Artificial Intelligence (AI) is the future in information and technology sectors - Analysis, size, business growth, trends and projections by 2025

The global AI market is divided on the basis of technology, industry vertical, and geography. Based on technology, the market is segmented into machine learning, natural language processing, image processing, and speech recognition. The machine learning segment held the largest share in 2016, contributing more than half of the market and expected to maintain its dominance throughout the study period. Moreover, the segment is projected to register the fastest CAGR of 56.4% during the forecast period.

Rise in investment in AI technologies, increased demand for analyzing and interpreting large amounts of data, and a surge in customer satisfaction coupled with an increase in the adoption of reliable cloud applications have boosted the growth of the global artificial intelligence (AI) market. However, dearth of trained and experienced staff hampers market growth. On the contrary, rise in the adoption of AI in emerging markets and the rapid development of smarter robots are expected to create lucrative opportunities in the near future.

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The global artificial intelligence (AI) market was pegged at $4.06 billion in 2016 and is projected to reach $169.41 billion by 2025, registering a CAGR of 55.6% from 2016 to 2025.

The market report provides an in-depth analysis of the major market players such as Apple Inc., Alphabet (Google Inc.), IBM Corporation, Baidu, Microsoft Corporation, IPsoft, NVIDIA, MicroStrategy, Inc., Verint Systems Inc (Next IT Corp), and Qlik Technologies Inc.

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Based on industry vertical, the market is divided into media & advertising, BFSI, it & telecom, retail, healthcare, automotive & transportation, and others. The IT & telecom segment dominated the market in 2016, contributing more than one-fifth of the market. Moreover, the segment is projected to register the fastest CAGR of 56.8% during the forecast period.

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The global AI market is analyzed across various regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across North America held the largest share in 2018, contributing nearly half of the market. However, the market across Asia-Pacific is projected to manifest the fastest CAGR of 59.4% during the forecast period.

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