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November 9, 2020

Artificial Intelligence Market Size 2020, Global Opportunity, Growth Analysis and Forecast 2027

The Global Artificial Intelligence Market is projected to reach around USD 230 Billion by 2027 at a CAGR of around 39.3%.

Artificial Intelligence is a stream of computer science that used to replicate or simulate human intelligence in a machine, so machines can perform tasks that typically require human intelligence. These systems are powered by algorithms, using deep learning, machine learning, and rules. Machine learning algorithms feed computer data to AI systems, using statistical techniques to enable AI systems to learn.

Some programmable functions of AI systems include learning, planning, problem solving, decision making, and reasoning. Rising adoption of cloud-based services and advances in image and voice recognition are expected to drive the market during the forecast period. However, lack of trained and experienced staff is expected to hinder the growth of the market during the forecast period.

Artificial Intelligence Market: Drivers & Restraint

Market Driver:

Rising Adoption of Cloud-Based Application and Services

In the current scenario, the demand for cloud based applications and services are increasing because, Cloud computing offers businesses more cost savings, agility, and flexibility by hosting applications and data in the cloud. Moreover, Artificial intelligence capabilities are now layering with cloud computing and helping companies manage their data, look for patterns and insights in information, deliver customer experiences, and optimize workflows. AI technology mostly used in cloud based apps and services for improving data management, getting more done with AI-SAAS integration, utilizing dynamic cloud services, and powering a self-managed cloud. Hence, with the increase in use of cloud based applications and services, the AI market will be increase.

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Market Opportunity:

Improving Operational Efficiency in Manufacturing Industry

The role of manufacturing in advanced and developing economies has shifted dramatically. Artificial intelligence helps manufacturers with real-time problem-solving. AI-enabled manufacturing will see higher production and high efficacy in overall operations. There are already a number of machines that are powered by AI and are capable of autonomously improving the efficiency of manufacturing processes. AI apps for manufacturing help them monitor quantities of material used, temperatures, lead times, errors, and downtime autonomously. Moreover, Manufacturers can harness the power of artificial intelligence for necessary quality checks and ensure delivery of products with utmost quality. This eliminates the need of numerous tests required to assure the desired quality. The system can analyze the data from manufacturing operations as well as existing test data and results and use AI-driven automated testing to cut down on test times

Artificial Intelligence Market: Key Segments

  • By Technology: Machine Learning, Natural Language Processing, Image Processing, and Speech Recognition
  • By Component: Hardware, Software, and Services
  • By End Use Industry: Manufacturing, Gaming, Media & Entertainment, Automotive & Transportation, Healthcare, Security, Retail, Construction, Aerospace & Defense, Food & Beverages, and Others
  • By Type: Artificial narrow intelligence (ANI), Artificial general intelligence (AGI), and Artificial superintelligence (ASI)
  • Based on Region Covers: North America, South America, Europe, Asia-Pacific, and Middle East & Africa with individual country-level analysis.

Artificial Intelligence Market: Report Scope

The report on the artificial intelligence market covers a deep dive analysis of historic, recent and current market trends. Furthermore, market share/ranking analysis of key players, market dynamics, competition landscape, country-wise analysis for each region covered and the entire supply chain dynamics are covered through the below segmentation.

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List of the leading companies operating in the Artificial Intelligence Market include:

  • Google LLC (Company Description, Company Overview, Product Synopsis, Key Developments, SWOT Analysis)
  • Microsoft
  • Facebook
  • IBM Corporation
  • Qualcomm Technologies, Inc.
  • Intel Corporation
  • NVIDIA Corporation
  • Renesas Electronics Corporation.
  • Xilinx
  • GENERAL ELECTRIC
  • Cisco Systems
  • Siemens
  • Oracle
  • SAS Institute Inc.
  • SAP
  • com, Inc.
  • Kensho Technologies, LLC.
  • Infosys Limited
  • Other Key Companies

Artificial Intelligence Market: Report Segmentation

For the scope of the report, In-depth segmentation is offered by Forencis Research

Artificial Intelligence Market, by Technology

  • Machine Learning
  • Natural Language Processing
  • Image Processing
  • Speech Recognition

Artificial Intelligence Market, by Component

Hardware

  • Processors
  • GPU
  • MPU
  • FPGA
  • Memory
  • Network

Software

  • AI Platforms
  • AI Solutions

Services

Artificial Intelligence Market, by End Use Industry

  • Manufacturing
  • Gaming, Media & Entertainment
  • Automotive & Transportation
  • Healthcare
  • Security
  • Retail
  • Construction
  • Aerospace & Defense
  • Food & Beverages
  • Others

Artificial Intelligence Market, by Type

  • Artificial narrow intelligence (ANI)
  • Artificial general intelligence (AGI)
  • Artificial superintelligence (ASI)

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Artificial Intelligence Market by Region

  • Asia-Pacific (China, Japan, South Korea, India, Taiwan, Rest of Asia-Pacific)
  • North America (US, Canada, Mexico)
  • Europe (Germany, Russia, France, Italy, UK, Spain, The Netherlands, Rest of Europe)
  • Middle East and Africa (Saudi Arabia, UAE, Rest of Middle East & Africa)
  • South America (Brazil, Argentina, Rest of South America)

Key Questions Answered by the Report

  • What are the prominent developments affecting the market globally and its growth?
  • What will be the impact of the developments in the market on the industry and the market players in the future?
  • What are the evolving variations of the market worldwide?
  • What are the evolving functions of the market globally?
  • What are the prominent aspects that will affect market growth globally during the study period?
  • Who are the key players operating in the market across the world?
  • How are the key players leveraging in the present market scenario globally?

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Table of Content

  1. INTRODUCTION
    1. Research Objectives
    2. Market Definition
    3. Research Scope
    4. Regional Coverage
    5. Research Timeline
    6. Assumptions
    7. Limitations
  1. RESEARCH DESIGN & SCOPE
    1. Introduction
    2. Primary Research
      1. Key Industry Expert Insight
    3. Secondary Research
      1. Vital Data from Secondary Sources
    4. Market Size Estimation
    5. Data Validation & Triangulation
  2. EXECUTIVE SUMMARY
  3. MARKET DYNAMICS
    1. Introduction
    2. Drivers
      1. Rising Adoption of Cloud-Based Application and Services
      2. Advances in Image and Voice Recognition
    3. Restraint
      1. Lack of Trained and Experienced Staff
    4. Opportunities
      1. Improving Operational Efficiency in Manufacturing Industry
    5. Challenges
      1. Initial Implementation Problems
  4. INDUSTRY TRENDS
    1. Porters Five Forces Analysis
      1. Power of Buyers
      2. Power of Suppliers
      3. Intensity of Competition
      4. Challenges of Substitutes
      5. Challenges of New Entrants
    2. Technological Trends
      1. AI Chips
      2. AI and Internet of Things (IoT)
      3. Automated Machine Learning
      4. AI & Cloud Computing
    3. Use Cases
  5. ARTIFICIAL INTELLIGENCE MARKET BY TECHNOLOGY, Market Size, USD Million (2019-2027)
    1. Introduction
    2. Machine Learning
    3. Natural Language Processing
    4. Image Processing
    5. Speech Recognition
  6. ARTIFICIAL INTELLIGENCE MARKETBY COMPONENT, Market Size, USD Million (2019-2027)
    1. Introduction
    2. Hardware
      1. Processors
        1. GPU
        2. MPU
        3. FPGA
      2. Memory
      3. Network
    3. Software
      1. AI Platforms
      2. AI Solutions
    4. Services
  7. ARTIFICIAL INTELLIGENCE MARKET BY END USE INDUSTRY, Market Size, USD Million (2019-2027)
    1. Introduction
    2. Manufacturing
    3. Gaming, Media & Entertainment
    4. Automotive & Transportation
    5. Healthcare
    6. Security
    7. Retail
    8. Construction
    9. Aerospace & Defense
    10. Food & Beverages
    11. Others
  8. ARTIFICIAL INTELLIGENCE MARKET BY TYPE, Market Size, USD Million (2019-2027)
    1. Introduction
    2. Artificial narrow intelligence (ANI)
    3. Artificial general intelligence (AGI)
    4. Artificial superintelligence (ASI)
  9. ARTIFICIAL INTELLIGENCE MARKET BY REGION, Market Size, USD Million (2019-2027)
    1. North America
      1. US
      2. Canada
      3. Mexico
    2. Europe
      1. Germany
      2. France
      3. Italy
      4. UK
      5. Russia
      6. Switzerland
      7. Rest of Europe
    3. Asia-Pacific
      1. China
      2. India
      3. Japan
      4. Taiwan
      5. South Korea
      6. Rest of Asia-Pacific
    4. Middle East and Africa
      1. Saudi Arabia
      2. UAE
      3. Rest of Middle East and Africa
    5. South America
      1. Brazil
      2. Argentina
      3. Rest of South America
  10. COMPETITIVE LANDSCAPE
    1. Introduction
    2. Market Ranking/Share Analysis of Key Companies
    3. Company Benchmarking
  11. COMPANY PROFILES
    1. Google LLC
      1. Company Overview
      2. Financial Overview
      3. Products/Solutions/Services Offered
      4. Key Developments
      5. SWOT Analysis
    2. Microsoft
    3. Facebook
    4. IBM Corporation
    5. Qualcomm Technologies, Inc.
    6. Intel Corporation
    7. NVIDIA Corporation
    8. Renesas Electronics Corporation.
    9. Xilinx
    10. GENERAL ELECTRIC
    11. Cisco Systems
    12. Siemens
    13. Oracle
    14. SAS Institute Inc.
    15. SAP
    16. Salesforce.com, Inc.
    17. Kensho Technologies, LLC.
    18. Infosys Limited
    19. Other Key Companies
  12. APPENDIX
    1. Key Industry Expert Insights
    2. Primary Discussion Guide
    3. Customization Options

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About Forencis Research

Forencis Research is a B2B market research, intelligence and advisory firm engaging in market research and consulting services across leading industries, globally. Our robust and meticulous research team provides high growth and niche syndicated reports, customized reports and consulting reports to the diverse global fortune clientele and intellectual institutions. Forencis Research database is a constantly evolving pool of reports and white paper studies which helps companies to foster accelerated revenue growth in global and regional markets. Forencis Research delivers market research and consulting reports on high growth markets to help companies dominate their competition and set themselves apart by attaining increased revenue growth. To enable exclusive insights around the target market, Forencis Research employs robust research Methodology & Design which includes data acquisition, data synthesis and data correlation, through Primary and Secondary Research. Through the obtained data, Top-down and bottom-up methods are exercised to attain and verify data sanity within the entire market. This market data is yet again correlated with Forencis Research’s internal database before presenting it in any of our final publications. These methods of data correlation and amalgamation benefit us to put forward accurate market estimates enabling our clients to transform their business, markets and most importantly their “REVENUES”.

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November 9, 2020, 11:13
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