Market Highlights
Theaugmented intelligence market2020 is by all accounts on a relentless direction as it can almost certainly record an astonishing CAGR of 35.8% somewhere in the range of 2019 and 2025 (assessment period), says Market Research Future (MRFR). We will furnish COVID-19 effect examination with the report, alongside the key improvements that happened following the Covid sickness episode.
Top Drivers and Key Restraints
Augmented intelligence/AI in the medical services industry is presently generally viewed as a basic methodology that assists with the identification of different illnesses and furthermore arrive at exact clinical finding. The most recent COVID-19 flare-up has supported the requirement for AI for foreseeing flare-ups. While master wellbeing authorities are exceptionally significant parts of medical services, AI is dynamically being carried out to incorporate the continually changing data to help the wellbeing specialists in arriving at difficult choices. Since the coming of SARS-CoV-2, gathering news media, online entertainment, wellbeing reports, and divergent data has become very overwhelming, which requires the utilization of augmented intelligence.
Starting from the start of the novel Covid, AI has been widely utilized in treatment records to work with better treatment regimens and furthermore effectively embrace compelling methodologies in the medical care industry. Since the lockdown forced across nations by the public authority, AI has helped in quick recognition of control inside a couple of areas continuously and in a precise way. Subsequently, the AI-based strategies are progressively being taken on to identify epidemiologic dangers rapidly to work on the avoidance, recognition and forecast of unforeseen overall wellbeing chances.
The augmented intelligence market development appears to be encouraging as the need to investigate huge unstructured information volumes among endeavors has risen impressively throughout the long term. Plus, the rising spending on RD by eminent merchants and the high take on pace of augmented intelligence arrangements among these sellers can likewise help the business development. Acquisitions and consolidations appear to be the most favored development techniques that are being taken on by a larger number of people of the players, which can help the market out. Different specialists across the globe are meeting up in the battle against the pandemic, by utilizing augmented intelligence's high level capacities.
In July 2020, HAI/ Human-Centered Artificial Intelligence came together with UNESCO as well as the Patrick J. McGovern Foundation to create CAIAC/Collective and Augmented Intelligence Against COVID-19. An advisory group is expected to be established, which will cater to the experts from global organizations, such as UN Global Pulse, UNESCO, and various UN entities. CAIAC will focus on the rapidly growing collection of global social, economic and health data related to the COVID-19 impact so that that the decision-makers are able to confidently decide on their next action.
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Segmentation:
The augmented intelligence industry has been extensively covered in the MRFR report, while considering the key segments such as offering, technology and end-use industry.
Depending on offering, the key market segments can be hardware, services and software. The hardware types are memory, network and processors, while the software types in the report are AI platforms as well as AI solutions. The services-based categories are support maintenance along with deployment integration.
Technology-wise market sections are natural language processing, machine learning, computer vision and context-aware computing. In the years ahead, it is expected that natural language processing can be the leading segment as it is able to analyze natural language interactions. Machine learning and machine vision can be the next leading segments in the market.
The key end-users in the industry are manufacturing, fintech, agriculture, healthcare, human resources, retail, automotive, and others. Between these, the lead can be taken by the healthcare segment while the BFSI segment can procure the second position over the appraisal period.
Regional Outlook
The augmented intelligence market can be regionally categorized as North America, Asia Pacific/APAC, Middle East Africa/MEA, South America and Europe.
North America is believed to be the biggest gainer in the coming years, with highest share in the augmented intelligence market. As the region houses a massive number of large along with small and medium enterprises, which are increasingly adopting AI, the market has the chances of becoming extremely lucrative. The rapid uptake of integrated cloud platform along with the new business models emerging in the market can also be some of the important growth inducers. The quick adoption rate of big data analytics and the escalating demand for smart virtual assistants are also bound to quicken the market growth speed in the years to come.
With the fastest CAGR, the APAC market can benefit immensely from the growing IT infrastructure and the established manufacturing sector in China and India. The rising use of profound learning along with NLP technologies in marketing, finance, law and agriculture applications could also add to the market strength in the region.
Top Market Competitors
The top market competitors profiled in the MRFR study are Sisense, Xilinx, Micron Technology, Microsoft, Cisco, Cosmo Tech, Mellanox Technologies, Facebook, Baidu, Oracle, Salesforce, SAP, General Electric, Siemens, Intel, Google, Quartic.ai, Nvidia, Samsung Electronics, Rockwell, Amazon Web Services (AWS), IBM, SAS, MondoBrain Inc., Qlik and more.
Latest News
July 2020
Deutsche Bank has partnered with Google to boost their banking operations, with the former gaining Googles machine learning (ML), data science and artificial intelligence (AI) capabilities. Augmented risk analytics and better security of customer accounts are some of the use cases that the bank expects from this partnership.
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Global Augmented Intelligence Market Research Report: By Offering (Hardware, Software and Services), Technology (Machine Learning, Natural Language Processing, and Computer Vision), End-Use Industry (Healthcare, Manufacturing, Automotive, Agriculture and others) and Region (North America, Europe, Asia Pacific, Middle East, and Africa and South America) - Forecast till 2027
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