Based on sports type, the football segment held the highest market share in 2020, holding more than one-fourth of the global artificial intelligence in sports market, and is projected to maintain its leadership status during the forecast period. This is attributed to adoption of IoT devices such as sensors, GPS trackers, and computer vision algorithms to track movement of players and balls. However, the basketball segment is expected to manifest the fastest CAGR of 35.0% from 2021 to 2030, owing to usefulness of AI in-game analysis for identifying trends and analyzing innumerable variations of plays such as pick-and-rolls.

Also, the use of AR and VR in designing & assembling phase is benefitting automotive companies significantly. For example, designing and visualizing the vehicle in AR and VR technology assists designers in visualizing the body structure of a vehicle to improve efficiency, safety, and durability. Allied Market Research recently published a report, titled, "Automotive AR and VR Market by Type (Augmented Reality (AR) and Virtual Reality (VR)) and Application (Research & Development, Manufacturing & Supply, Marketing & sales, Aftersales, Support Functions, and Product): Global Opportunity Analysis and Industry Forecast, 2018 - 2025". According to the report, the global automotive AR and VR market was valued at $213.0 million in 2017 and is expected to reach $673.60 billion by 2025, growing at a CAGR of 175.7% during the forecast period.

Portland, OR, Sept. 30, 2021 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global AI in Healthcare Market generated $8.23 billion in 2020, and is estimated to reach $194.4 billion by 2030, growing at a CAGR of 38.1% from 2021 to 2030. The report offers an in-depth analysis of the market size, emerging and current trends, future estimations, and key players. Development in computing power, reduction in hardware costs, surge in a number of cross-industry collaborations, partnerships, and increase in the imbalance between the health workforce and patients are the factors that drive the growth of the global AI in healthcare market. Rise of advanced hardware systems will improve the efficiency and effectiveness of AI software, and hence open many doors of opportunities to the market players. However, limited acceptance from healthcare professionals, owing to the risk of injury and misinterpretation is anticipated to hamper the growth of global AI in healthcare market.

Allied Market Research recently published a report, titled, "Artificial Intelligence Chip Market by Chip Type (GPU, ASIC, FPGA, CPU, and others), Application (Natural Language Processing (NLP), Robotic, Computer Vision, Network Security, and Others), Technology (System-on-Chip, System-in-Package, Multi-chip Module, and Others), Processing Type (Edge and Cloud), and Industry Vertical (Media & Advertising, BFSI, IT & Telecom, Retail, Healthcare, Automotive & Transportation, and Others): Global Opportunity Analysis and Industry Forecast, 2019-2025". According to the report, the global AI chip market was pegged at $6.64 billion in 2018 and is projected to attain $91.18 billion by 2025, registering a colossal CAGR of 45.2% during the forecast period. Rise in demand for smart homes & smart cities, surge in investments in AI startups, and advent of quantum computing have boosted the growth of the global AI chip market. However, dearth of skilled workforce hampers the market growth. On the contrary, rapid adoption of AI chips in the emerging countries and development of smart robots are expected to create numerous opportunities in the near future.

Allied Market Research recently published a report, titled, "Automotive Artificial Intelligence Market by Component (Hardware, Software, and Service), Technology (Machine Learning & Deep Learning, Computer Vision, and Natural Language Processing), and Application (Semi-Autonomous and Autonomous): Global Opportunity Analysis and Industry Forecast, 2017 – 2025." The report offers a detailed analysis of top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, key segments, and changing market trends. According to the report, the automotive AI market was pegged at $445.81 million in 2017 and is anticipated to hit $8.89 billion by 2025, registering a CAGR of 45.0% from 2018 to 2025. Rise in demand for enhanced user experience as well as convenience features and growing demand for autonomous vehicle have fueled the growth of the global automotive AI market. On the other hand, rise in various security & privacy concerns hamper the growth to certain extent.

In 2016, North America dominated the global market, in terms of revenue, accounting for about 49.0% share of the global market, followed by Europe. AI is associated to human intelligence with similar characteristics such as language understanding, reasoning, learning, problem solving, and other. The market for artificial intelligence is primarily driven by the improved productivity, diversified application areas, increased customer satisfaction, and big data integration. However, lack of skilled workforce and threat to human dignity & other threats are some of the restraints of the market. Nonetheless, the impact of these factors is expected to be minimal due to the introduction of new technologies in the market.

AI involves the science and engineering of intelligent computer programs. It uses various computer functions such reasoning, learning and problem solving based on human intelligence. AI systems can be used in various disciplines such as biology, computer science, mathematics, linguistics, psychology, and engineering to build an intelligent system. Some of the different applications that incorporate the AI systems in healthcare fields are medication management, treatment plans, and drug discovery. The global the AI market is driven by the ability of AI to improve patient outcomes, increase in need for coordination between healthcare workforce & patients, rise in adoption of precision medicine, and remarkable growth in venture capital investments.

AI involves the science and engineering of intelligent computer programs. It uses various computer functions such reasoning, learning and problem solving based on human intelligence. AI systems can be used in various disciplines such as biology, computer science, mathematics, linguistics, psychology, and engineering to build an intelligent system. Some of the different applications that incorporate the AI systems in healthcare fields are medication management, treatment plans, and drug discovery. The global the AI market is driven by the ability of AI to improve patient outcomes, increase in need for coordination between healthcare workforce & patients, rise in adoption of precision medicine, and remarkable growth in venture capital investments.

AI involves the science and engineering of intelligent computer programs. It uses various computer functions such reasoning, learning and problem solving based on human intelligence. AI systems can be used in various disciplines such as biology, computer science, mathematics, linguistics, psychology, and engineering to build an intelligent system. Some of the different applications that incorporate the AI systems in healthcare fields are medication management, treatment plans, and drug discovery. The global the AI in Healthcare market is driven by the ability of AI to improve patient outcomes, increase in need for coordination between healthcare workforce & patients, rise in adoption of precision medicine, and remarkable growth in venture capital investments.

Machine learning chip is widely used across the applications such as robotics, healthcare, automotive, and consumer electronics. At present, rising demand for automated electronic devices and trending Artificial Intelligence (AI) are some factors that majorly drive the market. Moreover, popularity of Internet of Things (IoT) is expected to provide lucrative opportunities to market players.