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Artificial Intelligence Market - Increasing Application of Technologies in Various Industries has Lucrative Growth Opportunities

05-25-2018 05:29 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Transparency Market Research

/ PR Agency: Transparency Market Research
The intense rivalry between Microsoft Corp., QlikTech International AB, Next IT Corp., IBM, Google Inc., and Nuance Communications characterizes the competitive landscape of the global market for artificial intelligence, states a new report by Transparency Market Research (TMR). These players are expected to invest heavily in research and development over the next few years in order to gain an edge over their competitors, reports the market study.

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“The global market for artificial intelligence is witnessing a phenomenal growth as organizations across the world have started capitalizing on the benefits of such disruptive technologies for efficient positioning of their offerings and their customer-reach,” says a TMR analyst. In addition to this, the rise in the IT spending by enterprises, globally, for advancements in their products and services, is also boosting the growth of this market substantially.

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In 2015, North America led the global artificial intelligence market, holding a share of 38%. The presence of a large pool of technology companies has resulted in a higher pace of uptake of artificial intelligence in this region. Apart from this, the increase in the government funding is also supporting the growth of the market for artificial intelligence in the region

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