The global artificial intelligence market is expected to reach USD 35,870.0 million
by 2025 from its direct revenue sources, growing at a CAGR of 57.2% from 2017
to 2025, whereas it is expected to garner around USD 58,975.4 million by 2025
from its enabled revenue arenas, according to a new report by Grand View
Research, Inc.
Artificial Intelligence (AI) is considered
to be the next stupendous technological development, alike past developments
such as the revolution of industries, the computer era, and the emergence of
smartphone technology. The North American region is expected to dominate the
industry due to the availability of high government funding, the presence of
leading players, and strong technical base. Advances in image and voice
recognition are driving the growth of the artificial intelligence market as
improved image recognition technology is critical to offer enhanced drones,
self-driving cars, and robotics. The AI market can be categorized based on
solutions, technologies, end use, and geography.
The two major factors enabling market
growth are emerging AI technologies and growth in big data espousal. The
growing prominence of artificial intelligence is enabling new players to
venture into the market by offering niche application-specific solutions. Furthermore,
companies are also engaging in industry consolidations in a bid to gain
competitive advantages. For instance, in January 2017, Microsoft Corporation
acquired Maluuba for advancing in the deep learning and Artificial Intelligence
(AI) landscape. Existing solution providers are innovating their product
portfolio to include both hardware and software solutions.
The Asia Pacific regional market is
expected to be the fastest-growing market, owing to the rapid improvements in
information storage capacity, high computing power, and parallel processing,
which have contributed to the swift uptake of artificial intelligence
technology in end-use industries such as automotive and healthcare.
AI has the potential to reduce the burden
on clinicians and provide an efficient tool to workforces for accomplishing
their tasks in a better way. For instance, AI voice-enabled symptom checkers
can better access a situation and assist patients to the emergency department
when immediate treatment is required. AI is expected to resolve around 20% of
unmet healthcare demands.
Full research report on artificial
intelligence market analysis: http://www.grandviewresearch.com/industry-analysis/artificial-intelligence-ai-market
Further key findings from the report suggest:
·
Growth in the volume of data being
generated from different end-use industries is expected to provide traction to
the technology adoption
·
The increasing adoption of image and
pattern recognition in the Asia-Pacific region is expected to provide new
growth opportunities over the forecast period.
·
The North America region is one of the
early adopters of advanced technologies and renders organizations to adopt
artificial intelligence capabilities at a faster pace.
·
The increasing amount of digital data (in
the form of speech, videos, and images, from different social media sources
such as IoT and consumer analytics) is driving the need for data mining and
analytics. AI is extensively used by several media and online services such as
Google Assistant, dialogue and voice recognition of Siri, Microsoft Cortana,
image classification in Facebook & Google Photo, and Amazon’s Alexa.
·
The key industry participants include
Atomwise, Inc., Lifegraph, Sense.ly, Inc., Zebra Medical Vision, Inc., Baidu,
Inc., H2O ai, IBM Watson Health, NVIDIA, Enlitic, Inc., Google, Inc., Intel
Corporation, and Microsoft Corporation.
View
more reports of this category by Grand View Research at: https://www.grandviewresearch.com/industry/emerging-and-next-generation-technologies
Grand View Research has segmented the artificial intelligence market
based on solutions, technologies, end use, and regions:
Artificial Intelligence Solution Outlook
(Revenue, USD Million, 2014 - 2025)
·
Hardware (HW)
·
Software (SW)
·
Services
Artificial Intelligence Technology Outlook
(Revenue, USD Million, 2014 - 2025)
·
Deep Learning
·
Machine Learning
·
Natural Language Processing
·
Machine Vision
Artificial Intelligence End use Outlook
(Revenue, USD Million, 2014 - 2025)
·
Healthcare
o
Robot Assisted Surgery
o
Virtual Nursing Assistants
o
Hospital Workflow Management
o
Dosage Error Reduction
o
Clinical Trial Participant Identifier
o
Preliminary Diagnosis
o
Automated Image Diagnosis
·
BFSI
o
Risk Assessment
o
Financial Analysis/Research
o
Investment/Portfolio Management
o
Others
·
Law
·
Retail
·
Advertising & Media
·
Automotive & Transportation
·
Agriculture
·
Manufacturing
·
Others
Artificial Intelligence Regional Outlook
(Revenue, USD Million, 2014 - 2025)
·
North America
o
U.S.
o
Canada
o
Mexico
·
Europe
o
Germany
o
UK
·
Asia Pacific
o
China
o
India
o
Japan
·
South America
o
Brazil
·
The Middle East & Africa
Access Full Press Release of this
Report:
https://www.grandviewresearch.com/press-release/global-artificial-intelligence-ai-market
https://www.grandviewresearch.com/press-release/global-artificial-intelligence-ai-market
About Grand View Research
Grand View Research,
Inc. is a U.S. based market research and consulting company, registered in the
State of California and headquartered in San Francisco. The company provides
syndicated research reports, customized research reports, and consulting
services. To help clients make informed business decisions, we offer market
intelligence studies ensuring relevant and fact-based research across a range
of industries, from technology to chemicals, materials and healthcare.
For more information: https://www.grandviewresearch.com/
