Artificial Intelligence: Applications and Global Markets
The global market for artificial intelligence should grow from $3.5 billion in 2018 to reach $26.1 billion by 2023 at a compound annual growth rate (CAGR) of 49.1% for the period of 2018-2023.
- 52 data tables and 36 additional tables
- An overview of the global market for artificial intelligence
- Country-specific data and analysis for USA, Canada, Mexico, Germany, France, UK, China, India and Japan
- Coverage of technological background and history of artificial intelligence
- Detailed description of artificial intelligence hardware architecture, their current market scenario and future trends
- Information on concept of robotics, autonomous vehicles and virtual agents
- Assessment of artificial intelligence deployment in IT & telecom, and Banking, Financial services and Insurance (BFSI) sector
- Company profiles of major players in the market, including Amazon Inc., Alphabet Inc., Apple Inc., Hewlett Packard Enterprise, Intel Corp., IBM, Microsoft Corp., Oracle Corp., Salesforce.com, SAP SE and SAS Institute Inc.
In this report, the market has been segmented based on technology, deployment, organization size, end-user industry and geography. The report provides an overview of the global market for artificial intelligence and analyzes market trends. Using 2017 as the base year, the report provides estimated market data for the forecast period 2018 through 2023. Revenue forecasts for this period are segmented based on deployment, organization size, end-user industry and geography. Market values have been estimated based on the total revenues of software and solution providers.
The report covers the market for artificial intelligence with regard to application sectors in various geographic regions. It also focuses on the major trends and challenges that affect the market and the vendor landscape. The report estimates the global market for artificial intelligence in 2017 and provides projections of the expected market size through 2023.
Based on technology, the global artificial intelligence market is segmented into machine learning, natural language processing (NLP), computer vision and expert systems. Based on deployment mode, the global artificial intelligence market is divided into on-premise deployment and cloud deployment. Based on organization size, the artificial intelligence market is segmented into small and medium-sized enterprises (SMEs) and large enterprises. Market segmentation by organization size is based on the number of employees in each type of organization. The SME segment includes enterprises with 10 to 500 employees, and organizations with more than 500 employees are considered to be in the large enterprise segment. Based on industry verticals, the market is segmented into manufacturing; banking, financial services and insurance (BFSI); healthcare and life sciences; retail; IT and telecom; government and defense; manufacturing; energy and utilities; and others. By region, the market is segmented into North America, Europe, Asia-Pacific and RoW (Rest of World). Revenue forecasts for the period 2018 to 2023 are provided for all the previously mentioned segments of the artificial intelligence market, with estimated values derived from software and solution providers’ total revenue.
The report also includes a chapter describing the major players in the market. It explains the major drivers, competitive landscape and current trends in the artificial intelligence market. The report concludes with an analysis of the artificial intelligence vendor landscape and includes detailed profiles of the major players in the global machine learning market.
Note: This report provides market estimates only for the software component of the artificial intelligence market.
Led by Research Head Karthik Arun, the BCC Research staff is composed of expert analysts skilled in conducting primary research, secondary research and data analysis and who have decades of combined experience covering a wide range of industries, including healthcare, advanced materials and emerging technologies. Collectively, the team represents a diverse set of educational achievements with individual graduate work completed in microbiology, electrical engineering, business administration, surgery and other subject areas.
The total worldwide AI market was estimated at $11.9 billion in 2002.
Its expected average annual growth rate (AAGR) will be 12.2% through 2007.
Expert systems will see strong growth reaching $4.8 billion in sales in 2007.
Belief networks will see $2.2 billion in sales, and an AAGR of 13.1%.
AI-enhanced applications will be the strongest in growth.