The global artificial intelligence market was USD 6.2 billion in 2017, and is expected to reach USD 153.4 billion by 2025, growing at a CAGR of 49.6% during 2018–2025.
Factors such as increase in adoption of artificial intelligence solutions across a broad range of industries, rise in demand for analysing and interpreting large amount of data as well as development and acceptance of technologically advanced artificial intelligence solutions for upgrading consumer services. The above stated reasons are likely to positively impact the market in the coming years.
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Deep learning is expected to dominate the AI market during the forecast period
Deep learning segment captured the largest share in artificial intelligence market globally due to it’s increased usage across various industries, such as BFSI, automotive as well as media & advertising. Besides that, surging demand for technologically advanced deep learning hardware as well as cloud based technology has further spurred growth of the segment. Moreover, complex data driven applications including image recognition, signal recognition and data mining of deep learning technology is anticipated to positively affect the market growth.
AI market is witnessing the significant growth in the media & advertising industry followed by healthcare industry
Media & advertising segment held the largest share in the indicated year and is predicted to grow at a substantial rate during the forecast period owing to rising usage of artificial intelligence solutions in various applications, such as ad targeting, content creation, fraud prevention, predictive customer service, consumer product recommendation, sales forecasting and web/app personalization. Also, significant investments by industries, such as banking, retail, healthcare and manufacturing in artificial intelligence systems are expected to lay down the best path for the market to grow.
Presence of leading technology developers and early technology adoption are few factors which are driving the North America AI market
Increase applications in end-use verticals, majorly in media & advertising, automotive & transportation, healthcare, BFSI, retail coupled with high government funding are some of the key factors that fuel the market growth in North America during the forecast period. Increased adoption rate of artificial intelligence systems by large conglomerates, especially in the United States has contributed to the market growth in the region. Europe and Asia-Pacific are other key significant regions in artificial intelligence market across the globe.
Additionally, the report has also covered profiles of the major companies active in the field, including Google Inc., IBM Corporation, Microsoft Corporation, Nvidia Corporation, Intel Corporation, Baidu Inc., Apple Inc., Facebook, Atomwise Inc., Sentient Technologies Holdings Limited
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The research report “global artificial intelligence market” provides in-depth analysis of global artificial intelligence market based on solution, technology, end-use and major geographies from the period 2018 to 2025. The report highlights the major market drivers pushing the growth and challenges faced by market participants. The research report provides market size and forecast for artificial intelligence market. Further, the report also analyses the competitive landscape and the major players and their market share in 2018. The competitive landscape section of the report also captures and states the recent development in the market.
Key questions answered in this research report:
1. At what pace is the AI market growing worldwide? What will be the growth trend in future?
2. What are the key drivers and restraints in the current market? What will be the impact of drivers and restraints in the coming years?
3. What are the regional revenue and forecast breakdowns? Which are the major regional revenue pockets for growth in the global AI market?
4. What are the various application areas and how they are poised to grow?
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