Current Business Affairs Global Artificial Intelligence Market 2018

Artificial Intelligence Market Analysis by Solution, By Technology; By
Application; By Region &Segment Forecast, 2017 – 2025
Market Definition:
Artificial Intelligence (AI) market was valued at USD 11.71 Billion in 2016, and is projected to reach USD 191.60 billion by
2025, growing at a CAGR of 36.68% over the forecast period. Significant improvements in AI deployment and
technological advancements in dynamic AI solutions are anticipated to spur the industry growth. Robust augmentations
in computing power, data storage capacity, and parallelization have also contributed to the rapid uptake of AI
technology in various end-use industries such as healthcare and automotive.
Growing big data analytics vendors, increasing demand for intelligent virtual assistants and rising adoption of cloud-
based applications and services are also projected to drive the global artificial intelligence market. Moreover, increasing
demand for understanding and analyzing visual contents, for improving significant insights, is further anticipated to gain
traction to the technology over the forecast period.
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Market Growth and Analysis:
Artificial intelligence technology has been implemented across varied industries such as healthcare and consumer
electronics. Global organizations have started exploring and implementing the benefits of AI technologies for effective
positioning of their products & services to consumers, this in turn, will drive the AI technology market. However,
prominent players are facing challenges in funds acquisition in early R&D stage of prototypes and technologies.
AI technology also offers various benefits which include high figuring force & information volumes, and modification in
data storage. The technology has been advanced with information driven applications, for instance, picture and voice
acknowledgment techniques. Additionally, self-driven vehicle and Unmanned Aerial Vehicles (UAVs) market will project
firm demand for AI technology in automotive and defense sector. Growth in high computing powers and information
storage capacity has contributed to technological implementation in end-use industries such as healthcare and
automotive.
Based on solution segment, the report displays the revenue, market share, and growth rate of each type, primarily
split into
• Hardware
• Software
• Services
Hardware segment comprises of chipsets including Application-Specific Integrated Circuits (ASIC), Central Processing
Unit (CPU), Graphics Processing Unit (GPU) and, Field-Programmable Gate Array (FPGA). Currently, the hardware
segment is projected to dominate the solution segment by GPUs and CPUs owing to their high computing capabilities