AI Technology Industry- Global Market demand Analysis, Industry Chain, Competitors, Revenue and Forecast 2020 – 2026
Technology has been a major growth driver for most business sectors. Heavy machinery sectors like Oil & Gas, Energy & Power, and Mining have realized the potential of intelligent technological assistance in their operations and tasks, and hence, the growth prospect for Artificial Intelligence (AI) technology ecosystem in nearly all business sectors looks extremely promising for the next 5 years. According to our estimates, by the end of 2023, the AI Technology ecosystem is expected to witness a 25% CAGR, while investments related to AI Technology ecosystem is expected to witness 12X growth rate as compared to 2018.
The growth of this AI Technology Market is primarily driven by increasing disposable incomes, growing technological innovation in Logistics, Healthcare, transportations, Automotive, Retail, BFSI Aerospace industry.
Artificial Intelligence is one of the most popular technologies in the category of “Must to have” technologies. By Q1 -2019, around 2000 AI-focused emerging players have cumulatively raised around $50 billion of funding for growth and expansion funding between 2011 and Q1-2019.
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Impact of COVID-19:
AI Technology Market report analyses the impact of Coronavirus (COVID-19) on the AI Technology industry.
Since the COVID-19 virus outbreak in December 2019, the disease has spread to almost 180+ countries around the globe with the World Health Organization declaring it a public health emergency. The global impacts of the coronavirus disease 2019 (COVID-19) are already starting to be felt, and will significantly affect the AI Technology market in 2020.
The outbreak of COVID-19 has brought effects on many aspects, like flight cancellations; travel bans and quarantines; restaurants closed; all indoor events restricted; emergency declared in many countries; massive slowing of the supply chain; stock market unpredictability; falling business assurance, growing panic among the population, and uncertainty about future.
COVID-19 can affect the global economy in 3 main ways: by directly affecting production and demand, by creating supply chain and market disturbance, and by its financial impact on firms and financial markets.
Get Sample PDF of COVID-19 ToC to understand the impact and be smart in redefining business strategies.
Global AI Technology Market Segmentation:
Following Top Key players are profiled in this Market Study:
IBM Corporation, Amazon.com Inc, Google Inc, Intel, Facebook, Other
End User: Logistics, Healthcare, transportations, Automotive, Retail, BFSI Aerospace, Consumer Electronics, Oil & Gas, Others
Global AI Technology Ecosystem
For AI to flourish, it has been observed that its ecosystem constituent – Technology Hardware - is also being enhanced through components like FPGA, ASIC, Chipsets, and Processors. Hardware players like Qualcomm, ARM, Intel, and Huawei have already started increasing their competitive rivalry in this category, by offering powerful AI processors and chipsets. In terms of growth in the End-users, the automotive industry is driving the market with a CAGR of 23.5%, while Telecom & Consumer Electronics is well placed in terms of value. Key countries like China and the US are expected to reap maximum benefits from AI technology ecosystem by the end of 2026. 18% of the GDP of these two counties is expected to shape up owing to the integration of AI technology in industries like Automotive, Healthcare, and BFSI.
Table of Content:
Ecosystem Report – Table of Content
1.Global AI Technology Market Ecosystem Definition
2.Scope of study
1.Global Market Segmentation
AI Technology Market Ecosystem Positioning
1.Global AI Technology Market Ecosystem Snapshot
2.Global AI Technology Market Ecosystem Segmentation
AI Technology Market Ecosystem Sizing, Volume, and ASP Analysis & Forecast
1.Global AI Technology Market Ecosystem Sizing & Volume
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