According to the latest report by IMARC Group, titled “Artificial Intelligence Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025,” the global artificial intelligence market size experienced healthy growth during 2014-2019. Artificial intelligence (AI) refers to the branch of computer science that deals with the simulation of human intelligence for the development of programmable machines. These machines are programmed to think like humans and mimic their actions. AI is characterized by its ability to rationalize and act as a plausible option for achieving a certain goal.
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Competitive Landscape:
The report has also analysed the competitive landscape of the market with some of the key players being Alphabet Inc., Amazon Web Services Inc., Apple Inc., Baidu, Cisco Systems Inc., Facebook Inc., General Electric Company, Google LLC, International Business Machines, Intel Corporation, Micron Technology Inc., Microsoft Corporation, Nvidia Corporation, Oracle Corporation, Rockwell Automation Inc., Samsung Electronics Co. Ltd., SAP SE, Siemens AG, etc.
Global Market Trends:
The AI market is primarily driven by the rising adoption of cloud-based services and increasing digitization. Numerous applications of AI across various industries are acting as another major growth-inducing factor. For instance, in the financial industry, AI is used to detect and flag activity in banking and finance processes. Other than this, it is utilized in the healthcare industry for administering drugs and different treatment in patients, and for performing surgical procedures in the operating room. Furthermore, the leading organizations are using AI for recognizing and scrutinizing visual content to gain deeper insights. In addition to this, enterprises are investing significantly to improve the existing AI infrastructure and develop AI-powered industrial and surgical robots, which is expected to provide a positive thrust to the market in the coming years.
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Breakup by Type
Narrow/Week Artificial Intelligence
General/Strong Artificial Intelligence
Breakup by Offering:
Hardware
Software
Services
Breakup by Technology:
Machine Learning
Natural Language Processing
Context-Aware Computing
Computer Vision
Others
Breakup by System:
Intelligence Systems
Decision Support Processing
Hybrid Systems
Fuzzy Systems
Breakup by End-Use Industry:
Healthcare
Manufacturing
Automotive
Agriculture
Retail
Security
Human Resources
Marketing
Financial Services
Transportation and Logistics
Others
Breakup by Region:
North America
Asia Pacific
Europe
Latin America
Middle East and Africa
Note: As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviors of the consumers globally–our estimates about the latest market trends and forecast values after considering the impact of this pandemic.
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