Dublin, June 04, 2020 (GLOBE NEWSWIRE) -- The "Artificial Intelligence Global Market Report 2020-30: COVID-19 Growth and Change" report has been added to ResearchAndMarkets.com's offering.
This report provides the strategists, marketers and senior management with the critical information they need to assess the global artificial intelligence market.
This report focuses on the artificial intelligence market which is experiencing strong growth. the report gives a guide to the artificial intelligence market which will be shaping and changing our lives over the next ten years and beyond, including the markets response to the challenge of the global pandemic.
The global artificial intelligence market is expected to grow from $28.42 billion in 2019 to $40.74 billion in 2020 at a compound annual growth rate (CAGR) of 43.39%. The growth is mainly due to the COVID-19 health emergency across the globe that has led to a new wave of transformative technologies including the revolutionary artificial intelligence technology (for example - smart machines and robots) emerging as a possible solution to contain the epidemic. The market is then expected to recover and reach $99.94 billion in 2023 at CAGR of 34.86%.
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The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. it traces the market's historic and forecast market growth by geography. it places the market within the context of the wider artificial intelligence market, and compares it with other markets.
- the market characteristics section of the report defines and explains the market.
- the market size section gives the market size ($b) covering both the historic growth of the market, the influence of the COVID-19 virus and forecasting its growth.
- Market segmentations break down market into sub markets.
- the regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. it covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
- Competitive landscape gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
- the trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
- the artificial intelligence market section of the report gives context. it compares the artificial intelligence market with other segments of the artificial intelligence market by size and growth, historic and forecast. it analyses GDP proportion, expenditure per capita, artificial intelligence indicators comparison.
The artificial intelligence market consists of sales of the artificial intelligence software and related services. Artificial Intelligence (AI) sometimes referred to as machine intelligence. Artificial intelligence is a wide-ranging branch of computer science related with building smart machines that can perform tasks that require human intelligence.
North America was the largest region in the artificial intelligence market in 2019. Asia Pacific is expected to be the fastest growing region in the forecast period.
In January 2020, Apple acquired a Seattle based startup xnor.ai for a $200 million. The acquisition is expected to strengthen Apple in delivering AI capabilities. Xnor.ai is listed in 2019 Forbes AI 50: America's most promising artificial intelligence companies.
The artificial intelligence market covered in this report is segmented by offering into hardware; software; services. It is also segmented by technology into machine learning; natural language processing; context-aware computing; computer vision; others (image processing, speech recognition) and by end-user industry into healthcare; automotive; agriculture; retail; marketing; telecommunication; defense; aerospace; media & entertainment; others.
The limited number of AI Experts is a major challenge to the artificial intelligence market. To develop the AI software the company needs AI experts, practitioners, and researchers. According to the research report by Tencent in 2017, a Chinese tech giant, there are 300k AI researchers and practitioners worldwide but the market demand is around millions of roles. The limited number of AI experts may impact the growth of the artificial intelligence market.
Automated machine learning is being implemented by many companies. It is quite complicated to apply traditional machine learning models for real-world business problems. The better solution is to use automated machine learning which allows non-machine learning (ML) experts to use machine learning algorithms without being machine learning wizards. For instance, tools like "Google cloud AutoML" are used to train custom made and high-quality ML models with a minimum ML expertise.
Growing investment in AI technologies contributed to the growth of the artificial intelligence market. Many companies are investing in AI technologies or AU start-ups to increase the efficiency of AI software as AI enables them make more informed decisions and achieve better results. For instance, Microsoft has invested around $1 billion in OpenAI a San Francisco company. The two companies had formed a partnership to develop AI supercomputing technologies on Microsoft's cloud Azure. AI is useful across multiple sectors. For instance, AI can lead to breakthroughs in R&D and diagnostics in healthcare sector. It can help make better forecasts in finance, manufacturing, and can increase production controls and efficiency. Therefore, the rise in investment in AI technologies due to its advantages in every sector is driving the growth of the artificial intelligence market.
Key Topics Covered:
1. Executive Summary
2. Artificial Intelligence Market Characteristics
3. Artificial Intelligence Market Size And Growth
3.1. Global Artificial Intelligence Historic Market, 2015 - 2019, $ Billion
3.1.1. Drivers Of The Market
3.1.2. Restraints On The Market
3.2. Global Artificial Intelligence Forecast Market, 2019 - 2023F, 2025F, 2030F, $ Billion
3.2.1. Drivers Of The Market
3.2.2. Restraints On the Market
4. Artificial Intelligence Market Segmentation
4.1. Global Artificial Intelligence Market, Segmentation By Offering, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
4.2. Global Artificial Intelligence Market, Segmentation By Technology, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
4.3. Global Artificial Intelligence Market, Segmentation By End-user Industry, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
5. Artificial Intelligence Market Regional And Country Analysis
5.1. Global Artificial Intelligence Market, Split By Region, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
5.2. Global Artificial Intelligence Market, Split By Country, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
6. Asia-Pacific Artificial Intelligence Market
7. China Artificial Intelligence Market
8. India Artificial Intelligence Market
9. Japan Artificial Intelligence Market
10. Australia Artificial Intelligence Market
11. Indonesia Artificial Intelligence Market
12. South Korea Artificial Intelligence Market
13. Western Europe Artificial Intelligence Market
14. UK Artificial Intelligence Market
15. Germany Artificial Intelligence Market
16. France Artificial Intelligence Market
17. Eastern Europe Artificial Intelligence Market
18. Russia Artificial Intelligence Market
19. North America Artificial Intelligence Market
20. USA Artificial Intelligence Market
21. South America Artificial Intelligence Market
22. Brazil Artificial Intelligence Market
23. Middle East Artificial Intelligence Market
24. Africa Artificial Intelligence Market
25. Artificial Intelligence Market Competitive Landscape And Company Profiles
25.1. Artificial Intelligence Market Competitive Landscape
25.2. Artificial Intelligence Market Company Profiles
26. Key Mergers And Acquisitions In The Artificial Intelligence Market
27. Artificial Intelligence Market Trends And Strategies
28. Artificial Intelligence Market Future Outlook and Potential Analysis
29. Appendix
29.1. Abbreviations
29.2. Currencies
29.3. Research Inquiries
29.4. About the Publisher
29.5. Copyright And Disclaimer
Companies Mentioned
- IBM
- Baidu
- Microsoft
- Apple Inc.
- Ipsoft
- NVIDIA corporation
- Samsung Electronics Co.Ltd
- MicroStrategy Inc.
- Qlik Technologies Inc
- Verint Systems Inc (Next IT Corp)
- Qualcomm Technologies
- Micron Technology
- Xilinx Inc
- Intel corporation
- ARM Holding
- Advanced Micro Devices Inc
- Huawei Technologies Co.Ltd
- SAP
- Intel
- Salesforce
- Brighterion
- KITT.AI
- IFlyTek
- Megvii Technology
- Albert Technologies
- H2O.ai
- Brainasoft
- Yseop
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