World Artificial Intelligence (AI) Market to Reach $71 Billion by 2024 - Majorly Driven by the Growing Adoption of Cloud-Based Technology

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Jul 02, 2019, 12:30 ET

DUBLIN, July 2, 2019 /PRNewswire/ -- The "Artificial Intelligence Market Report: Trends, Forecast and Competitive Analysis" report has been added to ResearchAndMarkets.com's offering.

The future of the global artificial intelligence market looks attractive with opportunities in the healthcare, security, retail, automotive, manufacturing, and financial technology (fintech) sectors

The global artificial intelligence market is expected to reach $71 billion by 2024 with a CAGR of 26% from 2019 to 2024. The major drivers for this market are increasing demand for virtual assistance for easy accessibility of services and growing adoption of cloud-based technology.

Emerging trends, which have a direct impact on the dynamics of the artificial intelligence industry, include growing adoption of artificial intelligence in IoT applications and increasing demand for AI-enabled processors.

The study includes the artificial intelligence market size and forecast for the global artificial intelligence market through 2024, segmented by end use industry, technology, product and service, and region.

Some of the artificial intelligence companies profiled in this report include Intel, IBM, Amazon, Facebook, NVIDIA, Apple, Microsoft, General Electric, and NEC Corporation and others.

The analyst forecasts that the machine learning technology will remain the largest segment and it is also expected to witness the highest growth over the forecast period due to increasing adoption of this technology in the autonomous applications and growing consumer preference for IoT-enabled devices.

Within the artificial intelligence market, media and advertising will remain the largest application due to an increasing adoption of customer-centric marketing strategies and increasing use of social platform for advertisements. The healthcare segment is expected to witness the highest growth over forecast period due to advancements in clinical research and growing demand for electronics-based medical equipment and sensors in the healthcare applications.

APAC will remain the largest region and it is also expected to witness the highest growth over the forecast period due to the growing adoption of IoT (internet of things), increasing installation of smart home devices, and growing industrial automation in countries, such as China, India, and Taiwan.

Some of the features of the report include:

Market size estimates: Global artificial intelligence market size estimation in terms of value ($B) shipment.
Trend and forecast analysis: Market trend (2013-2018) and forecast (2019-2024) by end use and use industry.
Segmentation analysis: Global artificial intelligence market size by end use industry, technology, product and service type in terms of value and volume shipment.
Regional analysis: Global artificial intelligence market breakdown by key regions such as North America, Europe, and Asia & Rest of World.
Growth opportunities: Analysis on growth opportunities in different applications and regions of artificial intelligence in the global artificial intelligence market.
Strategic analysis: This includes M&A, new product development, and competitive landscape of artificial intelligence in the global artificial intelligence market. Analysis of competitive intensity of the industry based on Porter's Five Forces model.

Key Topics Covered

1. Executive Summary

2. Market Background and Classifications
2.1: Introduction, Background, and Classification
2.2: Supply Chain
2.3: Industry Drivers and Challenges

3. Market Trends and Forecast Analysis from 2013 to 2024
3.1: Macroeconomic Trends and Forecast
3.2: Global Artificial Intelligence Market Trends and Forecast
3.3: Global Artificial Intelligence Market by End Use Industry
3.3.1: Media and Advertising
3.3.2: Security
3.3.3: Automotive
3.3.4: Healthcare
3.3.5: Retail
3.3.6: Fintech
3.3.7: Manufacturing
3.3.8: Others
3.4: Global Artificial Intelligence Market by Technology
3.4.1: Machine Learning
3.4.2: Natural Language Processing
3.4.3: Others
3.5: Global Artificial Intelligence Market by Product and Service
3.5.1: Hardware
3.5.1.1: Processor
3.5.1.2: Memory
3.5.1.3: Network
3.5.2: Software
3.5.3: Service

4. Market Trends and Forecast Analysis by Region
4.1: Global Artificial Intelligence Market by Region
4.2: North American Artificial Intelligence Market
4.2.1: Market by End Use: Media and Advertising, Security, Automotive, Healthcare, Retail, Fintech, Manufacturing, and Others
4.2.2: Market by Technology: Machine Learning, Natural Language Processing, and Others
4.2.3: Market by Product and Service: Hardware, Software, and Service
4.2.4: The US Artificial Intelligence Market
4.2.5: Canadian Artificial Intelligence Market
4.2.6: Mexican Artificial Intelligence Market
4.3: European Artificial Intelligence Market
4.3.1: Market by End Use: Media and Advertising, Security, Automotive, Healthcare, Retail, Fintech, Manufacturing, and Others
4.3.2: Market by Technology: Machine Learning, Natural Language Processing, and Others
4.3.3: Market by Product and Service: Hardware, Software, and Service
4.3.4: UK Artificial Intelligence Market
4.3.5: French Artificial Intelligence Market
4.3.6: German Artificial Intelligence Market
4.4: APAC Artificial Intelligence Market
4.4.1: Market by End Use: Media and Advertising, Security, Automotive, Healthcare, Retail, Fintech, Manufacturing, and Others
4.4.2: Market by Technology: Machine Learning, Natural Language Processing, and Others
4.4.3: Market by Product and Service: Hardware, Software, and Service
4.4.4: Chinese Artificial Intelligence Market
4.4.5: Japanese Artificial Intelligence Market
4.4.6: Indian Artificial Intelligence Market
4.5: ROW Artificial Intelligence Market
4.5.1: Market by End Use: Media and Advertising, Security, Automotive, Healthcare, Retail, Fintech, Manufacturing, and Others
4.5.2: Market by Technology: Machine Learning, Natural Language Processing, and Others
4.5.3: Market by Product and Service: Hardware, Software, and Service

5. Competitive Analysis
5.1: Product Portfolio Analysis
5.2: Geographical Reach
5.3: Porter's Five Forces Analysis

6. Growth Opportunities and Strategic Analysis
6.1: Growth Opportunity Analysis
6.1.1: Growth Opportunities for the Global Artificial intelligence Market by End Use Industry
6.1.2: Growth Opportunities for the Global Artificial intelligence Market by Technology
6.1.3: Growth Opportunities for the Global Artificial intelligence Market by Product and Service
6.1.4: Growth Opportunities for the Global Artificial intelligence Market by Region
6.2: Emerging Trends
6.3: Strategic Analysis
6.3.1: New Product Development
6.3.2: Capacity Expansion in the Global Artificial Intelligence Market
6.3.3: Mergers, Acquisitions, and Joint Ventures in the Global Artificial Intelligence Market

7. Company Profiles of Leading Players
7.1: Google
7.2: Siemens AG
7.3: Apple Inc.
7.4: Facebook
7.5: Samsung
7.6: Microsoft
7.7: Amazon
7.8: NVIDIA
7.9: NEC Corporation
7.10: Intel Corporation
7.11: IBM
7.12: General Electric

For more information about this report visit https://www.researchandmarkets.com/r/r9b0gr

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