Artificial Intelligence Market: Global Trends, Opportunities And Industry Forecast To 2026
Category: #Technology  By Partha Ray  Date: 2020-05-22
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Artificial Intelligence Market: Global Trends, Opportunities And Industry Forecast To 2026

The research report on artificial intelligence market, in substance, presents an exclusive understanding of the vast expanse of the business space in question. The report comprises a gist of the industry by means of providing an executive summary, industry insights, industry ecosystem analysis, market segmentation, and global trends. Furthermore, the study also provides deliverables pertaining to the regulatory and competitive landscapes and the strategic perspectives of various industry contenders with respect to the artificial intelligence indutry .

However, the major challenges faced by industry players are the low return on investment and the complexity involved in the creation of AI mechanisms and models. Lack of energy-efficient and cost-effective hardware restricts the adoption of such technology in small and medium enterprises, thereby restricting the artificial intelligence market growth during the forecast timeline. In addition, lack of skilled labor owing to the requirement of a complex algorithm in the development of artificial intelligence models pose as a barrier for the industry growth.

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What does the report encompass with respect to the Application landscape?

•             As per the report, the artificial intelligence market has been subdivided into  retail, transportation & automotive, oil & gas, media & advertising, manufacturing, healthcare, BFSI, and agriculture.

•             The research study provides an in-depth understanding pertaining to the evaluation of the application landscape.

•             The market share that each of the subsegments hold has been provided in the study, in addition to the revenue estimates by the end of the forecast duration.

•             The ongoing and future trends pertaining to the application landscape have been outlined in the report in meticulous detail.

What does the report encompass with respect to the Offerings landscape?

•             The report states that the offerings spectrum of the artificial intelligence market is split into products and services.

•             The study contains essential details pertaining to the target remuneration of every sub-segment of the offerings spectrum.

•             The market share that each sub-segment of the offerings landscape is predicted to accrue by the end of the projected period is presented in the report.

•             Also included in the research study is the growth potential of each sub-segment with respect to the global industry landscape.

North America held the highest market share in 2016 and is expected to grow at the highest CAGR from 2017 to 2024. Applications of AI in various sectors, such as agriculture, BFSI, media and advertising, consumer electronics, transportation, and automotive, majorly drive the industry growth. Moreover, the presence of various software development companies and domestic & multinational AI products in this region will further boost the artificial intelligence market growth in this region.

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Various companies are currently offering advanced products and services according to the customer requirements. Key players in the artificial intelligence market include IBM Corporation, NVIDIA Corporation, Nuance Communications, Cognii, Quantum Simulations, Google, Inc., Microsoft Corporation, and Intel Corporation. The companies are highly investing in R&D activities. Moreover, the major players are focusing on new product development with more computational efficiency. In October 2016, Google launched Pixel, the new smartphone equipped with a highly developed hardware and software along with several other state-of-the-art features. Pixel includes Google assist, which is a natural language processing tool; it helps users to search answers and assist them in their daily activities.

In a nutshell, the artificial intelligence market analysis report is an inherent collection of the market definitions, industry insights, and the overall scope of the report. Details about the numerous industry pitfalls and challenges, in addition to driving parameters influencing the revenue scale of this business have also been provided in the repo

About Author

Partha Ray    

Partha Ray

Partha is into digital marketing since the last 3 years and has worked on multiple projects across various industries. An Computer Science engineer by education, he has prior experience in software development. His other interests include playing cricket & Hockey.

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