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Artificial Intelligence Software Market Statistics 2021: Key drivers, restraints, opportunities and detailed impact analysis
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Top impacting factors: Market Scenario Analysis, Trends, Drivers, and Impact Analysis
Rise in adoption of cloud-based applications and services and focus on improvement of operational efficiency in enterprises are the major factors that drive artificial intelligence software market growth. In addition, increase in demand for intelligent virtual assistants and growth in adoption of big data analytics among SMEs are expected to supplement the artificial intelligence software market growth. However, lack of technical expertise and management of complex software hamper the market growth. Furthermore, adoption of various technologies such as internet of things (IoT), machine learning, and industry 4.0. is expected to provide lucrative opportunities for the global artificial intelligence software market.
The market trends for artificial intelligence software market are as follows:
Growth in adoption of big data in enterprises:
Big data has a key role in data mining and handling enormous amount of data generated. It is considered among the emerging trends in the artificial intelligence market. In addition, rise in amount of structured and unstructured data in organizations creates demand for big data applications. AI and big data help in analyzing information by learning from patterns and helping companies to take smart decisions. Hence, enterprises are implementing big data enabled AI solutions.
Notable developments in AI Software:
Companies are adopting strategies a mergers, acquisitions and launching new products to sustain in the artificial intelligence software market and gain a competitive edge. For instance, in 2019, Apple Inc. acquired laser-like, a small Silicon-Valley based machine learning startup to strengthen its artificial intelligence efforts, including virtual assistance called Siri.
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Key benefits of the report:
This study presents analytical depiction of the artificial intelligence software market along with the current trends and future estimations to determine the imminent investment pockets.
The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the artificial intelligence software market share.
The current market is quantitatively analyzed from 2020 to 2027 to highlight the artificial intelligence software market growth scenario.
Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
The report provides a detailed market analysis based on the present and future competitive intensity of the ai software market.
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