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Artificial Intelligence Market By Technology (Deep Learning, Robotics, Digital Personal Assistant, Querying Method, Neuro-Linguistic Programming, Context-Aware Processing), By End-Use Industry (Manufacturing And Processing, BFSI, Oil And Gas, Healthcare, Agriculture, Automotive And Transportation, Retail) - Growth, Future Prospects And Competitive Analysis, 2017 - 2025

Artificial intelligence is a branch of science and technology that deals with the process of making machines and related processes smart with the help of intelligent computer programming. The prime purpose of artificial intelligence is to create an expert system capable of exhibiting intelligent 

behaviors such as learning, demonstrating, and implementing. Machines enabled with artificial intelligence are capable of performing tasks efficiently under different circumstances with understanding, learning, and thinking abilities similar to those of human beings. Artificial intelligence enables organizations to improve the performance of already installed systems with simple modifications to their pre-existing infrastructure. The overall efficiency of the process is raised significantly with minimal or no dependability on human judgments and supervision.

Artificial intelligence has been adopted by a variety of end-use industry verticals, such as manufacturing and processing, BFSI, oil and gas, healthcare, agriculture, automotive, and retail, among others. The manufacturing and healthcare industries were one of the first end-use industries to benefit significantly from the adoption of artificial intelligence. The proliferation of artificial intelligence in the aforementioned industries has aided organizations in achieving optimum working capabilities through complete utilization of resources. In addition, many established players, such as Google, IBM, and Microsoft, among others, have been making heavy investments in order to develop the entire array of technologies falling under the artificial intelligence category.

In 2016, major international corporations invested approximately $30 billion in the development and promotion of artificial intelligence. With an increasing number of companies engaged in the development of artificial intelligence and a rise in the demand for technology by different end-use industry verticals, the overall artificial intelligence market is expected to demonstrate significant growth in the following years.

The report titled "Artificial Intelligence Market: Growth, Future Prospects, and Competitive Landscape, 2017–2025" offers strategic insights into the global artificial intelligence market with a focus on the market's size and estimates for the duration of 2015–2025. The said research study covers an in-depth analysis of market segments based on technology, end-use industry, and a cross-sectional study across different geographies. The study covers the comparative analysis of each sub-segment for the years 2016–2025. The report also provides a prolific view of market dynamics, such as market drivers, restraints, and opportunities.

In order to help strategic decision-makers, the report also includes competitive profiling of the leading artificial intelligence developers, their strategies, market positioning, and key developments. Some of the major players profiled in the report include Google, Inc., IBM Corporation, Microsoft Corporation, Nvidia Corporation, Intel Corporation, General Vision, Inc., Numenta, Inc., Sentient Technologies Holdings Ltd., Fingenius Limited, and Inbenta Technologies, Inc.

Other in-depth analysis provided in the report includes:

  • Current and future market trends to justify the forthcoming attractive markets within the artificial intelligence industry
  • Market fuelers, market impediments, and their impact on market growth
  • Market inclination insights and key trend analysis for the artificial intelligence market
  • in-depth competitive environment analysis
  • Trailing 2-year market size data (2015–2016)

Overall, the research study provides a holistic view of the global artificial intelligence market, offering market size and estimates for the period from 2017 to 2025, keeping in mind the above-mentioned factors.

The global artificial intelligence market is segmented, based on technology, into the following categories:

  • Deep Learning
  • Robotics
  • Digital Personal Assistant
  • Querying Method
  • Neuro-Linguistic Programming
  • Context-Aware Processing

As of 2016, the deep learning segment dominated the overall artificial intelligence market worldwide. Deep learning artificial intelligence is based on a complex learning algorithm infrastructure. This algorithm allows the machines to interpret the information, develop a relationship between various data points, and select an appropriate action on a particular input.

Deep learning has been adopted for a wide array of applications, such as computer vision, speech recognition, natural language processing, and machine translation, among others. Growing interactions between humans and machines have boosted the demand for deep learning artificial intelligence, which is further expected to grow consistently throughout the forecast period.

As of 2016, the digital assistant segment trailed the deep learning segment in terms of revenue. A digital assistant is a smart algorithm designed to interact with human beings. This artificial intelligence method provides humans with application-specific assistance based on logic and an expert system database. Digital assistance technology is generally used in smartphones, tablets, and kiosks, among others, for human-machine interface communication. The thriving smartphone and interactive device market are expected to drive up demand for artificial intelligence digital assistants in the coming years.

The global artificial intelligence market is segmented, based on end-use industry, into the following categories:

  • Manufacturing and Processing
  • Banking, Financial Services, and Insurance (BFSI)
  • Oil and gas
  • Healthcare
  • Agriculture
  • Automotive and Transportation
  • Retail
  • Others

As of 2016, the manufacturing and processing segment dominated the overall artificial intelligence market worldwide. Implementation of artificial intelligence in the fields of manufacturing, product processing, quality control, and other functions such as process, planning, and control has significantly boosted the capabilities of manufacturing industries. Furthermore, artificial intelligence plays an important role in fault detection and maintenance in a manufacturing plant. Thus, artificial intelligence helped in reducing downtime and saving considerably on human working hours and costs. Owing to the aforementioned applications, the manufacturing, and processing industries are expected to dominate the overall artificial intelligence market in the following years.

The healthcare industry is the fastest-growing end-use industry segment in the overall artificial intelligence market. The integration of artificial intelligence is helping hospitals and healthcare centers in applications such as disease diagnosis, patient care, hospital staff management, and critical drug research. With the introduction of sophisticated artificial intelligence, hospitals and healthcare centers are now able to improve healthcare quality and provide comfort to patients. Consequently, the artificial intelligence market is expected to witness strong growth in the field of healthcare throughout the forecast period.

The global artificial intelligence market has been segmented on the basis of geographical regions, as per the following regions and countries:

North America

  • U.S.
  • rest of North America

Europe

  • U.K.
  • Germany
  • France
  • Rest of Europe

Asia Pacific

  • Japan
  • China
  • India
  • Rest of Asia Pacific

Rest of the World (RoW)

  • The Middle East and Africa
  • Latin America

As of 2016, North America dominated the overall artificial intelligence market in terms of revenue. The countries in North America, especially the U.S., have played a crucial role in the development of artificial intelligence. Many industry giants in this region, such as Google, IBM, Microsoft, and others, are heavily investing in the development of artificial intelligence. In addition, a variety of end-use industries in North America, such as manufacturing, healthcare, BFSI, automotive, and others, are integrating artificial intelligence for better performance and to achieve enhanced customer satisfaction. Owing to the aforementioned reasons, North America is expected to dominate the overall artificial intelligence market throughout the forecast period from 2017 to 2025.

Asia Pacific is considered the most promising for the overall artificial intelligence market. Major developing countries such as China, Japan, and India, among others, are gradually accepting artificial intelligence for end-use industries such as manufacturing and BFSI. With growing awareness and vast scope of applications, the Asia Pacific region is expected to be the fastest-growing region for the artificial intelligence market in the following years.

Frequently Asked Question:

The market for Artificial Intelligence Market is expected to reach USD$ 1.36 Bn in 2025.

The Artificial Intelligence Market is expected to see significant CAGR growth over the coming years, at 52%.

The report is forecasted from 2017 -2025.

The base year of this report is 2016.

Google, Inc., IBM Corporation, Microsoft Corporation, Nvidia Corporation, Intel Corporation, General Vision, Inc., Numenta, Inc. are some of the major players in the global market.

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Trusted By
Godaddy
Published Date:  Sep 2017
Category:  IT & Telecom
Report ID:   58707
Report Format:   PDF
Pages:   120
Rating:    4.8 (65)
Delivery Time: 24 Hours to 48 Hours   
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