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.
Browse full research report on Artificial Intelligence Market: https://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: https://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
- Robot
Assisted Surgery
- Virtual
Nursing Assistants
- Hospital
Workflow Management
- Dosage Error
Reduction
- Clinical
Trial Participant Identifier
- Preliminary
Diagnosis
- Automated
Image Diagnosis
- BFSI
- Risk
Assessment
- Financial
Analysis/Research
- Investment/Portfolio
Management
- Others
- Law
- Retail
- Advertising
& Media
- Automotive
& Transportation
- Agriculture
- Manufacturing
- Others
Artificial
Intelligence Regional Outlook (Revenue, USD Million, 2014 - 2025)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- UK
- Asia Pacific
- China
- India
- Japan
- South America
- Brazil
- The Middle
East & Africa
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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