Market Research Report
North American Artificial Intelligence (AI) Market 2019-2025
|Published by||Orion Market Research Pvt Ltd||Product code||922250|
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|North American Artificial Intelligence (AI) Market 2019-2025|
|Published: January 13, 2020||Content info:||
North American 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
The North American Artificial Intelligence market is estimated to grow significantly at a CAGR of 35.5% during the forecast period. The North American market for AI is analyzed based on countries such as the US and Canada. The factors that are contributing significantly to the market growth include R&D, and high expenditure by the government as well as a private organization in AI technology. The US and Canada are the major economies of North America. The region has well-developed information communication technology (ICT) and employs the adoption of a large number of connected devices. Presence of major AI manufacturers in North America in terms of revenue, which include Microsoft, IBM, and Google.
The growth in the North American region is further attributed to the higher sale of AI-enabled home appliances. 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.
The companies which are contributing to the growth of the North American AI market include Amazon.com, Inc., Google LLC, IBM Corporation, Microsoft Corporation, and others. The market players are considerably contributing to the market growth by the adoption of various strategies including new product launch, merger, and acquisition, collaborations with government, funding to the start-ups and technological advancements to stay competitive in the market. For instance, in May 2019, Google LLC has announced the launching of the AI platform, an end to end platform for the data scientist and the developers to deploy test and build machine learning models in the Google cloud next 2019 platform.
The market study of the North American Artificial Intelligence (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. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis 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.