San Francisco, 3 October 2018: 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.
Access
Research Report of Artificial Intelligence
Market @ 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.
Browse more
reports of this category by Grand View Research at: 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 Press Release of Artificial Intelligence
Market@ 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.
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