The latest report on Intelligent Apps Market by Infinium Global Research gives complete coverage of the Intelligent Apps Market by in terms of key trends, market size, forecast and CAGR growth over the period of 2018 to 2024. In addition, the study covers deep dive into key product and applications trends in the regional markets of Intelligent Apps such as North America, Europe, Asia-Pacific and Latin America over the short run and long run.
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The Rise in the Need for Advanced Analytical Tools and Increasing Demand for Consumer Applications and Enterprise Applications Drive the Global Intelligent Apps Industry
The intelligent application is the process of using machine learning technology to create applications that use historical and real-time data to make predictions and decisions to deliver rich, adaptive, personalized experiences for users. Intelligent apps are being used in domains such as productivity, beauty, education, sales, manufacturing, and entertainment and mark the next level of development in mobility solutions. These apps implement the functionalities of cognitive computing, artificial intelligence, big data & analytics, and others. The intelligent application aims to reduce time to market for products and services and also reduce operational cost by improving efficiency and operational performance.
The rise in the need for advanced analytical tools and increasing demand for consumer applications and enterprise applications drive the global intelligent apps market. In addition, the growth of the Intelligent Apps market is strengthened by artificial intelligence and machine learning which abundantly helps in business transformation. Many e-commerce businesses are using intelligent applications for consumer applications to understand their customers and provide the enhanced user experience. They provide relevant data to the application user that needs it, at the appropriate time and with the proper context.
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Automation Through Conversations Such as Chatbots and the Conversational Interface is Increasingly Benefitting the Enterprise Applications
Moreover, automation through conversations such as chatbots and the conversational interface is increasingly benefitting the enterprise applications. For the enterprise, chatbots can help automate help desk resources by handling routine requests with immediate responses, and then notify the correct person to handle further via push notifications or alerts.
Hence, by automating complex problems through natural language processing, intelligent apps help in increasing productivity, improving response time, and help in real-time decision-making. However, the presence of a low level of awareness about products and services are curtaining market growth.
Furthermore, increasing the use of smartphones for greater business mobility, rising consumer expectations for rich contextual and personalized experience is driving the enterprise mobility, which in turn is likely to drive the intelligent apps market growth. Various search engines like Google and Bing and media service providers such as Spotify and Netflix are some of the intelligent apps users are interacting in the intelligent apps market.
As companies are charting their digital transformative initiatives, they need to add intelligent apps to their blueprint. Therefore, the companies will continue to use their legacy systems and they will increasingly find ways to leverage intelligent applications to enhance their business processes. This, in turn, is anticipated to create several growth opportunities for the key players in the intelligent Apps market. For instance, Organizations like Salesforce and Oracle are increasingly infusing AI into various enterprise applications that span sales and marketing, supply chain, HR, and other areas of business, providing them with actionable business and customer insights that enhance business results with the help of intelligent apps. Technological advancements regarding new product development and the increased market for big data and analytics are having a positive impact on market growth.
Among the geographies, North America is expected to be the largest revenue generating region owing to the use of technologies such as AI, cognitive computing, and analytics in various use cases across enterprises, customers, and government markets. The presence of several AI developers and technology solution providers that are developing smart apps for various business verticals contribute to the growth of the intelligent apps market. Moreover, Asia Pacific is anticipated to be the fastest growing region of the intelligent apps market. The growth in the Asia Pacific region is due to an increased rate of penetration of the devices. Moreover, India and aims are anticipated to observe significant growth due to the massive uptake of Internet-based devices and cloud-based applications.
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Reasons to Buy this Report:
- Comprehensive analysis of global as well as regional markets of the Intelligent Apps.
- Complete coverage of all the product type and applications segments to analyze the trends, developments, and forecast of market size up to 2024.
- Comprehensive analysis of the companies operating in this market. The company profile includes analysis of product portfolio, revenue, SWOT analysis and the latest developments of the company.
- Infinium Global Research- Growth Matrix presents an analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.