Artificial Intelligence Market Intelligence

Artificial Intelligence Market Description

The global artificial intelligence (AI) market is valued at $3.5 billion and is estimated to reach $26.4 billion by 2023 with a CAGR of roughly 40 percent. Machine learning, predictive analytics, natural language processing, and image recognition are the most commonly used technologies in the AI universe and robotics, vision, and speech are also contributing significantly toward the industry’s growth. In the next 5-7 years, AI could replace 50 percent of the human workforce with automated robots, eliminating almost 2 million jobs. By 2022, one in five workers will utilize AI technology to perform their job. Moreover, robots could be the preferred workforce accounting for more than 3 million jobs globally by 2030.

The report provides an insight into the AI market in leading countries such as the U.S., China, India, Germany, and Japan. These regions have witnessed a tremendous growth in various industries due to a high level of process automation. The report includes key driving factors in AI technology and pricing analysis across multiple companies. Product innovation in several companies is constantly evolving to meet the end-user expectation. Thus, various organizations are coming up with innovative products, which are technically advanced to meet the high demands.

Beroe gathers intelligence through primary sources that include industry experts, researchers, and consultants, as well as current suppliers, producers and distributors. Secondary sources can include business journals, newsletters, magazines, market research data, company sources, and industry associations. Following data collation, analysis, and strategic review, the Final Research Report is published on Beroe LiVE.

Report Coverage

Technological Trends
Supplier Analysis
Supplier Profiling
Best Practices

Artificial Intelligence Market Trend, Analysis & Forecast

Category Intelligence on Artificial Intelligence covers the following

Information relating to market, supply, cost, and pricing analysis
Hard to find data on cost and TCO models, supplier details, and performance benchmarks
Macroeconomic and regional trends impacting cost, supply, and other market dynamics
Category-specific negotiation and sourcing advice

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Executive Summary

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Market Analysis

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Supply Analysis

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Cost & Pricing Analysis

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Best Practices

1.Artificial Intelligence Executive Summary

1.1 Global AI Industry Outlook

2.Artificial Intelligence Market Analysis

2.1 AI: Market Overview
2.2 Global AI: Industry Trends
2.3 Regional Market Outlook
2.4 Global AI: Drivers and Constraints
2.5 Porter’s Five Forces Analysis
2.6 AI:Technology Overview
2.7 AI:Major Market Developments
2.8 Implementation Framework for AI

3.Artificial Intelligence Supplier Analysis

3.1 AI Industry Events
3.2 Supplier Profiling
3.3 Key Players and Products
3.3 Key Suppliers by Industry
3.4 Comparison of Top AI Offerings
3.5 All Role in Key Sectors

4.Artificial Intelligence Pricing Analysis

4.1 Best Practices Related to AI solutions
4.2 NLP API and MI: Google
4.3 Translation API Pricing: Google and Microsoft
4.4 Speech Recognition API Pricing: Google and Microsoft
4.5 Vision API Pricing: Google and Microsoft
4.6 Salary Per Annum of the Main Developing Team of AI
4.7Outsourcing AI

Global AI Industry Outlook

The worldwide AI market was valued at $7.35 billion in 2018. The market is forecasted to grow at a CAGR of about 46 percent between 2018 and 2024, and it is estimated to reach $71 billion in 2024
ML, predictive analytics, NLP, and image recognition are the prevalent technologies in AI space

artificial-intelligence-market-size

AI: Market Overview

The global AI market is expected to grow at a CAGR of about 46 percent for 2018–2024, reaching a market value of $71 billion in 2024
Currently, North America has the highest adoption of AI, and also, the largest revenue share in the global market, i.e., more than 40 percent, followed by Asia-Pacific and Europe
APAC is expected to emerge as a lucrative market for AI in the next 5–7 years. The key factors propelling this growth are cloud-based services and the emergence of several AI technology start-ups, which provide innovative products/services
The AI market in key leading countries, such as the US, China, India, Germany, and Japan, has an advent growth, due to the high level of process automation, which is adopted in various industries
Large number of tier-2 suppliers are emerging in the market, with specialized service offerings in the field of healthcare, BFSI, agriculture, gaming, etc.

Global AI: Industry Trends

NLP and ML are major AI technologies, which are shaping the AI market space. Robotics, vision, and speech are also contributing significantly toward the industry’s growth
Many start-up companies are entering the market, with new ideas and innovations, in the field of ML, vision, speech, and autonomous cars

Regional Market Outlook

The North American AI market is expected to grow at a CAGR of about 41-42 percent from 2018 to 2023
The government & defense segments contributed the largest share to the North America’s AI market in 2018, and they would continue to be a dominant market until 2022, and it is expected to grow at a CAGR of 41 percent during the forecast period
The US AI market is highly fragmented, with a presence of a huge number of start-ups in the country, however, the market is expected to undergo consolidation in the coming years, with tech giants, such as Apple, Google, Microsoft, Intel, Amazon, IBM, etc., thrusting on inorganic expansion in the country’s AI market
Growing trend of integration of video surveillance with AI for video analysis, coupled with rising government spending on cyber security solutions, integrated with real-time analytics and AI, is expected to boost the AI market in the US over the next five years

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