Global Artificial Intelligence (AI) Market Outlook Market Overview In the era of digitalization and rapidly changing technology, Artificial intelligence technology is one the fastest evolving technology across the globe. Further this technology has vast applications in various sectors like healthcare and manufacturing. Artificial intelligence has potential to lift various industries by reducing the human effort and increasing productivity. The AI technology will transform the functionality of various sectors such as agriculture, Industrial, BFSI, Healthcare among others by providing ease to consumers and the users. Artificial intelligence consists of various technologies such as natural language processing, quarrying, deep learning etc which can be implemented in various applications.
The global artificial intelligence market is expected to reach USD 35,870.0 million by 2025 from its direct revenue sources, growing at a CAGR of 57.2% from 2017 to 2025, whereas it is expected to garner around USD 58,975.4 million by 2025 from its enabled revenue arenas, according to this new report. Artificial Intelligence (AI) is considered to be the next stupendous technological development, alike past developments such as the revolution of industries, the computer era, and the emergence of smartphone technology. The North American region is expected to dominate the industry due to the availability of high government funding, the presence of leading players, and strong technical base. Advances in image and voice recognition are driving the growth of the artificial intelligence market as improved image recognition technology is critical to offer enhanced drones, self-driving cars, and robotics. The AI market can be categorized based on solutions, technologies, end use, and geography.
According to the new market research report "Artificial Intelligence Market by Offering (Hardware, Software, Services), Technology (Machine Learning, Natural Language Processing, Context-Aware Computing, Computer Vision), End-User Industry, and Geography - Global Forecast to 2025", published by MarketsandMarkets, the Artificial Intelligence Market is expected to be valued at USD 21.5 billion in 2018 and is likely to reach USD 190.6 billion by 2025, at a CAGR of 36.6% during the forecast period. Major drivers for the market are growing big data, the increasing adoption of cloud-based applications and services, and an increase in demand for intelligent virtual assistants. The major restraint for the market is the limited number of AI technology experts. Critical challenges facing the AI market include concerns regarding data privacy and the unreliability of AI algorithms. Underlying opportunities in the artificial intelligence market include improving operational efficiency in the manufacturing industry and the adoption of AI to improve customer service.
Germany Market Analysis Table 35: German Recent Past, Current & Future Analysis for Artificial Intelligence Analyzed with Annual Revenue Figures in US$ Million for Years 2015 through 2024 (includes corresponding Graph/Chart) 9.4.3 Italy Market Analysis Table 36: Italian Recent Past, Current & Future Analysis for Artificial Intelligence Analyzed with Annual Revenue Figures in US$ Million for Years 2015 through 2024 (includes corresponding Graph/Chart) 9.4.4
Artificial Intelligence Software Market is expected to grow at a Compound Annual Growth Rate (CAGR) of 40%. Houston,TX -- (SBWIRE) -- 02/20/2019 -- The growth of innovative start-ups and the development of technology have increased investment in artificial intelligence technologies. In addition, as demand for analyzing and interpreting large amounts of data increases, the demand for AI solutions is increasing. In addition, the development of a more reliable cloud computing infrastructure and the improvement of dynamic artificial intelligence solutions have a significant impact on the growth potential of the AI market. However, lack of trained and experienced staff can hinder the growth of the AI market.