Artificial intelligence market Analysis and Forecast by 2018-2026 Opportunities, Risk, and Driving Force

22/mag/2020 11:41:26 MonicaK Contatta l'autore

The worldwide market size for Artificial Intelligence market is estimated to be USD 987.9 million in 2017 and is estimated to grow at a CAGR of 55.9% during the forecast period. According to a new study published by Polaris Market Research the global artificial intelligence market is anticipated to reach USD 54 billion by 2026. The advancements of robots and the rise in their deployment rate particularly, in the developing economies globally have had a positive impact on the global artificial intelligence market. Augmented customer experience, expanded application areas, enhanced productivity, and big data integration has highly propelled artificial intelligence market worldwide. Although, absence of adequate skilled workforce as well as threat to human dignity are some of the factors that could affect the growth of the market. However, these factors are expected to have minimal impact on the market attributed to the introduction of advanced technologies.

 

An extraordinary increase in productivity has been achieved with machine-learning. For instance, Google, with the help of its experimental driverless technology has transformed cars including, Toyota Prius. Integration of various tools by artificial intelligence has helped in the transformation of business management. These tools include brand purchase advertising, workflow management tools, trend predictions among others. For example, the Google’s voice accuracy technology has 98% of accuracy rate. Furthermore, Facebook’s DeepFace technology has a success rate of approximately 97% in recognizing faces. Such accuracy in technologies is further anticipated to bolster the market growth during the forecast period.

 

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Currently, North America dominates the global artificial intelligence market attributed to the high government funding availability, existence of prominent artificial intelligence providers in the region, and robust technical adoption base. Also, the region is expected to continue its dominance during the forecast period. Moreover, the adoption of cloud-based services in key economies, such as the US and Canada, is considerably adding to the market growth in the North American region. The markets in Asia Pacific, MEA and South America region are expected to notice a high growth during the coming years. The growth in Asia Pacific region is attributed to the increasing demand for artificial technologies by the developing economies. Thus, the region is anticipated to grow at the highest CAGR during the forecast period.

 

Major companies profiled in the report include Google Inc., Intel Corporation, Nvidia Corporation, Microsoft Corporation, IBM Corporation, General Vision, Inc., Qlik Technologies Inc., MicroStrategy, Inc., Brighterion, Inc., and Baidu, Inc. among others

 

Complete Summary with TOC Available @. https://www.polarismarketresearch.com/industry-analysis/artificial-intelligence-market 

 

Key Findings from the study suggest North America is expected to command the market over the forecast years. APAC is presumed to be the fastest growing market, developing at a CAGR of more than 65% over the forecast period. The artificial intelligence market is presumed to develop at a CAGR of over 55.9% from 2018 to 2026. The high implementation of artificial intelligence in several end-user verticals including, retail, automotive and healthcare is projected to boost the growth of the market over the forecast period. Several companies are making considerable investments to integrate artificial intelligence competences into their portfolio of products. For instance, in 2016, SK Telecom and Intel Corporation signed an agreement for the development of the artificial intelligence based vehicle-to-everything (V2X) technology as well as video recognition.

  • Artificial Intelligence Market Size and Forecast by Technology
    • Machine Learning
    • Natural Language Processing
    • Image Processing
    • Speech Processing
  • Artificial Intelligence Market Size and Forecast by End-use Verticals
    • BFSI
    • Transportation & Automotive
    • Manufacturing
    • Healthcare
    • Retail
    • Media & Advertising
    • Others
  • Artificial Intelligence Market Size and Forecast by Regions
    • North America
      • U.S.
      • Canada
    • Europe
      • Germany
      • UK
      • France
      • Italy
    • Asia Pacific
      • China
      • Japan
      • India
    • Latin America
      • Brazil
      • Mexico
    • Middle East & Africa

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About Polaris Market Research

Polaris Market Research is a global market research and consulting company. We provide unmatched quality of offerings to our clients present globally. The company specializes in providing exceptional market intelligence and in-depth business research services for our clientele spread across different enterprises. We at Polaris are obliged to serve our diverse customer base present across the industries of healthcare, technology, semi-conductors and chemicals among various other industries present around the world. We strive to provide our customers with updated information on innovative technologies, high growth markets, emerging business environments and latest business-centric applications, thereby helping them always to make informed decisions and leverage new opportunities.

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Polaris Market Research

Phone: 1-646-568-9980

Email: sales@polarismarketresearch.com  

Web: www.polarismarketresearch.com 

 

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