Key Questions Answered in this Report: • What is the estimated global artificial intelligence in agriculture market size in terms of value during the period 2018-2024? Global Artificial Intelligence (AI) in Agriculture Market Forecast, 2019-2024 The Global Artificial Intelligence (AI) in Agriculture Market Analysis projects the market to grow at a significant CAGR of 28.38% during the forecast period from 2019 to 2024. The reported growth in the market is expected to be driven by the increasing need to optimize farm operation planning, growing demand to derive insights from emerging complexities of data-driven farming, and rising development of autonomous equipment in agriculture. Artificial intelligence has emerged to be a strong driving force behind the growth of data-driven farming.Regions and countries where agriculture is the major source of livelihood and sustenance, the artificial intelligence technology has led to greater profitability in the farms of those economies. The reduction in expenditure and resultant positive RoI with AI's integration in farm equipment and operations has even reached above 30% in a few countries.
GNW • Which global factors are expected to impact the artificial intelligence market for automotive and transportation industry in the future? What are the key market strategies being adopted by them? Global Artificial Intelligence Market for Automotive and Transportation Industry Forecast, 2019-2029 In terms of value, the global artificial intelligence market for automotive and transportation industry is expected to grow at a CAGR of 13.12% during the forecast period 2019-2029. The growth in the market is attributable to the ongoing demand for innovative and technologically advanced automotive solutions. Moreover, intelligent solutions which reduce the incidences of human mistakes while driving, along with providing additional features for enhancing ease-of-driving, have driven the market.
The global artificial intelligence in fashion market accounted for US$ 270.0 Mn in 2018 and is expected to grow at a CAGR of 36.9% over the forecast period 2019-2027, to account for US$ 4,391.7 Mn in 2027. Driving factors such as availability of massive amount of data due to increasing proliferation of digital services across the globe, and real time consumer behavior insights and increased operational efficiency are driving the adoption of AI in fashion industry will drive the market during the forecast period and have a high impact in the short term. However, factors such as concerns related to data privacy and security is anticipated to hinder the market growth in the coming years. AI integration in fashion plays a crucial role in sales, marketing, and customer-focused purposes.Initial adopters point toward the key impacts of technology in improving customer experience and decent growth in company revenue. Elevated customer experience helps the retailer to crack entirely new tactics of customer engagement and communication.With AI integration, the retailers can precisely spot the customers' expected needs at precise times and offer the appropriate product to gain a competitive advantage.
GNW The global artificial intelligence (AI) in retail market attained $720.0 million in 2018 and is predicted to witness a CAGR of 35.4% during 2019–2024 (forecast period). The factors contributing to the growth of the market include the increasing investments in AI by retail companies and expanding e-retail industry. With AI, retailers have been able to automate their work processes, study consumer behavior, and capture relevant data through the adoption of numerous advanced technologies, such as machine learning, natural language processing (NLP), and computer vision. When technology is considered, the AI in retail market is divided into computer vision, NLP, machine learning, and others (which include gesture recognition and analytics). Machine learning generated the highest revenue during the historical period (2014–2018) and is expected to dominate the market during the forecast period as well.
Growing number of cross-industry collaborations and partnerships and the need to control drug discovery & development costs and reduce the overall time taken in this process are the key factors driving the AI in the drug discovery market. The global AI in the drug discovery market is projected to reach USD 1,434 million by 2024 from USD 259 million in 2019, at a CAGR of 40.8% during the forecast period. Growth in this market is mainly driven by growing number of cross-industry collaborations and partnerships, the need to control drug discovery & development costs and reduce the overall time taken in this process, the rising adoption of cloud-based applications & services, and the impending patent expiry of blockbuster drugs. On the other hand, a lack of data sets in the field of drug discovery and the inadequate availability of skilled labor are some of the factors challenging the growth of the market. The immuno-oncology segment accounted for the largest share in 2019.