By Shobhit Rathore January 10, 2022

Global Artificial Intelligence Market

The GMI Research conjectures a significant boom in the Artificial Intelligence Market over the forecast period. This is because of the augmenting demand for autonomous cars lodged with remarkable artificial technologies.

Market Introduction

Artificial Intelligence is a replica of human intelligence in machines explicitly designed to think like humans and imitate their actions. Also, AI is a composition of various technologies, which include deep learning and machine learning which helps to create hardware and software required for several purposes such as problem-solving, reasoning, perception, and linguistic intelligence. Artificial Intelligence is continuously evolving owing to the benefits to various industries, including the financial, automotive, and healthcare industries. It also helps to enhance productivity, efficiency and minimize costs by creating an intellectual variation in every industry.

Key Players of the Market:

• Samsung
• Intel Corporation
• Google
• Facebook
• IBM Corporation
• Amazon Web Services (AWS)
• Xilinx
• Micron Technology, Inc.
• NVIDIA Corporation
• Microsoft Corporation

Artificial Intelligence Market Dynamics

The global artificial intelligence market is anticipated to boom during the foreseen period. The increasing adoption of innovative Artificial Intelligence technologies has significantly enhanced the functioning of industries, economies, and businesses which is supplementing the growth of the market. The integration of image identification techniques with pattern matching, optical and face character recognition across several end-use applications such as robotics, drones, and self-driving cars have bolstered the market growth. Also, the augmenting deployment of cloud-based services, applications, and big data has supplemented the market share. Several key market players are increasingly focusing on amalgamations and acquisitions with the evolution of start-ups to gain the largest share in the market. For example, in 2017, Microsoft Corporation inc., purchased Maluuba planning to surpass the deep learning AI landscape.

Furthermore, the expansion in artificial intelligence technologies will proffer huge opportunities for the market, thereby alluring a large number of individuals to opt for AI-based solutions. Additionally, the aggravating demand for AI-controlled industrial robots in developing nations such as China and Japan will supplement the market growth. However, the difficulties in data labeling and the inadequate application of Artificial Intelligence in complex models with an insufficient number of Artificial Intelligence professionals will supplement the market size.

Technology Segment Drivers

By Technology, the Computer Vision segment is expected to seize the largest share in the artificial intelligence market over the forecast period. The surging acquisition of computer vision in automated or semi-automated applications across various end-use industry verticals such as the Manufacturing and Automotive sector will bolster the market size. Moreover, the evolving need for quality examination with the aggravating demand for vision-controlled robotic instruments has proliferated the demand for computer vision, thereby persuading the market growth.

End-User Segment Drivers

On the basis of End Users, the Automotive segment is anticipated to seize a prominent share over the artificial intelligence market during the next few years. The aggravating deployment of Artificial Intelligence technologies in the semi-autonomous and mechanized car to cater to the altering demand of the end-users and offer a better customer experience will drive the market growth. The car producers are increasingly focusing on executing artificial intelligence technologies across various production processes such as AI and machine learning robots for assigning vehicle parts and stuffing the cars. Moreover, the spurring demand for autonomous cars with significant artificial intelligence technologies such as voice commands, internet radio, collision warning, contextual help, and roadside assistance will propel the market size.

Artificial Intelligence Market Segmentation:

Segmentation by Offering

• Hardware

o Processors

o Memory

o Network

• Software

o AI Platforms

o AI Solutions

• Services

o Deployment & Integration

o Support & Maintenance

Segmentation by Technology

• Machine Learning
• Natural Language Processing (NLP)
• Deep Learning
• Computer Vision
• Others

Segmentation by End-User

• Healthcare
• BFSI
• Retail
• Manufacturing
• Automotive & Transportation
• Agriculture
• Media & Entertainment
• Others

Segmentation by Region:

• Asia Pacific

o China

o Japan

o India

o Rest of APAC

• North America

o United States of America

o Canada

• Europe

o United Kingdom

o Germany

o France

o Spain

o Rest of Europe

• RoW

o Brazil

o South Africa

o Saudi Arabia

o UAE

About GMI Research

GMI Research is a market research and consulting firm which provides research-based solutions to business executives and investment professionals so that they can make the right business & investment decisions faster based on real facts. We help business leaders through independent fact-based insight, ensuring their business achieves success by beating the competition.

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Technology Segment Drivers

By Technology, the Computer Vision segment is expected to seize the largest share in the artificial intelligence market over the forecast period. The surging acquisition of computer vision in automated or semi-automated applications across various end-use industry verticals such as the Manufacturing and Automotive sector will bolster the market size. Moreover, the evolving need for quality examination with the aggravating demand for vision-controlled robotic instruments has proliferated the demand for computer vision, thereby persuading the market growth.

GMI Research is a market research and consulting firm which provides research-based solutions to business executives and investment professionals so that they can make the right business & investment decisions faster based on real facts. We help business leaders through independent fact-based insight, ensuring their business achieves success by beating the competition.

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