HOME Research Insight IBM Corporation and NVIDIA Corporation (U.S) are main Players in Artificial Intelligence Market

IBM Corporation and NVIDIA Corporation (U.S) are main Players in Artificial Intelligence Market

Artificial intelligence (AI) refers to the theory and development of computer systems that can imitate human intelligence. Most of the AI products are currently in the introductory phase of their life cycle. These systems are likely to improve human-machine interface. AI-enabled products perceive their environment and take action to maximize the chances of success. AI is being developed to create expert systems and incorporate human intelligence in machines. Some of the applications of AI are self-driving cars, industry robots, chatbots, AI-enabled cyber security systems, wealth management systems, and AI drones. The developing IT infrastructure and rising penetration of smartphones and other connected devices in technologically advancing countries such as China, India, Malaysia, Thailand, and Brazil drive the growth of the AI market. The lack of skilled workforce and increasing minimum wages of highly skilled jobs in the manufacturing sector lead to the adoption of AI-enabled robots. The artificial intelligence market is expected to be worth USD 16.06 Billion by 2022, growing at a CAGR of 62.9% from 2016 to 2022.

The global AI market is fairly competitive and has the presence of leading and emerging players. Mergers and acquisitions has been one of the most prominent strategies followed by the key industry players in the recent years. Moreover, new product development is also one the major growth strategies followed by the companies in the market. The key players following these strategies are Intel Corporation (U.S.), IBM Corporation (U.S.), Microsoft Corporation (U.S.), Sentient Technologies, Inc., Google Inc., NVIDIA Corporation, and Numenta, Inc., among others.  

IBM Corporation was an important player in the artificial intelligence market in 2015. The company is engaged in the development of various AI-related software solutions and products. It markets its products worldwide through its sales and distribution network. Pertaining to its AI business, the company offers basic and applied research in machine learning, deep question answering, search and planning, and cognitive architectures. IBM is one of the most prominent companies offering AI products in the healthcare sector. The company has acquired many emerging players in the AI market as part of its key growth strategy in the recent past. For instance, in February 2016, IBM acquired Truven Health Analytics (U.S.), a leading provider of cloud-based healthcare data, analytics, and insights. The acquisition of the Michigan (U.S.)-based Truven was completed for USD 2.6 billion. With this, the company aims to train Watson Health’s cognitive and derive information from Truven’s health data. 

NVIDIA Corporation (U.S) also plays a major role in the development of the AI market globally. The company has largely focused on the development of AI hardware and related software development kits. These new product launches are the result of a continuous increase in its R&D expenditure over the past few years. For instance, in April 2016, NVIDIA Corporation unveiled the industry’ first deep learning system, known as “NVIDIA DGX-1.” It is a completely integrated system with hardware, deep learning software, and development tool kit. This system is developed with latest GPU accelerators which are equivalent to 250x86 servers. Moreover, DGX-1 is developed on NVIDIA Tesla P100 GPUs and is developed on NVIDIA Pascal GPU Architecture.

Related Reports:

Artificial Intelligence Market by Technology (Deep Learning, Robotics, Digital Personal Assistant, Querying Method, Natural Language Processing, Context Aware Processing), Offering, End-User Industry, and Geography - Global Forecast to 2022

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