Artificial Intelligence Market Forecasts
Aug 22, 2018, 08:31 ET
LONDON, August 22, 2018 /PRNewswire/ -- 294 Consumer, Enterprise, and Government Use Cases for Machine Learning, Deep Learning, Natural Language Processing, Computer Vision, Machine Reasoning, and Strong AI Across 30 Industry Sectors
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The AI market is entering a dynamic phase of growth where adoption in the enterprise sector continues unabated, but there are questions emerging within research and academic circles about whether the technologies fueling the AI revolution, particularly deep learning, might be hitting a bottleneck. The recent controversy surrounding Facebook and data privacy, AI safety and explainability with Uber's self-driving car fatality, or questions about authenticity and the power of generative algorithms to create fake images and video, are all issues that highlight the risks and challenges facing AI in 2018. The challenges are to be expected as we move from a hype phase into a reality phase as part of the cycle of AI market development. Tractica sees these challenges as part of the maturity curve for AI, where the next few years will see a sobering of expectations, while the momentum around use cases and applications continues to build.
This growth is evidenced in Tractica's most recent update to the firm's AI market forecasts model, which is built upon a taxonomy of 294 real-world use cases for AI, distributed across 30 different industry sectors. Compared to 6 months ago, Tractica sees continued growth in use cases, adding 28 new use cases in this iteration of the model. Telecommunications, consumer (internet services), advertising, healthcare, automotive, and retail are some of the big industry verticals that will lead in AI adoption. In its latest update, Tractica forecasts that annual worldwide AI software revenue will grow from $5.4 billion in 2017 to $105.8 billion by 2025.
This Tractica report provides a quantitative assessment of the market opportunity for AI across the consumer, enterprise, and government sectors. The report includes market sizing, segmentation, and forecasts for 294 AI use cases distributed across 30 industries, and 165 unique use cases. The market forecasts span the period from 2017 through 2025 and include segmentation by the six fundamental AI technologies: machine learning, deep learning, computer vision, natural language processing, machine reasoning, and strong AI. Revenue forecasts are further segmented by software, hardware, and services, in addition to segmentation by world region.
Key Questions Addressed:
- What are the key use cases for AI and which industry sectors will experience the most revenue growth during the period between 2017 and 2025?
- How does the growth of AI vary among vision, language, and analytics-based use cases?
- How does AI revenue break down between indirect and direct revenue, differentiating between internal AI development spend versus AI-based product revenues?
- Which key AI technologies and combinations of technologies will gain the most market traction?
- How will AI software deployments drive sales of hardware and professional services?
- How will the market opportunity for AI vary by world region?
- What will be the key drivers of AI adoption in each industry and technology category?
Who Needs This Report?
- Artificial intelligence technology companies
- Software companies
- Semiconductor and component vendors
- Service providers and systems integrators
- End-user organizations deploying AI systems
- Industry organizations
- Government agencies
- Investor community
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