Report reveals that the global artificial intelligence platform market is set to capture a compound annual growth rate (CAGR) of 56.6%between 2019 and 2024. In 2018, the market was valued at USD 4880 million and is expected to reach USD 46000 million by end of 2024.
Artificial Intelligence Platform market is intelligence displayed by machines, it is the software that is capable of intelligent behavior. Reasoning, learning, perception, problem solving and knowledge representation are required for creating intelligent software.
Largest consumption country of Artificial Intelligence Platform in the world is United States. It took about 35.88% of the global market is 2017.
Factors affecting the market growth of artificial intelligence platform are demand for intelligent virtual assistants, increasing adoption of cloud-based applications and services and growing big data. For the artificial intelligence platform market, the major restraint is the limited number of technology experts.
Segmental Analysis
The segmental analysis of the global artificial intelligence platform market has been conducted based on product type, application, companies, technologies, end- user industries and region.
By type, the market has been segmented into On-Premise and Cloud-based
By application, the market has been segmented into Voice Processing, Text Processing and Image Processing
By companies, the market has been segmented into Google, IBM, Baidu, Microsoft, Intel, SAP, Bighterion, Salesforce, IFly Tek, KITT.AI, Megvii Technology, H20.ai, Albert Technologies, Yseop, Brainsoft, NanoRep(LogMeln), Ada Support, Astute Solutions, IDEAL.com and Wipro.
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On the basis of technologies, market has been segmented into natural language processing (NLP), machine learning (ML), computer vision and context-aware computing. On the basis of end-user industries, the artificial intelligence platform market has been segmented into healthcare, manufacturing, automotive, agriculture, retail, security, marketing, human resources, law, and fintech. Market for manufacturing is expected to grow at the highest CAGR during the forecast period, out of all the end-user industries.
Global Artificial Intelligence Platform Market: Regional Analysis
On the basis of region, the global artificial intelligence market has been segmented into North America, Europe, Asia-Pacific, South America and Middle East and Africa. In North America, countries such as the United States, Canada and Mexico are covered. In Europe, Countries such as the Germany, France, UK, Russia and Italy are covered. In Asia-Pacific countries such as the China, Japan, Korea, India and Southeast Asia are covered. In South America, countries such as the Brazil, Argentina and Colombia are covered. In Middle East and Africa, countries such as the Saudi Arabia, UAE, Egypt, Nigeria and South Africa are covered.
Europe took up about 22.43% the global artificial intelligence platform market in 2017, while United States was about 35.88%.
More global artificial intelligence platform market share was increase in Asia –Pacific, especially in fast growing India, China and Southeast Asia regions. Europe also plays a vital role in artificial intelligence platform market.
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