Augmented Intelligence Market Revenue to Cross $74619.2 Million by 2027: The Insight Partners

Augmented Intelligence Market to Emerge with 35.4% of CAGR by 2027, fuelled by Adoption for Digital Intelligence

NEW YORK, UNITED STATES, February 1, 2022 /EINPresswire.com/ -- According to our latest market study on “Augmented Intelligence Market Forecast to 2027 - COVID-19 Impact and Global Analysis by Technology (Machine Learning, Natural Language Processing, Context-Aware Computing, Machine Vision, and Others), Enterprise Size (Large Enterprises and SMEs), End-User (IT and Telecommunication, Retail and E-Commerce, BFSI, Healthcare, and Others), and Geography,” the market was valued at US$ 7,084.4 million in 2019 and is projected to reach US$ 74,619.2 million by 2027; it is expected to grow at a CAGR of 35.4% from 2020 to 2027.

Companies adopt inorganic market strategies to expand their footprints across the world and meet the growing demand. The augmented intelligence market players mainly focus on the acquisition strategy to expand their business and maintain their brand name globally. For instance, in 2020, Coca-Cola European Partners (CCEP) signed a agreement together with IBM to boost its transformation to an open hybrid cloud environment using Red Hat OpenShift and Red Hat Enterprise Linux. The move is made to reduce its operational expenses, increase IT resiliency, and leverage analytics and Artificial Intelligence (AI) in its daily operations to bring enhanced business insights and deliver greater service to its millions of customers.

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Augmented intelligence adoption for digital intelligence is attributing to the growth of the market. Augmented intelligence, a new model of partnership between machines and humans, is evolving and focusing on the value of humans and intelligent automation functioning together. Digital workers, in the form of RPA (robotic process automation) software robots, can now concentrate on enhancing automation efforts with Machine Learning and AI to work alongside humans. In fact, digital workers' contribution is anticipated to increase by ~50% in the next two years, demonstrating a real transition to a future developed on human-machine collaboration. It is also projected that substantial investment in augmented intelligence technologies for delivering digital intelligence to boom in the coming days, as business leaders increasingly realize the advantages of investing in intelligent automation. Several organizations are deploying technology related to digitizing, automating, and optimizing document workflows to reduce their cost expenditure. Deloitte has observed augmented intelligence ramping up in several enterprises and reported that ~37% of companies have already invested more than US$ 5 million in the digital transformation. The company anticipates that this investment is projected to continue in the next few years.

Impact of COVID-19 Pandemic on Augmented Intelligence Market
In the COVID-19 crisis, digital infrastructure plays a significant role in visualizing and modeling outbreaks. As the outbreak is continuing to spread across the globe, it has become imperative for enterprises to look for innovative solutions to stay ahead of the competition. Enterprises view this situation as a lucrative opportunity. They are focusing on daily operational requirements at the expense of investing in the digital business and long-term resilience. Moreover, the enhanced corporate capability of long-distance collective work, extensive recognition of the value of digital transformation and IT among all workforce, and the capability to market products online and develop business have built a significant impact on the digital market in the present scenario. For instance, in order to improve the digital banking and payment products/services value chain, banks are focusing on adopting leading-edge technologies, such as AI, machine learning, cloud, human-computer interface, Internet of Things, and blockchain. Thus, nowadays, businesses are focusing on quickly incorporating digital infrastructure within their automation platforms in order to gain a significant competitive edge, which, in turn, creates lucrative opportunities for the augmented intelligence market to grow in the near future.

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Market Size Value in - US$ 8948.4 Million in 2020
Market Size Value by - US$ 74619.2 Million by 2027
Growth rate - CAGR of 35.4% from 2020-2027
Forecast Period - 2020-2027
Base Year - 2020
No. of Pages - 166
No. Tables - 88
No. of Charts & Figures - 83
Historical data available - Yes
Segments covered - Technology , Enterprise Size , End-User , and Geography
Regional scope - North America; Europe; Asia Pacific; Latin America; MEA
Country scope - US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina
Report coverage - Revenue forecast, company ranking, competitive landscape, growth factors, and trends

Strategic Insights:
Players operating in the augmented intelligence market are mainly focused on the development of advanced and efficient products.

-In 2020, IBM announced the launch of Watson Advertising Social Targeting with Influential, a new solution that harnesses artificial intelligence (AI) to help brands identify influencers that best align with their brand values. The new solution within the Watson Advertising suite of targeting products marks an expanded collaboration with Influential.

- In 2020, SAP partnered are highly specialized in delivering industry-specific solutions to the market. Vistex is one such partner – the kind of partner that will play a key role in the new industry cloud solutions from SAP and partners.

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