Artificial intelligence and advanced machine learning market is expected to grow at a CAGR of 45.12% by 2027, owing to increasing overall global investment in artificial intelligence technology, says Absolute Markets Insights.
Recent years have seen significant advances in the capabilities of artificial intelligence and advanced machine learning, as a result of technological developments in the field, increased availability of data and advanced computing power. Due to these developments, systems which only a few years ago struggled to achieve accurate results can now outperform humans at specific tasks. Presently, the development of more affordable and powerful cloud computing infrastructure is having a strong impact on the growth potential of artificial intelligence. Additionally, diversifying application areas of the technology as well as increasing level of customer satisfaction by users of AI solutions and products is another factor which is currently driving the market. At present, the United States dominates the global artificial intelligence market though its leadership in machine learning. Machine learning technology is the foundation for artificial intelligence and is used across all primary application areas. Over the span of the next five years, the demand for artificial intelligence and advanced machine learning would increase at a CAGR of around 45.12%, thereby, positively impacting the demand for the technologies.
“During the next five years, more than half of the artificial intelligence and machine learning demand would be generated from the regions of North America and Europe. As far as the emerging markets are concerned, adoption of technologically advanced software with AI-enabled features are expected to further boost the market growth”.
The detailed research study provides qualitative and quantitative analysis of the global artificial intelligence and advanced machine learning market. The market has been analyzed from demand as well as supply side. The demand side analysis covers market revenue across regions and further, across all the major countries. The supply side analysis covers the major players and their regional and global presence and strategies. The geographical analysis done emphasizes on each of the major countries across North America, Europe, Asia Pacific, Middle East, Africa, and Latin America.
Global Artificial Intelligence and Advanced Machine Learning (US$ Million), 2018, By Region
Some of the major players operating in the global artificial intelligence and advanced machine learning market include NVIDIA Corporation, WinWire Technologies Inc., ValueCoders.com, Prisma Labs, Inc., LEXPLORE.COM, Google, IBM, Intel Corporation, Inbenta Technologies Inc., CloudMoyo, Clarifai, Inc, Microsoft, V2Soft, Kreyon, Inc. and Netguru, amongst others.
Artificial Intelligence and Advanced Machine Learning Market:
- By Functions
- Manufacturing
- Operations
- Sales and Marketing
- Customer Support
- Research and Development
- Others
- By Organization Size
- Small and Medium Enterprise
- Large Enterprise
- By Vertical
- Consumer Goods and Retail
- Healthcare
- Automotive
- IT and Telecom
- Banking, Financial Services and Insurance
- Government
- Others (Education, Media and Entertainment etc.)
- By Geography
- North America
- U.S.
- Canada
- Rest of North America
- Europe
- France
- The UK
- Spain
- Germany
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- New Zealand
- Southeast Asia
- Rest of Asia Pacific
- Middle East and Africa
- GCC Countries
- Southern Africa
- Rest of Middle East and Africa
- Latin America
- Brazil
- Rest of Latin America
- North America
