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Artificial intelligence market set to grow according to forecasts

IT Market Research

The artificial intelligence market is expected to reach USD 190.61 billion by 2025 from USD 21.46 billion in 2018, at a CAGR of 36.62%.

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The artificial intelligence market growth can be attributed to factors such as growing big data, the increasing adoption of cloud-based applications and services, and increasing demand for intelligent virtual assistants.

The limited number of AI technology experts is restraining the market growth to a certain extent.

Complete report on Artificial intelligence Market spread across 143 pages, profiling 20 companies and supported with 92 tables and 49 figures is now available at www.rnrmarketresearch.com/artifici…arket-report.html

Software is expected to hold the largest share of the artificial intelligence market.

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Continuous developments have been witnessed in AI software and related software development kits. Also, artificial intelligence software is used in various applications, such as virtual assistants, marketing, search advertising, identity access management, intruder detection, and cyber security.

The artificial intelligence market for computer vision technology is expected to grow at the highest CAGR during the forecast period. The growing adoption of computer vision in autonomous and semiautonomous applications in various industries, such as manufacturing and automotive, is propelling the growth of this technology in the AI market.

North America is known for the high adoption of artificial intelligence. Increasing demand for intelligent virtual assistants acts as a driving force for the growth of the artificial intelligence market in the region.

The market in North America is also characterized by high infrastructure costs and strict policies and regulatory frameworks. Companies such as IBM (US), Google (US), Microsoft (US), NVIDIA (US), Intel (US), Facebook (US), and AWS (US) are complementing the growth of the market in this region.

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Breakdown of primary participant profiles:

By Company Type: Tier 1—25%, Tier 2—30%, and Tier 3—45%

By Designation: C-Level Executives—45%, Directors—35%, and Others—20%

By Region: North America—40%, Europe—30%, APAC—25%, and RoW—5%

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The key players operating in this market are Intel (US), NVIDIA (US), Xilinx (US), Samsung Electronics (South Korea), Facebook (US), Micron Technology (US), IBM (US), Google (US), Microsoft (US),and AWS (US).

Research Coverage

Various market segments have been covered in this report. These include segments such as offering, technology, end-user industry, and geography.

The report also provides a detailed overview of the market across 4 main regions—North America, Europe, APAC, and RoW.

Report benefits

This report includes statistics pertaining to the artificial intelligence market in terms of offering, technology, end-user industry, and geography, along with their respective market size.

The report details the major drivers, restraints, opportunities, and challenges pertaining to the artificial intelligence market.

The report includes illustrative segmentation, analysis, and forecast for the artificial intelligence market based on its segments and sub segments.

 

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