22nd October 2019 – Global Artificial Intelligence (AI) Market is anticipated to reach USD 35,870.0 million by 2025. Artificial Intelligence (AI) is the intelligence presented by machines. It is also known as “Machine Intelligence”. The factors that propel the growth of the Artificial Intelligence (AI) industry include widespread applications in agriculture, BSFI, manufacturing, etc. Also, Artificial Intelligence finds its driving force in consumer services, big data, and growing demand for intelligent virtual supporters. On the other hand, there are factors that may hamper the growth of the market including high cost. Artificial Intelligence Market is anticipated to grow at a significant CAGR of 57.2% in the upcoming period as the scope, product types, and its applications are increasing across the globe.
Artificial Intelligence industry may be explored by solution, technology, end users, and geography. The market may be explored by solution as Software (SW), Hardware (HW), and Services. The industry could be explored based on end users as Manufacturing, Healthcare, Automotive, Agriculture, Security, Retail, Fintech, Human Resources, Law, and Marketing. The “Healthcare” segment led the market in 2017 and is anticipated to maintain its dominance by 2025 owing to rising adoption of Artificial Intelligence in diagnostic care, patient care, and drug discovery. Artificial Intelligence is also used in clinical trials, advisory boards, and congress planning.
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AI Market may be analyzed by technology as Machine Vision, Machine Learning, Deep Learning, and Natural Language Processing. The “Natural language processing (NPL) technology” segment led the Artificial Intelligence (AI) industry in 2017 and is anticipated to maintain its dominance by 2025 due to high growth rates include high implementation of Natural language processing (NPL) in numerous applications like AI robots, AI-enabled, smartphones, car-infotainment system. One of the major driving factors is the implementation of Natural language processing (NPL) for enhancing consumer services in the retail segment.
APAC accounted for the major share of the Artificial Intelligence (AI) Market Size in 2016 and will continue to lead in the forecast period. The factors that could be attributed to the growth include growing acceptance of NLP technologies and deep learning in agriculture, finance, law, and marketing applications in APAC. Furthermore, the occurrence of main players in the artificial intelligence system results in the growing acceptance of these systems in APAC.
Some of the key players that fuel the growth of the AI industry comprise Life graph, Atom wise, Inc., Sense.ly, Inc., Baidu, Inc., Zebra Medical Vision, Inc., H2O ai, NVIDIA, IBM Watson Health, Enlitic, Inc., Intel Corporation, Microsoft Corporation, and Google, Inc. The leading companies are taking up partnerships, mergers and acquisitions, and joint ventures in order to boost the inorganic growth of the industry.
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