Artificial Intelligence (AI) Market to 2025 (55.6% CAGR Expected) Top Player Profiles - Alphabet (Google Inc.), Apple Inc., Baidu, IBM Corporation, IPsoft

According to a new report published by Big Market Research, titled, Artificial Intelligence Market by Technology and Industry Verticals: Global Opportunity Analysis and Industry Forecast, 2018-2025, the artificial intelligence market accounted for $4,065.0 million in 2016, and is expected to reach $169,411.8 million by 2025, growing at a CAGR of 55.6% from 2018 to 2025. In 2016, North America dominated the global market, in terms of revenue, accounting for about 49.0% share of the global market, followed by Europe.

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The machine learning segment secured the highest share of about 52.0% in the artificial intelligence market in 2016 and is expected to grow at a CAGR of 56.4% during the forecast period. In terms of industry vertical, IT & telecom sector is expected to contribute the highest market share in the coming years, as various new startups are investing in artificial intelligence solutions. Moreover, the rapid urbanization, technological advancement, and increase in demand for cloud applications has fueled the demand for AI technologies in developing economies.

The technology of machine-learning has driven exceptional increase in productivity. For instance, Google and Baidu have increased investment to expand their business capabilities in the AI market. Moreover, developments such as self-driving cars, space exploration, accurate weather predictions, and other prominent developments are boosting the demand for artificial intelligence technologies. However, limited availability of skilled and expert AI employees can negatively impact the growth of the AI Market.

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 term 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 revenue share in the artificial intelligence market and is anticipated to secure the leading position during forecast period, owing to the presence of key companies and large investment in the AI Market.

KEY MARKET SEGMENTS
BY TECHNOLOGY
o Machine learning
o Natural language processing
o Image processing
o Speech recognition

BY INDUSTRY VERTICAL
o Media & advertising
o BFSI
o IT & Telecom
o Retail
o Healthcare
o Automotive & transportation
o Others (agriculture, law, educational institutions)

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Market Segment by Manufacturers, this report covers - Alphabet (Google Inc.), Apple Inc., Baidu, IBM Corporation, IPsoft, Microsoft Corporation, MicroStrategy, Inc, NVIDIA , Qlik Technologies Inc, Verint Systems Inc (Next IT Corp).

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This release was published on openPR.