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Value Visibility Global Artificial Intelligence (AI) Market Outlook 2024: Global Opportunity & Growth Analysis, 2016-2024
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Report Code :AFT 1078
2016-2024
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Executive Summary
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Global Artificial Intelligence (AI) Market Share (%), By Region-2016-2024
Global Artificial Intelligence (AI) Market Size USD (Billion). 2016-2024
XX%
CAGR: (2016-2024)
8% 7%
7%8% 33% 25% 2016
e l p
2024
27%
27%
2016
2017
2018
2019
2020
Source: Goldstein Research
In 2016,
2021
2022
2023
2024
m a S
Machine Learning accounted for the highest market share XX% in Global Artificial Intelligence (AI) Market Global Artificial Intelligence (AI) Market Share (%), By Technology-2016
XX% XX%
XX%
Speech Recognition
XX%
Machine Learning Platform s
XX%
XX%
XX%
XX%
Decision Managem ent
Deep Learning Platform s
XX%
Robotic Process Autom ation
XX%
North America
Consumer Electronics
Global Artificial Intelligence (AI) Market Share (%), By Use Case-2016 Algorithm ic trading strategy perform ance im provem ent Static im age recognition, classification, and tagging
Healthcare
XX% Manufacturing
Logistics & Transporatation
Energy & Utilities
Agriculture
XX%XX%
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Efficient, scalable processing of patient data
XX%
Predictive m aintenance
XX%
Content distribution on social m edia
XX%
XX%
XX% XX%
Other (Education, etc)
XX% XX%
XX%
Text query of im ages Autom ated geophysical feature detection Object identification, detection, classification, tracking from geospatial im ages Object detection and classification - avoidance, navigation Contract analysis
Text Analytics and NLP
Source: Goldstein Research
Middle East & Africa
With share in 2016, region dominated the Global Artificial Intelligence (AI) Market
XX%
Biom etrics
XX%
Latin America
Source: Goldstein Research
XX%
AI-optim ized Hardware
28%
Europe
XX%
XX%
Virtual Agents
XX%
Asia-Pacific
Global Artificial Intelligence (AI) Market Share (%), By Vertical Industry-2016
Natural Language Generation
XX%
North America
30%
Others
Source: Goldstein Research
Source: Goldstein Research
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Major Players/ Industries
Major Players Presence-Regional Analysis
APAC
North America
Europe
Latin America
Middle East & Africa
Google Inc. Microsoft Corporation IBM Corp. IPsoft Rocket Fuel Inc. Qlik Technologies Inc. MicroStrategy, Inc. Brighterion, Inc. 24/7 Customer, Inc.
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High Penetration
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Medium Penetration
Low Penetration
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Global Artificial Intelligence (AI) Market Size (USD Billion) & Y-O-Y Growth Analysis
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Global Artificial Intelligence (AI) Market Size (USD Billion)-2016-2024 XX
XX
XX% XX%
XX
XX
XX%
XX
XX
e l p
XX%
XX
XX% XX% XX% XX% XX% XX% XX% XX% XX% XX%
XX
XX
XX%
XX
XX XX
XX
XX
XX XX
Global Artificial Intelligence (AI) Y-O-Y Growth (%) Analysis-2016-2024
XX
XX%
m a S
XX%
XX
XX% XX%
XX
XX%
2016
XX
2016
2017
2018
Source: Goldstein Research
2019
2020
2021
2022
2023
2024
2017
2018
2019
2020
2021
2022
2023
Source: Goldstein Research
Artificial Intelligence Market applications, powered by an influx of big data and advancements in computing power, are positioned to transform major sectors, while simultaneously creating new industries. AI is expected to contribute up to USD XX trillion to global GDP by 2024 The AI industry has the capability to not only augment and improve, but also to replace many tasks that have been historically executed by humans. Simultaneously, AI will create many new jobs that are yet to be identified. According to the U.S. Department of Labor, “65% of the school children [in 2016] will be eventually employed in jobs that have yet to be created.” New technologies and innovations in AI will transform most consumer, enterprise and government markets around the world. However, the commercial uses for AI applications are still nascent and ripe for investment. As such, the industry is attracting strong interest from a broad range of investors Copyright
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2024
Market Dynamics
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Growth Drivers
Growth Barriers
Digitally Mature AI Adopters Lack of Awareness About AIpowered applications
Led By Tech Giants
Slow Pace Of Digital And Analytics Transformation Of The Economy
General Trend
Highly Complex
Moderately Complex Artificial Intelligence (AI)
Waived
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Growth Drivers
Firms And Industries Already On The Digital Frontier Are Adopting AI
Penetration Rate (%) of AI in Various Verticals, 2016
Investors are pouring billions of dollars into AI companies based on the hope that a market of AI adopters will develop fairly quickly and will be willing to pay for AI infrastructure, platforms, and services Clearly, Amazon, Google, and other digital natives are investing for their own applications, such as optimizing searches and personalizing marketing
Employment & Workplace Public Safety & Security
e l p
Early adopters are not specializing in one type of technology. They go broader as they adopt multiple AI tools addressing a number of different use cases at the same time
m a S Future Drivers of Artificial Intelligence
Large-scale machine learning Computer vision
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Deep learning
Reinforcement learning
Robotics
Natural Language Processing
Collaborative systems
Crowdsourcing and human computation
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XX%
Low Resource Communities
Independently of sectors, large companies tend to invest in AI faster at scale. This again is typical of digital adoption, in which, for instance, small and midsized businesses have typically lagged behind in their decision to invest in new technologies
Automotive and assembly is also highly ranked. It was one of the first sectors that implemented advanced robotics at scale for manufacturing, and today is also using AI technologies to develop self-driving cars
XX%
XX%
Education
XX%
Healthcare
XX%
Home/Service Robots
XX%
Transportation
Source: Goldstein Research
XX% 0%
10%
20%
30%
40%
50%
Impact Analysis: Autonomous transportation will soon be commonplace and, as most people’s first experience with physically embodied AI systems, will strongly influence the public’s perception of AI. As cars become better drivers than people, city-dwellers will own fewer cars, live further from work, and spend time differently, leading to an entirely new urban organization Healthcare is one of the largest and most rapidly growing segments of AI, driven predominantly by innovation in clinical research, robotic personal assistants and big data analytics. Healthcare is poised to accelerate investments in AI over the next few years
High
Medium
Impact on Artificial Intelligence (AI) Market www.goldsteinresearch.com
Low
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Adoption of Artificial Intelligence Technology
Investment (Billion USD) In AI Technology by BSFI Industry and Number of Deals (2011-2017) 4.5
600
4 3.5 3 2.5 2 1.5 1 0.5 0 2011
2012
m a S 2013
2014
2015
e l p 2016
500 400 300 200 100 0
2017
According to Goldstein Research, 2016 was a record year in terms of total Artificial Intelligence venture financing deals and in dollar volume (200 AI venture financing deals had been completed from January to June 2016 totaling $1.5B). 2015 saw 397 AI venture financings totaling USD 2.3B. Most of the deals are at a series B or C stage, indicating that startups in this space are beginning to see success. In the Financial Services industry, firms like Goldman Sachs, JPMorgan and Barclays have taken major steps towards implementing AI in different areas Artificial Intelligence has already made an important impact on the investment industry, and is expected to go much further, especially with the rise of robo-advising. With advancements in Machine Learning[6], many expect machines to soon outperform even the most sophisticated human financial advisors. That, along with the simplicity that comes with roboadvising, has many believing that machines and algorithms will manage over $2 trillion dollars by 2020 Copyright
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Impact Analysis of Artificial Intelligence (AI) on End-User Industry Factors Impacting Global Artificial Intelligence (AI
) Industry
XX%
XX% XX%
Artificial Intelligence (AI) Market Impact Analysis by End User
XX%
m a S XX%
Transportation
Energy & Utilities
Healthcare
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Retail
Manufacturing
Robots have long been popular educational devices, starting with the early Lego Mindstorms kits developed with the MIT Media Lab in the 1980s. Intelligent Tutoring Systems (ITS) for science, math, language, and other disciplines match students with interactive machine tutors. Natural Language Processing, especially when combined with machine learning and crowdsourcing, has boosted online learning and enabled teachers to multiply the size of their classrooms while simultaneously addressing individual students’ learning needs and styles
e l p
One might have expected more and more sophisticated use of AI technologies in schools, colleges, and universities by now. Much of its absence can be explained by the lack of financial resources of these institutions as well as the lack of data establishing the technologies’ effectiveness. These problems are being addressed, albeit slowly, by private foundations and by numerous programs to train primarily secondary school teachers in summer programs To date, evidence-driven analytics on healthcare have relied on traditional healthcare data—mainly the electronic medical records discussed above. In the clinical setting, there are hopeful trends towards bringing new data to bear. For example, TeleLanguage enables a human clinician to conduct language therapy sessions with multiple patients simultaneously with the aid of an AI agent trained by the clinician. www.goldsteinresearch.com
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