Market Research Report
India Artificial Intelligence (AI) Market 2019-2025
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|India Artificial Intelligence (AI) Market 2019-2025|
|Published: January 13, 2020||Content info:||
India Artificial Intelligence (AI) Market Size, Share & Trends Analysis Report by Offering (Hardware and Software & Services), By End-User Industry (Manufacturing, Automotive, IT and BFSI, Healthcare, E-Commerce & Logistics, Home Appliances, and Others), and Forecast 2019-2025
India Artificial Intelligence market is estimated to grow significantly at a CAGR of 37.2% during the forecast period. There are a lot of opportunities available in AI technology in India with the increasing adoption of technologies. India is one of the fastest emerging economies for AI in the Asia-Pacific region. Adoption of various government policies to drive AI innovation, adaptation, and proliferation in various sectors such as information & technology, healthcare, consumer goods along with many other sectors. For instance, in May 2019, NITI Aayog, Department of the Indian government, has drawn up a plan for creating an institutional framework for AI in the country.
The department has circulated a cabinet note to provide $75 billion in funding for the creation of a cloud computing platform called AIRAWAT and research institutes. Moreover, in June 2018, the Indian government defined a national policy on AI in a working paper titled National Strategy for Artificial Intelligence #AIforAll. The NITI Aayog has announced to focus on five sectors that are envisioned to benefit from AI.
The market is segmented on the basis of offering and end-user industry. Based on offering, the market is divided into software & services and hardware. The market for software and services was the highest market during the forecast period. Based on the end-user industry, the market is segmented into manufacturing, automotive, IT and BFSI, healthcare, e-commerce & logistics, home appliances, and others. Further, policies including Make in India, Skill India, and Digital India programs offer untapped opportunities for AI manufacturers and service providers creating regional innovation clusters for manufacturing automation and robotics in collaboration with universities and startups.
The market study of the India AI market is incorporated by extensive primary and secondary research conducted by the research team. Secondary research has been conducted to refine the available data to breakdown the market in various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. In the report, the analysis of the country is provided by analyzing various regional players, regional tax laws and policies, consumer behavior and macro-economic factors. Numbers extracted from Secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives, managers, key opinion leaders, and industry experts. Primary research brings authenticity to our reports.
The report is intended for IT companies, automobile companies, BFSI companies, private companies, healthcare companies, research institutes, hospitals, and government organizations for the overall market and competitive analysis. The report provides an in-depth analysis on market size, future market opportunities. The report will serve as a source for 360-degree analysis of the market thoroughly integrating different models.