Global Artificial Intelligence Market Was Estimated to Be USD 4,157.6 Million in 2016 - DZone AI

According to the GMI Research report, "Global Artificial Intelligence Market By Solution, By Technology, By End-Use, and By Geography -- Opportunities & Forecast 2016–2025", the global artificial intelligence market was estimated to be USD 4,157.6 million in 2016 and is projected to reach USD 153,389.0 million by the end of 2025, exhibiting a CAGR of 49.3% during the forecast period. The key factors boosting the growth of the market are increasing adoption of artificial intelligence solutions across a broad range of industries, the rise in demand for analyzing and interpreting large amounts of data, as well as development and acceptance of technologically advanced artificial intelligence solutions for upgrading consumer services. On the Basis of Solution, Hardware Is Expected to Exhibit the Highest Cagr Through 2025 Surging demand from several industries such as retail, BFSI, healthcare, automotive and transportation, media and advertising, and manufacturing worldwide has led to a burgeoning market growth of hardware solution. This segment typically includes chipsets such as central processing units, graphics processing units, application specific integrated circuits, as well as the field-programmable gate array. Apart from this, the technological advancements, such as superior computing power, parallel computation capabilities, and more storage capacity in AI-enabled hardware products are further likely to drive the growth of this segment.