The Global Artificial Intelligence is estimated to reach $43.2 Billion by 2024; growing at a CAGR of 59.8% from 2016 to 2024. Advent of new technologies, reduced size and increased speed has shown a new era to the computer world. Due to this fact artificial intelligence (AI) has come into existent which can behave like a human mind. Their increasing application across different domains such as media and advertising, healthcare, manufacturing, retail and automotive among others is boosting its market growth globally. The areas such as computer science, linguistics, mathematics, biology, psychology, and engineering are used to build an intelligent system. From speech recognition to handwriting recognition among others falls under the range of artificial intelligence.
Global Artificial Intelligence Market Size and Forecast, 2015 – 2024 (US$ Billion)
Some of the major factors driving the artificial intelligence market are rising demand for unmanned aerial vehicles, autonomous cars, civil aviation for vehicle tracking, and monitoring and auto control. However, lack of low-cost & energy-efficient hardware which limits the adoption among small and medium businesses acts as the major hindrance for the market growth. Ongoing research and development, and adoption of ITS (Intelligent tutoring systems) in the learning process are highly expected to open up new growth opportunities for the market in the coming future years.
Artificial Intelligence market is segmented into technology, end-user, and geography. By technology, the classification comprises deep learning, machine learning, natural language processing, and machine vision. The end-use segment covers healthcare, BFSI, law, retail, advertising & media, automotive and transportation, agriculture, manufacturing, and other end users.
Global Artificial Intelligence Market, by End-User
Based on geography, the 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, South Korea, and Rest of Asia- Pacific, while RoW is bifurcated into South America, Middle East, and Africa.
Global Artificial Intellifgence Market Regional Revenue % (2016 Vs 2024)
Some of the major players in the artificial intelligence market are Google Inc., IBM Corporation, Qlik Technologies Inc., MicroStrategy, Inc., Brighterion, Inc., Microsoft Corporation, IPsoft, Rocket Fuel Inc., 24/7 Customer, 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 industry, 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
Global Artificial Intelligence Market Primary Interviews by Geography