Artificial Intelligence Industry Set for Rapid Growth in Coming Years

Overview of Artificial Intelligence Market
According to a recently published report Artificial Intelligence Market to reach $19,478 million by 2022, growing at a CAGR of 45.4% from 2016 to 2022. This can be attributed to the improved productivity and customer satisfaction coupled with diverse application areas and integration of big data with AI. North America is expected to be the largest market during the forecast period.

By technology, machine learning holds the highest market share in 2015 and speech recognition is anticipated to be the fastest-growing sub-segment. Among the various industry verticals, BFSI is anticipated to dominate the market. However, other sectors such as agriculture, educational institutions, and law are expected to witness fastest growth rate during the forecast period.

Asia-Pacific is estimated to be the fastest growing region due to an increase in the adoption of machine learning and extensive growth in Japan, China, Australia, and India.



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The Major players reported in the market include:
  • Google Inc.
  • IBM Corp.
  • Microsoft Corporation
  • IPsoft
  • Rocket Fuel Inc.
  • Qlik Technologies Inc.
  • MicroStrategy, Inc.
  • Brighterion, Inc.
  • 24/7 Customer, Inc.
  • Next IT Corp.

KEY BENEFITS

  • The study provides an in-depth analysis of the Artificial Intelligence market along with current and future trends to elucidate the imminent investment pockets.
  • The report provides information regarding key drivers, restraints, and opportunities along with their impact analysis.
  • Porter's Five Forces and SWOT analyses of key market players in the industry have been provided to highlight the growth strategies adopted by them.
  • The value chain analysis of the industry signifies the key intermediaries involved, and elaborates their roles and value additions at every stage of the value chain.
  • The quantitative analysis of the market during the period of 2014-2022 is provided to elaborate the market potential.



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