Pulished Date August, 2019
ID: 8308
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Artificial Intelligence Market by Offering (Hardware, Software, Services), by Technology (Machine Learning, Natural Language Processing, Context-Aware Computing, Computer Vision), by End-Use Industry (Healthcare, Automotive, Human Resources, and Others), by Region - Global Industry Analysis, Size, Share, Growth, Investment, and Forecasts (2019 – 2024)

Pulished: August, 2019
ID: 8308
Pages: 170

Artificial Intelligence Market Size and Growth (2019 – 2024)

The Artificial Intelligence market is a rapidly growing market that is majorly driven by the need for autonomous and semiautonomous devices in all the end-use industries. The developing technology helps in the progress of the AI application though due to the complex arrangement of algorithms the process may take time than expected. The global Artificial Intelligence Market size was around USD 21.5 Billion by revenue, at the end of 2018. It is expected to grow at a CAGR of 36.7 % to reach close to USD 102.63 Billion by the end of 2024.

Artificial Intelligence Market Recent Developments

Appen, a Sydney based artificial intelligence firm, has agreed on the payment of USD 426 million to US-based companies. Appen is about to launch a USD 300 million capital raising for the funding of its acquisition of figure Eight, which is expected to have gained the company USD 285 million.

Artificial Intelligence Market Drivers and Restraints

The need for autonomous devices in the manufacturing and production-related units of major industries is the primary driver to the development of artificial intelligence. This attracts the attention of many major tech- firms to invest in AI technology thereby increasing the market value for artificial intelligence. However, the limited presence of market players, due to the sophisticated technology used, is a major restraining factor to the market for artificial intelligence. Also, the existing players have no interest in actions that may boost their position. They are more into organic growth strategies such as product launches to expand their business and position.

Artificial Intelligence Market By Segmentation Analysis

By Offering - By offering the market for artificial intelligence is segmented into

  • Hardware
  • Software
  • Services

By Technology - Based on the technology used the  artificial intelligence market is categorized into

  • Machine Learning
  • Natural Language Processing
  • Context-Aware Computing
  • Computer Vision

Among the different technologies, computer vision is calculated to have the highest growth rate in the market in the forecast period. The increase in the adoption of computer vision in various applications which are both autonomous and semiautonomous is fueling this segment’s growth in the artificial intelligence market. This technology is majorly used in the manufacturing and automotive end-use industries.

By End-Use Industry - Based on the end-use industry the  market for artificial intelligence is segmented into

  • Healthcare
  • Automotive
  • Human Resources and Others

Other end-user industries include manufacturing, agriculture, security, marketing, fintech, and retail. Of the mentioned industries the manufacturing segment is expected to be the primary revenue generator to the AI market in the forecast as mentioned earlier period. The rapid increase in the data volume in the manufacturing segment has led to the introduction of AI-enabled devices in the system for autonomous analysis of the production process.

Artificial Intelligence Market Geographical Analysis

By geography, the Artificial Intelligence Market is segmented as

  • Latin America
  • Europe
  • Asia Pacific
  • North America
  • Middle-East & Africa

North America leads the Artificial Intelligence market by both value and volume, buy the end of 2019. The situation of all the market key players in this region an added advantage to its significant market position. The Asia Pacific is second in the lead in the artificial intelligence market. This region is anticipated to have the highest growth rate in the market for artificial intelligence. The interest shown from the top leading software companies in candidates from the Asia Pacific region, mainly from India, China, and Japan, is the reason for the projected growth of this region.

Europe follows the Asia Pacific region in the leaderboard for the Artificial Intelligence market in terms of the market share and size. The availability of a large customer base in this region is the primary cause of its end-user eye-catching performance in the Artificial Intelligence market. The growth in the Asia Pacific region is also attributed to the high future opportunities in fast-developing economies like India, China, and Japan. Although the Asia Pacific region will not be leading the market for Artificial Intelligence, it is expected to attract major market giants towards expansion into the region. The regional advantages offered in this region, such as ease of setup and a high number of brilliant-minded people, are the sole reason for this region’s advancement in the market.

On the other hand, the Middle East & Africa and Latin America regions, being in the low developing countries due to the contribution of low GDP countries, have fewer chances for industry growth. Hence, the artificial intelligence market in these regions is slow-growing in nature.

Artificial Intelligence Market Key Market Players

  1. Intel
  2. Apple Inc.
  3. NVIDIA
  4. IPsoft Inc.
  5. Xilinx
  6. Baidu Inc.
  7. Samsung
  8. MicroStrategy Inc.
  9. Facebook
  10. Qlik Technologies Inc.
  11. Micron Technology
  12. Verint Systems
  13. IBM
  14. Brighterion Inc.
  15. Google
  16. Microsoft Corporation
  17. Amazon Web Services Inc.

Artificial Intelligence Market Research Report Key Highlights:

  1. The evaluation of the current product and services market and the future implications of the market.
  2. Address the matter by better understanding the market through size estimates and CAGR analysis to forecast the future market.
  3. Wider segmentation to better understand the dynamics of the market at a minimal level by dividing the market into smaller segments.
  4. Address the key market challenges, drivers and restraints to provide insights for gaining market share.
  5. Porter’s Five Forces are used to analyze the factors responsible for the shaping of the industry as it is as a result of the competitive environment.

1. Introduction                                 

                1.1 Market Definition                    

                1.2 Scope of the report                

                1.3 Study Assumptions                 

                1.4 Base Currency, Base Year and Forecast Periods                          

2. Research Methodology                                           

                2.1 Analysis Design                         

                2.2 Research Phases                      

                                2.2.1 Secondary Research           

                                2.2.2 Primary Research 

                                2.2.3 Data Modelling      

                                2.2.4 Expert Validation  

                2.3 Study Timeline                          

3. Report Overview                                        

                3.1 Executive Summary                

                3.2 Key Inferencees                       

4. Market Dynamics                                       

                4.1 Impact Analysis                         

                                4.1.1 Drivers      

                                4.1.2 Restaints  

                                4.1.3 Opportunities        

                4.2 Regulatory Environment                       

                4.3 Technology Timeline & Recent Trends                            

5. Competitor Benchmarking Analysis                                    

                5.1 Market Share Analysis                           

                5.2 Product Benchmarking                          

                5.3 Regional Presence                   

                5.4 Mergers & Acquistion Landscape                      

                5.5 Joint Ventures & Collaborations                        

6. Market Segmentation                                              

                6.1 Artificial Intelligence Market, by Offering                      

                                6.1.1 Hardware

                                6.1.2 Software  

                                6.1.3 Services    

                                6.1.4 Market Size Estimations & Forecasts (2019-2024)   

                                6.1.5 Y-o-Y Growth Rate Analysis             

                                6.1.5 Market Attractiveness Index          

                6.2 Artificial Intelligence Market, by Technology                               

                                6.2.1 Machine Learning

                                6.2.2 Natural Language Processing          

                                6.2.3 Context-Aware Computing              

                                6.2.4 Computer Vision  

                                6.2.5 Market Size Estimations & Forecasts (2019-2024)   

                                6.2.6 Y-o-Y Growth Rate Analysis             

                                6.2.7 Market Attractiveness Index          

                6.3 Artificial Intelligence Market, by End-Use Industry                   

                                6.3.1 Healthcare              

                                6.3.2 Automotive            

                                6.3.3  Human Resources               

                                6.3.4 Others      

                                6.3.5 Market Size Estimations & Forecasts (2019-2024)   

                                6.3.6 Y-o-Y Growth Rate Analysis             

                                6.3.7 Market Attractiveness Index          

7. Geographical Landscape                                         

                7.1 Global Identity Governance and Administration Market, by Region                  

                7.2 North America - Market Analysis (2019 - 2024)                            

                                7.2.1 By Country              

                                                7.2.1.1 USA

                                                7.2.1.2 Canada

                                7.2.2 By Offering             

                                7.2.3 By Technology       

                                7.2.4 By End-Use Industry           

                                7.2.5 Y-o-Y Growth Rate Analysis             

                                7.2.6 Market Attractiveness Index          

                7.3 Europe                         

                                7.3.1 By Country              

                                                7.3.1.1 UK

                                                7.3.1.2 France

                                                7.3.1.3 Germany

                                                7.3.1.4 Spain

                                                7.3.1.5 Italy

                                                7.3.1.6 Rest of Europe

                                7.3.2 By Offering             

                                7.3.3 By Technology       

                                7.3.4 By End-Use Industry           

                                7.3.5 Y-o-Y Growth Rate Analysis             

                                7.3.6 Market Attractiveness Index          

                7.4 Asia Pacific                  

                                7.4.1 By Country              

                                                7.4.1.1 China

                                                7.4.1.2 India

                                                7.4.1.3 Japan

                                                7.4.1.4 South Korea

                                                7.4.1.5 South East Asia

                                                7.4.1.6 Australia & NZ

                                                7.4.1.7 Rest of Asia-Pacific

                                7.4.2 By Offering             

                                7.4.3 By Technology       

                                7.4.4 By End-Use Industry           

                                7.4.5 Y-o-Y Growth Rate Analysis             

                                7.4.6 Market Attractiveness Index          

                7.5 Latin America                             

                                7.5.1 By Country              

                                                7.5.1.1 Brazil

                                                7.5.1.2 Argentina

                                                7.5.1.3 Mexico

                                                7.5.1.4 Rest of Latin America

                                7.5.2 By Offering             

                                7.5.3 By Technology       

                                7.5.4 By End-Use Industry           

                                7.5.5 Y-o-Y Growth Rate Analysis             

                                7.5.6 Market Attractiveness Index          

                7.6 Middle East and Africa                           

                                7.6.1 By Country              

                                                7.6.1.1 Middle East

                                                7.6.1.2 Africa

                                7.6.2 By Offering             

                                7.6.3 By Technology       

                                7.6.4 By End-Use Industry           

                                7.6.5 Y-o-Y Growth Rate Analysis             

                                7.6.6 Market Attractiveness Index          

8. Key Player Analysis                                    

                8.1 Intel                               

                                8.1.1 Business Description           

                                8.1.2 Products/Service  

                                8.1.3 Financials 

                                8.1.4 SWOT Analysis       

                                8.1.5 Recent Developments       

                                8.1.6 Analyst Overview 

                8.2  Apple Inc.                   

                8.3 NVIDIA                         

                8.4 IPsoft Inc.                    

                8.5 Xilinx                             

                8.6 Baidu Inc.                    

                8.7 Samsung                      

                8.8  MicroStrategy Inc.                  

                8.9 Facebook                    

                8.10 Qlik Technologies Inc.                          

9. Market Outlook & Investment Opportunities                                

Appendix                                           

                List of Tables                     

                List of Figures                   

  • Global,Regional and country-level analysis and forecasts of the study market; providing Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped
  • Segment-level analysis in terms of by offering,by end user, along with market size forecasts and estimations to detect key areas of industry growth in detail
  • Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics
  • Study of the effect of exogenous and endogenous factors that affect the global market; which includes broadly demographic, economics, and political, among other macro-environmental factors presented in an extensive PESTLE Analysis
  • Study the micro environment factors that determine the overall profitability of an Industry, using Porter’s five forces analysis for analysing the level of competition and business strategy development
  • A comprehensive list of key market players along with their product portfolio, current strategic interests, key financial information, legal issues, SWOT analysis and analyst overview to study and sustain the market environment
  • Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies
  • An executive summary, abridging the entire report in such a way that decision-making personnel can rapidly become acquainted with background information, concise analysis and main conclusions
  • Expertly devised analyst overview along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market
  1. Global Artificial Intelligence Market By Region, From 2019-2024 ( USD Billion )
  2. Global Artificial Intelligence Market By Offering, From 2019-2024 ( USD Billion )
  3. Global Hardware Market By Region, From 2019-2024 ( USD Billion )
  4. Global Software Market By Region, From 2019-2024 ( USD Billion )
  5. Global Services Market By Region, From 2019-2024 ( USD Billion )
  6. Global Artificial Intelligence Market By Technology, From 2019-2024 ( USD Billion )
  7. Global Machine Learning Market By Region, From 2019-2024 ( USD Billion )
  8. Global Natural Language Processing Market By Region, From 2019-2024 ( USD Billion )
  9. Global Context-Aware Computing Market By Region, From 2019-2024 ( USD Billion )
  10. Global Computer Vision Market By Region, From 2019-2024 ( USD Billion )
  11. Global Artificial Intelligence Market By End-Use Industry, From 2019-2024 ( USD Billion )
  12. Global Healthcare Market By Region, From 2019-2024 ( USD Billion )
  13. Global Automotive Market By Region, From 2019-2024 ( USD Billion )
  14. Global Human Resources Market By Region, From 2019-2024 ( USD Billion )
  15. Global Others Market By Region, From 2019-2024 ( USD Billion )

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