Artificial Intelligence (AI) Market Size, Share and Growth Research by Technology (Machine Learning, Natural Language Processing, Image Processing, Speech Recognition), and Industry Vertical (Media & Advertising, BFSI, IT & Telecom, Retail, Healthcare, Automotive & Transportation, and Others) - Opportunity Analysis and Regional Forecast, 2020-2027

ID: VPR/ICT/133 Publishing Year: December 2020 Pages: 186 Format:   


Market Overview:

The Artificial Intelligence Market was valued at $XXX billion in2019, and it is expected to reach $XXX billion by 2027, registering a CAGR of XX% from 2020 to2027. Artificial Intelligence can also be called machine learning. The machine or computer-controlled robot programmed to perform tasks like humans. These smart machines learn by experience and are a great use for problem-solving. The machines think and work like humans. The key features of these smart machines which are in use today for speech recognition, problem-solving, learning, and planning. Artificial Intelligence is the core foundation for the next generation of technology.

Artificial Intelligence is one of the rapidly growing technology. It is highly contributing to industries like IT, automotive, healthcare, and manufacturing. Artificial Intelligence is helping in the fields of safety and security to various industries. At this initial phase of Artificial Intelligence more and more companies are investing in machine learning which is boosting the market of Artificial Intelligence Technology. Employees need to adapt this technology by taking training because a lack of training can be an obstacle for the growth of the Artificial Intelligence Market. The growing Artificial Intelligence technology will generate mass unemployment. Numerous AI solutions that are in use today like Siri, tesla cogito, Netflix, and others are gaining popularity and influencing much better customer experience. The future of Artificial Intelligence is more advanced than the present. These machines will smartly interact with human experts providing proper explanations, examples, and answers.

Key Players

  • Alphabet (Google Inc.)
  • Apple Inc.
  • Baidu
  • IBM Corporation
  • IPsoft
  • Microsoft Corporation
  • MicroStrategy, Inc.
  • NVIDIA  
  • Qlik Technologies Inc
  • Verint Systems Inc (Next IT Corp)

Segment Overview:

The Artificial Intelligence Market is segmented based on Technology, Industry Vertical, and Geography.

Technology Insights:

The Market Size of Artificial Intelligence Technology is increasing day by day. There will be more demand for Artificial Intelligence solutions in the coming years. Artificial Intelligence will dominate the market in terms of revenue. Artificial Intelligence has revolutionized the pattern of business management through various Artificial Intelligence solutions, management tools, trend predictions, and others. Machine learning plays an important role for companies to invest in the Artificial Intelligence Market. The growing need for analyzing and interpreting large amounts of data is increasing the Artificial Intelligence Market globally which gives importance to Natural Language processing. Image processing and speech recognization features are contributing to the field of safety and security.

Industry Insights:

Artificial Intelligence has various applications in sectors such as healthcare, advertising and media, law, BSFI, retail, automotive and transportation, manufacturing, agriculture, and others. The advertising and media are dominating the market of Artificial Intelligence at present but the health care segment is also gaining share and is anticipated to grow by 2027. Artificial Intelligence solutions are helping health care in providing accurate treatment and medical preventions. The leading competitors of the Artificial Intelligence Market are Alphabet (Google Inc.), Apple Inc., Baidu, IBM, IPsoft, Microsoft Corporation, MicroStrategy, Inc., NVIDIA, Qlik Technologies Inc., and Verint Systems Inc (Next IT Corp) contributing in the market. This industry is providing various services such as Google Assistant, dialogue and voice recognition of Siri, Microsoft Cortana, image classification in Facebook & Google Photo, and Amazon’s Alexa. These various segments of industry vertical are leading to digital data which is giving rise to the need for data mining and analytics.

Artificial Intelligence (AI) Market Key Segments:

By Technology

  • Machine learning
  • Natural language processing
  • Image processing
  • Speech recognition

By Industry Vertical

  • Media & advertising
  • BFSI
  • IT & Telecom
  • Retail
  • Healthcare
  • Automotive & transportation
  • Others (Agriculture, Law, Educational Institutions)

By Geography

North America

  • U.S.
  • Canada
  • Mexico

Europe

  • UK
  • Germany
  • France
  • Russia
  • Rest of Europe

Asia-Pacific

  • China
  • Japan
  • India
  • Australia
  • Rest of Asia-Pacific

LAMEA

  • Latin America
  • Middle East
  • Africa

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