According to TechSci Research report, “United States Artificial Intelligence Market, By Application, By Region, By End User Competition Forecast & Opportunities, 2011-2021’’, the artificial intelligence market in the US is projected to grow at a CAGR of 75% during 2016 – 2021 on account of growing artificial intelligence technology adoption in consumer electronic devices, research and developmental activities in healthcare industry, unmanned aerial vehicles, autonomous cars, etc. Moreover, venture capital investments in this sector, are in full swing, especially in the US. The country is witnessing numerous start-ups sprouting every year, backed by various angel investors and venture capitalists. Major venture capitalist active in the United States artificial intelligence market include Accel, General Catalyst Partners, GV, Work-Bench, Promus Ventures, Kleiner Perkins Caulfield & Byers, Khosla Ventures, Samsung Electronics, Wipro Technologies, Samsung Global Innovation Centre, Goldman Sachs, Bank of America Merrill Lynch, and Formation 8, among others.
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In 2015, western region of the United States dominated the artificial intelligence market of the country, on account of presence of major end users such as cyber security solution providers, healthcare institutes, government headquarters, etc., in the region. Speech Recognition, Image Recognition, Natural Language Processing, Gesture Control, Cyber Security and Others, are the major applications in the United States artificial intelligence market. Major consumer electronic device manufacturers and platform providers such as Apple, Microsoft and Google are increasingly offering these solutions in smartphones, tablets and other smart wearables. Moreover, leading tech giants such as IBM, Intel, Amazon, etc., are strengthening their market presence by increasing their focus on inorganic expansion strategy.
“Healthcare industry of the United States is increasingly employing artificial intelligence solutions, to cure life threatening diseases such as cancer, cardiovascular ailments and neurological disorders. Moreover, research and developmental activities on injecting nanoparticles into the bloodstream, is expected to be a major breakthrough in the United States artificial intelligence market. These nano particles can detect and diagnose diseases such as cancer, heart attacks, metabolic activities, neurological disorders or changes in an individual’s biochemistry at cellular level. Patient can use a smart wristband to view readings provided by the nanoparticles. Such developments are anticipated to revolutionize healthcare industry in the US in the coming years,’ said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
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“United States Artificial Intelligence Market, By Application, By Region, By End User Competition Forecast & Opportunities, 2011-2021” has evaluated the future growth potential of United States artificial intelligence market and provides statistics and information on market size, structure and trends. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment evaluation. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in the United States artificial intelligence market.