The Europe Augmented Intelligence Market would witness market growth of 24.5% CAGR during the forecast period (2022-2028).
The augmented intelligence market is expected to grow due to an increase in the use of advanced technologies such as big data, blockchain, artificial intelligence, and the internet of things among businesses, as well as an increase in the use of digital technology to meet customer expectations. In addition, the increased need for business intelligence products has a beneficial impact on market growth. On the other hand, a rise in large companies' adoption of augmented intelligence solutions, as well as a growth in the volume and range of data inside an automated process, is likely to provide lucrative chances for market expansion throughout the projection period.
Artificial intelligence with a twist is augmented intelligence (AI), also termed intelligence augmentation (IA), decision support, cognitive augmentation, machine augmented intelligence, and improved intelligence. While artificial intelligence is the creation of machines that work and react in the same way as humans, augmented intelligence is the use of those same machines in a different way – to help the human worker. Humans and machines working together to optimize company value by playing to their individual strengths are what augmented intelligence is all about. To put it another way, IA's main purpose is to make humans work more efficiently and effectively.
The digital revolution of our society, and in particular, the linked datafication and hyper-connectivity paradigms, are expanding our potential to improve "everything" at a faster rate. IoT and smart things, Big Data, Machine, and Deep Learning, and Augmented and Virtual Reality are some of the key enabling technologies in the digitalization of Europe. .
Physical-Digital Integration could be achieved efficiently in the next decade by adopting platforms that employ the Digital Twin interaction pattern. People are increasingly perceiving and approaching "things" in new ways, preferring digital interactions to physical ones. A digital twin is a virtual representation of a physical "thing" or "entity" that exists on the network – for instance, digital twins in cities are virtual replicas of urban networks that are used to study how to reduce risks and improve city resilience; they also execute physical-digital integration in city infrastructures.
The Germany market dominated the Europe Augmented Intelligence Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $4,317.9 million by 2028. The UK market is anticipated to grow at a CAGR of 23.4% during (2022 - 2028). Additionally, The France market would witness a CAGR of 25.4% 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 Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Global Augmented Intelligence Market Size will Hit $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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