New York, NY, June 28, 2021 (GLOBE NEWSWIRE) — Facts and Factors have published a new research report titled “Artificial Intelligence Market By Component (Hardware, Software, & Services), By Technology (Deep Learning, Machine Learning, Natural Language Processing, & Machine Vision), By Deployment (Cloud-Based& On-Premises), By End-Verticals (Healthcare, Retail, BSFI, Automotive, Advertising and Media, Manufacturing, Agricultural, & Others), And By Regions – Global Industry Perspective, COVID-19 Impact Analysis, Market Valuation, Business Strategies, Comprehensive Study, Latest Trends & Forecasts, 2021 – 2026”.
“According to the recent research report, the demand of global Artificial Intelligence Market size & share expected to reach to USD 299.64 Billion by 2026 from USD 29.86 Billion in 2020, at a compound annual growth rate (CAGR) of 35.6% during the forecast period 2021 to 2026”
Global Artificial Intelligence Market: Overview
Artificial intelligence is the science and technological progress that is consumed in order to give computer systems the ability to attain problem-solving skills as humans with the aid of learning. Human intelligence is a combination of present consciousness and emotionality while AI attempts to emulate the latter using complex mathematical astute. The rising growth of the global artificial intelligence market can be contributed to the extended support offered by the latter to the healthcare sector during a time of rising COVID-19 cases.
Additional factors include a surge of data being handled by electronic health records due to the rising medical demand. AI algorithms can sort and quantify a huge quantity of data in an efficient and rapid form. This is said to increase the footprint of the artificial intelligence market during the forecast. Moreover, the rising adoption of AI for a range of advanced features such as augmenting messages, rapid sorting, and enquiring solutions, automated email and phone support, and management of support agents will further open new revenue opportunities for the market during the forecast.
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(Note: The sample of this report is updated with COVID-19 impact analysis before delivery)
Industry Major Market Players
- Alphabet (Google LLC)
- Apple Inc.
- Baidu Inc.
- IBM Corporation
- IPsoft Inc.
- Microsoft Corporation MicroStrategy Inc.
- NVIDIA Corporation
- Qlik Technologies Inc.
- Verint Systems Inc.
- SAP SE
- Advanced Micro Devices
- ARM Limited
- Intel Corporation
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Key questions answered in this report:
- What is the projected market size & growth rate of the Artificial Intelligence Market?
- What are the key driving factors for the growth of the Artificial Intelligence Market?
- What are the top companies operative in Artificial Intelligence Market?
- What segments are covered in Artificial Intelligence Market?
- How can I get free sample report/company profiles of the Artificial Intelligence Market?
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On the basis of technology, the global artificial intelligence market can be split between deep learning, machine learning, natural language processing, and machine vision. The machine learning segment can be further divided into supervised learning, unsupervised learning, reinforcement learning, and other technology. Machine learning is expected to occupy the largest market share during the advent of the forecast owing to a wider range of applicable elements, especially in the healthcare sector.
On the basis of end-verticals, the global artificial intelligence market can be broken down into healthcare, retail, BSFI, automotive, advertising and media, manufacturing, agricultural, and others. The others segment can be further divided into government and education. The retail sector is expected to flourish during the forecast period owing to a rise in retail sales by using ML algorithms using advanced features such as customer recognition patterns and targeted advertisements using search engine recommendations.
The following developments are expected to change the dynamics of the global artificial intelligence market during the forecast:
- Apple, Inc. recently acquired Seattle-based low-power technology provider Xnor ai with the thought of people integrating their technology for a range of smartphones for security applications.
- Apple, Inc. acquired the machine-learning start-up Inductiv, Inc. for improving their speech recognition and smart assistant Siri which will further allow Siri to correctly identify the errors and cataloging.
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Global Artificial Intelligence Market: Opportunities and Trends
- Integration of Cloud-based Services and Artificial Intelligence to Inflame Market Dynamics
The leading participants in the market such as Microsoft Corporation, Amazon, Inc., and IMB Corporation have begun infusing services such as cloud computing and AI in order to further increase their capabilities and cater to a wider range of services. Startups across the world are found to invest a majority of their income in infusing these services in order to stay a step ahead of the highly competitive market. These factors will likely push the boundaries of the artificial intelligence market and open new market opportunities for revenue.
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Global Artificial Intelligence Market: Segmentation
The global artificial intelligence market can be segmented across components, technology, deployment, end-verticals, and regions.
On the basis of components, the global artificial intelligence market is divided into hardware, software, and services. The hardware segment can be split between processor, memory & network and the software segment can be disintegrated within the application program interface (API) and machine learning framework. The service segment is expected to account for the largest market share due to easy integration with existing infrastructure and solutions.
On the basis of technology, the global artificial intelligence market can be split between deep learning, machine learning, natural language processing, and machine vision. The machine learning segment can be further divided into supervised learning, unsupervised learning, reinforcement learning, and other technology. The segment pertaining to ML is expected to witness the largest market share due to increasing applicable solutions and measures in the healthcare sector while the NLP sector will see a boost in the market share due to the increasing demands of chatbots and virtual assistants.
Global Artificial Intelligence Market: Report Scope
|Market Size 2020 Value||USD 29.86 Billion|
|Market Forecast for 2026||USD 299.64 Billion|
|Expected CAGR Growth||CAGR 35.6% from 2021-2026|
|Top Market Players||Alphabet (Google LLC), Apple, Inc., Baidu, Inc., IBM Corporation, IPsoft, Inc., Microsoft Corporation MicroStrategy, Inc., NVIDIA Corporation|
|Pricing Options||Request customized purchase options to meet your research needs. Explore purchase options|
Global Artificial Intelligence Market: Regional Analysis
- North America Can Lead the Artificial Intelligence Market During the Forecast Period
North America is expected to occupy the largest market share during the forecast owing to developing economies such as the United States contributing to a majority of the global revenue. Favorable government support and loosening of policies regarding AI implementation are expected to drive the market in the region at a stronger pace. Asia-Pacific is expected to witness the fastest growing CAGR during the forecast due to rising investments pertaining to artificial intelligence. Furthermore, the rising number of startups, rising digital population, and adoption of AI for operational procedures will further increase the foothold of the market in the region.
Browse the full report “Artificial Intelligence Market By Component (Hardware, Software, & Services), By Technology (Deep Learning, Machine Learning, Natural Language Processing, & Machine Vision), By Deployment (Cloud-Based& On-Premises), By End-Verticals (Healthcare, Retail, BSFI, Automotive, Advertising and Media, Manufacturing, Agricultural, & Others), And By Regions – Global Industry Perspective, COVID-19 Impact Analysis, Market Valuation, Business Strategies, Comprehensive Study, Latest Trends & Forecasts, 2021 – 2026” at https://www.fnfresearch.com/artificial-intelligence-market
Key Highlights of this Report:
- Statistically Validated Analysis of Historical, Current, and Projected Industry Trends with Authenticated Market Sizes Information and Data in terms of Value and Volume, wherever applicable
- Detailed List of Key Buyers and End-Users (Consumers) analyzed as per Regions and Applications
- Overview of Key Marketing Strategies and Key Sales Channels Adopted in the Market
- Market Attractiveness Analysis and Key Investment Opportunity Analysis in the Market going forward
- Direct and Indirect Factors that Impacted the Industry as well Projected Rationales expected to affect the industry going forward
- Historical and Projected Company / Vendor / OEM / Supplier Market Shares, Competitive Landscape, and Player Positioning Data
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