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At 62+% CAGR, Artificial Intelligence Market Potentially Worth $16.06 Billion by 2022 Led by North America

The artificial intelligence market is forecast to reach $16.06 billion by 2022 at a CAGR of 62.9% during (2016-2022) driven by the growing number of applications of AI technologies in various end-user verticals, the growing adoption of AI for the improvem

PUNE, India, Dec. 1, 2016 /PRNewswire-iReach/ -- The artificial intelligence market for the transportation and automotive sector held the largest market share compared to other end-user industries in 2015. The use of various AI technologies such as machine learning, natural language processing, image processing, and speech recognition for self-driving cars and the development of human-machine interface systems would drive in the growth of this segment. Complete report on "Artificial Intelligence Market" spread across 182 pages, profiling 10 companies and supported with 73 tables and 64 figures is now available at http://www.rnrmarketresearch.com/artificial-intelligence-market-by-technology-machine-learning-natural-language-processing-image-processing-and-speech-recognition-application-advertising-media-finance-retail-and-others-geography-global-forecast-to-2020-market-report.html.

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Natural language processing is expected to grow at the highest rate from 2016 to 2022. The market for natural language processing (NLP) is expected to witness fastest CAGR from 2016 to 2022. The growing adoption of NLP in various applications such as AI-powered robots, smartphones, car-infotainment systems, navigation systems, and personal assistant systems, among others is largely driving its growth. Moreover, the deep learning technology is likely to grow at the second-highest CAGR from 2016 to 2022. The growing penetration of deep learning algorithms for myriad AI applications such as voice recognition, fraud detection, voice search, recommendation engines, sentiment analysis, image recognition, and motion detection, among others is mainly driving its market growth.

Artificial intelligence market in North America expected to grow at the highest rate. This report covers the AI market in regions including North America, Europe, Asia-Pacific, and Rest of the World (RoW). The market in North America is expected to grow at a high CAGR from 2016 to 2022 owing to factors such as the wide-scale adoption of AI technologies in several industries such as manufacturing, media and advertising, healthcare, BFSI, and transportation and automotive.

Moreover, the presence of key industry players such as Google Inc. (U.S), IBM Corporation (U.S.), NVIDIA Corporation (U.S.), and Microsoft Corporation (U.S.) which are engaged in R&D and new product launches of AI-enabled products is further fueling the growth of artificial intelligence market. However, the lack of availability of low-cost and energy-efficient hardware, especially high-speed computing hardware, is hindering the growth of AI market.

This research study is obliging for following audience:

  1. Artificial Intelligence module designers and manufacturers
  2. Research organizations and consulting companies
  3. Associations, forums, and alliances related to artificial intelligence
  4. Investors
  5. Startup companies
  6. Raw material suppliers
  7. Government and other regulatory bodies
  8. Market research and consulting firms

The companies that are profiled in the report are IBM Corp. (U.S.), Microsoft Corp. (U.S.), Google Inc. (U.S.), Fin Genius Ltd. (U.K.), NVIDIA Corporation (U.S.), Intel Corporation (U.S.), General Vision, Inc. (U.S.), Numenta, Inc. (U.S.), Sentient Technologies (U.S.), and Inbenta Technologies, Inc. (U.S.). Make an Inquiry on "Artificial Intelligence Market by Technology (Deep Learning, Robotics, Digital Personal Assistant, Querying Method, Natural Language Processing, Context Aware Processing), Offering, End-User Industry, and Geography - Global Forecast to 2022" research report at http://www.rnrmarketresearch.com/contacts/inquire-before-buying?rname=468962 .

Research Coverage: The report describes various technologies associated with artificial intelligence and related developments in terms of hardware, software solutions, and associated services across different industry verticals and regions. It aims at estimating the market size and future growth potential of this market across different segments such as offering, technology, end-user industry, and geography. Furthermore, the report also includes an in-depth competitive analysis of the key players in the market along with their company profiles, SWOT analysis, recent developments, and key market strategies.

In the process of determining and verifying, the market size for several segments and sub segments gathered through secondary research, extensive primary interviews were conducted with key people. In Tier 1 (50%), Tier 2 (33%) and Tier 3 (17%) companies were contacted for primary interviews. The interviews were conducted with various key people such as C-Level (62%), D-Level (25%) and others (13%) from various key organizations operating in the artificial intelligence market. The primary interviews were conducted worldwide covering regions such as North America (40%), Asia-Pacific (25%), Europe (20%) and RoW (15%).

On a related note, another research titled Deep Learning Market Global Forecasts to 2022 says, the market is expected to be worth USD 1,772.9 million by 2022, growing at a CAGR of 65.3% between 2016 and 2022. Image recognition application holds the largest share of the market. Software holds the largest share of the deep learning market by offering. Deep learning market in North America expected to grow at the highest rate. Companies such as Google Inc. (U.S.), IBM Corp. (U.S.), Microsoft Corporation (U.S.), Qualcomm Technologies, Inc. (U.S.), Skymind (U.S.), Baidu, Inc. (China), Hewlett Packard Enterprise (U.S.), Sensory Inc. (U.S.), General Vision Inc. (U.S.), Intel Corporation (U.S.), and NVIDIA Corporation (U.S.) have been profiled in this 180 pages research report available at http://www.rnrmarketresearch.com/deep-learning-market-by-application-image-recognition-signal-recognition-data-mining-offering-hardware-von-neumann-and-neuromorphic-chip-and-software-end-user-industry-and-geography-global-forecasts-to-2022-market-report.html .

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