Artificial Intelligence (AI) is the intelligence presented by machines. The factors that propel the growth of the global Artificial Intelligence Market trends include its extensive applications in agriculture, BSFI, manufacturing, and implementation of Artificial Intelligence for enhancing of consumer services.
On the other hand, there are also factors that hamper the growth of the global Artificial Intelligence Market trends such as the high cost.
The global Artificial Intelligence Market trends are classified on the basis of technology, offering, end-user industry, and geography.
On the basis of technology, the global Artificial Intelligence Market trends are classified as deep learning, robotics, digital personal assistant, querying method, natural language processing, and context-aware processing. Natural language processing (NLP) technology is estimated to dominate the major share of the global Artificial Intelligence Market trends in the coming years. The factors that attribute to the high growth rates include high implementation of Natural language processing (NPL) in several applications like AI-enabled smartphones, AI robots, car-infotainment system. One of the major fuelling factors is the implementation of Natural language processing (NLP) for enhancing consumer services in the retail sector.
On the basis of offering, the global Artificial Intelligence Market trends are classified as products and services. The products segment is further sub-classified as hardware and software. The “services” segment is further sub-classified as installation, training, and support & maintenance.
On the basis of end-user industry, the global Artificial Intelligence Market is classified as agriculture, manufacturing, oil and gas, media and advertising, BFSI, healthcare, transportation and automotive, retail, and others. Amongst the end-user industry, the healthcare segment projects high growth rates during the forecast period. The factors that attribute to the high growth rates include rising adaptation of Artificial Intelligence in patient care, diagnostic care, and drug discovery. Artificial Intelligence is also used in advisory boards, clinical trials, congress planning.
The “agriculture” segment is further sub-classified as crop monitoring, automated irrigation/harvesting (GPS-Enabled) systems, and AI-guided drones. The “manufacturing” segment is further sub-classified as robot-integrated CIM systems. The “oil and gas” segment is further sub-classified as exploration and production (E&P) life cycle. The “media and advertising segment” is further sub-classified as facial recognition advertising and customer self-service.
The “BFSI” segment is further sub-classified as wealth management, fraud detection, and automated virtual assistants. The “healthcare” segment is further sub-classified as Health Assistance and Medical Management and Drug Development. The “Transportation and automotive” segment is further sub-classified as autonomous guided vehicles and infotainment human-machine interface. The “retail” segment is further sub-classified as product recommendations and autonomous in-store robots. The other end-user industry includes legal informatics and virtual mentor.
On the basis of geography, the global Artificial Intelligence Market is classified as North America, Europe, Asia Pacific, and Rest of the World. The North American region includes U.S., Canada, and Mexico. The European region includes England, Germany, France, and Rest of Europe. The Asia Pacific region includes China, Japan, South Korea, India, and Rest of Asia Pacific. Rest of the World comprises Middle East, Africa, and Latin America. In 2015, North America held the major share of the global Artificial Intelligence Market Report. The factors that attribute to the growth of North America include high-tech developments of Artificial Intelligence in various fields such as media, healthcare, BSFI, transportation, etc.
Some of the prominent players that fuel the growth of the global Artificial Intelligence Market Report include Intel Corporation, General Vision, Inc., Numenta, Inc., IBM Corp., Microsoft Corp., Google Inc., Sentient Technologies, Inbenta Technologies, Inc., FinGenius Ltd., and NVIDIA Corporation.
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