Global Artificial Intelligence Market – Overview:
The current COVID-19 pandemic is expected to have an effect on the growth of the Artificial Intelligence industry majorly attributable to the movement restrictions and impact on the supply and demand due to the lockdowns. The COVID-19 pandemic has affected several sectors of the global market, and the Artificial Intelligence sector is expected to feel the impact of the pandemic. The economic slowdown and dynamic changes in the demands will further affect the growth of the industry. The report covers the impact analysis of the COVID-19 pandemic on the overall Artificial Intelligence industry. Artificial Intelligence Market Size – USD 29.50 billion in 2019, Market Growth – CAGR of 36.2%, Market trends –Growing investment in research and development.
The global 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. 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. 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.
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Key participants include Samsung Electronics, Intel, Xilinx, NVIDIA, IBM, Micron Technology, Microsoft, Amazon Web Services (AWS), Google, and Facebook, among others.
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.
Offering Outlook (Revenue, USD Billion; 2017-2027)
Deployment & Integration
Support & Maintenance
End-User Industry Outlook (Revenue, USD Billion; 2017-2027)
Food and Beverage
Media and Entertainment
Oil and Gas
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Technology Outlook (Revenue, USD Billion; 2017-2027)
Generative Adversarial Networks (GANS)
Natural Language Processing (NLP)
At what rate is the global Artificial Intelligence market expected to grow during the forecast period?
What is the Artificial Intelligence market size expected to be between 2021 and 2028?
What are the expected key challenges and restraints in the global Artificial Intelligence market?
Which key players are operating in the global Artificial Intelligence Market?
What are the significant existing and potential market trends?
Which are the niche segments that leading companies are focusing their budget plans, revenue generation, and the latest developments around?
What are the prominent applications and types of the global Artificial Intelligence market?
What are the outcomes of the analytical methods of data assessment employed in the 55 Market report?
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Chapter 1: Methodology & Scope
· Definition and forecast parameters
· Methodology and forecast parameters
· Data Sources
· Business trends
· Regional trends
· Product trends
· End-use trends
· Industry segmentation
· Industry landscape
· Vendor matrix
· Technological and innovation landscape
· Business Overview
· Financial Data
· Product Landscape
· Strategic Outlook
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