Artificial Intelligence in Healthcare Market 52.68% CAGR Growth Report by 2022
PUNE, India, March 16, 2018 /PRNewswire/ --
ReportsnReports.com adds Artificial Intelligence in Healthcare Market is forecast to reach $7,988.8 million by 2022 from $667.1 million in 2016 at a CAGR of 52.68% during (2017-2022) driven by the growing usage of big data in healthcare industry, ability of AI to improve patient outcomes, imbalance between health workforce and patients, reducing the healthcare costs, growing importance on precision medicine, cross-industry partnerships, and significant increase in venture capital investments in AI in healthcare domain.
Browse 61 Market Data Tables and 71 Figures spread through 210 Pages and in-depth TOC on "Artificial Intelligence in Healthcare Market by Offering (Hardware, Software and Services), Technology (Deep Learning, Querying Method, NLP, and Context Aware Processing), Application, End-User Industry, and Geography - Global Forecast to 2022" http://www.reportsnreports.com/reports/985408-artificial-intelligence-in-healthcare-market-by-offering-hardware-software-and-services-technology-deep-learning-querying-method-nlp-and-context-aware-processing-application-end-user-industry-and-geograp-st-to-2022.html .
This report provides valuable insights into the ecosystem of the AI in healthcare market including the software companies, and chipset and medical solution providers. The major players in the AI in healthcare market are IBM Corporation (US), Intel Corporation (US), Google, Inc. (US), NVIDIA Corporation (US), Microsoft Corporation (US), iCarbonX (China), Next IT Corp. (US), CloudMedx Inc. (US), Carescore (US), Atomwise, Inc. (US), Zephyr Health, Inc. (US), Sentirian (US), BabyLabs, Inc. (US), Siemens Healthineers GmbH (Germany), Johnson & Johnson (US), Welltok, Inc. (US), General Vision, Inc. (US), Enlitic, Inc. (US), Recursion Pharmaceuticals (US), General Electric Company (US), Stryker Corporation (US), Deep Genomics, Inc. (Canada), Medtronic Plc. (Ireland), Koninklijke Philips N.V. (Netherlands), and Oncora Medical, Inc. (US).
Owing the factors of Natural Language Processing (NLP) to handle structured and unstructured data are driving the NLP market in AI in healthcare market. NLP currently holds the largest market share among the AI technologies. This demand has grown since the companies have started to structure the clinical data and find interpretation from them. Moreover the growing usage of internet and connected devices along with huge volume of patient's data driven the growth of this market.
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Faster calculations and lesser power consumption are the factors driving the growth of the hardware market for AI in healthcare. Hardware which includes GPUs, DSPs, FPGAs, and neuromorphic chips is expected to grow at the highest rate in the offering segment of AI in healthcare. The GPU, DSP, and FPGA are widely used to implement the deep learning algorithm. In terms of throughput, GPU is faster than FPGA; whereas in the case of power efficiency, FPGA is better than GPU. Keeping these factors in mind, the AI providers choose the hardware accordingly.
North America will witness the highest growth rate in the Artificial Intelligence in Healthcare Market. North America is expected to be the largest and fastest-growing market for AI in healthcare during the forecast period. The regulatory mandates for the use of Electronic Health Records, increasing focus on precision medicine, and strong presence of leading companies engaged in developing AI solutions for healthcare, and large number of cross-industry collaborations and growing investments in the field of AI in healthcare are driving the growth of the market in North America.
Deep learning technology expected to grow at the highest rate between 2017 and 2022. The government mandates for using Electronic Health Records (EHR), the presence of major companies such as IBM Corporation (US) and Google, Inc. (US) and Microsoft Corporation (US), and the engagement in deep learning technology are expected to propel the AI in healthcare market. However, reluctance among medical practitioners to adopt AI-based technologies and ambiguous regulatory guidelines for medical software are the major factors restraining the growth of the AI in healthcare market
Order a copy of "Artificial Intelligence in Healthcare Market by Offering (Hardware, Software and Services), Technology (Deep Learning, Querying Method, NLP, and Context Aware Processing), Application, End-User Industry, and Geography - Global Forecast to 2022" research report at http://www.reportsnreports.com/purchase.aspx?name=985408 .
The AI in healthcare market has been segmented on the basis of offering, technology, application, end-user industry, and geography. On the basis of offering, the market has been further segmented into hardware, software, and services. The AI in healthcare market is further segmented on the basis of technology into deep learning, querying method, NLP, and context aware processing. The market has been segmented on the basis of application into patient data and risk analysis lifestyle management and monitoring, precision medicine, in-patient care and hospital management, medical imaging and diagnosis, drug discovery, virtual assistant, wearables, and research. On the basis of geography, the market has been segmented into North America, Europe, Asia Pacific (APAC), and Rest of the World (RoW).
The breakup of the profile of primary participants has been given below:
- By Companies: Tier 1 - 40 %, Tier 2 - 20%, and Tier 3 - 40%
- By Designation: C-level Executives - 40%, Directors - 40%, and Others - 20%
- By Region: North America - 40%, Europe - 40%, APAC - 10%, and RoW - 10%
Another research titled Artificial Intelligence Market Global Forecast to 2025 says, the artificial intelligence market is expected to reach $190.61 billion by 2025 from $21.46 billion in 2018, at a CAGR of 36.62%. Software to hold largest market share during forecast period. Market for computer vision technology to grow at highest CAGR during forecast period. North America to dominate artificial intelligence market during forecast period. Companies such as Intel (US), NVIDIA (US), Xilinx (US), Samsung Electronics (South Korea), Facebook (US), Micron Technology (US), IBM (US), Google (US), Microsoft (US), AWS (US) have been profiled in this 205 pages research report available at http://www.reportsnreports.com/purchase.aspx?name=1346606 .
Explore more reports on Semiconductor and Electronics Market at http://www.reportsnreports.com/market-research/semiconductor-and-electronics/ .
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