Published Date: 31-May-2022
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According to a new report, published by KBV research, The Global Augmented Intelligence Market size is expected to reach $66.8 billion by 2028, rising at a market growth of 25.0% CAGR during the forecast period.
The Services segment is showcasing a CAGR of 27.1% during (2022 - 2028). It is owing to the fact that augmented intelligence helps companies to improve their productivity. Companies of small and medium size, particularly with financial constraints, still opt for the services. As services are comparatively more cost effective and firms face less financial burden.
The Machine Learning segment acquired maximum revenue share in the Global Augmented Intelligence Market by Technology in 2021, thereby, achieving a market value of $28.3 billion by 2028. Machine learning-assisted augmented intelligence aids in the transformation of information into expertise and the extraction of important patterns from vast data sets. Patterns can be detected utilizing aggregated data, accurate unit characteristics of each occurrence, and other factors, enabling predictive models to be developed.
The Cloud segment has shown growth rate of 25.6% during (2022 - 2028). For many businesses, the increased creation of data poses a variety of issues. Storage, privacy, and cost are just a few of the issues. Cloud-based solutions are preferred by the majority of the augmented intelligence industry since they are cost-effective and scalable.
The Large Enterprises segment is leading the Global Augmented Intelligence Market by Organization Size in 2021, thereby, achieving a market value of $41.1 billion by 2028. Large organizations have a high adoption of augmented intelligence and services because they use augmented intelligence solutions for specific use cases. Because of the various and complicated nature of IT infrastructure, they are faced with the difficult issue of properly managing security. Large corporations are relying on augmented intelligence platforms that collect data from a variety of sources, such as social media feeds, sensors, and cameras. Each record must be handled in a way that preserves its relationship to other data and time sequences.
The Others segment is estimated to display highest CAGR of 26.2% during (2022 - 2028). The rising AI marketing apps with strong momentum are responsible for this high share. For example, in January 2022, Cadbury launched an initiative to allow small company owners to produce free advertisements utilizing a celebrity's face and voice via an AI tool. AI has had a good impact in the entertainment and advertising industries, and organizations are adopting AI techniques to advertise their products and interact with their client base.
The North America market dominated the Global Augmented Intelligence Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $24.9 billion by 2028. The Europe market is estimated to witness a CAGR of 24.5% during (2022 - 2028). Additionally, The Asia Pacific market would exhibit a CAGR of 25.7% during (2022 - 2028).
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of 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).
By Deployment Model
By Organization Size
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