Market Snapshot The global augmented intelligence market is estimated to secure USD 121 Bn, expanding at a CAGR of 26% during the forecast period. Increasing usage of advanced technologies such as blockchain, big data, artificial intelligence, and Io among businesses is anticipated to be the key factor developing the market in the forecast period. Besides, the increasing demand for business intelligence tools is another factor propelling the industry. Moreover, ongoing advancements by the established players to adopt augmented intelligence solutions and the growing volume and variety of data within an automated process are projected to offer significant opportunities for expansion in the market. On the contrary, challenges associated with the implementation of augmented intelligence are likely to hinder market growth. The lack of augmented intelligence expertise is expected to hamper industry growth. Organizations also have to take care of the appropriate usage of AI/ machine learning algorithm deployment for implementing it at a wide scale. However, augmented intelligence has offered various jobs, and institutions also offer courses to impart expertise to individuals. Such factors are expected to counter the negative aspects and significantly boost the market in the forecast period.
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Based on the software platform, the on-premises segment is expected to garner the largest market share during the forecast period. However, the cloud segment is predicted to witness the highest growth due to the growing shift in deployment methods from on-premises to cloudbased models. Also, leading market vendors of augmented intelligence have offered various strategies to aid enterprises in moving their on-premises augmented intelligence to cloud-based models, which is anticipated to propel segmental growth further. The on-premises segment is expected to retain its dominance in the coming time as on-premises software is considered helpful in large enterprises since the software can be implemented on the IT infrastructure of a company and offers better security compared to the cloud. The market can be classified into large enterprises and SMEs based on enterprise size. The large enterprise segment is anticipated to garner a larger market share during the forecast period. The segment's growth can be attributed to such established enterprises' enormous expense bearing capacity against the SMEs. The manufacturing segment is anticipated to garner maximum traction during the forecast period based on the industry vertical. The expansion can be attributed to industry 4.0 in the manufacturing sector.
Get a Full Report Summary with 250 Pages, Research Scope and TOC. Click here: https://www.researchinformatic.com/reports/augmented-intelligence-market-323 Regional Analysis As per the analysis, the market is expected to dominate North America during the forecast period. Growth of the market can be attributed to various numbers of factors such as; penetration of new