Moreover, Asia-Pacific is expected to grow with the highest CAGR of 60.4% over the forecast period of 2019-2025
NEW YORK, Jan. 14, 2020 /PRNewswire/ --
The global artificial intelligence market was USD 19,276.
25 million in 2018 and expected to grow at the CAGR of 55.6% over the forecast period of 2019-2025. North America is dominant with a share of 39.02% of the global market in 2018. Artificial intelligence (AI) is the imitation of human intelligence procedures by machines, particularly computer systems. These procedures comprise learning, reasoning, and self-correction. Artificial intelligence can be classified into three different types of systems i.e. human-inspired, analytical and humanized artificial intelligence. Analytical AI has only characteristics consistent with cognitive intelligence, while human-inspired has elements from emotional and cognitive intelligence, and humanized AI has the characteristic of all types of competencies i.e. emotional, cognitive, and social intelligence. Developments in AI have contributed to the growth of the automotive industry through the establishment and advancement of self-driving vehicles. As of 2016, over 30 companies are applying AI into the creation of driverless cars. A few companies involved with AI comprise Tesla, Google, and Apple. Artificial intelligence is assisting doctors. Also, the implementation of artificial intelligence in healthcare is helping the industry to boom in the market. For instance, Microsoft has developed AI to help doctors find the right treatments for cancer.
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Artificial intelligence is adopted by major players in the gaming industries. Due to which, growing number of investors in the developed market as well as developing countries. AI could surge GDP growth in both developed countries and emerging markets. Tech giants Apple, Inc., Alphabet (GOOGLE, LLC), and Microsoft (MSFT) has forged ahead in applying AI software to speech recognition, internet search, and classifying images. Amazon.com's AI expertise spans cloud-computing services and voice-activated home digital assistants. In 2018, approximately 47 AI startups were launched. The market is booming due to the increasing number of AI startup launched and investment in the various sectors in the developed market. China is dominant in the number of investments for AI startups. This growth mirrors the efforts of the Chinese government and the Chinese tech sector to lead in the field of artificial intelligence. Industry 4.0 implemented artificial intelligence in the smart factories that boosted the production process and created connected machines, interfaces, and components to communicate with one another. In Industry 4.0, smart factories using additive manufacturing such as 3D printing and other computer-driven manufacturing systems are capable of adaptively manufacturing parts on-demand, direct from digital designs. Growing adoption of AI-teaching in the education and entertainment industry creates an opportunity for the growth of artificial intelligence in the developed as well as developing countries. For instance, Baidu, Inc., delivers cloud-based teaching management solution to the tutoring agencies and schools.
North America holds the largest market share in the global artificial intelligence market and expected to grow with a CAGR of 52.4% over the forecast period of 2019-2025. Moreover, Asia-Pacific is expected to grow with the highest CAGR of 60.4% over the forecast period of 2019-2025. Artificial intelligence pushed total VC funds flowing to China to a record $40 billion in 2017, up 15 percent from the previous year. The Chinese government is active in promoting the AI industry and initiatives; its stated goal is to develop an AI sector worth $150 billion by 2030. The Chinese private sector is also active in the space. Internet firm Baidu has actively pursued an "AI-first" agenda since launching the Institute for Deep Learning in 2013 and establishing the Silicon Valley AI Lab the following year. In January 2018 the Beijing Frontier International AI Research Institute was established. There are also local AI initiatives in China with multiple cities Beijing, Shanghai, Hangzhou, Zhejiang, and Tianjin among them developing plans and policies for AI. For example, Shanghai plans to establish a special fund to invest in AI development, while Hangzhou has launched its own AI industrial park along with a fund that will invest approximately $1.5 billion in it.
The new report on artificial intelligence is a comprehensive presentation of trends, forecast and dollar values of the global artificial intelligence market. The study highlights the regional prospects, investment analysis, opportunities, trends, FDI, entry strategies and forecast up to 2025 for artificial intelligence market. In the regional prospects the report provides the data for the most lucrative region that create investment opportunities to the investor. Also, for the investment prospects the report covers the investment and revenue pockets in developed and developing countries. Moreover, investment analysis provides an insight on current and forecast investment in the segment of the artificial intelligence market. The report provides an insight on the FDI past, current and future analysis and opportunities, as well as country specific FDI norms. Also, entry strategies include mode of entry in the countries with current insights. The report also provides the insights on the country specific legal and government framework and tax and tariff structure. Moreover, the legal framework in the leading countries and lucrative markets provided in the study helps understand the policy framework and the legal attributes pertaining to the artificial intelligence in those countries or markets. Moreover, factor analysis provided in the study provides detailed analysis of the factors production such as men, machinery, money and materials and their accessibility in the leading countries in the regions such as North America, Europe, Asia-Pacific, Middle East, Africa and South America.
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