The new report by Expert Market Research titled, ‘Global Artificial Intelligence Market Size, Share, Price, Trends, Growth, Report and Forecast 2020-2025’, gives an in-depth analysis of the global artificial intelligence market, assessing the market based on its segments like the solutions, technologies, types, end-uses, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analyzing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2015-2025)
• Historical Market Size (2019): USD 1.2 trillion
• Forecast CAGR (2020-2025): 23%
• Forecast Market Size (2025): USD 6 trillion
Artificial intelligence processes are more effective in comparison to manual processes, and provide the user personalised feedback, and helps in tracking real-time organisational performance. These advantages of artificial intelligence solutions have led to its rising adoption across workspaces. The increasing adoption of cloud-based AI solutions owing to cost-effectiveness is adding to the market growth. Artificial intelligence finds its application in a wide variety of industries such as healthcare, retail, automotive, finance, and manufacturing. The rising number of start-ups who are generally reliant on artificial intelligence are propelling the market growth. Furthermore, technological advancements taking place in the industry are expected to aid the market in the coming years.
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Industry Definition and Major Segments
Artificial intelligence (AI) is the technology demonstrated by machine intelligence capable of performing tasks that usually require human understanding, such as speech recognition, decision-making, visual perception, and language translation. Rationalising and taking actions that result in the best chances of achieving a specific goal is the ideal characteristic feature of artificial intelligence.
By solution, the market can be divided into:
Based on technology, the market can be segmented into:
• Machine Learning
• Natural Language Processing (NLP)
• Context-Aware Computing
• Computer Vision
Based on type, the market can be categorised into:
• Narrow/Week AI
• General/Strong AI
By end-use, the market is segmented into:
The regional markets can be divided into:
1 North America
1.1 United States of America
2.2 United Kingdom
3 Asia Pacific
4 Latin America
5 Middle East & Africa
5.1 Saudi Arabia
5.2 United Arab Emirates
5.4 South Africa
Artificial intelligence is finding a growing consumer base across various industries such as weather forecasts, autonomous cars, space explorations, and other technological advancements. Artificial intelligence also found its application in the healthcare sector for analysing large genomic data sets and assisting to provide accurate treatment. Its employment was found beneficial in researching, tracking, and treating COVID-19 cases. Artificial intelligence is also being used in automobiles to enable self-diagnosis repair systems. The combination of digital twins, AI, and IoT is gaining popularity in supply chain logistics. Thus, the rising integration of artificial intelligence across various industries is expected to aid the market growth. The increasing investments in artificial intelligence by several corporate players are expected to drive the market in the forecast period.
Key Market Players
The major players in the market are Google LLC (NASDAQ: GOOGL), Microsoft Corporation (NASDAQ: MSFT), IBM Corporation (NYSE: IBM), Intel Corporation (NASDAQ: INTC), Cisco Systems, Inc. (NASDAQ: CSCO), Apple Inc. (NASDAQ: AAPL), NVIDIA Corporation (NASDAQ: NVDA), and others. The report covers the market shares, capacities, plant turnarounds, expansions, investments, and mergers and acquisitions, among other latest developments of these market players.
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Note 2: As the novel coronavirus (COVID-19) continues to spread across the world, our analysts are constantly tracking the impact of this rapidly evolving situation on the markets and the consumer purchase behaviours. Thus, our latest estimates and analysis about the current market trends and forecast will exhaustively reflect the effects of this emerging pandemic.
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