Artificial Intelligence Market
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The artificial intelligence market is expected to grow at a CAGR 35.89% rate during the forecast period. Factors such as the increasing adoption of cloud-based applications and services, growing big data, and increasing demand for intelligent virtual assistants are expected to drive the market. The major restraint for the market is the limited number of AI technology experts.
The market has been segmented into hardware, software, and services on the basis of offerings. The adoption of AI is rapidly increasing in various applications. As AI is a complex technology requiring the implementation of sophisticated algorithms, AI-based systems require deployment and integration, and support and maintenance services. Also, most companies that manufacture and develop AI-based systems and related software provide both online and offline support, depending on the application.
The artificial intelligence market has been segmented into machine learning (ML), natural language processing (NLP), context-aware computing, and computer vision on the basis of technology. Computer vision is expected to grow at the highest CAGR. 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.
Manufacturing segment is expected to grow at the highest CAGR during the forecast period. Increasing data volume derived from the manufacturing value chain has led to the involvement of AI-enabled data analytics in the manufacturing sector. In addition, several industry initiatives, such as Industry 4.0, a connected manufacturing initiative by the Government of Germany, have proliferated the growth of AI-enabled devices in manufacturing.
APAC is expected to grow at the highest CAGR during the forecast period. This growth can be attributed to the increasing adoption of deep learning and NLP technologies in finance, agriculture, marketing, and law applications in APAC. Moreover, the presence of major players in market ecosystem results in the increasing adoption of these systems in APAC.
Key market players include Intel (US), NVIDIA (US), Xilinx (US), Samsung (South Korea), Facebook (US), Micron Technology (US), IBM (US), Google (US), Microsoft (US), and AWS (US).
2. Research Methodology
Limitation and Assumptions
3. Executive Overview
4. Market Overview
5. Artificial Intelligence Market, By Industry
6. Artificial Intelligence Market, By Offering
7. Artificial Intelligence Chipsets Market, By Technology
Natural language processing
8. Artificial Intelligence Chipsets Market, By Region
Rest of Europe
Rest of APAC
Rest of Middle East
Rest of the World
9. Company Profiles
General Vision Inc.
General Electric Company
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