Artificial intelligence market to grow at a CAGR of 36.62% between 2018 and 2025
The artificial intelligence market is expected to reach USD 190.61 billion by 2025 from USD 21.46 billion in 2018, at a CAGR of 36.62%. The market growth can be attributed to factors such as growing big data, the increasing adoption of cloudbased applications and services, and increasing demand for intelligent virtual assistants. The limited number of AI technology experts is restraining the market growth to a certain extent.
Software to hold largest market share during forecast period
Software is expected to hold the largest share of the artificial intelligence market. Continuous developments have been witnessed in AI software and related software development kits. Also, artificial intelligence software is used in various applications, such as virtual assistants, marketing, search advertising, identity access management, intruder detection, and cybersecurity.
Market for computer vision technology to grow at highest CAGR during forecast period
The artificial intelligence market for computer vision technology is expected to grow at the highest CAGR during the forecast period. The growing adoption of computer vision in autonomous and semiautonomous applications in various industries, such as manufacturing and automotive, is propelling the growth of this technology in the AI market.
North America to dominate artificial intelligence market during forecast period
North America is known for the high adoption of artificial intelligence. Increasing demand for intelligent virtual assistants acts as a driving force for the growth of the artificial intelligence market in the region. The market in North America is also characterized by high infrastructure costs and strict policies and regulatory frameworks. Companies such as IBM US, Google US, Microsoft US, NVIDIA US, Intel US, Facebook US, and AWS US are complementing the growth of the market in this region.
Breakdown of primary participant profiles:
By Company Type: Tier 125%, Tier 230%, and Tier 345%
By Designation: CLevel Executives45%, Directors35%, and Others20%
By Region: North America40%, Europe30%, APAC25%, and RoW5%
The key players operating in this market are Intel US, NVIDIA US, Xilinx US, Samsung Electronics South Korea, Facebook US, Micron Technology US, IBM US, Google US, Microsoft US, and AWS US.
Research Coverage
Various market segments have been covered in this report. These include segments such as offering, technology, enduser industry, and geography. The report also provides a detailed overview of the market across 4 main regionsNorth America, Europe, APAC, and RoW.
Reasons to Buy the Report
This report includes statistics pertaining to the artificial intelligence market in terms of offering, technology, enduser industry, and geography, along with their respective market size.
The report details the major drivers, restraints, opportunities, and challenges pertaining to the artificial intelligence market.
The report includes illustrative segmentation, analysis, and forecast for the artificial intelligence market based on its segments and subsegments.