DUBLIN--(BUSINESS WIRE)--Research and Markets has announced the addition of the "Artificial Intelligence Market by Technology (Deep Learning, Robotics, Digital Personal Assistant, Querying Method, Natural Language Processing, Context Aware Processing), Offering, End-User Industry, and Geography - Global Forecast to 2022" report to their offering.
According to the new market research report on artificial intelligence, this market is expected to be worth USD 16.06 billion by 2022, growing at a CAGR of 62.9% from 2016 to 2022.
The growth of the artificial intelligence market can be attributed to the growing application of artificial intelligence in various industries and the increasing adoption of AI for improving consumer service. However, the lack of availability of low-cost and energy-efficient hardware, especially high-speed computing hardware, is hindering the growth of AI market
The market for natural language processing (NLP) is expected to witness fastest CAGR from 2016 to 2022. The growing adoption of NLP in various applications such as AI-powered robots, smartphones, car-infotainment systems, navigation systems, and personal assistant systems, among others is largely driving its growth. Moreover, the deep learning technology is likely to grow at the second-highest CAGR from 2016 to 2022. The growing penetration of deep learning algorithms for myriad AI applications such as voice recognition, fraud detection, voice search, recommendation engines, sentiment analysis, image recognition, and motion detection, among others is mainly driving its market growth.
The artificial intelligence market for the transportation and automotive sector held the largest market share compared to other end-user industries in 2015. The use of various AI technologies such as machine learning, natural language processing, image processing, and speech recognition for self-driving cars and the development of human-machine interface systems would drive in the growth of this segment.
Moreover, the presence of key industry players such as Google Inc. (U.S), IBM Corporation (U.S.), NVIDIA Corporation (U.S.), and Microsoft Corporation (U.S.) which are engaged in R&D and new product launches of AI-enabled products is further fuelling its market growth.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Industry Trends
7 Artificial Intelligence Market, By Technology
8 Artificial Intelligence Market, By Offering
9 Artificial Intelligence Market, By End-User Industry
10 Geographic Analysis
11 Competitive Landscape
12 Company Profiles
- Fingenius Limited
- General Vision, Inc.
- Google Inc.
- IBM Corporation
- Inbenta Technologies, Inc.
- Intel Corporation
- Microsoft Corporation
- Numenta, Inc.
- Nvidia Corporation
- Sentient Technologies Holdings Ltd.
For more information about this report visit http://www.researchandmarkets.com/research/9q3fsl/artificial