LONDON, Sept. 18, 2018 /PRNewswire/ -- Download the full report: https://www.reportbuyer.com/product/5563959
The global artificial intelligence market size is expected to reach $169,411.8 million in 2025, from $4,065.0 million in 2016 growing at a CAGR of 55.6% from 2018 to 2025. Artificial Intelligence (AI) has been one of the most progressive technologies in computer science since its introduction in the 1950s. The developments in making more human-like robots and increase in rate of deployments in the developing regions have further transformed the overall market. Google, IBM, Microsoft, and Apple are some of the leading players of the global AI market.
The technology of machine-learning has driven exceptional increase in productivity. For instance, Google and Baidu have increased investment to expand their business capabilities in the AI market. Moreover, developments such as self-driving cars, space exploration, accurate weather predictions, and other prominent developments are boosting the demand for artificial intelligence technologies. However, limited availability of skilled and expert AI employees can negatively impact the growth of the AI Market.
The AI market is segmented by technology, industry vertical, and geography. The various technologies are sub-divided into machine learning, natural language processing, image processing, and speech recognition. In 2016, the machine learning segment dominated the market, in term of revenue, and is expected to maintain this trend in the coming years, owing to increase in demand for artificial intelligence industry solutions. Based on industry verticals, the market is categorized into media & advertising, retail, telecom & IT, healthcare, automotive & transportation, and others (agriculture, law, educational institutions). The IT & telecom segment is anticipated to dominate the global artificial intelligence market throughout the forecast period. Geographically, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. In 2017, North America region contributed the highest revenue share in the artificial intelligence market and is anticipated to secure the leading position during forecast period, owing to the presence of key companies and large investment in the AI Market.
KEY MARKET SEGMENTS
Natural language processing
BY INDUSTRY VERTICAL
Media & advertising
IT & Telecom
Automotive & transportation
Others (agriculture, law, educational institutions)
Rest of Europe
Rest of Asia-Pacific
Alphabet (Google Inc.)
Qlik Technologies Inc
Verint Systems Inc (Next IT Corp).
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