An increase in the adoption of Big Data and a rise in the adoption of cloud-based services will propel the demand for the market
VANCOUVER, BC, CANADA, April 11, 2022 /EINPresswire.com/ — The global Artificial Intelligence Market is expected to reach USD 348.99 Billion by 2027, according to a new report by Emergen Research. The increasing need for understanding consumer needs and market trends is one of the major factors driving the market growth. Moreover, the extensive adoption of smartphones, along with the popularity of social media, will also boost the growth of the market in the coming years.
One of the mentionable traits of AI is the ability and support it provides to machines to react, act, learn, and think like human beings. As a result of the mentioned characteristics, it turns out to be an effective decision making and data analytics tool that helps in deciding based on past data and identified patterns. It is the mentioned traits of AI, which has resulted in an increase in different industries that have a positive impact on the growth of the market.
The increased adoption of cloud-based solutions makes the incorporation of Artificial Intelligence (AI) services easy and effective. Cloud technology provides with required information and support for the AI learning process, which positively impacts the growth of the market. In various end-user industries, there has been an elevated demand for cognitive computing, which also acts as a driving factor for the expansion of the market.
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The report discusses in detail the growth opportunities, challenges, market drivers and restraints, limitations, threats, and demands of the Artificial Intelligence market. The study further assesses the regional market as well as the international market to garner an insight into the scope of the market. The report also offers estimations and predictions about the market segment and sub-segments exhibiting promising growth in the forecast timeline. The report also provides deeper insights into the technological advancements, industrial landscape, and emerging product and technological developments in the Artificial Intelligence market. It offers fruitful insights into the business sphere to help businesses capitalize on the lucrative growth opportunities.
The report, additionally, offers a comprehensive SWOT analysis and Porter’s Five Forces analysis to offer a better understanding of the competitive landscape of the industry. It also covers strategies adopted by prominent players such as mergers and acquisitions, collaborations, joint ventures, product launches, and brand promotions, among others. The report aims to offer the readers a holistic understanding of the relevant features of the industry.
Key Players Profiled in the Report are:
Samsung Electronics, Intel, Xilinx, NVIDIA, IBM, Micron Technology, Microsoft, Amazon Web Services (AWS), Google, and Facebook, among others.
Furthermore, the report provides a comprehensive overview of the Artificial Intelligence market along with product portfolio and market performance. The report offers key insights into market share, supply chain analysis, demand and supply ratio, import/export details, and product and consumption patterns. To gain a better understanding, the report is further segmented into sections such as product types offered by the market, application spectrum, companies, and key geographical regions where the market has established its presence.
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Analysis of the segments and their growth projection is carried out by extensive historical and current analysis of the market scenario. Further, the report offers details about the factors and features of the Artificial Intelligence market expected to boost the growth of the industry in the coming years.
For the purpose of this report, Emergen Research has segmented into the global Artificial Intelligence Market on the basis of offering, technology, end-user industry, and region:
Offering Outlook (Revenue, USD Billion; 2017-2027)
Deployment & Integration
Support & Maintenance
Technology Outlook (Revenue, USD Billion; 2017-2027)
Generative Adversarial Networks (GANS)
Natural Language Processing (NLP)
End-User Industry Outlook (Revenue, USD Billion; 2017-2027)
Food and Beverage
Media and Entertainment
Oil and Gas
Key Questions Answered in the Report:
What is the growth rate of the Artificial Intelligence market? What is the anticipated market valuation of Artificial Intelligence industry by 2028?
What are the key growth driving and restraining factors of the Artificial Intelligence market?
Who are the prominent players operating in the market? What are the key strategies adopted by these companies?
What are the key opportunities and growth prospects of the Artificial Intelligence industry over the forecast period?
Which region is expected to show significant growth in the coming years?
Some Key Highlights from the Report
Machine learning comes with a wide range of applications across several industries, such as the banking and financial sector, healthcare, retail, publishing, and social media, among others. It is used to analyze the relevance of advertisements and contents based on users’ preferences. It held a market share of 32.6% in the year 2019.
The revenue generated by the software segment is the result of the extensive use of these tools in analyzing hidden data sets and data patterns from large datasheets.
Artificial intelligence can help reduce construction costs in many ways. For example, the use of virtual reality goggles and mini-robots into buildings under construction to track the work as it progresses. AI is also being used today to design the routing of electrical and plumbing systems in modern buildings. Artificial intelligence is also beneficial for the development of safety systems at work sites, which reduces the risks of hazards and accidents.
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