United States Artificial Intelligence Market Competition Forecast & Opportunities, 2021 - Market is Projected to Grow at a CAGR of Approx 75% - Research and Markets

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Jul 28, 2016, 03:10 ET

DUBLIN, July 28, 2016 /PRNewswire/ --

Research and Markets has announced the addition of the "United States Artificial Intelligence Market, By Application (Speech Recognition, Image Recognition, etc.), By Region, and By End User (Consumer Electronics, Security & Access Control, etc.) Competition Forecast & Opportunities, 2011-2021" report to their offering.

The market for artificial intelligence in the US is projected to grow at a CAGR of around 75% during 2016-2021.

United States is the largest market for artificial intelligence solutions, globally. Continuous research and development in healthcare, autonomous vehicles, security and access control, cyber security, etc., are expected to fuel growth in the United States artificial intelligence market. Rising penetration of smart wearables, burgeoning head-up display screen market in luxury car segment and growing venture capital investments are also propelling adoption of artificial intelligence solutions in the country.

United States government is also playing a proactive role in the country's artificial intelligence market by organizing workshops in association with leading solution providers. Moreover, the government is increasing its focus on using artificial intelligence solutions in the healthcare sector to curb growing menace of cardiovascular, and cancer imaging, identification and diagnosis.

Growing trend of integration of video surveillance with artificial intelligence for video analysis, coupled with rising government spending on cyber security solutions integrated with real time analytics and artificial intelligence is expected to boost artificial intelligence market in the United States over the next five years. In 2015, the US artificial intelligence market was highly fragmented, with presence of a huge number of start-ups in the country.

However, the market is expected to undergo consolidation in the coming years, with tech giants such as Apple, Google, Microsoft, Intel, Amazon, IBM, etc., thrusting on inorganic expansion in the country's artificial intelligence market.

Research and developmental activities on integration of 3D printing, artificial intelligence and neurotechnology are expected to augment artificial intelligence adoption in the US healthcare market. Furthermore, growing application of speech recognition, image recognition and natural language processing in consumer electronics is gaining momentum in the country, with the trend expected to continue through 2021.

United States Artificial Intelligence Market, By Application, By Region, By End User Competition Forecast & Opportunities, 2011-2021 discusses:

United States Artificial Intelligence Market Size, Share & Forecast
Segmental Analysis - By Application (Speech Recognition, Image Recognition, Natural Language Processing, Gesture Control, etc.), By Region, and By End User (Consumer Electronics, Security & Access Control, Transport, Healthcare, etc.)
Policy & Regulatory Landscape
Changing Market Trends & Emerging Opportunities
Competitive Landscape & Strategic Recommendations

Market Trends & Developments