Market Size – USD 29.50 billion in 2019, Market Growth - CAGR of 36.2%, Market trends –Growing investment in research and development.

VANCOUVER, BC, CANADA, September 14, 2022 /EINPresswire.com/ --  The global Artificial Intelligence Market is expected to reach USD 348.99 Billion by 2027, according to a new report by Emergen Research. The increasing need for understanding consumer needs and market trends is one of the major factors driving the market growth. Moreover, the extensive adoption of smartphones, along with the popularity of social media, will also boost the growth of the market in the coming years. One of the mentionable traits of AI is the ability and support it provides to machines to react, act, learn, and think like human beings. As a result of the mentioned characteristics, it turns out to be an effective decision making and data analytics tool that helps in deciding based on past data and identified patterns. It is the mentioned traits of AI, which has resulted in an increase in different industries that have a positive impact on the growth of the market.

The report further offers a complete value chain analysis along with an analysis of the downstream buyers and upstream raw materials. The study focuses on global trends, regulatory frameworks, and macro- and micro-economic factors. The report also provides an extensive analysis of the segment and sub-segmented expected to dominate the market over the projected period. The report offers a forecast estimation of the market with regards to the analysis of the market segmentation, including product type, end-user industries, application spectrum, and other segments. The Global Artificial Intelligence Market report presents comprehensive information covering insightful data for businesses and investors for the time period of 2020-2027. The report studies the historical data of the Artificial Intelligence market and offers valuable information about the key segments and sub-segments, revenue generation, demand and supply scenario, trends, and other vital aspects. The report offers an accurate forecast estimation of the Artificial Intelligence industry based on the recent technological and research advancements. 

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Top competitors of the Artificial Intelligence Market profiled in the report include:

Samsung Electronics, Intel, Xilinx, NVIDIA, IBM, Micron Technology, Microsoft, Amazon Web Services (AWS), Google, and Facebook, among others.

Some Key Highlights from the Report

The revenue generated by the software segment is the result of the extensive use of these tools in analyzing hidden data sets and data patterns from large datasheets.

Artificial intelligence can help reduce construction costs in many ways. For example, the use of virtual reality goggles and mini-robots into buildings under construction to track the work as it progresses. AI is also being used today to design the routing of electrical and plumbing systems in modern buildings. Artificial intelligence is also beneficial for the development of safety systems at work sites, which reduces the risks of hazards and accidents.

North America dominated the market owing to the rapid technological advancements and increasing government investments in the development of artificial intelligence (AI). Moreover, the presence of some of the leading players of the market in the region will also drive the growth of the market in the region.

Machine learning comes with a wide range of applications across several industries, such as the banking and financial sector, healthcare, retail, publishing, and social media, among others. It is used to analyze the relevance of advertisements and contents based on users’ preferences. It held a market share of 32.6% in the year 2019.

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For the purpose of this report, Emergen Research has segmented into the global Artificial Intelligence Market on the basis of offering, technology, end-user industry, and region:

Offering Outlook (Revenue, USD Billion; 2017-2027)

Hardware

Processors

Memory

Network

Software

AI Platforms

AI Solutions

Services

Deployment & Integration

Support & Maintenance

Technology Outlook (Revenue, USD Billion; 2017-2027)

Machine Learning

Deep Learning

Supervised Learning

Unsupervised Learning

Reinforcement Learning

Generative Adversarial Networks (GANS)

Others

Natural Language Processing (NLP)

Context-Aware Computing

Computer Vision

End-User Industry Outlook (Revenue, USD Billion; 2017-2027)

Healthcare

Manufacturing

Agriculture

Automotive

Retail

Human Resources

Security

Marketing

Construction

Law

Fintech

Aerospace

Defense

Supply chain

Food and Beverage

Media and Entertainment

Gaming

Telecommunications

Oil and Gas

Regional Analysis of the Artificial Intelligence Market:

North America (U.S., Canada)

Europe (U.K., Italy, Germany, France, Rest of EU)

Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)

Latin America (Chile, Brazil, Argentina, Rest of Latin America)

Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

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Market Overview:

The research report on the Artificial Intelligence market is formulated through extensive primary and secondary research along with qualitative and quantitative analysis of vital aspects of the market. The insightful data is further validated and verified by the industry professionals. The report strives to offer deeper insights into the overall market scenario of the Artificial Intelligence business sphere.

Key Objectives of the Report:

Analysis and estimation of the Artificial Intelligence market size and share for the projected period of 2020-2027

Extensive analysis of the key players of the market by SWOT analysis and Porter’s Five Forces analysis to impart a clear understanding of the competitive landscape

Study of current and emerging trends, restraints, drivers, opportunities, challenges, growth prospects, and risks of the global Artificial Intelligence market

Analysis of the growth prospects for the stakeholders and investors through the study of the promising segments

Strategic recommendations to the established players and new entrants to capitalize on the emerging growth opportunities

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About Emergen Research

Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.

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Artificial Intelligence Market Size Worth USD 348.99 Billion by 2027