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Artificial Intelligence Market Worth 190.61 Billion USD by 2025

PUNE, India, February 14, 2018 /PRNewswire/ --

According to the latest market research report "Artificial Intelligence Market by Offering (Hardware, Software, Services), Technology (Machine Learning, Natural Language Processing, Context-Aware Computing, Computer Vision), End-User Industry, and Geography - Global Forecast to 2025", published by MarketsandMarkets™, the market is expected to grow from USD 21.46 Billion in 2018 to USD 190.61 Billion by 2025, at a CAGR of 36.62% between 2018 and 2025. Major drivers for the market are growing big data, the increasing adoption of cloud-based applications and services, and increasing demand for intelligent virtual assistants. The major restraint for the market is the limited number of AI technology experts.

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Browse 67 tables and 48 figures spread through 205 pages and in-depth TOC on "Artificial Intelligence Market - Global Forecast to 2025"

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Artificial intelligence market for services to grow at highest CAGR during forecast period 

The market for services is expected to grow at the highest CAGR between 2018 and 2025. The adoption of AI is rapidly increasing in various applications. As AI is a complex technology requiring the implementation of sophisticated algorithms, AI-based systems require deployment and integration, and support and maintenance services. Also, most companies that manufacture and develop AI-based systems and related software provide both online and offline support, depending on the application.

Artificial intelligence market for manufacturing end-user industry to grow at highest CAGR during forecast period 

Of all the end-use industries, the market for manufacturing is expected to grow at the highest CAGR during the forecast period. Increasing data volume derived from the manufacturing value chain has led to the involvement of AI-enabled data analytics in the manufacturing sector. In addition, several industry initiatives, such as Industry 4.0, a connected manufacturing initiative by the Government of Germany, have proliferated the growth of AI-enabled devices in manufacturing.

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North America to hold largest market share, and market in APAC to witness highest growth 

North America is expected to hold the largest share of the artificial intelligence market between 2018 and 2025. North America, being technologically advanced, is a leader in the market. It is the early adopter of the latest technologies; moreover, awareness about the benefits of artificial intelligence is high in the region.

In addition, the presence of prominent AI technology providers, such as IBM (US), Google (US), Microsoft (US), NVIDIA (US), Intel (US), Facebook (US), MetaMind (US), Tute Genomics (US), and AWS (US), is complementing the growth of the market in this region.

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The artificial intelligence market in APAC is expected to grow at the highest CAGR during the forecast period. The increasing adoption of deep learning and NLP technologies in finance, agriculture, marketing, and law applications is driving the market in APAC.

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MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 5000 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model - GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets's flagship competitive intelligence and market research platform, "RT" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.


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