Artificial Intelligence Market- Global Industry Size, Share, Trends, Opportunities, and Forecast, 2018-2028
Segmented By Type (Strong AI and Weak AI), By Technology (Machine Learning, Deep Learning, Natural Language Processing, Computer Vision, and Others) By Deployment (Cloud and On-premises), By Industry (Healthcare, Retail & E-Commerce, Logistics and Transportation, Manufacturing, Consumer Electronics, BFSI, and Others), By Region, Competition.
New York, April 25, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Artificial Intelligence Market- Global Industry Size, Share, Trends, Opportunities, and Forecast, 2018-2028" - https://www.reportlinker.com/p06450656/?utm_source=GNW
The Global Artificial Intelligence Market is projected to register a CAGR of more than 35.6% during the forecast period. The increasing penetration of digital technologies, rising automotive industry, growing healthcare sector, and higher adoption of hyper-personalized services are fuelling the growth of Global Artificial Intelligence Market.
Artificial intelligence is the reconstruction of human intelligence in computers that have been designed to think and behave like people. Machine learning, machine vision, automation, robotics, and other types of technologies all use artificial intelligence.
The proliferation of the Automobile Industry
Autonomous vehicles are the most widely accessible use of AI in the automotive industry, which is growing as a significant source of AI.AI chips, computer vision, and ML are the key AI technologies associated with self-driving.
Moreover, the use of AI in automotive manufacturing will increasingly overlap with the development of sustainable smart cities. 5G connectivity will provide a foundation of low-latency communication from vehicle-to-vehicle (V2V) and eventually vehicle-to-everything (V2X), which opens up a whole range of AI cases. In addition, AI will help with centralized traffic management, which will enhance travel efficiency and reduce vehicle energy use from a sustainability standpoint. Mobility providers will continue to use AI in fleet management and real-time vehicle routing, and infotainment systems will be able to support ambient commerce through interactions with smart infrastructure. For instance, Tesla makes use of cutting-edge artificial intelligence technology, such as autopilot, and uses customer datasets for data analytics to forecast and gather information about consumer requirements, which is then used to enhance the features of its vehicles.
Growing Healthcare Industry
As one of the most important industries in the larger big data environment, healthcare plays a crucial part in a prosperous, productive society.It may truly be a matter of life and death when using AI for healthcare data.
AI can help healthcare professionals, such as doctors, nurses, and other staff members, in their daily tasks.Artificial intelligence (AI) in healthcare can improve patient outcomes, preventive care, and quality of life while also resulting in more precise diagnosis and treatment regimens.
By analyzing information from the public sector, the medical industry, and other sources, AI can also forecast and monitor the development of contagious diseases. Thus, AI has the potential to be a key instrument in the fight against diseases and pandemics, which will benefit global public health.
Moreover, the government of several countries, such as India and China, launched numerous initiatives and schemes to proliferate the growth of the healthcare industry.For instance, in India, Pradhan Mantri Ayushman Bharat Health Infrastructure Mission was announced in 2021 with an outlet of USD 7,776 million over six years.
This scheme focuses on developing capacities of health systems and institutions across the continuum of care at all levels, including primary, secondary, and tertiary, and on preparing health systems to respond effectively to current and future pandemics/disasters.
Increasing Internet of Technology (IoT)IoT has seen steady adoption across the business world over the past decade.Every day IoT devices generate around one billion gigabytes of data.
By 2025, the projection for IoT-connected devices globally is 42 billion.As the networks grow, the data does too.
With AI, IoT has a wide range of benefits for organizations and offers a powerful solution to intelligent automation, such as avoiding downtime, increasing operational efficiency, enabling new and improved products and services, and risk management. Moreover, IoT, along with AI, is revolutionizing many industries, including manufacturing, sales and marketing, automotive, healthcare, etc., which has led to the rising growth of the Global Artificial Intelligence Market in coming years.
Market Segments
Global Artificial Intelligence Market is segmented by type, technology, deployment, industry, and by region.Based on Type, the market is segmented into Strong AI and Weak AI.
Based on Technology, the market is segmented into Machine Learning, Deep Learning, Natural Language Processing, Computer Vision, and Others.Based on Deployment, the market is segmented into Cloud and On-premises.
Based on Industry, the market is segmented into Healthcare, Retail & E-Commerce, Logistics and Transportation, Manufacturing, Consumer Electronics, BFSI, and Others.
Market Players
Major market players in the Global Artificial Intelligence Market are Amazon Web Services, Google LLC, IBM Corporation, Microsoft Corporation, Nvidia Corporation, Alibaba Group Holding Ltd, Intel Corporation, Salesforce, Inc., Oracle Corporation, Hewlett Packard Enterprise Development LP, SAS Institute Inc., Baidu, Inc., Sensely, Inc., H2O.ai., and Samsung Electronics Co., Ltd.
Recent Developments
• In November 2022, NVIDIA collaborates with Microsoft Corporation to build a massive cloud AI supercomputer to help enterprises train, deploy and scale AI, including large, state-of-the-art models.
• In May 2022, MBZUAI announced plans for a strategic collaboration with IBM. The initiative seeks to develop, validate, and incubate technologies that harness the capabilities of AI to address civic, social, and business challenges. Further, the collaboration aims to provide real-life applications, particularly in the fields of natural language processing, as well as AI applications that seek to further climate and sustainability goals and accelerate discoveries in healthcare.
• In October 2022, Google Cloud announced Medical Imaging Suite, new technology to offer flexible options for cloud edge deployment to allow organizations to meet diverse sovereignty, data security, and privacy requirements, centralized management, and policy enforcement with Google Distributed Cloud.
*Report Scope:*
In this report, Global Artificial Intelligence Market has been segmented into the following categories, in addition to the industry trends, which have also been detailed below:
• Artificial Intelligence Market, By Type:
o Strong AI
o Weak AI
• Artificial Intelligence Market, By Technology:
o Machine Learning
o Deep Learning
o Natural Language Processing
o Computer Vision
o Others
• Artificial Intelligence Market, By Deployment:
o Cloud
o On-premises
• Artificial Intelligence Market, By Industry:
o Healthcare
o Retail & E-Commerce
o Logistics and Transportation
o Manufacturing
o Consumer Electronics
o BFSI
o Others
• Artificial Intelligence Market, By Region:
o North America
United States
Canada
Mexico
o Europe
United Kingdom
Germany
France
Italy
Spain
o Asia-Pacific
China
Japan
India
South Korea
Singapore
o South America
Brazil
Argentina
Colombia
o Middle East & Africa
UAE
Saudi Arabia
South Africa
Qatar
Egypt
*Competitive Landscape*
Company Profiles: Detailed analysis of the major companies present in Global Artificial Intelligence Market.
*Available Customizations:*
Global Artificial Intelligence Market with the given market data, Tech Sci Research offers customizations according to a company’s specific needs. The following customization options are available for the report:
*Company Information*
• Detailed analysis and profiling of additional market players (up to five).
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