Augmented Intelligence Market projected to reach USD 193.3 Billion by 2032 | Transforming Decision-Making with Advanced AI Solutions | Research by SNS Insider

Augmented Intelligence Market Size Analysis:

“According to SNS Insider, the Augmented Intelligence Market Size was valued at USD 25.7 Billion in 2023 and is expected to reach USD 193.3 Billion by 2032, growing at a CAGR of 25.17% over the forecast period 2024-2032.”

Government Support and Funding Boosting Market growth

The Augmented Intelligence market has been experiencing significant growth due to AI technology and the growing need for better decision-making across industries. Increased demand can be attributed to the growing use of AI tools for analytics, which allows for real-time data processing and insights. The focus on increased efficiency and precision of operations in the healthcare, finance, and manufacturing industries also drives market growth. Another factor influencing market growth is the increased data volumes and the urge to interpret said data using ever more sophisticated methods. Additionally, public-private partnerships are playing a crucial role in driving market growth by facilitating collaborative projects that push the boundaries of AI capabilities.

Augmented intelligence market growth has been fostered by the increasing support from the government and the accompanying funding initiatives. For example, the U.S. Department of Commerce reports that as of the 2024 fiscal year, the federal funding for research and development of AI stood at USD 12.4 billion. Such funds are dedicated to improving the country’s AI capabilities by supporting innovation efforts and by developing AI tools that can be integrated into various business systems. It is evident that government-led initiatives are spurring growth by promoting an environment that is favourable to the development of technology. Additionally, public-private partnerships are playing a crucial role in driving market growth by facilitating collaborative projects that push the boundaries of AI capabilities.

Source: globenewswire