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The artificial intelligence market dominated by natural language processing (NLP) technology growing at 62.9% CAGR to hit $16.06 billion by 2022 according to new research report

The growth of the artificial intelligence market can be attributed to the growing application of artificial intelligence in various industries and the increasing adoption of AI for improving consumer service.

“Artificial intelligence market to grow at a CAGR of 62.9%”

According to the new market research report on artificial intelligence, this market is expected to be worth USD 16.06 billion by 2022, growing at a CAGR of 62.9% from 2016 to 2022.

However, the lack of availability of low-cost and energy-efficient hardware, especially high-speed computing hardware, is hindering the growth of AI market. Complete report on "Artificial Intelligence Market" spread across 182 pages, profiling 10 companies and supported with 73 tables and 64 figures is now available at…arket-report.html .

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The companies that are profiled in the report are:

  1. IBM Corp. (U.S.)
  2. Microsoft Corp. (U.S.)
  3. Google Inc. (U.S.)
  4. Fin Genius Ltd. (U.K.)
  5. NVIDIA Corporation (U.S.)
  6. Intel Corporation (U.S.)
  7. General Vision, Inc. (U.S.)
  8. Numenta, Inc. (U.S.)
  9. Sentient Technologies (U.S.)
  10. Inbenta Technologies, Inc. (U.S.)

From an insight perspective, this research report has focused on various levels of analyses—industry analysis (industry trends), market share analysis of top players, and company profiles, emerging and high-growth segments of the airborne telemetry market, high-growth regions, and market drivers, restraints, and opportunities.

Make an Inquiry on “Artificial Intelligence Market by Technology (Deep Learning, Robotics, Digital Personal Assistant, Querying Method, Natural Language Processing, Context Aware Processing), Offering, End-User Industry, and Geography - Global Forecast to 2022” research report can be requested at…ying?rname=468962 .

 This research study is obliging for following audience:

  1. Artificial Intelligence module designers and manufacturers
  2. Research organizations and consulting companies
  3. Associations, forums, and alliances related to artificial intelligence
  4. Investors
  5. Startup companies
  6. Raw material suppliers
  7. Government and other regulatory bodies
  8. Market research and consulting firms

“Natural language processing is expected to grow at the highest rate from 2016 to 2022”

The market for natural language processing (NLP) is expected to witness fastest CAGR from 2016 to 2022. The growing adoption of NLP in various applications such as AI-powered robots, smartphones, car-infotainment systems, navigation systems, and personal assistant systems, among others is largely driving its growth.

Moreover, the deep learning technology is likely to grow at the second-highest CAGR from 2016 to 2022. The growing penetration of deep learning algorithms for myriad AI applications such as voice recognition, fraud detection, voice search, recommendation engines, sentiment analysis, image recognition, and motion detection, among others is mainly driving its market growth.

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“Artificial intelligence for the transportation and automotive sector held the largest market share in 2015”

The artificial intelligence market for the transportation and automotive sector held the largest market share compared to other end-user industries in 2015. The use of various AI technologies such as machine learning, natural language processing, image processing, and speech recognition for self-driving cars and the development of human-machine interface systems would drive in the growth of this segment.

Research Study Coverage: The report describes various technologies associated with artificial intelligence and related developments in terms of hardware, software solutions, and associated services across different industry verticals and regions. It aims at estimating the market size and future growth potential of this market across different segments such as offering, technology, end-user industry, and geography.

Furthermore, the report also includes an in-depth competitive analysis of the key players in the market along with their company profiles, SWOT analysis, recent developments, and key market strategies.

“Artificial intelligence market in North America expected to grow at the highest rate”

This report covers the AI market in regions including North America, Europe, Asia-Pacific, and Rest of the World (RoW). The market in North America is expected to grow at a high CAGR from 2016 to 2022 owing to factors such as the wide-scale adoption of AI technologies in several industries such as manufacturing, media and advertising, healthcare, BFSI, and transportation and automotive.

Moreover, the presence of key industry players such as Google Inc. (U.S), IBM Corporation (U.S.), NVIDIA Corporation (U.S.), and Microsoft Corporation (U.S.) which are engaged in R&D and new product launches of AI-enabled products is further fuelling its market growth.

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In the process of determining and verifying, the market size for several segments and sub segments gathered through secondary research, extensive primary interviews were conducted with key people. In Tier 1 (50%), Tier 2 (33%) and Tier 3 (17%) companies were contacted for primary interviews.

The interviews were conducted with various key people such as C-Level (62%), Director Level (25%) and others (13%) from various key organizations operating in the artificial intelligence market. The primary interviews were conducted worldwide covering regions such as North America (40%), Asia-Pacific (25%), Europe (20%) and RoW (15%).

Key takeaways of the report:

  1. This report includes the market statistics pertaining to technology, offering, end-user industry, and geography along with their respective revenue.
  2. The Porter’s Five Forces framework has been provided along with the value chain analysis to provide an in-depth insight into the artificial intelligence market.
  3. The major drivers, restraints, challenges, and opportunities for the artificial intelligence market have been detailed in this report.
  4. Illustrative segmentation, analysis, and forecast for artificial intelligence markets based on technology, offering, end-user industry, and geography have been provided to give an overall view of the artificial intelligence market.
  5. A detailed competitive landscape has been provided including key players, in-depth analysis, and revenue of key players.

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