Market Insights
The artificial intelligence market is bolstering from a dynamic phase where it has seen abundant adoption in the enterprise sector, which continues persistently. On this scenario, Market Research Future has come up with the latest report on the global artificial intelligence software market stating that the market would achieve a valuation of USD 11.3 billion by the end 2023 at a rapid pace of 28.1% CAGR.
Artificial intelligence is displayed by machines having a contrasted phenomenon with the natural intelligence of humans. Thus, the artificial intelligence functions through software that caters to the intellectual environment that involves several essential capabilities such as reasoning, learning, solving problems, perception, and representation of action in real.
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Global Artificial Intelligence (AI) Software Platform Market Drivers & Trends
The growth of innovations and development of technology gave an ignition to the rise of artificial intelligence technologies. In the current smart technology era, the demand for analyzing and interpretation of significant data have introduced the need for artificial intelligence solutions. Also, the development of more reliable and constant cloud computing system has significantly impacted the global Artificial Intelligence (AI) Software Platform market.
Some of the other significant factors that are exponentially contributing to the market growth are the upsurge in the investment that is being made in research and development of artificial intelligence technology. Some leading companies like Microsoft, IBM, Google, and others are investing significant shares of the amount in R&D as well as in achievements of startups and mergers with other firms in this field and making artificial intelligence software more reliable and authentic by the time of five years.
In the current scenario, the artificial technology is evolving at a healthy pace along with having recent advances in deep neural networks, which is also one of the major factors to drive the market in the years to come. The deployment of technology in artificial intelligence is highly beneficial in concern with various applications such as chatbots, image and voice processing, text recognition, face detection, and sentiment analysis and more have eventually paved the way for tremendous opportunities to come in the future timeframe.
Key Players
The crucial players in the Artificial Intelligence (AI) Software Platform Market are known globally, along with recent developments, product diversification, and industry expertise. The list of them are Intel (US), Nvidia (US), Microsoft (US), IBM (US), Google (US), SAP (US), Amazon Web Services (US), Wipro (India), Infosys (India), Ayasdi (US), Qualcomm (US), Salesforce (US), Playment (US), H2O.ai (US), Infrrd Inc. (US).
Segmentation
In the reports of MRFR, the market for artificial intelligence software has been segmented by component, vertical, and region.
By the mode of the component, the global Artificial Intelligence (AI) Software Platform Platform segment comprises of solution and services. In this segment, the solution segment leads the market and is further divided into Machine Learning, Natural Language Processing, and Others.
By the mode of deployment, the global Artificial Intelligence (AI) Software Platform Platform classifies as on-premise and on-cloud.
By the mode of vertical, the global Artificial Intelligence (AI) Software Platform Platform is classified into retail and e-commerce, transportation and automotive, BFSI, IT & telecommunication, healthcare and pharmaceutical, industrial automation and manufacturing and others.
Regional Analysis
Region wise, the report of MRFR has mentioned that the global artificial intelligence software market has covered the areas into North America, Europe, Asia-Pacific, and the rest of the world (including the Middle East, Africa, and Latin America).
Among these, North America is projected having the largest market share during the forecast period. The analysis over region states that the US occupies nearly 75-80% of the primary key players who are continuously operating in this market and have gained almost 75% of the market share in the current market trend. Therefore, the market in North America seems to be bolstering and will continue to grow until the year 2023.
Next comes the market size of Europe, which is estimated to grow at the highest CAGR in the expected year time. Europe has observed to have various startups that are being set up on the services of artificial intelligence, which are eventually giving a boost to the market share in broader ways.
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LIST OF TABLES
Table 1 Global Artificial Intelligence (AI) Software Platform Platform Market, By Region, 2018–2023
Table 2 North America: Global Artificial Intelligence (AI) Software Platform Platform Market, By Country, 2018–2023
Table 3 Europe: Global Artificial Intelligence (AI) Software Platform Platform Market, By Country, 2018–2023
Table 4 Asia-Pacific: Global Artificial Intelligence (AI) Software Platform Platform Market, By Country, 2018–2023
Table 5 Rest Of The World: Global Artificial Intelligence (AI) Software Platform Platform Market, By Country, 2018–2023
Continued…….
LIST OF FIGURES
FIGURE 1 Global Artificial Intelligence (AI) Software Platform Platform Market Segmentation
FIGURE 2 Forecast Methodology
FIGURE 3 Porter’s Five Forces Analysis Of Global Artificial Intelligence (AI) Software Platform Platform Market
FIGURE 4 Value Chain/Supply Chain Of Global Artificial Intelligence (AI) Software Platform Platform Market
FIGURE 5 Share Of Global Artificial Intelligence (AI) Software Platform Platform Market In 2017, By Country (In %)
Continued…….
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