Artificial Intelligence (AI) Market Growth to Continue in 2015 : Alphabet (Google Inc.), Apple Inc., Baidu, IBM, IPsoft, Microsoft Corporation, MicroStrategy, Inc, NVIDIA, Qlik Technologies Inc., Verint Systems Inc (Next IT Corp)

The global artificial intelligence market size is expected to reach $169,411.8 million in 2025, from $4,065.0 million in 2016 growing at a CAGR of 55.6% from 2018 to 2025. Artificial intelligence has been one of the fastest-growing technologies in recent years. AI is associated to human intelligence with similar characteristics such as language understanding, reasoning, learning, problem solving, and others. Manufacturers in the market witness enormous underlying intellectual challenges in the development and revision of such a technology. AI is positioned at the core of the next gen software technologies in the market. Companies such as Google, IBM, Microsoft, and other leading players have actively implemented AI as a crucial part of their technologies.

The rise in number of innovative start-ups and advancements in technology have led to increase in investment in artificial intelligence technologies. Moreover, growth in demand for analyzing and interpreting large amounts of data is boosting the demand for artificial intelligence industry solutions. Furthermore, development of more reliable cloud computing infrastructures and improvements in dynamic artificial intelligence solutions have a strong impact on the growth potential of the AI market. However, lack of trained and experienced staff can hinder the growth of the artificial intelligence market.

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The AI market is segmented by technology, industry vertical, and geography. The various technologies are sub-divided into machine learning, natural language processing, image processing, and speech recognition. In 2016, the machine learning segment dominated the market, in terms of revenue, and is expected to maintain this trend in the coming years, owing to increase in demand for artificial intelligence industry solutions. Based on industry verticals, the market is categorized into media & advertising, retail, telecom & IT, healthcare, automotive & transportation, and others (agriculture, law, educational institutions). The IT & telecom segment is anticipated to dominate the global artificial intelligence market throughout the forecast period. Geographically, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. In 2017, North America region contributed the highest share in the artificial intelligence market and is anticipated to secure the leading position during the forecast period, owing to the presence of key companies and large investment in the AI market.

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Competitive analysis and profiles of the major artificial intelligence market players, such as Alphabet (Google Inc.), Apple Inc., Baidu, IBM, IPsoft, Microsoft Corporation, MicroStrategy, Inc., NVIDIA, Qlik Technologies Inc., and Verint Systems Inc (Next IT Corp) are provided in this report. The key strategies adopted by the key players from 2015 to 2018 were product launches, acquisitions, and collaboration.

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Key Findings of the Artificial Intelligence Market :

•In 2016, the IT & Telecom segment dominated the global artificial intelligence market, in terms of revenue, and is projected to grow at a CAGR of 56.7% during the forecast period
•The machine learning segment is projected to grow at a CAGR of 56.4% during the forecast period
•North America is projected as one of the fastest growing region in the artificial intelligence market and is expected to witness high growth rate.

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