According to the latest market research report “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″,
The artificial intelligence market is expected to grow from USD 21.46
Billion in 2018 to USD 190.61 Billion by 2025, at a CAGR of 36.62%
between 2018 and 2025. Major drivers for the market are growing big
data, the increasing adoption of cloud-based applications and services,
and increasing demand for intelligent virtual assistants. The major
restraint for the market is the limited number of AI technology experts.
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Browse 68 tables and 52 figures spread through 222 pages and in-depth TOC on “Artificial Intelligence Market – Global Forecast to 2025″
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Artificial intelligence market for services to grow at highest CAGR during forecast period
The market for services is expected to grow at the
highest CAGR between 2018 and 2025. 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.
Artificial intelligence market for manufacturing end-user industry to grow at highest CAGR during forecast period
Of all the end-use 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.
North America to hold largest market share, and market in APAC to witness highest growth
North America is expected to hold the largest share
of the artificial intelligence market between 2018 and 2025. North
America, being technologically advanced, is a leader in the market. It
is the early adopter of the latest technologies; moreover, awareness
about the benefits of artificial intelligence is high in the region. In
addition, the presence of prominent AI technology providers, such as IBM
(US), Google (US), Microsoft (US), NVIDIA (US), Intel (US), Facebook
(US), MetaMind (US), Tute Genomics (US), and AWS (US), is complementing
the growth of the market in this region.
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The artificial intelligence market in APAC is
expected to grow at the highest CAGR during the forecast period. The
increasing adoption of deep learning and NLP technologies in finance,
agriculture, marketing, and law applications is driving the market in
APAC.
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MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
sales@marketsandmarkets.com
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