According to MarketIntelReports’ “Global Artificial Intelligence Market Analysis & Forecast Report 2017”:
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The growth of human like robots and their deployment in the developing regions have a positive effect on the growth of the Artificial Intelligence Market. Improvement in productivity and increased customer satisfaction also enhance the demand for AI Intelligence. The need to understand and visualize visual contents is very important for artificial intelligence system. Machine intelligence has many growth prospects and the players focus on developing an integrated solution which includes hardware and software. AI software is gaining importance due to its data driven applications like voice and image recognition. The market has applications in retail, hardware and automotive.
Scope & Regional Forecast of the Artificial Intelligence Market
Machine learning occupied the largest share in the Artificial Intelligence Market in 2015. But it is expected that the speech recognition sub segment will have the highest growth in the coming years. In machine learning technology, Google has brought a change in the car like Toyota Prius with its self driving technology. This factor will spur the demand for artificial science.
In 2016, North America had the largest share in artificial intelligence platform. This is attributed to the high government funding and adoption of technology. Many organisations are collecting domain specific information like cybersecurity, marketing, medical informatics, and fraud detection.
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Artificial intelligence techniques provide many opportunities for investment firms, companies, and consultants which look for a merger or acquisition. The requirement for digital information has encouraged mergers among Artificial Intelligence firms.
The AI world has seen a lot of growth in then past due to requirement of the technology in machine translation, object recognition and perception. The influence of AI in end user industries like retail and business analytics boosts the market growth. Mobile and online services make use of AI software in the form of Google Assistant, Voice recognition of Siri, and Image classification in Facebook.
Segmentations & Key Players Involved in the Artificial Intelligence Market
The Artificial Intelligence Market can be broken down into various segments as follows:
Region- North America, Europe, Asia Pacific, South & Central America.
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