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 a new report by Grand View Research, Inc.
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.
The two major factors enabling
market growth are emerging AI technologies and growth in big data espousal. The
growing prominence of artificial intelligence is enabling new players to
venture into the market by offering niche application-specific solutions.
Furthermore, companies are also engaging in industry consolidations in a bid to
gain competitive advantages. For instance, in January 2017, Microsoft
Corporation acquired Maluuba for advancing in the deep learning and Artificial
Intelligence (AI) landscape. Existing solution providers are innovating their
product portfolio to include both hardware and software solutions.
The Asia Pacific regional market
is expected to be the fastest-growing market, owing to the rapid improvements
in information storage capacity, high computing power, and parallel processing,
which have contributed to the swift uptake of artificial intelligence
technology in end-use industries such as automotive and healthcare.
AI has the potential to reduce
the burden on clinicians and provide an efficient tool to workforces for
accomplishing their tasks in a better way. For instance, AI voice-enabled
symptom checkers can better access a situation and assist patients to the
emergency department when immediate treatment is required. AI is expected to
resolve around 20% of unmet healthcare demands.
Artificial Intelligence - Direct & Enabled Revenue,
2014 - 2025 (USD Million)
Browse full research report on Artificial
Intelligence Market
Further key findings from the report suggest:
- Growth in the
volume of data being generated from different end-use industries is
expected to provide traction to the technology adoption
- The
increasing adoption of image and pattern recognition in the Asia-Pacific
region is expected to provide new growth opportunities over the forecast
period.
- The North
America region is one of the early adopters of advanced technologies and
renders organizations to adopt artificial intelligence capabilities at a
faster pace.
- The
increasing amount of digital data (in the form of speech, videos, and
images, from different social media sources such as IoT and consumer
analytics) is driving the need for data mining and analytics. AI is
extensively used by several media and online services such as Google
Assistant, dialogue and voice recognition of Siri, Microsoft Cortana, image
classification in Facebook & Google Photo, and Amazon’s Alexa.
- The key
industry participants include Atomwise, Inc., Lifegraph, Sense.ly, Inc.,
Zebra Medical Vision, Inc., Baidu, Inc., H2O ai, IBM Watson Health,
NVIDIA, Enlitic, Inc., Google, Inc., Intel Corporation, and Microsoft
Corporation.
For more information: http://www.grandviewresearch.com
No comments:
Post a Comment