The rise in demand for intelligent systems to enhance efficiency and productivity is propelling the growth of the global artificial intelligence market. Technological advancements in the AI industry such as faster speech and natural language processing are positively impacting the growth of the AI market. Moreover, the continuous research and innovation directed by the tech giants are driving the adoption of advanced technologies in industry verticals, such as automotive, healthcare, retail, finance, and manufacturing.

Furthermore, increasing funding for artificial intelligence startups is acting as a growth catalyst for the industry. In 2019, AI startups received a record US$28.5B in funding across over 2,300 deals, a 20% increase in funding to the sector (In comparison, in 2018 there were about 1,900 agreements for a total of US$22.1 billion) Moreover, AI investment is growing fast, dominated by digital giants such as Google and Baidu. Globally, we estimate tech giants spent US$20 billion to US$30 billion on AI in 2016, with 90% of this spent on R&D and deployment, and 10 % on AI acquisitions

According to UnivDatos’ research report “Artificial Intelligence Market”, the market is expected to witness significant growth during the forecast period 2021-2027F. This can be mainly attributed to an increase in Trust and Funding by Big Tech, like Google, Apple, etc. The major reason driving the magnification of the Artificial intelligence (AI) market in the United States is the growing number of internet users and connected devices. Companies of various sizes across industries worldwide, those that are using artificial intelligence (AI) solutions, either developing them in-house, using COTS, or a combination of both, Adaptive intelligence applications, cloud services, automated machine learning (autoML), and IT services are key enablers for growth of the AI market.

Based on Technology, the deep learning category dominated the global artificial intelligence market. deep-learning comprises algorithms inspired by artificial neural networks. this high share is gained by deep learning to its eminence because of its complex data-driven applications, including text/content or speech recognition deep learning offers remunerative investment opportunities as it helps in overcoming challenges of high data volumes.

Machine and deep learning cover very important investments in ai. it includes both ai platforms and cognitive applications, including tagging, clustering, categorization, hypothesis generation, navigation, and visualization, which facilitate the development of advisory, intelligent, and cognitively enabled solutions. rising investments in research and development by leading players will also play a crucial role in increasing the uptake of ai technologies.

Access sample report (including graphs, charts, and figures):  https://univdatos.com/reports/artificial-intelligence-market?popup=report-enquiry

Based on Industry Vertical, health care contributes to most of the revenue for the Artificial Intelligence market. This largest share can be attributed to the healthcare segment due to the growing demand for complex data manipulations and sophisticated data analysis, and an increase in funding by the healthcare sector in AI. Also, due to the pandemic now healthcare centers are required to handle a lot more patient data, in comparison to what they used to. Moreover, the BFSI segment is expected to witness a considerable CAGR during the forthcoming years, due to the increase in fintech companies and the constant requirement for AI-based cyber security.

North America is expected to witness the highest growth

The North America artificial intelligence market is projected to grow at a considerable CAGR. Factors driving the market include continuous research and innovation by tech giants, rising demand for AI virtual assistance, and the growing adoption of AI in hospitals and clinics. Also, banking systems are adopting technology to reduce human interference, technology has always been an essential part of industries

For more informative information, please visit us – https://univdatos.com/report/artificial-intelligence-market/

According to UnivDatos, the key players with a considerable market share in the Artificial Intelligence Market are Amazon Web Services, Inc. Apple Inc. Google LLC IBM Corporation Intel Corporation Microsoft Corporation Nvidia Oracle Corporation SAP SE Siemens. These companies are investing heavily in Artificial Intelligence to help research organizations in their studies.

§ May 2021: IBM announced plans to acquire Waeg, a leading Salesforce Consulting Partner in Europe, to extend IBM's portfolio of Salesforce services and advance IBM's hybrid cloud and AI strategy. The acquisition builds on IBM's continued investment in Salesforce consulting services to meet the rising client demand for experience-led business transformation and new customer engagement strategies backed by data, AI, and machine learning  

“Artificial Intelligence Market” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for the market players. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitors’ capabilities on different parameters. This will help companies in the formulation of go-to-market strategies and identifying the blue ocean for its offerings.     

Related Report

Artificial Intelligence in Healthcare Market: Current Analysis and Forecast (2019-2025)
Artificial Intelligence in Cardiology Market: Current Analysis and Forecast (2022-2030)
Artificial intelligence (AI) in Medical Diagnostics Market: Current Analysis and Forecast (2021-2027)
Artificial Intelligence in Radiology Market: Current Analysis and Forecast (2022-2028)

Market Segmentation:

1.    By Technology (Deep Learning, Natural Language Processing, Image Processing, Others)

2.    By Components (Software, Hardware, Services)

3.    By Industry Vertical (IT and Telecommunication, Retail & Ecommerce BFSI, Healthcare, Manufacturing, Automotive, Others)

4.    By End-Users (Law, Retail, Advertising & Media, Automotive & Transportation, Agriculture, Manufacturing, Healthcare, Education, Others)

5.    By Region (North America, Europe, Asia-Pacific, Rest of World)

6.    By Company (Amazon Web Services, Inc. Apple Inc. Google LLC IBM Corporation Intel Corporation Microsoft Corporation Nvidia Oracle Corporation SAP SE Siemens)

Contact Us:

UnivDatos

Contact Number - +19787330253

Email - contact@univdatos.com 

Website - www.univdatos.com

Linkedin- https://www.linkedin.com/company/univ-datos-market-insight/mycompany/