Artificial Intelligence Market accounted for USD 16.14 billion and is projected to grow at a CAGR of 37.3% the forecast period of 2020 to 2025. Artificial Intelligence (AI) is a creation of wise and smart machines that work, respond and react like people. It is utilized to enhance the proficiency of day by day undertakings.
Key Players: Global Artificial Intelligence Market
The renowned players in artificial intelligence market are Welltok, Inc., Intel Corporation, Nvidia Corporation, Google Inc., IBM Corporation, Microsoft Corporation, General Vision, Enlitic, Inc., Next IT Corporation, iCarbonX, Amazon Web Services, Apple, Facebook Inc., Siemens, General Electric, Micron Technology, Samsung, Xillinx, Iteris, Atomwise, Inc., Lifegraph, Sense.ly, Inc., Zebra Medical Vision, Inc., Baidu, Inc., H2O ai, Enlitic, Inc. and Raven Industries.
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Advancing innovation, selection of robots and drones, driverless tractors, crop health checking, and automated water system framework are a part of the applications that credited to the high development of the global artificial intelligence in agriculture AIA showcase.
Market Segmentation: Global Artificial Intelligence Market
The global artificial intelligence market is based on offering, technology, type, application, end-user industry, and geographical segments.
- Based on offering, the global artificial intelligence market can be segmented into hardware, software and services.
- Based on technology, the global artificial intelligence market can be segmented into machine learning, natural language processing, context-aware computing, and computer vision.
- Based on type, the global artificial intelligence market can be segmented into artificial neural network, digital assistance system, embedded system, expert system and automated robotic system.
- Based on application, the global artificial intelligence market can be segmented into deep learning, smart robots, image recognition, digital personal assistant, querying method, language processing, gesture control, video analysis, speech recognition, context aware processing, and cyber security.
- Based on end-user industry, the global artificial intelligence market can be segmented into healthcare, manufacturing, automotive, agriculture, retail, security, human resources, marketing, law and fintech.
Competitive Analysis: Global Artificial Intelligence Market
The global artificial intelligence market is fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market in order to sustain in long run. The report includes market shares of artificial intelligence market for global, Europe, North America, Asia Pacific and South America.
Market Drivers and Restraints:
- High Information and data storage capacity
- High computing power and parallel processing capabilities.
- Increasing number of AI applications and adoption of these applications in various segments.
- Lack of people power
- Data inefficiency in building proper AI algorithms.
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