Global Augmented Intelligence Market By Component (Software, Hardware, and Services), By Technology, By Organization, By Vertical - Global Industry Outlook, Key Companies (Google, Microsoft, IBM and Others), Trends and Forecast 2024-2033

Augmented intelligence is a method of using AI to help people work more efficiently & intelligently, often known as intelligence amplification. It is a subsection of AI machine learning developed to improve human intelligence rather than operate independently without human help. This process uses AI tools and systems to assist with data analysis, pattern recognition, and decision support, allowing humans to perform tasks more efficiently & accurately.

The augmented intelligence market is rising as it provides advanced analytics, allowing organizations to use vast data ready for predictive insights & decision-making support. The growth of augmented intelligence is rapidly transforming many industries by improving human capabilities with advanced AI technologies. It is a form of artificial intelligence, which focuses on augmenting human decision-making rather than replacing it.

The US Augmented Intelligence Market

The US Augmented Intelligence Market is projected to achieve a market value of USD 12.8 billion in 2024, with expectations to expand to USD 91.6 billion by 2033, growing at a CAGR of 24.5%.

The US leads the North American augmented intelligence market due to rapid AI adoption in education and EdTech. AI-driven educational applications analyze student performance data to provide specific learning experiences and improve academic results.

EdTech startups and Universities in the US are leading the charge in developing & implementing AI-based educational technologies. These institutions & companies are creating advanced tools and platforms that use artificial intelligence to improve the learning experience.

Key Takeaways

• Market Growth: The global augmented intelligence market is expected to grow by USD 266.3 billion between 2025 and 2033.
• Market Definition: Augmented intelligence, improves human cognitive functions with advanced technologies like artificial intelligence and machine learning.
• Component Analysis: Based on the component, software is expected to lead the market with the largest revenue share of 47.6 % in 2024.
• Analysis According to Technology: Machine Learning is predicted to dominate the market with a large revenue share according to technology in 2024.
• Organization Analysis: Large Enterprise is expected to maintain a leading position in the global market based on organization, capturing the highest sales share in 2024.
• Vertical Analysis: IT and Telecom are expected to dominate the market in terms of vertical in 2024 with a large share revenue share of 24.1% in 2024.
• Regional Analysis: North America is expected to dominate the global augmented intelligence market with a revenue share of 38.5 % in 2024.

Use Cases

• Healthcare Diagnostics: Augmented Intelligence tools assist radiologists by analyzing medical images, such as X-rays and MRIs, to identify anomalies and suggest potential diagnoses.
• Customer Service: AI chatbots are capable of handling a wide range of customer queries, providing instant responses, and resolving common issues without human intervention. It analyzes customer interactions to gauge sentiment, allowing businesses to respond more effectively to customer feedback and improve service quality.
• Retail and E-commerce: Augmented Intelligence is used in retail and e-commerce for personalized marketing and inventory management. It analyzes customer behavior and preferences to create personalized shopping experiences and optimize inventory levels
• Financial Services: Financial advisors use augmented intelligence to provide personalized investment advice. AI-driven insights analyze vast amounts of financial data and market trends, helping advisors make more informed decisions and offer tailored recommendations to clients.

Market Dynamic

Drivers

Increasing Demand for Advanced Analytics
Market dynamics of the augmented intelligence market are influenced by the demand for real-time data processing for instant decision-making in dynamic settings. AI systems can analyze and interpret streaming data from sources like social media, IoT devices, and financial markets, delivering immediate insights and responses. They are essential in industries like retail, where real-time inventory management and customer behavior analysis can boost sales and improve the shopping experience, driving the growth of the market.

Opportunities

Enhancing Regulatory Compliance
Augmented intelligence solutions provide automation capabilities that help organizations comply with complex regulatory requirements. These solutions assist with data governance, risk assessment, and fraud detection, allowing businesses to effectively manage compliance risks. There is an increasing need for a tool that can adapt and scale to meet changing standards as regulations become more stringent and evolve. Augmented intelligence improves regulatory compliance processes and operational efficiency, driving its adoption across regulated industries.

Trends

Increasing Cloud-Based Applications
Cloud computing offers a scalable and cost-effective infrastructure for deploying AI and machine learning models, allowing organizations to utilize powerful computing resources without significant upfront investments. This accessibility encourages businesses of all sizes to incorporate augmented intelligence solutions into their operations, thus driving the growth of this market.

Restraints

Shortage of Skilled Professionals
The augmented intelligence market is restrained by the shortage of skilled professionals with expertise in these technologies. Developing and maintaining augmented intelligence systems demands specialized knowledge in machine learning, data analysis, and algorithm development, which is rare due to the lack of professionals.

Research Scope and Analysis

By Component

Software is expected to dominate the augmented Intelligence market with a revenue share of 47.6% billion in 2024, due to its critical role in enhancing analytics and business intelligence (BI) capabilities. This software automates data processing by integrating advanced AI algorithms into BI platforms. It gives actionable insights, and forecasts trends, transforming strategic decision-making processes.

Emerging tools and software like Microsoft Power BI, Tableau, and Qlik utilize AI to streamline data analysis and visualization, making complex data more accessible and usable. Software solutions offer more flexibility and can be updated or enhanced with new features more readily, unlike hardware which requires physical infrastructure and can involve significant investment. After software, hardware components are increasingly making a significant impact on the augmented intelligence market due to their crucial role in supporting and optimizing AI technologies.

Service components are expected to experience the highest growth rate due to the advancement of Industries and smart manufacturing. These industries require the need for sophisticated digital solutions that integrate IoT and AI technologies. They offer real-time monitoring and predictive maintenance within industrial settings, enabling organizations to enhance operational efficiency, minimize downtime, and boost overall productivity.

By Technology

Machine learning is expected to dominate the global augmented intelligence market with the highest revenue share in 2024, due to expanding data volume and variety. The increasing demand for user-friendly and accessible machine learning solutions is driving the creation of platforms that simplify the ML model lifecycle. It highlights a rising focus on MLOps, which fosters collaboration, reduces complexity, and speeds up the deployment of AI applications. 

The use of machine learning is increasing due to the vast amounts and variety of data, the availability and affordability of computing power, and fast internet access. It allows rapid and automatic analysis of very large and complex data sets. ML can be used for many applications like recommending products and services, detecting cybersecurity threats, and enabling self-driving cars, thereby reducing costs, managing risks, and improving overall quality of life. These technologies are increasingly used in the healthcare area due to the rising demand for wearable medical devices as they offer the real-time collection of critical data, allowing for continuous monitoring of patient health.

Natural Language Processing (NLP) is evolving rapidly, allowing AI systems to understand, interpret, and respond to human language more effectively. It transforms conversational AI, making interactions with machines more inbuilt and allowing applications like AI-driven customer support, virtual assistants, and sentiment analysis. Emerging technologies like ChatGPT and Gemini are pushing the limits of NLP, increasing its adoption across various sectors and enabling more natural and effective communication between humans and AI systems.

By Organization

Large Enterprises are expected to dominate the global augmented intelligence market with a large market share in 2024, as they invest in advanced data management and integration capabilities to support AI-driven insights and decision-making. It involves combining data from many sources into unified platforms for extensive AI system analysis. Augmented intelligence technologies like machine learning and natural language processing (NLP) extract actionable insights from vast datasets, allowing informed decision-making by a large organization. 

These technologies help improve data governance and integration frameworks to ensure data quality and consistency, which is essential for accurate AI-driven predictions and recommendations. Meanwhile, small and medium-sized enterprises are increasingly adopting AI to gain deeper customer insights and deliver personalized experiences. It involves analyzing customer data to understand preferences, predict behavior, and tailor products or services accordingly. An augmented intelligence tool assists SMEs in effectively segmenting their customer base, identifying trends, and launching targeted marketing campaigns.

By Vertical

IT and telecom are expected to dominate the global augmented intelligence market with a high revenue share of 24.1% based on vertical in 2024. This dominance is due to the increasing deployment of AI for cybersecurity threat detection and response. Also, telecom companies are using AI-powered cybersecurity solutions to improve defenses against evolving cyber threats, protect sensitive data, and ensure regulatory compliance.

AI's ability to learn and adapt to new threats improves the resilience of these sectors against evolving cyber challenges and drives the growth of the market. Moreover, the integration of AI in network optimization processes allows telecom providers to deliver faster and more reliable services, catering to the increasing demand for high-speed internet and seamless connectivity.

BFSI is expected to show notable growth due to vast amounts of data, generated from transactions, customer interactions, and market activities. It creates an ideal environment for leveraging augmented intelligence to improve decision-making, risk management, and customer service. These technologies help in fraud detection and prevention by analyzing patterns and identifying anomalies in real-time, which is important for maintaining the integrity and security of financial transactions.

The Augmented Intelligence Market Report is segmented based on the following

By Component

• Software
• Hardware
• Service

By Technology

• Machine Learning
• Natural Language Processing
• Context-Aware Computing
• Computer Vision
• Others

By Organization

• Large Enterprises
• Small and Medium-Sized Enterprises

By Vertical

• IT and Telecom
• BFSI
• Healthcare
• Manufacturing
• Automotive
• Agriculture
• Others

Regional Analysis

North America is expected to dominate the augmented intelligence market with a revenue share of 38.5% in 2024, due to emerging AI technology adoption, especially within healthcare and life sciences in this region. They invest heavily in AI-driven medical imaging, diagnostics, and personalized medicine to improve patient care outcomes. The dominance of this region is also due to its extensive ecosystem that includes a wide range of enterprises, from startups to established corporations. 

The region benefits from a strong infrastructure for innovation and research, which supports the development and adoption of augmented intelligence technologies. Major tech hubs in the U.S. and Canada, such as Silicon Valley and Toronto, serve as epicenters for research & development, driving the adoption of augmented intelligence across various industries. 

Leading players continuously innovate and develop new augmented intelligence solutions to meet the increasing demand for smarter decision-making tools. After North America, Asia-Pacific is predicted to show notable growth driven by significant advancements in IT infrastructure and a booming manufacturing sector. Favorable government policies and rising consumer demand in this region fuel economic expansion and draw global investments. These factors combine to make Asia-Pacific a major growth engine in the augmented intelligence market.

Competitive Landscape

The global augmented intelligence industry features a dense concentration of competitors, including many provincial and municipal suppliers. Major market players stand out by offering detailed solutions that incorporate edge-to-enterprise analytics, deep learning, the Industrial Internet of Things (IoT), and augmented reality (AR) into industrial operations. This dynamic and evolving environment is fueled by the quest for technological progress, customer-focused solutions, and market growth.

 
As demand for augmented intelligence rises across various sectors, competition among leading players is anticipated to escalate, driving further innovation and development in the industry. The market landscape is marked by the presence of both established technology leaders and emerging startups.

Some of the prominent players in the Global Augmented Intelligence market are:

• IBM
• Microsoft
• NVIDIA Corporation
• Oracle Corporation
• Qlik Technologies Inc.
• Salesforce.com, Inc.
• SAP SE
• SAS Institute Inc.
• Tencent Holdings Ltd.
• Cognizant Technology Solutions Corporation
• Facebook, Inc.
• Google
• Others

Recent Development

• In July 2024, IBM announced advancements in its Watson AI platform, enhancing its capabilities for natural language processing and edge analytics, aimed at improving industrial applications.
• In June 2024, Microsoft introduced new AI capabilities in its Azure cloud services, focusing on integrating augmented intelligence with the Internet of Things and edge computing.
• In November 2023, NVIDIA released a new version of its augmented intelligence software suite, featuring enhanced support for real-time data processing and machine learning model deployment.
• In March 2022, Schlumberger partnered with Dataiku to provide customers with a single, centralized platform for designing, deploying, governing, and managing AI and analytics applications, allowing everyday users to create 'low-code no-code' AI solutions.