Blog: Artificial Intelligence (AI) Market
Artificial Intelligence (AI) Market is the inevitable revolutionary in the future technological landscape. With 397 deals and $2,388 million in funding, the year 2015 witnessed a new high in terms of deals and dollars related to artificial intelligence ventures vis-à-vis 67 deals and $282 million in 2011. Assuming enterprise value/sales multiples of 10–15x, which is on par with other emerging fast-growing industries within the tech sector, AI as a standalone industry has the potential to claim a total market cap of USD 150 billion by 2020 including $80 billion for robots at a CAGR of 23%. It further can be deduced that these disruptive technologies will yield $12–25 trillion in the annual economic impact by the year 2024 through cost reductions and efficiency gains. Adoption of these technologies has the potential to boost productivity by 30% across many industries while trimming manufacturing labour costs by 18–33%. While AI technologies and robots will actually enhance the quality of human life and open new horizons, it also has the potential to shrink the jobs market by over 5 Million by 2020
Artificial Intelligence (AI) MarketArtificial Intelligence (AI) Market1We are in the middle of a technological revolution. Artificial Intelligence (AI) Market has the potential to fundamentally transform the world around us — the way we communicate, work and conduct our daily lives. Artificial intelligence encompasses deep learning, computer vision, robotics, collaborative systems, machine learning and natural learning process among other things. Today, for example, when you upload photographs on Facebook, it can recognize faces and suggest tags with nearly 98% accuracy or take Spotify, which offers personalized playlists curated on your music preference. From basic domestic chores to facilitating and impacting national-level election campaigns AI has imprinted its footprints on each and every human activity.
The Artificial Intelligence (AI) Market is segmented by Offering, Technology, End-user Industry and Regions. Artificial Intelligence is gaining prominence due to its complex, data-driven applications such as voice and image recognition. It offers a great investment opportunity, as it can be leveraged over other technologies to overcome the challenges of high data volumes, high computing power, and improvement in data storage.
The rapid adoption of AI in end-use industries such as Advertising & Media, retail, healthcare, and automotive sector is expected to augment market growth over the forecast period. Organizations are making investments to incorporate artificial intelligence capabilities into their product portfolio. In November 2016, SK Telecom announced that it had signed an agreement with Intel Corporation to develop the vehicle-to-everything (V2X) technology and video recognition based on artificial intelligence.Artificial Intelligence (AI) Market2 Artificial Intelligence — Market Share
North America is expected to hold the largest share of the Artificial Intelligence (AI) Market between 2018 and 2025. North America, being technologically advanced, is a leader in the market. It is the early adopter of the latest technologies; moreover, awareness about the benefits of artificial intelligence is high in the region. In addition, the presence of prominent AI technology providers, such as IBM (US), Google (US), Microsoft (US), NVIDIA (US), Intel (US), Facebook (US), MetaMind (US), Tute Genomics (US), and AWS (US), is complementing the growth of the market in this region. The Artificial Intelligence (AI) Market in APAC is expected to grow at the highest CAGR during the forecast period. The increasing adoption of deep learning and NLP technologies in finance, agriculture, marketing, and law applications is driving the market in APAC.
Maximize Market Research has comprehensively analysed Artificial Intelligence Market. The driving forces as well as considerable restraints have been explained in depth to attain a balanced scenario. Segment wise market size and market share during the forecast years is duly addressed to portray the probable picture of this exuberant industry. The competitive landscape comprising of key innovators, service providers, market giants as well as niche players is studied and analysed extensively with respect to their strengths, weaknesses as well as value addition prospects. The report presents significant case studies along with the success stories to motivate and guide the like minds. In addition, Report displays current consolidation trends with respect to prominent mergers and acquisitions, consequent Market fragmentation, new trends and dynamics in partnerships, emerging business models. This will enable the reader to comprehend whole Artificial Intelligence Ecosystem with utmost ease and clarity.
Scope of the Report:
Artificial Intelligence (AI) Market, by Offering: Hardware, Software, Services
Artificial Intelligence (AI) Market,by Technology: Machine Learning, Natural Language Processing, Context-aware computing, Computer Vision
Artificial Intelligence (AI) Market, by End-User Industry: Healthcare, Manufacturing, Automotive, Agriculture, Social Media, Financial Services, Others
Artificial Intelligence (AI) Market, by Geography: North America, Europe, Asia Pacific, Middle East & Africa and Latin America
30 Company profile have been Analysed and benchmarked
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Maximize Market Research provides B2B and B2C research on 20,000 high growth emerging opportunities & technologies as well as threats to the companies across the Healthcare, Pharmaceuticals, Electronics & Communications, Internet of Things, Food and Beverages, Aerospace and Defense and other manufacturing sectors.