The Asia Pacific Augmented Intelligence Market would witness market growth of 25.7% CAGR during the forecast period (2022-2028).
The market's rise is due to the usage of augmented intelligence for digital intelligence. Augmented intelligence, a new form of machine-human collaboration, is gaining traction and concentrating on the value of humans and intelligent technology working together. RPA (robotic process automation) software robots, who are digital workers, can now focus on boosting automation efforts with Machine Learning and AI to work in collaboration with people. In fact, in the next two years, digital workers' contribution is expected to climb, suggesting a genuine transition to a future based on human-machine collaboration.
As company executives increasingly recognize the benefits of investing in intelligent automation, it is also expected that significant investment in augmented intelligence solutions for delivering digital intelligence will boom in the coming days. Several companies are using technology to digitize, automate, and optimize document workflows in order to cut costs. Augmented intelligence is becoming more prevalent in a number of businesses, with a significant number of corporations having already invested in digital transformation. This investment is expected to continue in the coming years, according to the firm.
When employing machine learning and deep learning algorithms to discover linkages and solve issues, augmented intelligence improves the function of human intellect. It's a unique take on artificial intelligence that emphasizes AI's assisting role, emphasizing the fact that cognitive technology is meant to enhance rather than replace human intelligence.
Due to the ever-increasing low and order issues, security investment in the Asia Pacific is on the rise. For enhanced digitization, traditional approaches are no longer sufficient. As a result, Augmented Intelligence vendors in this region concentrate on product-line developments. In the Augmented Intelligence market, China, Japan, and India have all shown significant development potential. The BFSI, manufacturing, telecom and IT sectors in APAC countries like India and China are growing at a significant rate and thus the demand for augmented intelligence by these industries is likely to increase in the future.
Companies in China are investing in R&D to develop augmented AI. For example, Baidu, a Chinese internet behemoth, said in April 2018 that it had reached definitive agreements with investors to sell its financial services division (FSG), which provides wealth management, consumer lending, and other commercial services. Tarrant Capital IP, and Carlyle Investment Management, LLC are the lead investors, with involvement from ABC International and Taikang Life, among others.
The China market dominated the Asia Pacific Augmented Intelligence Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $5,431.8 million by 2028. The Japan market is experiencing a CAGR of 24.8% during (2022 - 2028). Additionally, The India market would exhibit a CAGR of 26.4% during (2022 - 2028).
Based on Component, the market is segmented into Software and Services. Based on Technology, the market is segmented into Machine Learning, Natural Language Processing, Computer Vision and Others. Based on Deployment Model, the market is segmented into On-premise and Cloud. Based on Organization Size, the market is segmented into Large Enterprises and Small & Medium-sized Enterprises (SMEs). Based on Vertical, the market is segmented into BFSI, Manufacturing, Government, Telecom & IT, Consumer Goods & Retail, Healthcare & Life Sciences, Energy & Utilities, Transportation & Logistics, and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Augmented Intelligence Market is Projected to reach USD 66.8 Billion by 2028, at a CAGR of 25%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Google LLC, Amazon Web Services, Inc., IBM Corporation, SAP SE, Sisense, Inc., Microsoft Corporation, MicroStrategy, Inc., Tibco Software, Inc., Salesforce.com, Inc., and QlikTech International AB (Thoma Bravo).
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