Artificial Intelligence Market Overview:
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The market research report from TMR Research discusses market dynamics, geographical outlook, and competitive scenario of the Artificial Intelligence market at length for the forecast period. Further, it throws light on opportunities that are likely to come to the fore in the Artificial Intelligence market over the assessment period. The analysis of the Artificial Intelligence market thus provided is useful for market stakeholders to gauge scope of expansion and make investment plan for the forecast period.
Further, the report delves into key segments that divides the Artificial Intelligence market based on several criteria. Market share estimations of key segments of the Artificial Intelligence market over the forecast period is also included in this report.
The research report deep dives into the competitive landscape of the Artificial Intelligence market. The degree of competition in the market and growth strategies employed by prominent players in the Artificial Intelligence market are discussed at length in this report.
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Drivers and Restraints
A large number of companies today are concentrating on many different groundbreaking technologies so as to be able to reach out to the customers easily. This happens to be one of the main reasons boosting the global market for artificial intelligence. Such technologies consist of effective marketing practices like social, mobile, analytics and cloud technologies (SMAC) that help the companies to have strong control in the digital business. The need for this market is also arising due to the extended usage of artificial intelligence in various sectors such as E-Commerce, BFSI, retail, health informatics, to name a few. The rise in IT expenditure by companies throughout the globe in the hope of developing enhanced and efficient products will also drive the global artificial intelligence market.
The global market for artificial intelligence is currently facing challenges due to lack of investments. Many of the companies that offer artificial intelligence services have issues in accumulating funds in the initial levels for development and research. This dearth of investment is adversely impacting the task of creating new prototypes along with other technologies. Also, there is a lack of trained professionals in the market to solve advanced technical problems. This lack of professionals also happens to be an important reason in the growth of the global market for artificial intelligence as a whole.
Global Artificial Intelligence Market: Regional Outlook
In the year 2015, North America contributed the most in terms of revenues and it accounted for around 38% of the entire market. The presence of a large number of technology companies is behind the growth of the market for artificial intelligence in North America. Plus, the large investments by the government have proven to be of great help in the technological growth of artificial intelligence in the region. The increased scope of usage of this technology in so many sectors, including retail, BFSI, consumer electronics, media and advertising, and automotive, equally help this market in the North America. Because of these reasons, this region is slated to keep its leadership with it throughout 2024. The Middle East and Africa is expected to register a noticeable CAGR of 38.2% throughout the assessment period, that is the highest in any area. Technological advancements, like the robotic automation, and the rise in the adoption of smart cities, gives impetus to the acceptance of artificial intelligence in the region. The current infrastructure plans like the creation of new airports is making the market in the Middle East and Africa to be full of opportunities.
Global Artificial Intelligence Market: Competitive Landscape
Many of the players are finding it difficult to gather funds for their research which is in early stage. Market players need funds for developing prototypes of their underlying technology and the lack of it is restricting their research. Some of the prominent players within the market include: Nuance Communications, Next IT Corporation, MicroStrategy Inc., eGain Corporation, QlikTech International AB, Microsoft Corporation, Google Inc., Brighterion Inc., IBM Corporation, and IntelliResponse Systems Inc.
The study presents reliable qualitative and quantitative insights into Artificial Intelligence Market are:
- Market segments and sub-segments
- Market trends and dynamics
- Supply and demand chain of the market
- Market valuation (revenue and/or volume)
- Key trends/opportunities/challenges
- Forces defining present and estimated future state of the competitive landscape
- Technological developments
- Value chain and stakeholder analysis
The Artificial Intelligence Market regional analysis covers:
- North America
- Latin America
- Asia Pacific
- Middle East and Africa
The section also profiles key players for business overview, financial standing, and SWOTs. This provides insights of innovations and scope of collaborations and partnerships between key players in the years ahead. This analysis further helps to gauge competitive standing of key players and throws light on their changing competitive ranking in the Artificial Intelligence market over the forecast period.
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Key Questions Answered in the Artificial Intelligence Report
- What is the estimated compound annual growth rate of the Artificial Intelligence market over the forecast period?
- What are value and volume projections in the Artificial Intelligence market over the assessment period?
- Which product segment is likely to account for leading revenue share in the Artificial Intelligence market over the forecast period?
- Which region is anticipated to contribute maximum revenue to the Artificial Intelligence market over the assessment period?
- What are key growth strategies adopted by prominent players for competitive advantage in the Artificial Intelligence market?
- What are some major developments observed in the Artificial Intelligence market over the recent past?
This post was originally published on Analytics News