openPR Logo
Press release

Artificial Intelligence Market to Reach US$3,061.35 Bn by 2024

02-05-2019 05:59 PM CET | IT, New Media & Software

Press release from: Transparency Market Research

Artificial Intelligence Market to Reach US$3,061.35 Bn by 2024

Increasing adoption rate of big data and AI advanced has largely benefited the global artificial intelligence market. Various end-use industries have also employed artificial intelligence such as retail and business analysis that has also boosted the demand in this market. Moreover, growing progression need in the zones of machine interpretation, question acknowledgment, and protest observation has further augmented the demand for artificial intelligence.

Read Report Overview:
https://www.transparencymarketresearch.com/artificial-intelligence-market.html

However, slow adoption rate and lack of technical expertise might hamper the growth of this market. High expenditure cost while installing artificial intelligence systems and high development cost can also restrain market performance. Nevertheless, with advanced parallel handling capacities and increasing data stockpiling limit might aid in minimizing these restraints and fuel the market growth

Transparency Market Research provides complete insight in its recent report on the global artificial intelligence market. According to the report, the market is projected to rise at a staggering growth rate of 36.10% from 2016 to 2024. Growing at this rate can help the market to attain a valuation of US$3, 061.3 bn by the end of 2024 progressing from US126.24 bn earned in 2015.

Demand for Digital Assistance System to Grow Due To Rising Use of Mobile Computing Devices

The global artificial intelligence market is categorized on the basis of type and application. Based on type, the market is segmented into digital assistance system, artificial neural network, expert system, embedded systems, and automated robotic system. Of these, the expert system has a maximum share in the market. However, the digital assistance system segment is expected to rise significantly over the forecast tenure. This growth is attributed to the increasing demand for laptops, tablets, smartphones, and other mobile computing devices.

Perceive the Sample of the Report: https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=4674

Artificial intelligence is employed in numerous areas including smart robots, deep learning, image recognition, querying method, digital personal assistant, language processing, video analysis, gesture control, cyber-security, speech recognition, and context-aware processing. Out of these, artificial intelligence is widely applied in deep learning. The deep learning segment is expected to hold maximum share in this market in the coming years. The digital personal assistance and image recognition segments are also expected to implement artificial intelligence largely in near future.

Growing Popularity of Robotic Automation to Boost Demand for Artificial Intelligence in Middle East

On geographical point of view, the global artificial intelligence market covers Asia Pacific, Latin America, North America, Europe, the Middle East and Africa. Among these regions, North America dominates the market by holding 38.0% share. In the near future, the Middle East and Africa are projected to rise at an excellent growth rate of 38.2%. The growing popularity of robotic automation and aggressive use of advanced technologies will further drive the demand in this market. Moreover, this region will create lucrative growth opportunities for the artificial intelligence market and help in building advanced airport building and other construction projects.

Obtain the Brochure of the Report: https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=4674

About Us:
Transparency Market Research (TMR) is a U.S.-based provider of syndicated research, customized research, and consulting services. TMR’s global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.

Contact Us:
90 State Street,
Suite 700,
Albany
NY - 12207
United States
Tel: +1-518-618-1030
USA - Canada Toll Free 866-552-3453
Email: akash.p@tmr.com
Website: http://www.transparencymarketresearch.com

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Artificial Intelligence Market to Reach US$3,061.35 Bn by 2024 here

News-ID: 1562245 • Views: 181

More Releases from Transparency Market Research

Wind Turbine Operations and Maintenance Market Demand and Growth Analysis with F …
Overview TMR’s report on the Wind Turbine Operations and Maintenance Market is an all-important tool for stakeholders in their pursuit to discover avenues for innovation, and further undertake strategic planning for the launch of products and services. Our research report on the Wind Turbine Operations and Maintenance Market serves as a valuable guide for stakeholders. The report deep dives into demand drivers, challenges, and opportunities that are likely to influence the Wind
Petroleum Coke Market Shares, Strategies and Opportunities 2020
Overview TMR’s report on the Petroleum Coke Market is an all-important tool for stakeholders in their pursuit to discover avenues for innovation, and further undertake strategic planning for the launch of products and services. Our research report on the Petroleum Coke Market serves as a valuable guide for stakeholders. The report deep dives into demand drivers, challenges, and opportunities that are likely to influence the Petroleum Coke Market over the forecast period.
Bunker Fuel Market Segmentation and Forecast Analysis up to 2020
Overview TMR’s report on the Bunker Fuel Market is an all-important tool for stakeholders in their pursuit to discover avenues for innovation, and further undertake strategic planning for the launch of products and services. Our research report on the Bunker Fuel Market serves as a valuable guide for stakeholders. The report deep dives into demand drivers, challenges, and opportunities that are likely to influence the Bunker Fuel Market over the forecast period.
Concentrated Solar Power Market Detailed Analysis and Forecast up to 2020
Overview TMR’s report on the Concentrated Solar Power Market is an all-important tool for stakeholders in their pursuit to discover avenues for innovation, and further undertake strategic planning for the launch of products and services. Our research report on the Concentrated Solar Power Market serves as a valuable guide for stakeholders. The report deep dives into demand drivers, challenges, and opportunities that are likely to influence the Concentrated Solar Power Market over

All 5 Releases


More Releases for Artificial

Artificial Turf Market – Global Need Assumptions 2025 | Artificial Lawn, Grass …
Global Artificial Turf Market: Snapshot Growth opportunities abound in the global market for artificial turf as residential and commercial property owners increasingly focus on ways of keeping lawns green even during the rising incidences of draughts across the globe. Along with providing an easy way of conserving the water otherwise spent on keeping natural grass alive, artificial grass, or artificial turf as it is often referred to, helps eliminate the need
Artificial Blood Market Development
Artificial Blood Market Potential According to the World Health Organization (WHO), there are around 50,000 stem cell transplantations performed annually worldwide, which include 2,000 cord blood hematopoietic stem cell transplants performed each year. Use of stem cells from cord blood is increasing, as it does not require perfect human leukocyte antigen (HLA) tissue matching, can be used allogenically, and has less incidence of graft v/s host disease. According to the New
Artificial intelligence for industrial microbiology
Munich, Germany, November 23, 2017 - vermicon AG, the specialist for microbiological solutions, is launching the new Scan VIT® system for analysis of microorganisms. It is able to quantify and specifically identify single cells directly and without time-consuming enrichment steps. A fully automated analysis evaluation is provided by the intelligent VIT® Vision software, which is the centerpiece of the new, patented technology. In contrast to conventional rapid test methods, the
Artificial Blood Market
Artificial blood is an artificially developed substitute for red blood cells. For decades, scientists have been trying to develop artificial blood from various sources and through different methods to address the shortage of blood for transfusions. Inadequate number of blood donors and the criticality of blood-type rejection have encouraged researchers to develop artificial blood, thus reducing the dependency on blood donors. Transfusion of red blood cells (RBCs) is a standard
Artificial Blood Market
Artificial blood is an artificially developed substitute for red blood cells.  For decades, scientists have been trying to develop artificial blood from various sources and through different methods to address the shortage of blood for transfusions. Inadequate number of blood donors and the criticality of blood-type rejection have encouraged researchers to develop artificial blood, thus reducing the dependency on blood donors. Transfusion of red blood cells (RBCs) is a standard and
Global Artificial Intelligence Market
According to a new report, Global Artificial Intelligence Market (2016-2022), published by KBV Research, the global artificial intelligence market is estimated to reach USD 16,274.0 Million by 2022, at a CAGR of 44.5% from 2016 to 2022. The North America market dominated the Global Artificial Intelligence Market in 2015, and would continue to be a dominant market till 2022; thereby growing at a CAGR of 42.7% during the forecast period.