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Global Artificial Intelligence Market - 2021-2028

Published: | DataM Intelligence | 180 Pages | Delivery time: 2 business days

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Global Artificial Intelligence Market - 2021-2028
Published: December 6, 2021
DataM Intelligence
Content info: 180 Pages
Delivery time: 2 business days
  • Description
  • Table of Contents

Global Artificial Intelligence Market is segmented By Technology (Machine Learning, Computer Vision, NLP, Virtual Assistance, Voice recognition, Others), By Application (Transportation, Consumer goods, Automotive and Assembly, Health care system & Services, Banking, Agriculture, Others), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) - Share, Size, Outlook, and Opportunity Analysis, 2021-2028

Market Overview

The Global Artificial Intelligence Market is expected to grow at a CAGR of 33.1% during the forecasting period ( 2021-2028).

Artificial intelligence is a technology which will be able to perform tasks usually requiring human intelligence, such as visual perception, speech recognition, decision-making, and translation between languages.

Today, the world is in an age of fundamental change that by some are considered the fourth Industrial Revolution and also referred to as the cognitive era. Artificial intelligence is at the center of this development as fully fledged.

AI has the potential to disrupt every industry in the economy and all aspects of human life within the next 20 to 50 years. Thus,the growing demand for AI in various industry sectors is projected to drive the global artificial intelligence market over the forecast period.

Artificial Intelligence Market Dynamics

Growing end-user industries such as automotive, consumer goods, healthcare, and others are one of the major factors driving the global artificial intelligence market. It is owing to the adoption of AI in various applications. Further, growth in demand for analyzing and interpreting large amounts of data using technologies of artificial intelligence along with the development of more reliable cloud computing infrastructures and improvements in dynamic artificial intelligence solutions have a substantial impact on the growth potential of the AI market. Additionally, initiatives and investments by various country governments are expected to drive the global artificial intelligence market.

In July 2017, the State Council of China released the Next Generation Artificial Intelligence Development Plan outlining the country's strategic approach and policy for AI up to 2030. In 2017, the Government of China invested $ 2.1 billion in a technology park dedicated to artificial intelligence to be built in Beijing. Also, Government funding of around 430 million USD for AI-related research projects in six months in early 2018 alone. Additionally, French president Emmanuel Macron, for example, announced government investments of more than 1.5 billion U.S. dollars for his country in March 2018.

Thus, all these factors are positively influencing the growth of the global artificial intelligence market.

However, the risk to employees such as loss of employment is the major factor hampering the global artificial intelligence market.

Over the forecast period, the healthcare sector is projected to grow at a high CAGR of XX%.  Deep-learning based used in healthcare to detect illness, including cancer, much better than average human performance. Artificial intelligence applications will be used to diagnose scans, e.g., for heart disease and lung cancer. According to IP Pragmatics, the global health artificial intelligence market is set for strong growth and projected to reach more than $ six billion in value by 2021. 

Artificial Intelligence Market Segmentation Analysis

Based on technology, the global artificial intelligence market is broadly segmented as machine learning, voice recognition, virtual assistance, NLP, computer vision, image processing, and others. Among all these machine learning accounted for major market share in 2018. It is owing to an increase in demand for artificial intelligence industry solutions. Over the forecast period, virtual assistants are expected to grow at a high CAGR. Virtual digital assistants such as the Google Assistant and Apple's Siri are already part of the consumer market's mainstream. Thus, growth in sales of virtual assistance devices is expected to drive the global artificial intelligence market. According to Apple's reports in 2018, they sold more than 217 million iPhone's. Additionally, the growing application of virtual assistants in various end-user industries such as automotive, healthcare, and others. For instance, in January 2019 Starkey Hearing Technologies offered Livio AI device which now comes with built-in virtual assistance.

Based on the application, the global artificial intelligence is broadly segmented into transportation, automotive, agriculture, healthcare, and others. Automotive applications accounted for significant market share in 2018. It is owing to growing adoption of machine learning, computer vision, voice recognition in autonomous and semiautonomous applications in various industries, such as manufacturing and automotive, is propelling the growth of this technology in the artificial intelligence market in the automotive & manufacturing sector. Thus, increase in the automotive sector is expected to grow the global artificial intelligence market. According to the International Organization of Motor Vehicle Manufacturer (OICA), the global automobile production between 2000 and 2017 was increased by approximately 25%.

Artificial Intelligence Market Geographical Share

The global Artificial Intelligence market is segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa.

The Asia Pacific region accounted for major market share followed by North America in 2018, and it is expected to grow at a high CAGR over the forecast period. This growth can be attributed to the increasing adoption of artificial intelligence technologies in various end-user industry sectors in this region.

Further, the presence of major players in the artificial intelligence market such as UBTech results in the increasing adoption of these systems in APAC.

Also, large investments by the government in developing countries of this region such as China, India is driving the global artificial intelligence market in this region.

In 2017, almost 28 billion U.S. dollars were poured into the Chinese artificial intelligence market. Because China is projected to maximize the potential of artificial intelligence due to its more dynamic overall economic growth and the Chinese's government strong focus on it as a national strategy.

According to PwC (Pricewaterhouse Coopers), AI in China is expected to increase GDP growth by 26.1 % by 2030.  

Global Artificial Intelligence Market Competitive Trends

Significant players of the global artificial intelligence market are Google, Amazon, Apple, Intel, Microsoft, Facebook, Salesforce, IBM, Toshiba, UBTech, and others.

The product launches, collaboration, and product agreements, and other key developments are the dominating strategies adopted by the market players to enhance their product portfolio in the global artificial intelligence market.

For instance, In November 2018, Apple acquired Silk Labs, an artificial intelligence startup focused on 'software lightweight enough to fit onto consumer hardware like cameras'.

In October 2018, Intel introduced Intel Neural Compute Stick 2(Intel NCS 2). It is Intel's latest high-performance vision processing unit.

In October 2016, DENSO Corporation and Toshiba Corporation jointly developed an artificial intelligence technology called Deep Neural Network-Intellectual Property (DNN-IP), which will be used in image recognition systems.

Why Purchase the Report?

Visualize the composition of the Artificial Intelligence market across each indication, in terms of type and treatment options, highlighting the key commercial assets and players.

Identify commercial opportunities in Artificial Intelligence market by analyzing trends and co-development deals.

Excel data sheet with thousands of data points of the Artificial Intelligence market - level 4/5 segmentation.

A PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study.

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Product Code: DM1014

Table of Contents

1.  Artificial Intelligence Market - Methodology and Scope

  • 1.1. Research Methodology
  • 1.2. Research Objective and Scope of the Report

2.  Artificial Intelligence Market - Definition and Overview

3.  Artificial Intelligence Market - Executive Summary

  • 3.1. Market Snippet by Technology
  • 3.2. Market Snippet by Application
  • 3.3. Market Snippet by Region 

4.  Artificial Intelligence Market Dynamics

  • 4.1. Market Impacting Factors
    • 4.1.1. Drivers
    • 4.1.2. Restraints
    • 4.1.3. Opportunity
    • 4.1.4. Impact Analysis

5.  Artificial Intelligence Market - Industry Analysis

  • 5.1. Porter's Five Forces Analysis
  • 5.2. Supply Chain Analysis
  • 5.3. Pricing Analysis
  • 5.4. Regulatory Analysis
  • 5.5. Patent Analysis

6.  Artificial Intelligence Market - By Technology

  • 6.1. Introduction
    • 6.1.2. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Technology
    • 6.1.3. Market Attractiveness Index, By Technology
  • 6.2. Machine Learning
    • 6.2.1. Introduction
    • 6.2.2. Market Size Analysis, and Y-o-Y Growth Analysis (%), 2018-2026
  • 6.3. Computer Vision
  • 6.4. NLP
  • 6.5. Virtual Assistance
  • 6.6. Voice recognition
  • 6.7. Others (includes Image processing)

7.  Artificial Intelligence Market - By Application

  • 7.1. Introduction
    • 7.1.2. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Application
    • 7.1.3. Market Attractiveness Index, By Application
  • 7.2. Transportation
    • 7.2.1. Introduction
    • 7.2.2. Market Size Analysis, and Y-o-Y Growth Analysis (%), 2018-2026
  • 7.3. Consumer goods
  • 7.4. Automotive and Assembly
  • 7.5. Health care system & Services
  • 7.6. Banking
  • 7.7. Agriculture
  • 7.8. Others (includes Construction)

8.  Artificial Intelligence Market - By Region

  • 8.1. Introduction
    • 8.1.1. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Region
    • 8.1.2. Market Attractiveness Index, By Region
  • 8.2. North America
    • 8.2.1. Introduction
    • 8.2.2. Key Region-Specific Dynamics
    • 8.2.3. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Application
    • 8.2.4. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Technology
    • 8.2.5. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Country
      • 8.2.5.1. The U.S.
      • 8.2.5.2. Canada
      • 8.2.5.3. Mexico
  • 8.3. Europe
    • 8.3.1. Introduction
    • 8.3.2. Key Region-Specific Dynamics
    • 8.3.3. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Application
    • 8.3.4. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Technology
    • 8.3.5. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Country
      • 8.3.5.1. Germany
      • 8.3.5.2. The U.K.
      • 8.3.5.3. France
      • 8.3.5.4. Italy
      • 8.3.5.5. Spain
      • 8.3.5.6. Rest of Europe
  • 8.4. South America
    • 8.4.1. Introduction
    • 8.4.2. Key Region-Specific Dynamics
    • 8.4.3. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Application
    • 8.4.4. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Technology
    • 8.4.5. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Country
      • 8.4.5.1. Brazil
      • 8.4.5.2. Argentina
      • 8.4.5.3. Rest of South America
  • 8.5. Asia Pacific
    • 8.5.1. Introduction
    • 8.5.2. Key Region-Specific Dynamics
    • 8.5.3. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Application
    • 8.5.4. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Technology
    • 8.5.5. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Country
      • 8.5.5.1. China
      • 8.5.5.2. India
      • 8.5.5.3. Japan
      • 8.5.5.4. Australia
      • 8.5.5.5. Rest of Asia Pacific
  • 8.6. Middle East & Africa
    • 8.6.1. Introduction
    • 8.6.2. Key Region-Specific Dynamics
    • 8.6.3. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Application
    • 8.6.4. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Technology

9.  Artificial Intelligence Market - Competitive Landscape

  • 9.1. Competitive Scenario
  • 9.2. Competitor Artificial Intelligence Strategy Analysis
  • 9.3. Comparative Product Portfolio Analysis
  • 9.4. Market Positioning/Share Analysis
  • 9.5. Mergers and Acquisitions Analysis

10.  Artificial Intelligence Market - Company Profiles

  • 10.1. Google
    • 10.1.1. Company Overview
    • 10.1.2. Product Portfolio and Description
    • 10.1.3. Key Highlights
    • 10.1.4. Financial Overview
  • 10.2. Amazon
  • 10.3. Apple
  • 10.4. Intel
  • 10.5. Microsoft
  • 10.6. Facebook
  • 10.7. Salesforce
  • 10.8. IBM
  • 10.9. Toshiba
  • 10.10. UBTech

11.  Artificial Intelligence Market - Premium Insights

12.  Artificial Intelligence Market - DataM

  • 12.1. Appendix
  • 12.2. About Us and Services
  • 12.3. Contact Us