Artificial Intelligence Market Growth, Trends, Opportunities and Forecast to 2030

Artificial Intelligence Market: Introduction

Transparency Market Research delivers key insights on the global artificial intelligence market. In terms of revenue, the global artificial intelligence market is estimated to expand at a CAGR of ~29% during the forecast period, owing to numerous factors regarding which TMR offers thorough insights and forecasts in its report on the global artificial intelligence market.

Artificial intelligence is a fast emerging technology, dealing with development and study of intelligent machines and software. These software are being used across various applications such as manufacturing (assembly line robots), medical research, and speech recognition systems.

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Replacement of workers with advanced manufacturing robots can be seen as one of the significant trends in the global artificial intelligence market. Artificial intelligence is being applied to robots to provide better intellectual, reasoning, and thinking abilities to enable real-time response. Moreover, these robots can be trained as required and have the capability to carry out any conversation and recalling historical details. As a result, the market is anticipated to witness a healthy growth rate during the forecast period.

Artificial Intelligence Market: Dynamics

Availability of enormous amount of data and advancement in next-generation computing architecture: Data scientists need enough data for precise accuracy and efficiency to train machine learning models. The growing adoption of cloud for storage of data enables easy access of data for data scientists and research facilities for research. Hence, easy availability of data to research facilities to train machine learning/artificial intelligence models to solve complex problems is expected to boost the artificial intelligence market.

Additionally, growing innovation in processors such as Graphics Processing Unit (GPU) and Field Programmable Gate Array (FPGA) for computing work such as training machine learning models is likely to increase the demand for advanced artificial intelligence platforms in the upcoming years. Traditional CPUs are unable to manage development of machine learning models. However, GPUs come with a huge number of cores that accelerates the machine learning training process. GPUs are the key to artificial intelligence from consumer devices to virtual machines in the public cloud.

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Artificial Intelligence Market: Key Players

Key players operating in the global artificial intelligence market are Amazon Web Services (AWS), Brighterion, Inc., eGain Corporation, Google, Inc., IBM Corporation, Intel Corporation, IntelliResponse Systems Inc., Micron Technology, Microsoft Corporation, MicroStrategy, Inc., Next IT Corporation, Nuance Communications, Nvidia Corporation, Oracle Corporation, QlikTech International AB, Samsung Electronics SAP SE, and Xilinx, Inc.

Global Artificial Intelligence Market: Segmentation

Artificial Intelligence Market, by Component

Hardware
- AI Chipsets
- Memory Units
- Storage Devices
- Sensors
Software
- AI Platforms
- ML Tools
- NLP Tools
- Others
Services
- Professional
- System Integration & Deployment
- AI Technology Consulting
- Support & Maintenance
- Managed

Artificial Intelligence Market, by Application

- Virtual Assistants/Chatbots
- Forecasts & Modelling
- Text Analytics
- Speech Analytics
- Computer Vision
- Predictive Maintenance
- Others

Artificial Intelligence Market, by End User

- BFSI
- IT & Telecom
- Manufacturing
- Retail & eCommerce
- Healthcare
- Government
- Energy & Utilities
- Media & Entertainment
- Others (Automotive, Agriculture, Travel & Transport, etc.)

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Transparency Market Research is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants, use proprietary data sources and various tools and techniques to gather, and analyze information.

Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.

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