As per the latest report published by Variant Market Research, Global Artificial Intelligence is estimated to reach $43.2 Billion by 2024; growing at a CAGR of 59.8% from 2016 to 2024. Artificial intelligence (AI) is the concept and development of computer-systems able to perform tasks usually requiring human intelligence, for instance speech recognition, visual perception, decision making, and translation among languages. Arrival of new technologies, has shown a new era to the computer world. Due to this fact AI has come into existence which behaves more like a human mind. An intelligent computer or software controlled-robots think in the same manner a human being can. The areas such as computer science, mathematics, psychology, linguistics engineering, and biology are used to build an intelligent system. Their increasing application across different domains such as automotive, healthcare, manufacturing, media and advertising, retail and among others is fueling the artificial intelligence market growth globally.
The growth of global artificial intelligence market is mainly driven by factors such as rising demand for unmanned aerial vehicles, civil aviation for vehicle tracking, autonomous cars, and monitoring and auto control. Though, lack of low-cost & energy-efficient hardware which limits its adoption among small and medium businesses acts as the major hindrance for the market growth. Ongoing R&D, and acceptance of ITS (Intelligent tutoring systems) in the learning process are expected to generate numerous opportunities for the market in the given forecast timeframe.
The global artificial intelligence market is mainly segmented on the basis of technology, end use, and geography. On the basis of technology, the market is classified into deep learning, natural language processing, machine vision, and machine learning. End-user segment consists of healthcare, advertising & media, BFSI, automotive and transportation, law, retail, agriculture, manufacturing, and others.
Based on geography, global artificial intelligence market is segmented into North America, Europe, Asia Pacific, and Rest of the World (RoW). North America is further bifurcated in U.S., Canada, and Mexico whereas Europe segment consists of UK, Germany, France, Italy, and Rest of Europe. Asia-Pacific is segmented into India, China, Japan, and Rest of Asia- Pacific, while RoW is bifurcated into South America, Middle East, and Africa.
Some of the major players in the artificial intelligence market are Microsoft Corporation, Google Inc., MicroStrategy, Inc., IBM Corp., IPsoft, 24/7 Customer, Inc., Qlik Technologies Inc., Brighterion, Inc., Rocket Fuel Inc., and Next IT Corp., among others.
The key takeaways from the report
- The report will provide detailed analysis of Global Artificial Intelligence Market with respect to major segments such as technology, end-use, and geography
- The report will include the qualitative and quantitative analysis with market estimation over 2015 – 2024 and compound annual growth rate (CAGR) between 2016 and 2024
- Comprehensive analysis of market dynamics including factors and opportunities of the global Artificial Intelligence Market
- An exhaustive regional analysis of Global Artificial Intelligence Market from 2015 to 2024 has been included in the report
- Profile of the key players in the Global Artificial Intelligence Market, will be provided, which include key financials, product & services, new developments and business strategies
Scope of the Global Artificial Intelligence Market
- Deep Learning
- Machine Learning
- Natural Language Processing
- Machine Vision
- Advertising & Media
- Automotive & Transportation
- Other End-Users
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
Rest of the World
- South America
- Middle East