Artificial Intelligence (AI) Market 2019 Trends, Size, Share, Segment and Industry Growth by Forecast to 2023

Market Highlights:

Artificial intelligence has the potential to change the world around us by modernizing the way we communicate, work, and conduct our daily life. Organizations are adopting artificial intelligence technology to extract valuable insights from data for developing innovative products and improving customer experience. The major growth driver of the artificial intelligence market includes growing demand for AI in sectors such as media & advertising and financial, growing need for improving productivity by the organization to increase customer satisfaction, and rising IOT sector among others. Algorithms like deep learning and its hierarchical pattern recognition are driving the adoption of AI. Software such as RStudio and Sentient was the first to adopt artificial intelligence. Adoption of AI in hardware is most significant factor boosting market growth.

The insightful market research report from the Market Research Future (MRFR) focuses on artificial intelligence market over technological innovations, key developments, factors driving the growth, market trends, and future hold. The global artificial intelligence market is set to grow splendidly by 2023 with the help of some of the latest innovations, supporters, improvisations, and future concerns, building it for nationwide intelligence service.

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Major Key players

• IBM Corporation (U.S.),


• Google Inc. (U.S.),


• Brighterion Inc. (U.S.),


• Microsoft Corporation (U.S.),


• Facebook (U.S.) ,


• Qualcomm (U.S.),


• Rocket Fuel Inc. (U.S.),


• Kensho Technologies, Inc. (U.S.),


• Salesforce (U.S.),


• Infosys (India)


• Sentient Technologies (U.S.)

Competitive Analysis

November 2018: Amazon Web Services introduced 13 new machine learning capabilities and services. Aws has also introduced Amazon SageMaker which will help developers in building and deploying machine learning models at low cost.

September 2018: Microsoft Corporation introduced AI based APIs namely “Dynamic 365 AI” for sales, customer service, and market insights. This API will help the sales department in getting in-depth information about the prospects via sentiment analysis.

After witnessing the continuous development in artificial intelligence market in support of advanced technology have opened ways for new markets with opportunities. The area such as energy, economic inclusion, education, and more are eager to inculcate professionals to drive AI developments.

Factors Driving the Artificial Intelligence Market

The primary drivers of the global artificial intelligence market are stated to be the improved productivity, increased customer satisfaction, significant data integration, diverse application areas and more. Artificial intelligence is bolstering into changing the world into complete modernization in the way of communication, work, and conduct of daily life. Artificial intelligence services are everywhere as it is ongoing with a high level of adoption by several organizations to extract valuable insights from developing products to cater to customers’ needs.

The sectors such as media & advertisement, intelligence agents are primary growth drivers. They have shown a considerable demand for artificial intelligence for customer satisfaction. By the latest implementations of cloud-based applications and services are also impacting the artificial intelligence growth substantially. Moreover, the advent of image, face and voice recognition technologies are likely to catapult the market growth in the 21st generation.

On the flip side, a limited number of artificial technology experts is restraining the market growth to a certain extent. However, lack of skilled workforce and difficulty to human dignity and much more like these are some of the restraints of the market. Nonetheless, the impact of the factors is assumed to be inferior due to the introduction of new technologies in the market, where several organizations are constantly innovating on a large scale, creating strategies to break through all inabilities of the market. Also, continuous developments have been witnessed in artificial intelligence software and related software development areas which will be used for virtual assistants, marketing, identity access management, and intruder detection.

Regional analysis:

North America is dominating the global artificial intelligence market with the largest market share and therefore accounting for the highest revenue amounts. This market is expected to grow due to various factors such as growing use of artificial intelligence in aviation, defense and financial sector of the North American region. The higher implementation of AI technologies in various industrial sectors like manufacturing, media and entertainment, and healthcare is the major reason fueling the growth of the artificial intelligence market in North America. Companies like Tesla, Apple and IBM are innovating to install artificial intelligence enabled chipsets and processors in automobiles, smartphones, and medical equipment.

Europe holds the second position in the global artificial intelligence market due to the growing demands for artificial intelligence such as fast and easy document control and on-demand access to data. Additionally, many public and private organizations have been collecting domain-specific information comprising issues such as cybersecurity, medical informatics, marketing, fraud detection, and national intelligence.

Asia Pacific region, with the higher presence of smartphone manufacturers and semiconductor industries, is expected to grow at a fast pace. Countries like China, Taiwan, and South Korea, hold near about 80% of the global smartphone manufacturers, and most of them carry a huge opportunity for artificial intelligence market.

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Intended Audience

• Artificial Intelligence Market services providers


• IT providers


• Smartphone manufacturers


• Retail vendors


• Cloud Service providers


• Media advertising providers


• Value-added resellers


• Research firms

LIST OF TABLES

Table1 World Population by Major Regions (2017 To 2030)

Table2 Global Artificial Intelligence Market: By Region, 2017-2023

Table3 North America Artificial Intelligence Market: By Country, 2017-2023

Table4 Europe Artificial Intelligence Market: By Country, 2017-2023

Table5 Asia-Pacific Artificial Intelligence Market: By Country, 2017-2023

Continued……

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