HOME Top Market Reports Artificial Intelligence Market by Offering (Hardware, Software, Services), Technology (Machine Learning, Natural Language Processing, Context-Aware Computing, Computer Vision), End-User Industry, and Geography - Global Forecast to 2025

Artificial Intelligence Market by Offering (Hardware, Software, Services), Technology (Machine Learning, Natural Language Processing, Context-Aware Computing, Computer Vision), End-User Industry, and Geography - Global Forecast to 2025

By: marketsandmarkets.com
Publishing Date: February 2018
Report Code: SE 4053

 

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The artificial intelligence market was valued at USD 16.06 billion in 2017 and is expected to reach USD 190.61 billion by 2025, at a CAGR of 36.62% during the forecast period. The base year considered for the study is 2017, and the forecast period is between 2018 and 2025.

Study Objectives

  • To define, describe, and forecast the overall artificial intelligence market segmented on the basis of offerings, technologies, end-user industries, and regions
  • To forecast the market size, in terms of value, for segments with respect to 4 major regions North America, Europe, APAC, and RoW
  • To provide detailed information regarding the major factors (drivers, restraints, opportunities, and industry-specific challenges) influencing the growth of the artificial intelligence market
  • To analyze the micromarkets with respect to individual growth trends, prospects, and contributions to the overall artificial intelligence market
  • To analyze opportunities in the market for various stakeholders by identifying the high-growth segments of the artificial intelligence market
  • To analyze various strategic developments, such as joint ventures, mergers and acquisitions, product launches, and research and development (R&D), in the artificial intelligence market

Research Methodology

This research study involves the use of secondary sources, directories, and databases (such as D&B Hoovers, Bloomberg Businessweek, Factiva, and OneSource) to identify and collect information useful for the extensive technical, market-oriented, and commercial study of the artificial intelligence market. Primary sources mainly comprise several experts from core and related industries, along with preferred suppliers, manufacturers, distributors, service providers, technology developers, alliances, and standards and certification organizations related to the various parts of this industry’s value chain. In-depth interviews with various primary respondents, including key industry participants, subject matter experts (SMEs), C-level executives of key companies, and consultants, have been conducted to obtain and verify critical qualitative and quantitative information, as well as assess prospects. The breakdown of the profiles of primaries has been depicted in the below figure.

Artificial Intelligence Market

To know about the assumptions considered for the study, download the pdf brochure

This report provides valuable insights into the ecosystem of the artificial intelligence market. The major players in this market include Intel (US), NVIDIA (US), Xilinx (US), Samsung (South Korea), Facebook (US), Micron Technology (US), IBM (US), Google (US), Microsoft (US), and AWS (US).

Key Target Audience

  • Semiconductor companies
  • Technology providers
  • Universities and research organizations
  • System integrators
  • AI solution providers
  • AI platform providers
  • Cloud service providers
  • AI system providers
  • Investors and venture capitalists

Scope of the Report:

The report segments the artificial intelligence market into the following segments:

Artificial Intelligence Market, by Offering

  • Hardware
  • Software
  • Services

Artificial Intelligence Market, by Technology

  • Machine Learning
  • Natural Language Processing
  • Context-Aware Computing
  • Computer Vision

Artificial Intelligence Market, by End-User Industry

  • Healthcare
  • Manufacturing
  • Automotive
  • Agriculture
  • Retail
  • Security
  • Human Resources
  • Marketing
  • Law
  • Fintech

Artificial Intelligence Market, by Region

  • North America
  • Europe
  • APAC
  • RoW

Available Customizations

With the given market data, MarketsandMarkets offers customizations according to the company’s specific needs. The following customization options are available for the report:

  • Company Information
    • Detailed analysis and profiling of additional market players (up to 10) 

Table of Contents

1 Introduction
    1.1 Objectives of the Study
    1.2 Market Definition
    1.3 Study Scope
           1.3.1 Markets Covered
           1.3.2 Years Considered for This Study
    1.4 Currency
    1.5 Limitations
    1.6 Stakeholders

2 Research Methodology
    2.1 Research Data
           2.1.1 Secondary Data
                    2.1.1.1 Key Data From Secondary Sources
           2.1.2 Primary Data
                    2.1.2.1 Key Data From Primary Sources
                    2.1.2.2 Key Industry Insights
                    2.1.2.3 Breakdown of Primaries
    2.2 Market Size Estimation
           2.2.1 Bottom-Up Approach
           2.2.2 Top-Down Approach
    2.3 Market Breakdown & Data Triangulation
    2.4 Research Assumptions

3 Executive Summary

4 Premium Insights
    4.1 Attractive Opportunities in Artificial Intelligence Market
    4.2 Artificial Intelligence Market, By Processor
    4.3 Artificial Intelligence Market, By Technology for Manufacturing End-User
    4.4 Artificial Intelligence Market in APAC, By End-User Industry
    4.5 Artificial Intelligence Market, By Country

5 Market Overview
    5.1 Introduction
    5.2 Market Dynamics
           5.2.1 Drivers
                    5.2.1.1 Growth in Big Data
                    5.2.1.2 Growth in Adoption of Cloud-Based Applications and Services
                    5.2.1.3 Increase in Demand for Intelligent Virtual Assistants
           5.2.2 Restraints
                    5.2.2.1 Limited Number of AI Experts
           5.2.3 Opportunities
                    5.2.3.1 Improving Operational Efficiency in Manufacturing Industry
                    5.2.3.2 Adoption of AI to Improve Customer Service
           5.2.4 Challenges
                    5.2.4.1 Concerns Regarding Data Privacy
                    5.2.4.2 Unreliability of AI Algorithms
    5.3 Investments in AI

6 Artificial Intelligence Market, By Offering
    6.1 Introduction
    6.2 Hardware
           6.2.1 Processors
                    6.2.1.1 MPU
                    6.2.1.2 GPU
                    6.2.1.3 FPGA
                    6.2.1.4 Others
           6.2.2 Memory
           6.2.3 Network
    6.3 Software
           6.3.1 AI Platforms
                    6.3.1.1 Application Program Interface (API)
                    6.3.1.2 Machine Learning Framework
           6.3.2 AI Solutions
                    6.3.2.1 On-Premise
                    6.3.2.2 Cloud
    6.4 Services
           6.4.1 Deployment & Integration
           6.4.2 Support & Maintenance

7 Artificial Intelligence Market, By Technology
    7.1 Introduction
    7.2 Machine Learning
           7.2.1 Deep Learning
           7.2.2 Supervised Learning
           7.2.3 Unsupervised Learning
           7.2.4 Reinforcement Learning
           7.2.5 Others
    7.3 Natural Language Processing (NLP)
    7.4 Context Awareness
    7.5 Computer Vision

8 Artificial Intelligence Market, By End-User
    8.1 Introduction
    8.2 Healthcare
           8.2.1 Patient Data & Risk Analysis
           8.2.2 Lifestyle Management & Monitoring
           8.2.3 Precision Medicine
           8.2.4 In-Patient Care & Hospital Management
           8.2.5 Medical Imaging & Diagnostics
           8.2.6 Drug Discovery
           8.2.7 Virtual Assistant
           8.2.8 Wearables
           8.2.9 Research
    8.3 Manufacturing
           8.3.1 Material Movement
           8.3.2 Predictive Maintenance and Machinery Inspection
           8.3.3 Production Planning
           8.3.4 Field Service
           8.3.5 Reclamation
           8.3.6 Quality Control
    8.4 Automotive
           8.4.1 Autonomous Driving
           8.4.2 HMI
           8.4.3 Semi-Autonomous Driving
    8.5 Agriculture
           8.5.1 Precision Farming
           8.5.2 Livestock Monitoring
           8.5.3 Drone Analytics
           8.5.4 Agriculture Robots
           8.5.5 Others
    8.6 Retail
           8.6.1 Product Recommendation and Planning
           8.6.2 Customer Relationship Management
           8.6.3 Visual Search
           8.6.4 Virtual Assistant
           8.6.5 Price Optimization
           8.6.6 Payment Services Management
           8.6.7 Supply Chain Management and Demand Planning
           8.6.8 Others
    8.7 Security
           8.7.1 Identity and Access Management
           8.7.2 Risk and Compliance Management
           8.7.3 Encryption
           8.7.4 Data Loss Prevention
           8.7.5 Unified Threat Management
           8.7.6 Antivirus/Antimalware
           8.7.7 Intrusion Detection/Prevention Systems
           8.7.8 Others
    8.8 Human Resources
           8.8.1 Virtual Assistant
           8.8.2 Applicant Tracking & Assessment
           8.8.3 Personalized Learning and Development
           8.8.4 HR Analytics
           8.8.5 Job Recommendation
           8.8.6 Sentiment Analysis
    8.9 Marketing
           8.9.1 Social Media Advertising
           8.9.2 Search Advertising
           8.9.3 Dynamic Pricing
           8.9.4 Virtual Assistant
           8.9.5 Content Curation
           8.9.6 Sales & Marketing Automation
           8.9.7 Analytics Platform
           8.9.8 Others
    8.10 Law
           8.10.1 Ediscovery
           8.10.2 Legal Research
           8.10.3 Contract Analysis
           8.10.4 Case Prediction
           8.10.5 Compliance
           8.10.6 Others
    8.11 Fintech
           8.11.1 Virtual Assistant
           8.11.2 Business Analytics & Reporting
           8.11.3 Customer Behaviour Analytics
           8.11.4 Others

9 Geographic Analysis
    9.1 Introduction
    9.2 North America
           9.2.1 US
           9.2.2 Canada
           9.2.3 Mexico
    9.3 Europe
           9.3.1 UK
           9.3.2 Germany
           9.3.3 France
           9.3.4 Italy
           9.3.5 Spain
           9.3.6 Rest of Europe
    9.4 APAC
           9.4.1 China
           9.4.2 Japan
           9.4.3 South Korea
           9.4.4 India
           9.4.5 Rest of APAC
    9.5 Rest of the World
           9.5.1 South America
           9.5.2 Middle East and Africa

10 Competitive Landscape
     10.1 Introduction
     10.2 Market Ranking Analysis of the Artificial Intelligence Market
     10.3 Competitive Situations and Trends
             10.3.1 Product Launches
             10.3.2 Agreements, Partnerships, Collaborations, & Contracts
             10.3.3 Merger & Acquisitions
             10.3.4 Expansion
     10.4 Major Acquisitions in Artificial Intelligence Market Between 2012 and 2017

11 Company Profile
     11.1 Nvidia
             11.1.1 Business Overview
             11.1.2 Products Offered
             11.1.3 Recent Developments
             11.1.4 SWOT Analysis
             11.1.5 MnM View
     11.2 IBM
             11.2.1 Business Overview
             11.2.2 Products Offered
             11.2.3 Recent Developments
             11.2.4 SWOT Analysis
             11.2.5 MnM View
     11.3 Intel
             11.3.1 Business Overview
             11.3.2 Products Offered
             11.3.3 Recent Developments
             11.3.4 SWOT Analysis
             11.3.5 MnM View
     11.4 Xilinx
             11.4.1 Business Overview
             11.4.2 Products Offered
             11.4.3 Recent Developments
             11.4.4 SWOT Analysis
             11.4.5 MnM View
     11.5 Samsung Electronics
             11.5.1 Business Overview
             11.5.2 Products Offered
             11.5.3 Recent Developments
             11.5.4 SWOT Analysis
             11.5.5 MnM View
     11.6 Micron Technology
             11.6.1 Business Overview
             11.6.2 Products Offered
             11.6.3 Recent Developments
             11.6.4 SWOT Analysis
             11.6.5 MnM View
     11.7 Microsoft
             11.7.1 Business Overview
             11.7.2 Products Offered
             11.7.3 Recent Developments
             11.7.4 SWOT Analysis
             11.7.5 MnM View
     11.8 Google
             11.8.1 Business Overview
             11.8.2 Products Offered
             11.8.3 Recent Developments
             11.8.4 SWOT Analysis
             11.8.5 MnM View
     11.9 Amazon Web Services (AWS)
             11.9.1 Business Overview
             11.9.2 Products Offered
             11.9.3 Recent Developments
             11.9.4 SWOT Analysis
             11.9.5 MnM View
     11.10 Facebook
             11.10.1 Business Overview
             11.10.2 Products Offered
             11.10.3 Recent Developments
             11.10.4 MnM View
     11.11 Baidu
             11.11.1 Business Overview
             11.11.2 Products Offered
             11.11.3 Recent Developments
             11.11.4 MnM View
     11.12 Oracle
             11.12.1 Business Overview
             11.12.2 Products Offered
             11.12.3 Recent Developments
             11.12.4 MnM View
     11.13 Salesforce
             11.13.1 Business Overview
             11.13.2 Products Offered
             11.13.3 Recent Developments
             11.13.4 MnM View
     11.14 SAS
             11.14.1 Business Overview
             11.14.2 Products Offered
             11.14.3 Recent Developments
             11.14.4 MnM View
     11.15 SAP
             11.15.1 Business Overview
             11.15.2 Products Offered
             11.15.3 Recent Developments
             11.15.4 MnM View
     11.16 Other Companies
             11.16.1 General Vision
             11.16.2 Graphcore
             11.16.3 Mellanox Technologies
             11.16.4 Darktrace
             11.16.5 Cylance
             11.16.6 Didi Chuxing
             11.16.7 Zoox Inc.
             11.16.8 Face++
             11.16.9 Inbenta
             11.16.10 Zephyr Health
             11.16.11 Butterfly Network
             11.16.12 Atomwise
             11.16.13 Vicarious
             11.16.14 Preferred Network
             11.16.15 Aibrain

12 Appendix
     12.1 Insights From Industry Experts
     12.2 Discussion Guide
     12.3 Knowledge Store: Marketsandmarkets’ Subscription Portal
     12.4 Introducing RT: Real-Time Market Intelligence
     12.5 Available Customization
     12.6 Related Reports


List of Tables (67 Tables)

Table 1 Major Investments in AI, 2014-2018
Table 2 Artificial Intelligence Market, By Offering, 2015–2025 (USD Billion)
Table 3 Artificial Intelligence Market for Hardware, By Industry , 2015–2025 (USD Billion)
Table 4 Artificial Intelligence Market, By Hardware, 2015–2025 (USD Billion)
Table 5 Artificial Intelligence Market, By Processors, 2015–2025 (USD Billion)
Table 6 Artificial Intelligence Market, By Processors , 2015–2025 ( Thousand Units)
Table 7 Artificial Intelligence Market for Software, By Industry, 2015–2025 (USD Billion)
Table 8 Artificial Intelligence Market, By Software , 2015–2025 (USD Billion)
Table 9 Artificial Intelligence Market for AI Platform, By Software, 2015–2025 (USD Billion)
Table 10 Artificial Intelligence Market, By AI Solution , 2015–2025 (USD Billion)
Table 11 Artificial Intelligence Market for Services, By Industry , 2015–2025 (USD Million)
Table 12 Artificial Intelligence Market, By Service , 2015–2025 (USD Billion)
Table 13 Artificial Intelligence Market, By Technology , 2015–2025 (USD Billion)
Table 14 Artificial Intelligence Market for Machine Learning, By Industry , 2015–2025 (USD Billion)
Table 15 Artificial Intelligence Market, By Machine Learning , 2015–2025 (USD Billion)
Table 16 Artificial Intelligence Market for Natural Language Processing, By Industry, 2015–2025 (USD Billion)
Table 17 Artificial Intelligence Market for Natural Language Processing, By Process , 2015–2025 (USD Billion)
Table 18 Artificial Intelligence Market for Context Awareness, By Industry , 2015–2025 (USD Billion)
Table 19 Artificial Intelligence Market for Context Awareness in Healthcare, By Process, 2015–2025 (USD Billion)
Table 20 Artificial Intelligence Market for Computer Vision, By Industry , 2015–2025 (USD Million)
Table 21 Artificial Intelligence Market, By End User, 2015–2025 (USD Billion)
Table 22 Artificial Intelligence Market for Healthcare, By Technology, 2015–2025 (USD Billion)
Table 23 Artificial Intelligence Market for Healthcare, By Region, 2015–2025 (USD Billion)
Table 24 Artificial Intelligence Market for Healthcare, By Application , 2015–2025 (USD Billion)
Table 25 Artificial Intelligence Market for Manufacturing, By Technology , 2015–2025 (USD Billion)
Table 26 Artificial Intelligence Market for Manufacturing, By Region , 2015–2025 (USD Billion)
Table 27 Artificial Intelligence Market for Manufacturing, By Application , 2015–2025 (USD Billion)
Table 28 Artificial Intelligence Market for Automotive, By Technology , 2015–2025 (USD Billion)
Table 29 Artificial Intelligence Market for Automotive, By Region, 2015–2025 (USD Billion)
Table 30 Artificial Intelligence Market for Automotive, By Application , 2015–2025 (USD Million)
Table 31 Artificial Intelligence Market for Agriculture, By Technology , 2015–2025 (USD Billion)
Table 32 Artificial Intelligence Market for Agriculture, By Region , 2015–2025 (USD Billion)
Table 33 Artificial Intelligence Market for Agriculture, By Application , 2015–2025 (USD Million)
Table 34 Artificial Intelligence Market for Retail, By Technology , 2015–2025 (USD Million)
Table 35 Artificial Intelligence Market for Retail, By Region, 2015–2025 (USD Billion)
Table 36 Artificial Intelligence Market for Retail, By Solution , 2015–2025 (USD Billion)
Table 37 Artificial Intelligence Market for Security, By Technology , 2015–2025 (USD Billion)
Table 38 Artificial Intelligence Market for Security, By Region , 2015–2025 (USD Billion)
Table 39 Artificial Intelligence Market for Security, By Security Solution , 2015–2025 (USD Billion)
Table 40 Artificial Intelligence Market for Human Resources, By Technology , 2015–2025 (USD Million)
Table 41 Artificial Intelligence Market for Human Resources, By Region, 2015–2025 (USD Million)
Table 42 Artificial Intelligence Market for Human Resources, By Application, 2015–2025 (USD Million)
Table 43 Artificial Intelligence Market for Marketing, By Technology, 2015–2025 (USD Billion)
Table 44 Artificial Intelligence Market for Marketing, By Region , 2015–2025 (USD Billion)
Table 45 Artificial Intelligence Market for Marketing, By Application, 2015–2025 (USD Billion)
Table 46 Artificial Intelligence Market for Law, By Technology , 2015–2025 (USD Billion)
Table 47 Artificial Intelligence Market for Law, By Region , 2015–2025 (USD Billion)
Table 48 Artificial Intelligence Market for Law, By Application , 2015–2025 (USD Million)
Table 49 Artificial Intelligence Market for Fintech, By Technology , 2015–2025 (USD Billion)
Table 50 Artificial Intelligence Market for Fintech, By Region , 2015–2025 (USD Billion)
Table 51 Artificial Intelligence Market for Fintech, By Application , 2015–2025 (USD Billion)
Table 52 Artificial Intelligence Market for Business Analytics & Reporting , By Application Type , 2015–2025 (USD Billion)
Table 53 Artificial Intelligence Market Customer Behaviour Analytics, By Application Type , 2015–2025 (USD Billion)
Table 54 Artificial Intelligence Market, By Region, 2015–2025 (USD Billion)
Table 55 Artificial Intelligence Market in North America, By End-User Industry, 2015–2025 (USD Billion)
Table 56 Artificial Intelligence Market in North America, By Country, 2015–2025(USD Billion)
Table 57 Artificial Intelligence Market in Europe, By End-User Industry, 2015–2025 (USD Billion)
Table 58 Artificial Intelligence Market in Europe, By Country, 2015–2025 (USD Billion)
Table 59 Artificial Intelligence Market in APAC, By End-User Industry, 2015–2025 (USD Billion)
Table 60 Artificial Intelligence Market in APAC, By Country, 2015–2025 (USD Billion)
Table 61 Artificial Intelligence Market in RoW, By End-User Industry, 2015–2025 (USD Million)
Table 62 Artificial Intelligence Market in RoW, By Region, 2015–2025(USD Billion)
Table 63 Ranking of Key Companies in Artificial Intelligence Market (2017)
Table 64 Product Launches, 2015–2017
Table 65 Agreements, Partnerships, Collaborations, Contracts, and Joint Ventures, 2015–2017
Table 66 Merger & Acquisitions
Table 67 Expansion


List of Figures (48 Figures)

Figure 1 AI Market: Research Design
Figure 2 Process Flow of Market Size Estimation
Figure 3 Market Size Estimation: Bottom-Up Approach
Figure 4 Market Size Estimation: Top-Down Approach
Figure 5 Market Breakdown and Data Triangulation
Figure 6 Service Market is Expected to Grow at the Highest CAGR Between 2018 and 2025 for Artificial Intelligence
Figure 7 Artificial Intelligence Market for Memory is Expected to Grow at the Highest Rate During Between 2018 and 2025
Figure 8 Machine Learning Technology Hold the Largest Market Share of Artificial Intelligence Market in 2018
Figure 9 Artificial Intelligence Market in Manufacturing Industry is Expected to Grow at the Highest CAGR During the Forecast Period
Figure 10 Artificial Intelligence Market in APAC Expected to Grow at the Highest CAGR Between 2018 and 2025
Figure 11 Artificial Intelligence Market for APAC to Grow at High CAGR Between 2018 and 2025
Figure 12 GPU is Expected to Grow at the Highest Cage for Artificial Intelligence Market in 2018
Figure 13 Machine Learning Expected to Grow at the Highest CAGR for Manufacturing End-User of Artificial Intelligence Market in 2018
Figure 14 Marketing End-User Industry in APAC to Hold Largest Share of Artificial Intelligence Market in 2018
Figure 15 China is Expected to Grow at the Highest CAGR for Artificial Intelligence Market During the Forecast Period
Figure 16 AI Market: Drivers, Restraints, Opportunities & Challenges
Figure 17 Service Market for Artificial Intelligence is Expected to Grow at the Highest CAGR During Forecast Period
Figure 18 GPU is Expected to Grow at the Highest CAGR in Processors for Artificial Intelligence Market
Figure 19 Cloud-Based Deployment for AI Solution is Expected to Grow at A Higher CAGR in Artificial Intelligence Market
Figure 20 Computer Vision Technology for Artificial Intelligence Market is Expected to Grow at the Highest CAGR During the Forecast Period
Figure 21 IVR Process is Expected to Grow at the Highest CAGR Natural Language Processing for Artificial Intelligence Market
Figure 22 Manufacturing Market for Artificial Intelligence is Expected to Grow at the Highest CAGR During Forecast Period
Figure 23 Machine Learning Technology Market for Artificial Intelligence in Manufacturing is Expected to Grow at the Highest CAGR During Forecast Period
Figure 24 Autonomous Driving for Artificial Intelligence in Automotive Market is Expected to Grow at the Highest CAGR During Forecast Period
Figure 25 APAC for Artificial Intelligence in Retail Market is Expected to Grow at the Highest CAGR During Forecast Period
Figure 26 Machine Learning Technology in HR for Artificial Intelligence Market is Expected to Grow at the Highest CAGR During Forecast Period
Figure 27 Contract Analysis in Law for Artificial Intelligence Market is Expected to Grow at the Highest CAGR During Forecast Period
Figure 28 Artificial Intelligence Market in APAC to Grow at Highest CAGR From 2018 to 2025
Figure 29 Artificial Intelligence Market in China to Grow at Highest CAGR Between 2018 and 2025
Figure 30 Market Snapshot: North America
Figure 31 Market Snapshot: Europe
Figure 32 Market Snapshot: APAC
Figure 33 Companies Adopted Product Launches as the Key Growth Strategies Between 2015 and 2017
Figure 34 Nvidia: Company Snapshot
Figure 35 IBM: Company Snapshot
Figure 36 Intel: Company Snapshot
Figure 37 Xilinx: Company Snapshot
Figure 38 Samsung Electronics: Company Snapshot
Figure 39 Micron Technology: Company Snapshot
Figure 40 Microsoft: Company Snapshot
Figure 41 Google: Company Snapshot
Figure 42 AWS: Company Snapshot
Figure 43 Facebook: Company Snapshot
Figure 44 Baidu: Company Snapshot
Figure 45 Oracle: Company Snapshot
Figure 46 Salesforce: Company Snapshot
Figure 47 SAS: Company Snapshot
Figure 48 SAP: Company Snapshot

The artificial intelligence market is expected to reach USD 190.61 Billion by 2025 from USD 21.46 Billion in 2018, at a CAGR of 36.62% during the forecast period. The market growth is mainly driven by factors such as the increasing adoption of cloud-based applications and services, growing big data, and increasing demand for intelligent virtual assistants. The major restraint for the market is the limited number of AI technology experts.

In this report, the size of the artificial intelligence market has been arrived at based on segments such as offering, technology, end-user industry, and geography. On the basis of offerings, the artificial intelligence market has been segmented into hardware, software, and services. The adoption of AI is rapidly increasing in various applications. As AI is a complex technology requiring the implementation of sophisticated algorithms, AI-based systems require deployment and integration, and support and maintenance services. Also, most companies that manufacture and develop AI-based systems and related software provide both online and offline support, depending on the application.

On the basis of technologies, the artificial intelligence market has been segmented into machine learning (ML), natural language processing (NLP), context-aware computing, and computer vision. The market for computer vision is expected to grow at the highest CAGR. The growing adoption of computer vision in autonomous and semiautonomous applications in various industries, such as manufacturing and automotive, is propelling the growth of this technology in the AI market.

The market has been segmented on the basis of end-user industries into healthcare, manufacturing, automotive, agriculture, retail, security, marketing, human resources, law, and fintech. Of all the end-user industries, the market for manufacturing is expected to grow at the highest CAGR during the forecast period. Increasing data volume derived from the manufacturing value chain has led to the involvement of AI-enabled data analytics in the manufacturing sector. In addition, several industry initiatives, such as Industry 4.0, a connected manufacturing initiative by the Government of Germany, have proliferated the growth of AI-enabled devices in manufacturing.

Artificial Intelligence Market

On the basis of geography, the artificial intelligence market has been segmented into North America, Europe, APAC, and RoW. The artificial intelligence market in APAC is expected to grow at the highest CAGR during the forecast period. This growth can be attributed to the increasing adoption of deep learning and NLP technologies in finance, agriculture, marketing, and law applications in APAC. Moreover, the presence of major players in the artificial intelligence ecosystem results in the increasing adoption of these systems in APAC.

However, the limited number of industry experts for artificial intelligence is a major restraint for the market. The key players in this market focus on organic growth strategies, such as product launches, to expand their business and related offerings. Some of the players in this market are Intel (US), NVIDIA (US), Xilinx (US), Samsung (South Korea), Facebook (US), Micron Technology (US), IBM (US), Google (US), Microsoft (US), and AWS (US).

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