KEY FINDINGS Owing to its potential application in areas like education, healthcare & wellness, economic inclusion, environment, energy, entertainment and social welfare, the global market for artificial intelligence is anticipated to prosper further over the forecast period of 2018-2026, registering a CAGR of 45.22%.
MARKET INSIGHTS The segmentation of the global artificial intelligence market is done by system type, offerings, by verticals, and by technology.System types include decision support processing, intelligence system, fuzzy systems and hybrid systems.
AI offerings could be in the form of services, software or hardware.The market verticals include banking, financial service & insurance, technology & telecommunications, retail, automotive and transportation, media & entertainment, agriculture, resources & utilities, healthcare, manufacturing, education, etc.
On the basis of technology, the global artificial intelligence market is sub-divided into robotics, machine learning, image processing, natural language processing, speech recognition, and cognitive computing (other technology).
REGIONAL INSIGHTS The global artificial intelligence market is spread across the regions of Europe, Asia-Pacific, North America and the rest of the world.On account of several favourable government schemes and programmes that are aimed at boosting the adoption of Artificial Intelligence in countries like the USA and Canada, the North American regional market is dominating the global AI market.
Likewise, the Asia-Pacific market is also fast progressing. The region has witnessed a substantial rise in investments from private as well as government organizations for the further development of this technology.
COMPETITIVE INSIGHTS Some of the leading companies that are dealing in AI technology are 24/7 Technologies, Ge Healthcare, Apple Inc, Google Inc, International Business Machines Corporation (IBM), Intel Corporation, Ipsoft Inc, Microstrategy Inc, Microsoft Corporation, Next IT Corporation, Qlik Technologies, Nvidia Corporation, Rocket Fuel Inc. (Acquired By Sizmek, Inc.), Uber Technologies Inc and Shell Oil Company.
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