TMRR, in its recent market report, suggests that the Artificial Intelligence market report is set to exceed US$ xx Mn/Bn by 2029. The report finds that the Artificial Intelligence market registered ~US$ xx Mn/Bn in 2018 and is spectated to grow at a healthy CAGR over the foreseeable period. This Artificial Intelligence market study considers 2018 as the base year, 2019 as the estimated year, and 2019 – 2029 as the forecast timeframe.
The Artificial Intelligence market research focuses on the market structure and various factors (positive and negative) affecting the growth of the market. The study encloses a precise evaluation of the Artificial Intelligence market, including growth rate, current scenario, and volume inflation prospects, on the basis of DROT and Porter’s Five Forces analyses. In addition, the Artificial Intelligence market study provides reliable and authentic projections regarding the technical jargon.
Important regions covered in the Artificial Intelligence market research include Region 1 (Country 1, country 2), Region 2 (Country 1, country 2), Region 3 (Country 1, country 2) and Region 4 (Country 1, country 2).
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The Artificial Intelligence market study answers critical questions including:
- What tactics are being utilized by the Artificial Intelligence market players to expand their production footprint in region?
- What are the threats faced by players in the global Artificial Intelligence market mutually?
- Why region holds the majority of share in the global Artificial Intelligence market?
- Why segment has the largest consumption in region?
- Which industries remain the leading consumers of the Artificial Intelligence across the globe?
The content of the Artificial Intelligence market report includes the following insights:
- Growth outlook of the global Artificial Intelligence market in terms of value and volume
- Strategies utilized by different Artificial Intelligence market players.
- Drivers, restraints, opportunities and trends (DROT Analysis) impacting the growth prospect for the Artificial Intelligence over the forecast period.
- End use consumption of the Artificial Intelligence across various regions.
- Identify the ecological impacts of the Artificial Intelligence and what regulations are being imposed on its usage.
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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.
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All the players running in the global Artificial Intelligence market are elaborated thoroughly in the Artificial Intelligence market report on the basis of R&D developments, distribution channels, industrial penetration, manufacturing processes, and revenue. In addition, the report examines, legal policies, and comparative analysis between the leading and emerging Artificial Intelligence market players.
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This post was originally published on Analytics News