According to a new market research report published by Global Insight Services ” Artificial Intelligence Market is expected to reach US$ XX bn by 2031. Report includes in-depth segmentation and market size data by categories, product types, applications, and geographies. Report also includes comprehensive analysis of key issues, trends and drivers, restraints and challenges, competitive landscape, as well as recent events such as M&A activities in the market.
Artificial intelligence technology is used to create and interpret human-like or machine-like responses in order to make intelligent decisions. This technology is used to interact with humans in natural ways, such as through conversation, and to process and understand human language. Artificial intelligence technology can also be used to create and interpret images, and to make decisions based on data.
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Key Players
- Amazon
- Meta
- IBM
- Microsoft
- Apple
- Salesforce
- SAP
- Oracle
Covid 19 Impact:
The outbreak of COVID-19 has impacted the global economy in unprecedented ways, with businesses across all sectors feeling the effects. The Artificial Intelligence (AI) industry is no exception, with businesses in the sector feeling the impact in a number of different ways.
The first is in terms of investment. Venture capitalists are becoming more cautious with their investments, and this is having an impact on the amount of funding that is available for AI startups. This is likely to lead to a slowdown in the development of new AI technologies and applications.
Key Trends:
Artificial intelligence (AI) is a rapidly growing field with immense potential. Here are five key trends in the AI market or technology:
- Rapid growth in AI hardware and software.
- Increased adoption of AI in the enterprise.
- Emerging markets are leading the way in AI adoption.
- AI is transforming industries.
- AI is changing the nature of work.
Key Drivers:
Artificial intelligence (AI) is still in its early developmental stages, which presents both opportunities and challenges for businesses wanting to adopt AI technologies. Currently, the AI market is being driven by the following key factors:
The ever-increasing volume of data: The growth of data is one of the key drivers of AI. The more data that is available, the more AI can learn and improve its accuracy. This is why businesses are increasingly turning to AI to help them make sense of their data and make better decisions.
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Market Segments
By Offering
- Hardware
- Processor
- Memory
- Network
- Software
- Application Program Interface (API)
- Machine Learning Framework
- Services
- Deployment and Integration
- Support and Maintenance
By Technology
- Machine Learning
- Deep Learning
- Supervised Learning
- Unsupervised Learning
- Reinforcement Learning
- Other Technology
- Natural Language Processing
- Context-Aware Computing
- Computer Vision
By Business Function
- Marketing and Sales
- Security
- Finance
- Law
- Human Resource
- Others
By Deployment Mode
- Cloud
- On-premises
By Organization Size
- Large enterprises
- Small and medium-sized enterprises (SMEs)
By Vertical
- BFSI
- Retail and eCommerce
- Telecommunication and IT
- Healthcare and Life Sciences
- Automotive
- Government and Defense
- Manufacturing
- Energy and Utilities
- Others
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