Artificial Intelligence Market is expected to reach USD 348.99 Billion by 2027, according to a new report by Emergen Research. The increasing need for understanding consumer needs and market trends is one of the major factors driving the market growth. Moreover, the extensive adoption of smartphones, along with the popularity of social media, will also boost the growth of the market in the coming years.
One of the mentionable traits of AI is the ability and support it provides to machines to react, act, learn, and think like human beings. As a result of the mentioned characteristics, it turns out to be an effective decision making and data analytics tool that helps in deciding based on past data and identified patterns. It is the mentioned traits of AI, which has resulted in an increase in different industries that have a positive impact on the growth of the market.
The increased adoption of cloud-based solutions makes the incorporation of Artificial Intelligence (AI) services easy and effective. Cloud technology provides with required information and support for the AI learning process, which positively impacts the growth of the market. In various end-user industries, there has been an elevated demand for cognitive computing, which also acts as a driving factor for the expansion of the market.
The study performs a historical assessment of the Artificial Intelligence from 2021 to 2028, focusing on the market trends, revenue share, growth rate, production capacity, pricing structure, and other vital aspects during that period. The report emphasizes the demands and ongoing trends of the global Artificial Intelligence market, more importantly, across the major regions of the market. Additionally, our analysts have included SWOT analysis and Porter’s Five Forces analysis in the report to offer a better understanding of the competitive spectrum of this ever-evolving industry. Moreover, the report sheds light on the cutting-edge expansion strategies adopted by the market contenders, such as mergers & acquisitions, joint ventures, partnerships & collaborations, new product launches, and brand promotions.
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The global Artificial Intelligence market consists of various segments, including product type outlook, application spectrum, end-user overview, leading regions, and the competitive analysis. The report further provides information regarding the value chain, emerging market sectors, and the technological advancements in the industry to benefit readers and businesses looking to invest in this industry.
Key Market Competitors Profiled in the Report:
- Samsung Electronics, Intel, Xilinx, NVIDIA, IBM, Micron Technology, Microsoft, Amazon Web Services (AWS), Google, and Facebook, among others.
Key Highlights From The Report
- Machine learning comes with a wide range of applications across several industries, such as the banking and financial sector, healthcare, retail, publishing, and social media, among others. It is used to analyze the relevance of advertisements and contents based on users’ preferences. It held a market share of 32.6% in the year 2019.
- The revenue generated by the software segment is the result of the extensive use of these tools in analyzing hidden data sets and data patterns from large datasheets.
- Artificial intelligence can help reduce construction costs in many ways. For example, the use of virtual reality goggles and mini-robots into buildings under construction to track the work as it progresses. AI is also being used today to design the routing of electrical and plumbing systems in modern buildings. Artificial intelligence is also beneficial for the development of safety systems at work sites, which reduces the risks of hazards and accidents.
Significant driving forces shaping the future of the Artificial Intelligence market for the forecast period 2021 – 2028 find a special mention in the study and are backed by a real-time statistics. Thorough segmentation of the industry by type, application, classification, and geography works as an impetus towards increasing the sale figures and boosting business prospects alongside the hindrances that often restrict the industry’s growth. In addition, bifurcation of the market on the basis of consumption volume, customer preference, end-user, and production capacity is explained through important resources including but not limited to charts, graphic images, and tables.
For the purpose of this report, Emergen Research has segmented into the global Artificial Intelligence Market on the basis of offering, technology, end-user industry, and region:
- Offering Outlook (Revenue, USD Billion; 2017-2027)
- Hardware
- Processors
- Memory
- Network
- Software
- AI Platforms
- AI Solutions
- Services
- Deployment & Integration
- Support & Maintenance
- Technology Outlook (Revenue, USD Billion; 2017-2027)
- Machine Learning
- Deep Learning
- Supervised Learning
- Unsupervised Learning
- Reinforcement Learning
- Generative Adversarial Networks (GANS)
- Others
- Natural Language Processing (NLP)
- Context-Aware Computing
- Computer Vision
- End-User Industry Outlook (Revenue, USD Billion; 2017-2027)
- Healthcare
- Manufacturing
- Agriculture
- Automotive
- Retail
- Human Resources
- Security
- Marketing
- Construction
- Law
- Fintech
- Aerospace
- Defense
- Supply chain
- Food and Beverage
- Media and Entertainment
- Gaming
- Telecommunications
- Oil and Gas
For more details of the Artificial Intelligence Market Report, visit @ https://www.emergenresearch.com/industry-report/artificial-intelligence-market
The research segments the market based on product type, applications and end-use. It profiles the key players of the business and their individual contribution to the global economy. The report focuses on significant investments, business ventures, mergers, acquisitions, collaborations along with the technological developments in the field. It also evaluates the upcoming and niche areas in the business. The researcher aims to offer expert insights related to the industry and the new opportunities available in the market.
Target Audience of the Report:
- Leading Companies
- Large, medium-sized, and small enterprises
- Investors
- Value-Added Resellers (VARs)
- Venture capitalists
- Third-party knowledge providers
The report considers the following timeline for market estimation:
- Historical Years: 2019-2020
- Base Year: 2020
- Estimated Year: 2021
- Forecast Years: 2021-2028
Key Coverage of the Artificial Intelligence Market:
- Insightful information regarding the global Artificial Intelligence market
- Identification of growth in various segments and sub-segments of the Artificial Intelligence market
- Strategic recommendations for investment opportunities
- The report covers significant statistics related to the industry along with products, applications, price analysis, demand & supply, and production and consumptions rate
- Emerging trends and current market segment analysis to help investors formulate new business strategies
- Accelerates the decision-making process through the availability of the drivers and limitations
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The global Artificial Intelligence market report evaluates the latest economic scenario in terms of value and volume. It highlights the key growth drivers, restraints, production capacity, demand & supply ratio, import/export status, growth rate, and other critical aspects. Additionally, the report also performs SWOT analysis, Porter’s Five Forces analysis, speculation attainability investigation, and venture return investigation.
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