Latest Trends in the Artificial Intelligence Market and their Effect on Prospective Opportunities

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Artificial Intelligence Market 2 Global Opportunity Analysis and Industry Forecast, 2014 - 2022

Publish Date : Nov 2016

No of Pages: 127

Introduction Allied Market Research has published the global artificial intelligence market report, to present the latest insights on opportunities and trends as observed over the study period 2015–2022. It projects that the global market revenue would reach $19,478 million by the end of 2022. The industry is expected to register a CAGR of 45.4% throughout the forecast period 2016–2022. Experts attribute this remarkable growth rate within market channels to the enhanced productivity and customer satisfaction across diverse application verticals of AI. In addition, the immense scope of possibilities that comes with the integration of big data with AI drives the industry vendors to diversify their developmental approach. Among the covered geographical regions, North America is expected to emerge as the largest avenue of business in terms of revenue and volume over the forecast period.

Current and Future Market Scenario • The rapid rate of adoption of machine learning in BFSI segment is expected to deliver a significant boost to the global AI industry growth.

• As per the base year estimations, BFSI industry was the highest revenue-generating vertical owing to the increased employment of AI technology for efficient fraud detection and personalization.

• The global AI market report projects North America to exhibit the highest compound annual growth rate during the forecast period.

• The leading industry players readjust their focus on research collaborations, technology co-operation, and strategic partnerships to offer innovative products, services, and solutions to increase their total market share.

Factors Contributing to Market Growth The global artificial intelligence market report presents a detailed discussion on the various segments that are covered within its scope. Based on technology, the study is segmented into machine learning, natural language processing, image processing and speech recognition. Out of these, machine learning was held accountable for the highest market share in 2015, while the speech recognition sector is anticipated to register the highest growth rate.

Based on the industry verticals, the report is classified into media & advertising, BFSI, IT & telecom, retail, healthcare, and automotive & transportation. Among these, trends indicate the expected market dominance of BFSI in the global scenario. The collective CAGR of distributed sectors, such as agriculture, educational institutions, and law, is anticipated to remain greater than individual growth of the rest of the segments throughout the forecast period.

Artificial Intelligence Market- Segment Overview

Artificial Intelligence Market – Top Impacting factors

Region Overview • Asia-Pacific is estimated to be the fastest growing region due to an increase in the adoption of machine learning and extensive growth in Japan, China, Australia, and India.

• Based on the analysis of geographical regions, Asia-Pacific exhibits the tendency to surface as the fastest growing region.

• Analysts relate this prospect of progress with the considerable increase in adoption of machine learning and the extensive growth of countries such as Japan, China, Australia, and India.

Leading Players • The global artificial intelligence market report compiles the in-depth company profiles of the leading industry players such as include Google Inc., Microsoft Corporation, IPsoft, IBM Corp.

• It includes their operational segments, product portfolio, financial performance, geographical outreach, and strategic business moves.

• The latter segment reveals the latest AI market news, with focus on research & development, product launch, collaboration, co-operation, partnership, and acquisition.

• Readers can get a fair idea of the prevalent competitive scenario within the industry. The study forms a valuable source of reference for the existing competitors, new entrants, business-owners, and stakeholders.

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