ARTIFICIAL INTELLIGENCE MARKET
OVERVIEW The global artificial intelligence market size is expected to reach $169,411.8 million in 2025 Artificial intelligence has been one of the fastestgrowing technologies in recent years AI has characteristics such as language understanding, reasoning, learning, problem solving, and others The rise in number of innovative start-ups and advancements in technology have led to increase in investment in artificial intelligence technologies North America is projected as one of the fastest growing region in the artificial intelligence market
KEY FACTORS OF THE MARKET The market for artificial intelligence is primarily driven by the improved productivity, diversified application areas, increased customer satisfaction, and big data integration. Moreover, various new startups are investing in AI technologies, as demand for cloud applications is increasing to analyze large amount of data. Further, it is projected to generate the highest market revenue over the forecast period with predominant deployments in the IT & telecom and BFSI industries.
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Key Benefits of the Market In 2016, the IT & Telecom segment dominated the global artificial intelligence market, in terms of revenue, and is projected to grow at a CAGR of 56.7% during the forecast period The machine learning segment is projected to grow at a CAGR of 56.4% during the forecast period
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North America is projected as one of the fastest growing region in the artificial intelligence market and is expected to witness high growth rate.
Market Segmentation
KEY PLAYERS OF THE MARKET Alphabet (Google Inc.), Apple Inc., Baidu, IBM, IPsoft, Microsoft Corporation, MicroStrategy, Inc, NVIDIA, Qlik Technologies Inc., Verint Systems Inc(Next IT Corp)
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