Axiom MRC has updated all it's market research reports with the Economic Impact Analysis of COVID19 Pandemic on the market. Our team of analyst are following Comprehensive Three Dimensional (3D) Research Methodology along with large number primary interviews with key industry participants to bring insightful market reports to meet the current market requirements.
Artificial intelligence is one of the fastest growing network technologies in recent years. AI is associated to human intelligence with same characteristics such as understanding, language, reasoning, learning and problem solving. AI is positioned at the core of the next generation software technologies in the market. Companies such as IBM, google, Microsoft and other leading players have implemented AI as an important part of their technology. The rise in number of innovative startups has led to increase in investments in artificial intelligence technology.
Increased focus on providing personalized customer service in real-time drives the market growth. In todays dynamic and competitive business environment customer engagement is an important and dominant influencing factor to achieve success. The AI- integrated platform supports customer services by sort & supply inquiring, augmenting messages, email & phone support and assisting agents among individuals. Growing BFSI industry is expanding opportunities for the AI market. BFSI industry is likely to widen the implementation of AI. Limitations in protecting privacy is the major restraint of the artificial intelligence market. AI market is likely to face challenges regarding varying algorithms and data privacy. The tools such as recommendation engines, adtech neural networks and search algorithms exploit sensitive data of the user. Europe bought general data protection regulation, to control the misuse of personal data generated. This is hampering the demand for the technology.
During the pandemic of Covid-19 artificial intelligence has shown a significant growth due to various benefits across various industries. Artificial intelligence is used worldwide due to its booming technology. It has allowed various employees t work from home in a very efficient manner as it only requires smart technologies such as PC and laptops. This pandemic has emerged as an opportunity for AI-enabled computer systems to fight against tech-giants and startup companies. The AI model used systems has been trained with the data of 5000 positive Covid-19 cases.
The report analyses the artificial intelligence market based on technology, vertical and by geography.
By technology, the global artificial intelligence market is segmented into machine learning, natural language processing, image processing and speech recognition. Machine learning segment has the highest segmental growth and is anticipated to maintain this trend for the upcoming years, owing to the growth in demand for artificial intelligence industry solutions.
The global artificial intelligence market by vertical is classified into media & advertising, BFSI, IT & telecom, retail, healthcare, automotive & transportation, others. IT & telecom sector shows a significant growth in the past few years due to increasing demand of IT sectors. The BFSI industry is widening the implementation of AI. It is already using technology for chatbots, trading decisions, credit scoring applications and for studying financial market impact analysis. Furthermore, BFSI is using AI technology for offering personalized advice to its users regarding investment, debt management, refinancing and more.
Geographically, the artificial intelligence market is studied across the countries of key regions such as, North America, Europe, Asia Pacific and the rest of the world regions which includes Latin America, and Middle East & Africa. Asia pacific is expected to the growing region in the forecast period. North America holds the largest share in the market. The market in Latin America and middle east & Africa is likely to grow significantly during the forecast period. The Saudi Arabian government established Saudi Data Artificial intelligence Authority (SDAIA) to empower the market growth.
Some of the major players operating in this market include Baidu (China), Intel (US), Facebook (US), NVIDIA (US), Samsung Electronics (South Korea), Micron Technology (US), Xilinx (US), IBM (US), Microsoft (US), Google Inc (US), Oracle (US), Salesforce (US), Amazon Web Services (US), SAS (US), SAP SE (Germany), General Electric (US), Cisco (US), Rockwell Automation (US), Siemens (Germany).
The report analyses the artificial intelligence market based on technology, vertical and by geography.
The global artificial intelligence market by vertical is classified into media & advertising, BFSI, IT & telecom, retail, healthcare, automotive & transportation, others. IT & Telecom sector shows a significant growth in the past few years due to increasing adoption of AI.
Some of the major players operating in this market include Baidu (China), Intel (US), Facebook (US), NVIDIA (US), Samsung Electronics (South Korea), Micron Technology (US), Xilinx (US), IBM (US), Microsoft (US), Google Inc (US), Oracle (US),
Geographically, the artificial intelligence market is studied across the countries of key regions such as, North America, Europe, Asia Pacific and the rest of the world regions which include Latin America, and Middle East & Africa.
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