Artificial Intelligence Market is estimated to reach $43.2 Billion by 2024; growing at a CAGR of 59.8% from 2020 to 2024

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New York, United States, Sat, 28 Nov 2020 04:48:43 / Comserve Inc. / — Artificial intelligence (AI) is the concept and development of computer-systems able to perform tasks usually requiring human intelligence, for instance speech recognition, visual perception, decision making.

Global Artificial Intelligence is estimated to reach $43.2 Billion by 2024; growing at a CAGR of 59.8% from 2016 to 2024. Artificial intelligence (AI) is the concept and development of computer-systems able to perform tasks usually requiring human intelligence, for instance speech recognition, visual perception, decision making, and translation among languages. Arrival of new technologies, has shown a new era to the computer world. Due to this fact AI has come into existence which behaves more like a human mind. An intelligent computer or software controlled-robots think in the same manner a human being can. The areas such as computer science, mathematics, psychology, linguistics engineering, and biology are used to build an intelligent system. Their increasing application across different domains such as automotive, healthcare, manufacturing, media and advertising, retail and among others is fueling the artificial intelligence market growth globally.

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The growth of global artificial intelligence market is mainly driven by factors such as rising demand for unmanned aerial vehicles, civil aviation for vehicle tracking, autonomous cars, and monitoring and auto control. Though, lack of low-cost & energy-efficient hardware which limits its adoption among small and medium businesses acts as the major hindrance for the market growth. Ongoing R&D, and acceptance of ITS (Intelligent tutoring systems) in the learning process are expected to generate numerous opportunities for the market in the given forecast timeframe.

The global artificial intelligence market is mainly segmented on the basis of technology, end use, and geography. On the basis of technology, the market is classified into deep learning, natural language processing, machine vision, and machine learning. End-user segment consists of healthcare, advertising & media, BFSI, automotive and transportation, law, retail, agriculture, manufacturing, and others.

Based on geography, global artificial intelligence market is segmented into North America, Europe, Asia Pacific, and Rest of the World (RoW). North America is further bifurcated in U.S., Canada, and Mexico whereas Europe segment consists of UK, Germany, France, Italy, and Rest of Europe. Asia-Pacific is segmented into India, China, Japan, and Rest of Asia- Pacific, while RoW is bifurcated into South America, Middle East, and Africa.

Some of the major players in the artificial intelligence market are Microsoft Corporation, Google Inc., MicroStrategy, Inc., IBM Corp., IPsoft, 24/7 Customer, Inc., Qlik Technologies Inc., Brighterion, Inc., Rocket Fuel Inc., and Next IT Corp., among others.

The key takeaways from the report
The report will provide detailed analysis of Global Artificial Intelligence Market with respect to major segments such as technology, end-use, and geography

The report will include the qualitative and quantitative analysis with market estimation over 2015 – 2024 and compound annual growth rate (CAGR) between 2016 and 2024

Comprehensive analysis of market dynamics including factors and opportunities of the global Artificial Intelligence Market
An exhaustive regional analysis of Global Artificial Intelligence Market from 2015 to 2024 has been included in the report

Profile of the key players in the Global Artificial Intelligence Market, will be provided, which include key financials, product & services, new developments and business strategies

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Scope of the Global Artificial Intelligence Market
Technology Segments

Deep Learning
Machine Learning
Natural Language Processing
Machine Vision
End-User Segments

Healthcare
BFSI
Law
Retail
Advertising & Media
Automotive & Transportation
Agriculture
Manufacturing
Other End-Users
Geographical Segments

North America

U.S.
Canada
Mexico
Europe

U.K.
Germany
France
Italy
Rest of Europe
Asia-Pacific

India
China
Japan
South Korea
Rest of Asia-Pacific
Rest of the World

South America
Middle East
Africa

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