the evolving data ecosystem, seamless integration with existing systems, escalating complexity in business operations, and the imperative to address cognitive load, alongside the proliferation of industry-specific applications.
Projections indicate that the augmented intelligence market is poised for even more significant expansion in the forthcoming years, with anticipated revenues reaching a substantial $71.12 billion by 2028, boasting a CAGR of 26.7%. This anticipated surge is underpinned by notable advancements in natural language processing (NLP), the exponential influx of IoT data, heightened emphasis on ethical AI frameworks, and the growing trend towards continuous learning and adaptability.
The growing demand for e-commerce is expected to propel the growth of the augmented intelligence market going forward. E-commerce refers to a option that involves buying and selling products and services online. E-commerce provides a ground for the application of augmented intelligence, allowing businesses to harness the power of AI to improve customer experiences, optimize operations, and stay competitive in the rapidly evolving digital marketplace. For instance, in November 2024, according to the International Trade Administration, a US-based government agency, consumer eCommerce sales are expected to reach $285.60 billion by 2025, and US ecommerce sales accounts for 36.3% of the UK retail sector as of January 2021. Further, the average annual growth rate for eCommerce revenues in the UK is predicted to be 12.6% by 2025. Therefore, the growing demand for e-commerce is driving the growth of the augmented intelligence market.
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The augmented intelligence market covered in this report is segmented –
1) By Component: Solution, Services
2) By Technology: Machine Learning, Natural Language Processing, Computer Vision, Other Technologies
3) By Enterprise Size: Large Enterprises, Small & Medium Enterprises
4) By Industry Vertical: IT & Telecom, Retail & E-Commerce, BFSI, Healthcare, Manufacturing, Automotive, Other Verticals
Noteworthy trends anticipated in the forecast period include intensified cross-industry collaborations, heightened focus on digital transformation initiatives, fostering symbiotic relationships between human and AI entities, as well as the rise of context-aware computing, predictive analytics, and forecasting methodologies.
Leading entities within the augmented intelligence domain are strategically aligning themselves with the evolving landscape by pioneering innovative technological solutions, such as the development of digital assistants. These software agents, capable of executing tasks based on voice commands or user inputs, are revolutionizing user experiences across various domains. For example, in December 2024, Squirro AG, a Switzerland-based software innovator, unveiled SquirroGPT, a cutting-edge generative AI application poised to redefine online user engagement paradigms. Empowered by RAG (Retrieval-Augmented Generation) technology, SquirroGPT facilitates dynamic, real-time interactions with online audiences, while ensuring privacy and security. This breakthrough heralds a new era in AI-powered user engagement, offering organizations unprecedented opportunities to connect meaningfully with their online constituencies.
The augmented intelligence market report table of contents includes:
1. Executive Summary
2. Augmented Intelligence Market Characteristics
3. Augmented Intelligence Market Trends And Strategies
4. Augmented Intelligence Market - Macro Economic Scenario
5. Global Augmented Intelligence Market Size and Growth
.....
32. Global Augmented Intelligence Market Competitive Benchmarking
33. Global Augmented Intelligence Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Augmented Intelligence Market
35. Augmented Intelligence Market Future Outlook and Potential Analysis
36. Appendix
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