Augmented Intelligence Global Market Report 2024

The augmented intelligence market size has grown exponentially in recent years. It will grow from $21.69 billion in 2023 to $27.56 billion in 2024 at a compound annual growth rate (CAGR) of 27.1%. The observed growth in the historic period can be attributed to several factors, including the evolution of the data ecosystem, integration with existing systems, the increasing complexity of business operations, efforts to address cognitive load, and the development of industry-specific applications.

The augmented intelligence market size is expected to see exponential growth in the next few years. It will grow to $71.12 billion in 2028 at a compound annual growth rate (CAGR) of 26.7%. The anticipated growth in the forecast period can be attributed to advancements in natural language processing (NLP), the exponential growth of Internet of Things (IoT) data, enhanced personalization in user experience, increased emphasis on ethical AI practices, and the continuous learning and adaptability of augmented intelligence systems. Major trends expected in the forecast period include cross-industry collaboration, heightened digital transformation initiatives, fostering human-AI collaboration, context-aware computing, and the integration of predictive analytics and forecasting methodologies.

The anticipated surge in e-commerce demand is poised to drive the growth of the augmented intelligence market in the future. E-commerce, denoting the buying and selling of products and services online, serves as a platform conducive to the application of augmented intelligence. This integration empowers businesses to leverage AI capabilities, enhancing customer experiences, streamlining operations, and ensuring competitiveness in the dynamically evolving digital marketplace. As of November 2023, the International Trade Administration reports an anticipated growth in consumer eCommerce sales, reaching $285.6 billion by 2025. Furthermore, US ecommerce sales account for 36.3% of the UK retail sector as of January 2021, with a projected average annual growth rate of 12.6% for eCommerce revenues in the UK by 2025. Consequently, the escalating demand for e-commerce acts as a catalyst for the augmented intelligence market's expansion.

Prominent companies in the augmented intelligence market are strategically focusing on developing innovative technological solutions, including digital assistants, to fortify their market positions. A digital assistant, functioning as a software agent responsive to voice commands or user inputs, assists users in various aspects of their daily lives or work. In December 2023, Squirro AG, a Switzerland-based software company, unveiled SquirroGPT, an advanced generative AI application aimed at redefining online user engagement. Fueled by Retrieval-Augmented Generation (RAG), this digital assistant facilitates dynamic, real-time interactions with online audiences, ensuring secure and private chat interactions through advanced AI technology. SquirroGPT signifies a noteworthy advancement in the realm of digital assistants, contributing to AI-powered user engagement.

In March 2022, Microsoft Corporation, a US-based technology giant, completed the acquisition of Nuance Communications Inc. for an undisclosed sum. Through this strategic move, Microsoft aims to usher in a new era of outcomes-based AI, offering cloud-based solutions strengthened with powerful, vertically tailored AI to companies across diverse industries. Nuance Communications Inc., a US-based software company specializing in augmented intelligence, aligns with Microsoft's vision for advancing AI technologies.

Major companies operating in the augmented intelligence market report are Google, Microsoft Corporation, Facebook, Amazon Web Services Inc, International Business Machines Corporation, Oracle, SAP SE, NVIDIA, Salesforce Inc., Clarifai, OpenAI, TIBCO, MicroStrategy Inc., DeepMind, ThoughtSpot Inc., SS&C Blue Prism, DataRobot, AlphaSense, Builder.ai, Sisense Inc., Accubits, GoodData Corporation, Transmetrics, People.ai, Synthesia, Charles River Analytics, CognitiveScale, BenevolentAI SA, Altoida AG, Virtualitics.

North America was the largest region in the augmented intelligence market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the augmented intelligence market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the augmented intelligence market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The augmented intelligence market includes revenues earned by entities by providing services such as virtual customer service assistance, deployment and integration, support and maintenance, and identifying cybersecurity breaches. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The augmented intelligence market consists of sales of central processing units (CPUs), graphics processing units (GPUs), and tensor processing units (TPUs). Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

Augmented intelligence pertains to the utilization of artificial intelligence (AI) technologies to aid humans in enhancing their decision-making capabilities and cognitive performance. The essence of augmented intelligence lies in synergizing the strengths of both humans and machines, employing machine learning and deep learning to analyze data and provide valuable insights to human users.

The main components constituting the augmented intelligence market are solutions and services. Solutions refer to a homogeneous mixture of one or more solutes dissolved in a solvent. Various technologies, including machine learning, natural language processing, and computer vision, are employed. This is applicable across various enterprise sizes, encompassing both large enterprises and small & medium enterprises. The industrial verticals involved in augmented intelligence span IT & telecom, retail & e-commerce, banking, financial services and insurance (BFSI), healthcare, manufacturing, automotive, and others.

The augmented intelligence, market research report is one of a series of new reports that provides augmented intelligence, market statistics, including augmented intelligence, industry global market size, regional shares, competitors with augmented intelligence, market share, detailed augmented intelligence, market segments, market trends, and opportunities, and any further data you may need to thrive in the augmented intelligence, industry. This augmented intelligence, market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


This product will be delivered within 3-5 business days.