Augmented/Amplified Intelligence Tools Market is projected to rise rapidly as augmented/ amplified intelligence tools solve complex business problems, and it has the capability of effective enterprise information management.
Albany, NY -- (SBWIRE) -- 04/29/2019 -- Augmented/ amplified intelligence tools create the potential for significant operational efficiencies and competitive advantage. The tools offer scenario planning management and modeling location, historical behavior, and real-time intent. Companies are applying advanced techniques such as machine learning and predictive modeling to massive and complex data sets to help amplify intelligence for more effective decision making.
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The augmented/ amplified intelligence tools solve complex business problems, and it has the capability of effective enterprise information management. This factor drives the augmented/amplified intelligence tools market globally. The companies are focusing on perceptual computing model in order to increase the efficiency and optimum performance. This factor is expected to create significant opportunities over the forecast period. Location-based augmented intelligence tools are an emerging trend in the augmented/amplified intelligence tools market. Location-based technology tools help to gather real-time information and are widely used in decision making. As companies are expanding across different regions, location-based augmented intelligence tools collect data to uncover insights that help to target customers to increase sales, optimize supply chains, and evaluate risks. The technological advancement in telecommunication industry further helps to increase the demand for augmented/amplified intelligence tools market.
The global augmented/ amplified intelligence tools market can be segmented based on technology type, enterprise size, industry vertical, and region. The augmented/amplified intelligence tools market can be categorized in terms of technology type into robotic process automation (RPA), analytics, intelligent automation, computer vision, machine learning (ML), and natural language processing (NLP). Robotic process automation (RPA) technology is used to design, construct, and operate computer software to accomplish the tasks that can substitute processes currently performed by a human. In terms of enterprise size, the augmented/amplified intelligence tools market can be segmented into small-medium enterprises (SMEs) and large enterprises. Large enterprise segment dominates the market and it is expected to continue its dominance over the forecast period. Based on industry vertical, the augmented/amplified intelligence tools market can be segmented into BFSI, IT and telecom, manufacturing, retail, government, healthcare, media and entertainment, utilities, hospitality, agriculture, real estate & construction, education, defense and aviation, consumer goods, and others (legal, etc.).
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The BFSI industry vertical can be classified into banking and non-banking. The manufacturing segment can be classified into process manufacturing and discrete manufacturing. The manufacturing industry is estimated to account for significant market share in 2019 due to rise in the workforce in the automobile industry. The market in the healthcare industry is expected to grow at a significant CAGR as it is possible to analyze billions of web links to predict the spread of a virus with the help of augmented/ amplified intelligence tools. BFSI industry vertical accounts for the significant market share owing as banking and financial service industries uses artificial intelligence technology to handle numerous activities in the bank.
Based on region, the global augmented/amplified intelligence tools market can be segmented into North America, South America, Europe, Asia Pacific, and Middle East & Africa. North America dominates the market due to the early adoption of the advanced technology. Companies in the U.S. have started to adopt amplified intelligence for competitive advantage around the world and across industries. The market in the Asia Pacific region is expected to grow at the highest rate due to rise in industrialization and increasing spending on advanced technology in countries such as China, India, Japan, and Australia.