Artificial Intelligence Market, By Offering (Hardware, Software, Services), Technology (Machine Lear

Published Date: February 2020 | Report Code : IT2061569

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Artificial Intelligence Market, By Offering (Hardware, Software, Services), Technology (Machine Learning, Natural Language Processing, Context-Aware Computing, Computer Vision), End-User Industry (Healthcare, Manufacturing, Automotive, Agriculture, Retail, and Others), and By Region (North America, Western Europe, Eastern Europe, Asia Pacific, Middle East, and the Rest of the World) – Market Size & Forecasting (2017-2028)

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Report Code : IT2061569

Status : Published February 2020

The global artificial intelligence market is expected to reach USD 25.7 billion in 2018 and anticipated to grow at a CAGR of 11.5% during the forecast period. Artificial intelligence primarily is the simulation of human intelligence in machines that are programmed to decode and behave like humans and mimic their actions. The term can also be applied to any machine that exhibits traits related to a person's mind like learning and problem-solving.

Artificial Intelligence Market

Artificial Intelligence Market Statistics (2017-2028)

The factors that propel the growth of the artificial intelligence market include the significant improvements in commercial aspects of artificial intelligence advancements and deployment in dynamic artificial intelligence solutions that are propelling industry growth. Moreover, the rapid improvements in high computing power have contributed to the rising adoption of artificial intelligence and robotics in end-use industries such as healthcare, automotive, and manufacturing. Furthermore, the necessity for recognizing and scrutinizing visual content so as to realize deeper insights is predicted to spice up the uptake of artificial intelligence technologies over the forecast period.

Key Factors Impacting the Growth of Artificial Intelligence Market:

  • The integration of artificial intelligence and machine learning are expected to influence the market growth.
  • Growth in adoption of virtual reality in the end-use industries

The artificial intelligence market segmentation is based on offering, technology, end-user industry, and region.

Artificial Intelligence Market

Artificial Intelligence Market Segmentation (2017-2028)

Offering Outlook:

Based on offering, the artificial intelligence market is segmented into hardware, software, and services. The hardware segment is going to dominate the market owing to increase in demand from local vendors and growth in demand across the IT industry.

Technology Outlook

Based on technology, the artificial intelligence market is segmented into machine learning, natural language processing, context-aware computing, and computer vision. The machine learning segment is expected to dominate the market in 2018 and expected to dominate the market during the forecast period. The growth in the market is primarily due to increase in investment from the companies and the integration of artificial intelligence and machine learning in drug development and launch playbook offers new possibilities to seek out the proper subpopulation for product targeting as how to make sure a successful launch.

End-User Industry Outlook:

Based on the end-user industry, the artificial intelligence market is segmented into healthcare, manufacturing, automotive, agriculture, retail, and others. The healthcare segments are expected to dominate the market owing to increase in investment from the healthcare industries.

Regional Outlook:

Based on the region, the global artificial intelligence market has been segmented by North America, Western Europe, Eastern Europe, Asia Pacific, Middle East, & Rest of the World. North America governed the worldwide artificial intelligence AI market in terms of revenue in 2018, due to the presence of leading players within the region, strong technical adoption base, and availability of state funding. Furthermore, the rising adoption of cloud services in the US and Canada is significantly contributing to the regional market. Also, the direct investment and direct involvement of the government in terms of money are expected to further propel the growth of the artificial intelligence market during the forecast period.

In Europe, cloud-based artificial intelligence deployment is predicted to witness significant growth within the coming years due to increasing consumer demand for faster and on-demand access to data and straightforward document control. Furthermore, several private and public organizations are collecting domain-specific data that comprises issues like medical informatics, cybersecurity, marketing, national intelligence, and fraud detection. Additionally, the big data-based artificial intelligence algorithms help in analyzing such unorganized and unsupervised data by continuously improving each set of knowledge.

Artificial Intelligence Market

Artificial Intelligence Market Regional Analysis (2017-2028)

Competitive Landscape

The leading companies in the market are focused on product development as well as the acquisition in the market to enhance the market share in the global market during the forecast period. This also expected to fuel market growth in the coming years. The key leading players in the global artificial intelligence market include Intel Corporation, NVIDIA, Xilinx, Samsung, Facebook, Micron Technology, IBM Corporation, Google, Microsoft Corporation, and AWS.

This report also includes the profiles of key artificial intelligence market companies along with their SWOT analysis and market strategies. In addition, these competitive landscapes provide a detailed description of each company including future capacities, key mergers & acquisitions, financial overview, partnerships, collaborations, new product launch, new product developments, and other latest industrial developments.

Key Developments in Artificial Intelligence Market:

  • The OECD is expected to launch the OECD AI Policy Observatory on 27 February 2020, which will be the online platform to shape and share AI policies. These Principles on AI include concrete recommendations for public policy and strategy. The general scope of these principles ensures they can be applied to AI developments, worldwide.
  • In January 2020, Microsoft Corporation revealed USD 40 million initiative in the global health challenges with AI technology. The initiative is based on the providing data science experts, technology, and other resources to the partner organizations in the global market to tackle health projects.
  • In June 2019, the companies Baker Hughes and C3.ai introduced BHC3 production optimization at its annual meeting in Florence, the second artificial intelligence (AI) application developed under the BHC3 strategic relationship.
  • In October 2019, the government of Abu Dhabi introduced world’s first dedicated AI University in Masdar City with the latest state-of-the-art facilities and equipment, the university will offer both masters (two years) and PhD programmes (four years).

Artificial Intelligence MarketArtificial Intelligence Market Timeline

What Does This Report Provide?

This report provides a detailed understanding of the global artificial intelligence market from qualitative and quantitative perspectives during the forecast period. The report also provides dynamic indicators with potential impact on the market during the forecast period and an in-depth analysis of the leading companies operating in the artificial intelligence market.

Market Segmentation:

By Offering

  • Hardware
  • Software
  • Services

By Technology

  • Machine Learning
  • Natural Language Processing
  • Context-Aware Computing
  • Computer Vision

By End-User Industry

  • Healthcare
  • Manufacturing
  • Automotive
  • Agriculture
  • Retail
  • Others

By Region:

  • North America
    • By Country (US, Canada, Mexico)
    • By Offering
    • By Technology
    • By End-User Industry
  • Western Europe
    • By Country (Germany, UK, France, Italy, Spain, Rest of Western Europe)
    • By Offering
    • By Technology
    • By End-User Industry
  • Eastern Europe
    • By Country (Russia, Turkey, Rest of Eastern Europe)
    • By Offering
    • By Technology
    • By End-User Industry
  • Asia Pacific
    • By Country (China, Japan, India, South Korea, Australia, Rest of Asia Pacific)
    • By Offering
    • By Technology
    • By End-User Industry
  • Middle East
    • By Country (UAE, Saudi Arabia, Qatar, Iran, Rest of Middle East)
    • By Offering
    • By Technology
    • By End-User Industry
  • Rest of the World
    • By Region (South America, Africa)
    • By Offering
    • By Technology
    • By End-User Industry

Reasons to Buy This Report:

  • Market size estimation of the artificial intelligence market on a regional and global basis
  • Unique research Usage for market size estimation and forecast
  • Profiling of major companies operating in the artificial intelligence market with key developments
  • Broad scope to cover all the possible segments helping every stakeholder in the artificial intelligence market

Customization:

We provide customization of the study to meet specific requirements:

  • By Segment
  • By Sub-segment
  • By Region/Country

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