DUBLIN--(BUSINESS WIRE)--The "Artificial Intelligence Global Market Report 2020-30: COVID-19 Growth and Change" report has been added to ResearchAndMarkets.com's offering.
This report provides the strategists, marketers and senior management with the critical information they need to assess the global artificial intelligence market.
The global artificial intelligence market is expected to grow from $28.42 billion in 2019 to $40.74 billion in 2020 at a compound annual growth rate (CAGR) of 43.39%. The growth is mainly due to the COVID-19 health emergency across the globe that has led to a new wave of transformative technologies including the revolutionary artificial intelligence technology (for example - smart machines and robots) emerging as a possible solution to contain the epidemic. The market is then expected to recover and reach $99.94 billion in 2023 at CAGR of 34.86%.
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North America was the largest region in the artificial intelligence market in 2019. Asia Pacific is expected to be the fastest growing region in the forecast period.
The artificial intelligence market covered in this report is segmented by offering into hardware; software; services. It is also segmented by technology into machine learning; natural language processing; context-aware computing; computer vision; others (image processing, speech recognition) and by end-user industry into healthcare; automotive; agriculture; retail; marketing; telecommunication; defense; aerospace; media & entertainment; others.
The limited number of AI Experts is a major challenge to the artificial intelligence market. To develop the AI software the company needs AI experts, practitioners, and researchers. According to the research report by Tencent in 2017, a Chinese tech giant, there are 300k AI researchers and practitioners worldwide but the market demand is around millions of roles. The limited number of AI experts may impact the growth of the artificial intelligence market.
Growing investment in AI technologies contributed to the growth of the artificial intelligence market. Many companies are investing in AI technologies or AU start-ups to increase the efficiency of AI software as AI enables them make more informed decisions and achieve better results. For instance, Microsoft has invested around $1 billion in OpenAI a San Francisco company. The two companies had formed a partnership to develop AI supercomputing technologies on Microsoft's cloud Azure. AI is useful across multiple sectors. For instance, AI can lead to breakthroughs in R&D and diagnostics in healthcare sector. It can help make better forecasts in finance, manufacturing, and can increase production controls and efficiency. Therefore, the rise in investment in AI technologies due to its advantages in every sector is driving the growth of the artificial intelligence market.
Key Topics Covered:
1. Executive Summary
2. Artificial Intelligence Market Characteristics
3. Artificial Intelligence Market Size And Growth
3.1. Global Artificial Intelligence Historic Market, 2015 - 2019, $ Billion
3.1.1. Drivers Of The Market
3.1.2. Restraints On The Market
3.2. Global Artificial Intelligence Forecast Market, 2019 - 2023F, 2025F, 2030F, $ Billion
3.2.1. Drivers Of The Market
3.2.2. Restraints On the Market
4. Artificial Intelligence Market Segmentation
4.1. Global Artificial Intelligence Market, Segmentation By Offering, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
4.2. Global Artificial Intelligence Market, Segmentation By Technology, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
4.3. Global Artificial Intelligence Market, Segmentation By End-user Industry, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
5. Artificial Intelligence Market Regional And Country Analysis
5.1. Global Artificial Intelligence Market, Split By Region, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
5.2. Global Artificial Intelligence Market, Split By Country, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
- Apple Inc.
- NVIDIA corporation
- Samsung Electronics Co.Ltd
- MicroStrategy Inc.
- Qlik Technologies Inc
- Verint Systems Inc (Next IT Corp)
- Qualcomm Technologies
- Micron Technology
- Xilinx Inc
- Intel corporation
- ARM Holding
- Advanced Micro Devices Inc
- Huawei Technologies Co.Ltd
- Megvii Technology
- Albert Technologies
For more information about this report visit https://www.researchandmarkets.com/r/dbnp82