NEW YORK – The Artificial Intelligence (AI) Market size is expected to grow by USD 76.44 billion at a CAGR of 21% during the forecast period. The artificial intelligence (AI) market report also offers information on several market vendors, including Alphabet Inc., CognitiveScale, Intel Corp., International Business Machines Corp., Microsoft Corp., Nuance Communications Inc., NVIDIA Corp., Oracle Corp., Tesla Inc., and Wipro Ltd. among others.
This report extensively covers artificial intelligence (AI) market segmentation by
- Enduser- Retail, banking, manufacturing, healthcare, and others
- The retail sector’s share of the artificial intelligence (AI) market is expected to expand significantly. One of the markets for AI that is expanding the quickest is the retail industry. Supply chain planning, demand forecasting, price optimization, consumer intelligence, and improving daily shop operations are just a few of the many use cases for AI in the retail sector. Retailers, restaurant owners, and banks have all adopted vending machines due to the growth of Long-term Evolution (LTE) networks around the world.
- Geography- North America, Europe, APAC, South America, and MEA
- North America will account for 56% of market growth. In North America, the US is the main market for artificial intelligence (AI). The market in this region will expand more slowly than markets in other regions. Throughout the projection period, North America’s artificial intelligence (AI) market will rise thanks to significant investments in R&D facilities.
Read the 120-page report with TOC on “Artificial Intelligence (AI) Market Analysis Report by End-user (retail, banking, manufacturing, healthcare, and others) and Geography (North America, Europe, APAC, South America, and MEA), and the Segment Forecasts”. Buy Sample Report Now!Major Five Artificial Intelligence (AI) Companies:
- Alphabet Inc.- This segment offer products such as Ads, Android, Chrome, Google Cloud, Google Maps, Google Play, Hardware (including Nest), Search, and YouTube.
- CognitiveScale- The company offers Cortex AI. It is AI-powered multi-channel healthcare and financial services application that helps companies reduce operational costs.
- Intel Corp.- The company offers AI Analytics Toolkit. It provides a comprehensive set of optimized Python libraries and frameworks to optimize end-to-end data pipelines. It provides other products as well.
- Nuance Communications Inc.- The company offers virtual assistants and live chat platforms to other companies.
- Oracle Corp.- The company offers its autonomous database, NoSQL, and other products.
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Technavio categorizes the global artificial intelligence (AI) market as a part of the global application software market within the global information technology market. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
The value chain of the application software market includes the following core components:
- Software development process
- Marketing and distribution
- Post-selling services
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|Artificial Intelligence (AI) Market Scope|
|Growth momentum & CAGR||Accelerate at a CAGR of 21%|
|Market growth 2021-2025||$ 76.44 billion|
|YoY growth (%)||19.84|
|Regional analysis||North America, Europe, APAC, South America, and MEA|
|Performing market contribution||North America at 56%|
|Key consumer countries||US, China, Germany, UK, and France|
|Competitive landscape||Leading companies, Competitive strategies, Consumer engagement scope|
|Key companies profiled||Alphabet Inc., CognitiveScale, Intel Corp., International Business Machines Corp., Microsoft Corp., Nuance Communications Inc., NVIDIA Corp., Oracle Corp., Tesla Inc., and Wipro Ltd.|
|Market dynamics||Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period|
|Customization purview||If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.|