New York, US, July 09, 2021 (GLOBE NEWSWIRE) — Market Overview:
According to a comprehensive research report by Market Research Future (MRFR), “Global Augmented Intelligence Market information by Offering, by Technology, by End-Use Industry and Region – forecast to 2027” the market size to grow at a compound annual growth rate of 35.8%.
Augmented Intelligence Market Scope:
The global augmented intelligence market is growing rapidly, witnessing rising demand from all major industries. The innovative and powerful augmented intelligence technology has enabled many scientific discoveries concerning the COVID-19 pandemic with a wide range of implications that contribute to a greater understanding of the virus and ultimately advance patient care and important policy decisions protecting global public health. With the growing uptake of augmented intelligence in industries such as government, aerospace & defense, BFSI, aviation, and retails, the market is projected to witness significant gains in the years to come.
Dominant Key Players on Augmented Intelligence Market Covered Are:
- Nvidia
- Intel
- Samsung Electronics
- Micron Technology
- Xilinx
- IBM
- Amazon Web Services (AWS)
- Microsoft
- Oracle
- Baidu
- Salesforce
- SAS
- General Electric
- SAP
- Cisco
- Siemens
- Mellanox Technologies
- Rockwell
- Sisense
- MondoBrain Inc.
- Cosmo Tech
- Quartic.ai
- Qlik
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Market USP exclusively encompassed:
Augmented Intelligence Market Drivers
Starting From Self-Driving Cars to Video Analytics Solutions, Artificial Intelligence Provides Groundbreaking Technologies
Artificial intelligence is one of the vastly trending technologies being adopted across several businesses and enterprises, providing effective, low-cost operations and high productivity. Advances in audio-video recording technologies and the rising demand for quality high-definition surveillance devices drive the market’s growth. Besides, advancements and developments of big data and technology integration in smart devices boost the augmented intelligence market size.
Further developments and advances in machine learning and natural language processing (NLP) technology create vast market opportunities. AI-enabled cameras can enhance on-premise monitoring, which another key trend is observed in the market. Increasing demand for AI-enabled solutions in airports, stadiums, malls, and office spaces to provide intelligent real-time parking insights to the operators would influence the market growth.
Augmented intelligence technology is ideal for a wide range of mission and time-critical industries, including electric utilities, O&G, medical, military & defense, and transportation. Increasing developments of augmented video analytics and AI-based surveillance systems offering personalized services to its users through an app impact the market share positively.
Browse In-depth Market Research Report (110 Pages) on Augmented Intelligence:
https://www.marketresearchfuture.com/reports/augmented-intelligence-market-8712
Segmentation of Market Covered in the Research:
The augmented intelligence market forecast is segmented into offerings, technologies, end-use industries, and regions. The offering segment is sub-segmented into hardware, software, and services. The hardware segment is further bifurcated into processors, memory, and network. The software segment is further bifurcated into AI platforms and AI solutions. The services segment is further bifurcated into deployment & integration and, support & maintenance.
The technology segment is sub-segmented into machine learning, natural language processing, context-aware computing, and computer vision. Of these, the natural language processing segment accounts for the largest market share, followed by machine learning and machine vision segments.
The end-use industry segment is sub-segmented into healthcare, manufacturing, automotive, agriculture, retail, human resources, fintech, and others. The healthcare segment is expected to grow significantly over the forecast duration, followed by the BFSI segment. The region segment is sub-segmented into Americas, Europe, Asia Pacific, and the Rest-of-the-World.
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Regional Analysis
North America dominates the global augmented intelligence market. The strong presence of key players, such as Google, Facebook, Oracle, and small, medium, and large enterprises, drives market growth. Besides, the rapid adoption of integrated cloud platforms and the emergence of new business models are major, augmented intelligence market trends. Rapid developments in IT infrastructure and manufacturing sectors influence the market size.
COVID-19 Impact on the Global Augmented Intelligence Market
The COVID 19 impacted the augmented intelligence industry positively. The demand for automation and robotics increased drastically. Automation in the medical field to fight against Covid-19 and help healthcare professionals and patients deliver food & medications, measure the vitals, and aid in maintaining social distancing, fostered the use of machine learning and other augmented intelligence technologies. Other industries like food & beverages, defense, retail, and manufacturing, also deployed robotics.
The pandemic encouraged new applications and advancements in AI technologies, which increased their adoption in industries like healthcare, food, and manufacturing. Technology giants such as Microsoft, IBM, and Google deployed AI to facilitate drug development and improve remote communication between patients & healthcare providers and other services.
Besides, the uptake of AI-powered machines in education sectors to help educators automate administrative tasks and track students’ performances by bridging the gaps in teaching techniques propelled the market value further. Also, the rising uptake of AI in manufacturing plants to detect production line problems would contribute to market growth.
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Competitive Analysis
The augmented intelligence market would witness major strategic approaches, such as collaboration, expansion, mergers & acquisitions, and advanced technology integration. Matured market players are making strategic investments in driving research and development activities and fostering their expansion plans.
For instance, on Jun 24, 2021, Palantir and DataRobot announced their partnership to bring speed and agility to demand forecasting models allowing their joint customers to create flexible AI solutions that will generate tremendous business value. Under the partnership, companies would design real-time solutions to help solve the most pressing demand forecasting problems by combining DataRobot’s augmented intelligence platform with Palantir’s capabilities.
About Market Research Future:
Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis regarding diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.
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