Artificial Intelligence Market worth $190.61 billion by 2025 with a Growing CAGR of 36.6%

 According to the new 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 be valued at USD 21.5 billion in 2018 and is likely to reach USD 190.6 billion by 2025, at a CAGR of 36.6% during the forecast period. Major drivers for the market are growing big data, the increasing adoption of cloud-based applications and services, and an increase in demand for intelligent virtual assistants. The major restraint for the market is the limited number of AI technology experts. Critical challenges facing the AI market include concerns regarding data privacy and the unreliability of AI algorithms. Underlying opportunities in the artificial intelligence market include improving operational efficiency in the manufacturing industry and the adoption of AI to improve customer service.

• Informational PDF Brochure :-
https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=74851580

The major players in this market include Intel (US), NVIDIA (US), Xilinx (US), Samsung  (South Korea), Facebook (US), Micron(US), IBM (US), Google (US), Microsoft (US), and AWS (US).

Browse 123 tables and 52 figures spread through 222 pages and in-depth TOC on "Artificial Intelligence Market - Global Forecast to 2025"

Deep learning is expected to grow at the highest CAGR during the forecast period

The increasing use of deep learning in applications such as image recognition, speech recognition, and data mining is the prime factor resulting in its growth. In addition, the rising adoption of deep learning algorithms to derive vital information generated from wearables and electronic health record (EHR) systems and its use in drug discovery application are the key factors driving the market growth.

Software market for artificial intelligence expected to hold the largest market share

The software market is expected to hold the largest share for artificial intelligence market. The software market is growing due to increasing conversation AI platforms. Also, The general purpose AI platforms and software being used to develop interface and application ranging from conversational interfaces to predictive and prescriptive applications that offer advice and recommendations. The AI software platform is majorly focused on tools and API framework for application and technologies based on AI and ML using both structured and unstructured data to drive these application.

Manufacturing end-user industry is expected to grow at the highest CAGR during the forecast period

The manufacturing industry is witnessing a new wave of technological revolution, which is boosting the idea for implementation of artificial intelligence (AI) in the plant. AI-based solutions are adopted in manufacturing facilities to improve the productivity by maximizing asset utilization, minimizing downtime, and improving machine efficiency. Moreover, AI in manufacturing is expected to enhance productivity through quality control by detecting defects and help in the predictive maintenance of factory machinery. This factor is expected to drive the growth of the AI market in manufacturing. Deep learning, natural language processing, context awareness, and computer vision are the major technologies used for data mining, image analysis, signal analysis, decision-making, and execution.

North America expected to hold the largest market share, APAC to witness the highest growth rate

North America is expected to hold the largest share and dominate the artificial intelligence market between 2018 and 2025. Rapid developments in infrastructure and the high adoption of digital technologies are the 2 major drivers of the AI market in the region. Additionally, the region, a well-established economy, has also seen large-scale investments in AI, as a result of which, both start-ups and well-established companies are concentrating more on developing innovative AI-enabled solutions to cater to the various industry verticals. Moreover, the smart city initiatives are increasing in the North American region, due to which, there is an increase in the raw data as well. The need to analyze such raw data to extract relevant information has increased the demand for various AI platforms, such as Google cloud prediction API, Microsoft Azure ML, and Amazon’s AWS in this region.

The artificial intelligence market in Asia Pacific (APAC) is expected to grow at the highest CAGR during the forecast period. In security, with increasing incidents of cyberattacks and a growing cyber-war in the region, organizations and governments are focusing on robust defense infrastructure. APAC, especially China, Japan, and South Korea, is considered the largest market for industrial robots. Industrial robots generate a huge volume of data, which is used for training robots. This would act as one of the major drivers for the AI market in APAC.

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

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Artificial Intelligence Market worth $190.61 billion by 2025 with a Growing CAGR of 36.6%

According to the new 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 be valued at USD 21.5 billion in 2018 and is likely to reach USD 190.6 billion by 2025, at a CAGR of 36.6% during the forecast period. Major drivers for the market are growing big data, the increasing adoption of cloud-based applications and services, and an increase in demand for intelligent virtual assistants. The major restraint for the market is the limited number of AI technology experts. Critical challenges facing the AI market include concerns regarding data privacy and the unreliability of AI algorithms. Underlying opportunities in the artificial intelligence market include improving operational efficiency in the manufacturing industry and the adoption of AI to improve customer service.

• Informational PDF Brochure :-
https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=74851580

Browse 123 tables and 52 figures spread through 222 pages and in-depth TOC on "Artificial Intelligence Market"

The Major Players in this market include Intel (US), NVIDIA (US), Xilinx (US), Samsung (South Korea), Facebook (US), Micron(US), IBM (US), Google (US), Microsoft (US), and AWS (US).

Deep learning is expected to grow at the highest CAGR during the forecast period

The increasing use of deep learning in applications such as image recognition, speech recognition, and data mining is the prime factor resulting in its growth. In addition, the rising adoption of deep learning algorithms to derive vital information generated from wearables and electronic health record (EHR) systems and its use in drug discovery application are the key factors driving the market growth.

Software market for artificial intelligence expected to hold the largest market share

The software market is expected to hold the largest share for artificial intelligence market. The software market is growing due to increasing conversation AI platforms. Also, The general purpose AI platforms and software being used to develop interface and application ranging from conversational interfaces to predictive and prescriptive applications that offer advice and recommendations. The AI software platform is majorly focused on tools and API framework for application and technologies based on AI and ML using both structured and unstructured data to drive these application.

Manufacturing end-user industry is expected to grow at the highest CAGR during the forecast period

The manufacturing industry is witnessing a new wave of technological revolution, which is boosting the idea for implementation of artificial intelligence (AI) in the plant. AI-based solutions are adopted in manufacturing facilities to improve the productivity by maximizing asset utilization, minimizing downtime, and improving machine efficiency. Moreover, AI in manufacturing is expected to enhance productivity through quality control by detecting defects and help in the predictive maintenance of factory machinery. This factor is expected to drive the growth of the AI market in manufacturing. Deep learning, natural language processing, context awareness, and computer vision are the major technologies used for data mining, image analysis, signal analysis, decision-making, and execution.

North America expected to hold the largest market share, APAC to witness the highest growth rate

North America is expected to hold the largest share and dominate the artificial intelligence market between 2018 and 2025. Rapid developments in infrastructure and the high adoption of digital technologies are the 2 major drivers of the AI market in the region. Additionally, the region, a well-established economy, has also seen large-scale investments in AI, as a result of which, both start-ups and well-established companies are concentrating more on developing innovative AI-enabled solutions to cater to the various industry verticals. Moreover, the smart city initiatives are increasing in the North American region, due to which, there is an increase in the raw data as well. The need to analyze such raw data to extract relevant information has increased the demand for various AI platforms, such as Google cloud prediction API, Microsoft Azure ML, and Amazon’s AWS in this region.

The artificial intelligence market in Asia Pacific (APAC) is expected to grow at the highest CAGR during the forecast period. In security, with increasing incidents of cyberattacks and a growing cyber-war in the region, organizations and governments are focusing on robust defense infrastructure. APAC, especially China, Japan, and South Korea, is considered the largest market for industrial robots. Industrial robots generate a huge volume of data, which is used for training robots. This would act as one of the major drivers for the AI market in APAC.

About MarketsandMarkets™            
                               
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Contact:
Mr. Ashish Mehra
MarketsandMarkets™ INC.
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Suite 430
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USA : 1-888-600-6441

Artificial Intelligence Market worth $190.61 billion by 2025 with a Growing CAGR of 36.6%

According to the new 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 be valued at USD 21.5 billion in 2018 and is likely to reach USD 190.6 billion by 2025, at a CAGR of 36.6% during the forecast period. Major drivers for the market are growing big data, the increasing adoption of cloud-based applications and services, and an increase in demand for intelligent virtual assistants. The major restraint for the market is the limited number of AI technology experts. Critical challenges facing the AI market include concerns regarding data privacy and the unreliability of AI algorithms. Underlying opportunities in the artificial intelligence market include improving operational efficiency in the manufacturing industry and the adoption of AI to improve customer service.

• Informational PDF Brochure :-https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=74851580

Browse 123 tables and 52 figures spread through 222 pages and in-depth TOC on "Artificial Intelligence Market"

 

The Major Players in this market include Intel (US), NVIDIA (US), Xilinx (US), Samsung  (South Korea), Facebook (US), Micron(US), IBM (US), Google (US), Microsoft (US), and AWS (US).

Deep learning is expected to grow at the highest CAGR during the forecast period

The increasing use of deep learning in applications such as image recognition, speech recognition, and data mining is the prime factor resulting in its growth. In addition, the rising adoption of deep learning algorithms to derive vital information generated from wearables and electronic health record (EHR) systems and its use in drug discovery application are the key factors driving the market growth.

Software market for artificial intelligence expected to hold the largest market share

The software market is expected to hold the largest share for artificial intelligence market. The software market is growing due to increasing conversation AI platforms. Also, The general purpose AI platforms and software being used to develop interface and application ranging from conversational interfaces to predictive and prescriptive applications that offer advice and recommendations. The AI software platform is majorly focused on tools and API framework for application and technologies based on AI and ML using both structured and unstructured data to drive these application.

Manufacturing end-user industry is expected to grow at the highest CAGR during the forecast period

The manufacturing industry is witnessing a new wave of technological revolution, which is boosting the idea for implementation of artificial intelligence (AI) in the plant. AI-based solutions are adopted in manufacturing facilities to improve the productivity by maximizing asset utilization, minimizing downtime, and improving machine efficiency. Moreover, AI in manufacturing is expected to enhance productivity through quality control by detecting defects and help in the predictive maintenance of factory machinery. This factor is expected to drive the growth of the AI market in manufacturing. Deep learning, natural language processing, context awareness, and computer vision are the major technologies used for data mining, image analysis, signal analysis, decision-making, and execution.

North America expected to hold the largest market share, APAC to witness the highest growth rate

North America is expected to hold the largest share and dominate the artificial intelligence market between 2018 and 2025. Rapid developments in infrastructure and the high adoption of digital technologies are the 2 major drivers of the AI market in the region. Additionally, the region, a well-established economy, has also seen large-scale investments in AI, as a result of which, both start-ups and well-established companies are concentrating more on developing innovative AI-enabled solutions to cater to the various industry verticals. Moreover, the smart city initiatives are increasing in the North American region, due to which, there is an increase in the raw data as well. The need to analyze such raw data to extract relevant information has increased the demand for various AI platforms, such as Google cloud prediction API, Microsoft Azure ML, and Amazon’s AWS in this region.

The artificial intelligence market in Asia Pacific (APAC) is expected to grow at the highest CAGR during the forecast period. In security, with increasing incidents of cyberattacks and a growing cyber-war in the region, organizations and governments are focusing on robust defense infrastructure. APAC, especially China, Japan, and South Korea, is considered the largest market for industrial robots. Industrial robots generate a huge volume of data, which is used for training robots. This would act as one of the major drivers for the AI market in APAC.

About MarketsandMarkets™     
                                       
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Contact:
Mr. Ashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441

Artificial Intelligence Market worth $190.61 billion by 2025 with a Growing CAGR of 36.6%

According to the new 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 be valued at USD 21.5 billion in 2018 and is likely to reach USD 190.6 billion by 2025, at a CAGR of 36.6% during the forecast period. Major drivers for the market are growing big data, the increasing adoption of cloud-based applications and services, and an increase in demand for intelligent virtual assistants. The major restraint for the market is the limited number of AI technology experts. Critical challenges facing the AI market include concerns regarding data privacy and the unreliability of AI algorithms. Underlying opportunities in the artificial intelligence market include improving operational efficiency in the manufacturing industry and the adoption of AI to improve customer service.

• Download Informational PDF Brochure :-
https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=74851580

Browse 123 tables and 52 figures spread through 222 pages and in-depth TOC on "Artificial Intelligence Market - Global Forecast to 2025"

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. 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 artificial intelligence 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.

On the basis of geography, the artificial intelligence market has been segmented into North America, Europe, APAC, and RoW. The 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 market ecosystem results in the increasing adoption of these systems in APAC.

The major players in this market include Intel (US), NVIDIA (US), Xilinx (US), Samsung  (South Korea), Facebook (US), Micron(US), IBM (US), Google (US), Microsoft (US), and AWS (US).

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Contact:
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MarketsandMarkets™ INC.
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newsletter@marketsandmarkets.com

Artificial Intelligence Market worth 190.61 Billion USD by 2025

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.

• Download Informational PDF Brochure :-
https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=74851580

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.

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 5000 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, “RT” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Shelly Singh
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
sales@marketsandmarkets.com

Artificial Intelligence Market worth 190.61 Billion USD by 2025

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.

• Download Infomational PDF Brochure :-
https://www.marketsandmarkets.com/pdfdownload.asp?id=74851580

Browse 67 tables and 48 figures spread through 205 pages and in-depth TOC on "Artificial Intelligence Market - Global Forecast to 2025"
https://www.marketsandmarkets.com/Market-Reports/artificial-intelligence-market-74851580.html

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.

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 5000 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "RT" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

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MarketsandMarkets™ INC.
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Convergence of big data and artificial intelligence to revolutionize medicine industry

Artificial intelligence (AI) is an important solution that can help analyze unstructured data and produce meaningful outcomes. AI platforms can analyze unstructured data and allow physicians to scrutinize large volumes of data sets generated from electronic medical records, public databases, journal articles, provider notes, prescriptions, diagnostic images, and other sources, in a fraction and derive an optimal course of action.  “The market for artificial intelligence (AI) in medicine was valued at USD 667.1 million in 2016 and is expected to reach USD 7,988.8 million by 2022, at a CAGR of 52.68% between 2017 and 2022”, says Sachin Garg who tracks global market for Artificial Intelligence at research firm MarketsandMarkets.

Browse 73 market data tables and 64 figures spread through 173 pages and in-depth TOC on “Artificial Intelligence Market – Global Forecast to 2022”
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Rise of Deep learning in medicine

Image recognition, signal recognition, data mining are the major processes under deep learning. Deep learning uses artificial neural networks to learn multiple levels of data, such as text, images, and sound.  Algorithms help identify patterns from a set of unstructured data. Imaging and diagnostics, and drug discovery are some of the applications that use deep learning. There is need for advanced technology to read and interpret images (X-rays, MRIs, and CT scans) and blood and tissue reports and provide accurate and quick diagnosis for critical ailments (tumor and cancer). It will also accelerate life-saving drug discovery and precision medicines. This will drive the market for deep learning in AI in the medicine market.

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Artificial intelligence to play a major role in drug discovery

Artificial Intelligence and machine learning, in particular, makes the drug discovery process more efficient and substantially improves success at the early stages of drug development. Artificial intelligence algorithms ingest and analyze a vast amount of information and can identify potential drug candidates in lesser time. The deep learning systems can also be used for generating molecules with properties that are likely to be effective against specific diseases and without adverse side effects. Such advantages have encouraged the adoption of AI for drug discovery by various pharmaceutical and biotechnology companies.

Patient data and risk analysis expected to be the largest application in AI in medicine market

Prediction modeling based on artificial intelligence techniques creates a prediction profile or algorithm which is trained by using patient information. The model then can be deployed for the risk analysis of different patients. Predictive analytics, especially in genomics, allows physicians to identify at-risk patients and with that knowledge can advise them to take the necessary preventive measures to avoid risks.

Medical imaging & diagnostics to be the fastest growing application in AI in medicine market

Artificial intelligence systems have the ability to understand and interpret large volumes of structures and unstructured imaging data and make an informed decision based on relevant and current information. Medical imaging is one of the most common applications of artificial intelligence. A large number of AI startups raising venture capital post-January 2015 have been working in the field of imaging and diagnostics.

About MarketsandMarkets

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MarketsandMarkets are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors.
M&M’s flagship competitive intelligence and market research platform, “RT” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets. The new included chapters on Methodology and Benchmarking presented with high quality analytical infographics in our reports gives complete visibility of how the numbers have been arrived and defend the accuracy of the numbers.

We at MarketsandMarkets are inspired to help our clients grow by providing apt business insight with our huge market intelligence repository.

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Artificial Intelligence Market: Strongly Influencing the Present and Future of Businesses and Humankind

Artificial intelligence (AI) can be understood as a science, engineering and deployment of machines, which perform tasks with intelligence as similar to humans. Since its inception 60 years ago, AI has observed significant growth in recent years. Initially, AI was considered as topic for academicians, though in recent years with development of various technologies, AI has turned into reality and is influencing many lives and businesses. 

Additionally, evolution of various other supplementary technologies such as cloud computing, machine learning and cognitive computing are collectively paving the growth of the market for AI. “In 2015, the AI chipset market was valued for USD 589.8 million and is expected to reach USD 16,059.3 million in 2022, at a CAGR of 62.9% from 2016 to 2022”, says Sachin Garg who tracks global market for semiconductor at research firm MarketsandMarkets. Many IT giants and start-ups are investing heavily in development of AI software solutions and hardware products. Some the prominent players in AI market in the recent times are Intel Corporation (U.S.), Google Inc. (U.S.), Microsoft Corporation (U.S.), Amazon.com, Inc. (U.S.), Baidu, Inc. (China), and NVIDIA Corporation (U.S.). 

 

Computer vision technology has become a part of high definition video games, while deep learning; which is a subset of machine learning is now implemented in speech recognition, drug discovery, health monitoring and various others applications. Robotics has evolved as one of the most promising AI technology in recent times. With wide range of applications, AI enabled robots are nowadays applied in welding, cutting, color coating and polishing purposes in automotive industry; carrying out several clinical tests and performing surgeries in healthcare industry. Furthermore, robotics and AI are likely to benefit the industries which are lacking the skilled and young workforce such as agriculture, factories, food processing and fulfillment centers.

Moreover, AI is likely to gain traction with amalgamation of various technologies such as deep learning, robotics, digital personal assistance, querying, natural language processing, and context-aware processing to develop an AI-featured product. In near future, AI is expected to make a crucial impact in multiple end-use applications such as driverless cars, healthcare diagnostics, and physical assistance in elder care.

AI is likely to disrupt every business segment across the world. The end-use industries of AI featured in this AI market study includes, agriculture, BFSI, manufacturing, healthcare, oil & gas, media & advertising, transportation and automotive, retail, among others. Among these verticals, transportation and automotive sector was the largest contributor to the AI market in 2015. This was resultant of significant investment made by federal governments and venture capitalists in development of connected and autonomous vehicles. 

These funding consequently resulted in some of the tangible recent development in autonomous projects. For instance, in October 2016, Otto (U.S.) (now acquired by Uber Technologies, Inc. (U.S.)) shipped its first consignment from Denver, Colorado, U.S. to Denver Springs, U.S. using driverless truck. 

The autonomous driving was carried for 120 mile journey. However, healthcare industry is estimated to exhibit highest growth in near term. The growing penetration of AI in health care assistance and medical management are the two key factors driving the market for the healthcare industry. Moreover, AI technologies are also used in the healthcare industry for decision-making processes, extracting information from the data collected from patients, and processing it further for testing and simulation of new treatments, scenarios, and devices.

The increasing large and complex datasets even called as big data, and the adoption of AI-enabled products and services to improve consumer-centric services are the two major growth drivers of the AI market. However, the scarcity of low cost and energy efficient hardware, and the lack of skilled workforce for development of AI algorithms and tools is curbing the growth of the AI market.

In essence, AI offers significant growth opportunities to all the stakeholders involved in its ecosystem. Development of human-aware AI systems and widening scope of AI technologies in niche markets are prominent market opportunities existing today. In addition to this, deploying AI at the edge of the network is likely to become a massive industry trend in coming years.

From new product launches to mergers & acquisitions, AI industry has witnessed some tremendous and crucial developments in recent years. Many companies are relying on their in-house developments, while some are growing with inorganic growth practices. Google, one of the frontrunners in AI had launched industry’s first AI-enabled smartphone “Pixel” in October 2016, which signifies that AI is now turning into a reality. On the other hand, IBM acquired Truven Health Analytics (U.S.) in April 2016, with this IBM intent to derive insights from Truven’s health data using Watson Health’s cognitive capabilities. 

On similar lines, in January 2016, IBM acquired The Weather Company, based in Atlanta, Georgia (U.S.) to introduce a new platform for IBM Watson Internet of Things. Alongside this, leading graphics processing unit (GPU) providers, NVIDIA Corporation launched the industry’s first deep learning system, “NVIDIA DGX- 1”, in April 2016. This tool is a completely integrated system with deep learning hardware and software, and development tool kit.

Thus, AI technologies are the future for many industries which are striving for efficient, low-cost operations and high profitability in their markets.


Contact :-

Mr. Sachin
MarketsandMarkets
Email ID: sachin.garg@marketsandmarkets.com

For more information Visit: Artificial Intelligence Market by Technology - 2022