Artificial Intelligence Market is expected to reach USD 25.7 billion in 2018 and anticipated to grow at a CAGR of 11.5% during the forecast period. Artificial intelligence primarily is the simulation of human intelligence in machines that are programmed to decode and behave like humans and mimic their actions. The term can also be applied to any machine that exhibits traits related to a persons mind like learning and problem-solving.

The AI market for hardware is expected to grow at a high CAGR during the forecast period. This can be attributed to the increasing need for hardware platforms with high computing power to run various AI software. The presence of major companies that contribute to the AI sector in North America has made the region a major market for hardware related to AI.

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Artificial intelligence is gaining rising importance due to its complicated and data-driven applications such as image, face, voice, and speech recognition. The technology offers a significant investment opportunity, as it can be leveraged over other technologies to overcome the challenges of data storage, high data volumes, and high computing power. Rapid adoption of virtual reality (VR) and AI in end-use industries such as retail, healthcare, and automotive is expected to augment market growth.

This report also includes the profiles of key artificial intelligence market companies along with their SWOT analysis and market strategies. In addition, these competitive landscapes provide a detailed description of each company including future capacities, key mergers & acquisitions, financial overview, partnerships, collaborations, new product launch, new product developments, and other latest industrial developments.

Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:Intel CorporationNVIDIAXilinxSamsungFacebookMicron TechnologyIBM CorporationGoogleMicrosoft CorporationAWS

Key Factors Impacting the Growth of Artificial Intelligence Market:The integration of artificial intelligence and machine learning are expected to influence the market growth.Growth in adoption of virtual reality in the end-use industries

The factors that propel the growth of the artificial intelligence market include the significant improvements in commercial aspects of artificial intelligence advancements and deployment in dynamic artificial intelligence solutions that are propelling industry growth. Moreover, the rapid improvements in high computing power have contributed to the rising adoption of artificial intelligence and robotics in end-use industries such as healthcare, automotive, and manufacturing.

Key Developments in Artificial Intelligence Market:The OECD is expected to launch the OECD AI Policy Observatory on 27 February 2020, which will be the online platform to shape and share AI policies. These Principles on AI include concrete recommendations for public policy and strategy. The general scope of these principles ensures they can be applied to AI developments, worldwide.In January 2020, Microsoft Corporation revealed USD 40 million initiative in the global health challenges with AI technology. The initiative is based on the providing data science experts, technology, and other resources to the partner organizations in the global market to tackle health projects.In June 2019, the companies Baker Hughes and C3.ai introduced BHC3 production optimization at its annual meeting in Florence, the second artificial intelligence (AI) application developed under the BHC3 strategic relationship.In October 2019, the government of Abu Dhabi introduced worlds first dedicated AI University in Masdar City with the latest state-of-the-art facilities and equipment, the university will offer both masters (two years) and PhD programmes (four years).

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The global artificial intelligence market has been segmented by North America, Western Europe, Eastern Europe, Asia Pacific, Middle East, & Rest of the World. North America governed the worldwide artificial intelligence AI market in terms of revenue in 2018, due to the presence of leading players within the region, strong technical adoption base, and availability of state funding.

Furthermore, the rising adoption of cloud services in the US and Canada is significantly contributing to the regional market. Also, the direct investment and direct involvement of the government in terms of money are expected to further propel the growth of the artificial intelligence market during the forecast period.

Market Segmentation:By OfferingHardwareSoftwareServices

By TechnologyMachine LearningNatural Language ProcessingContext-Aware ComputingComputer Vision

By End-User IndustryHealthcareManufacturingAutomotiveAgricultureRetailOthers

By Region:North AmericaBy Country (US, Canada, Mexico)By OfferingBy TechnologyBy End-User Industry

Western EuropeBy Country (Germany, UK, France, Italy, Spain, Rest of Western Europe)By OfferingBy TechnologyBy End-User Industry

Eastern EuropeBy Country (Russia, Turkey, Rest of Eastern Europe)By OfferingBy TechnologyBy End-User Industry

Asia PacificBy Country (China, Japan, India, South Korea, Australia, Rest of Asia Pacific)By OfferingBy TechnologyBy End-User Industry

Middle EastBy Country (UAE, Saudi Arabia, Qatar, Iran, Rest of Middle East)By OfferingBy TechnologyBy End-User Industry

Rest of the WorldBy Region (South America, Africa)By OfferingBy TechnologyBy End-User Industry

Reasons to Buy This Report:Market size estimation of the artificial intelligence market on a regional and global basisUnique research Usage for market size estimation and forecastProfiling of major companies operating in the artificial intelligence market with key developmentsBroad scope to cover all the possible segments helping every stakeholder in the artificial intelligence market

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Artificial Intelligence Market size project to reach USD 25.7Billion in 2016 grow at a CAGR of 11.5% during the forecast 2028 - Cole of Duty