Published on : May 23, 2017
Albany, New York, May 23, 2017: The in-depth report on global artificial intelligence market covers key market dynamics, prominent trends, emerging opportunities, and competitive landscape. The research offers comprehensive insights into the recent developments in automation technologies and assesses their impact on the demand across major end-use industries. The study takes a closer look at the emerging disruptive technologies expected to transform the competitive landscape along the forecast period (2017–2021).
The research study analyzes key advancements in sensor and imaging technologies in major regions. It offers the market share and size of various segments in major regions such as the Americas, Asia Pacific, and the Middle East, and Africa (EMEA). Recent advancements in robotics technology in these regions are also covered in the study, with a focus on countries such as the U.S., Germany, and Japan.
Driven by ample opportunities, the global artificial intelligence market is projected to expand at a substantial CAGR of 50.51% from 2017 to 2021. The artificial intelligence market is primarily driven by growing deployment of robotics technology in a wide range of industries such as manufacturing, medical, pharmaceutical, healthcare, and banking and financial services. The surging use of robotics technology to cut down on manufacturing costs has led many companies to adopt user-friendly AI solutions. The demand for artificial intelligence technologies is driven by an upsurge in adoption of automation technologies to improve process efficiencies and enhance productivity among businesses.
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The rising adoption of robotics technology to automate a variety of tasks in the manufacturing sector has catalyzed the market growth. The growing popularity of machine learning technologies among numerous enterprises is a crucial factor bolstering the demand for artificial intelligence technologies.
Several prominent players such as Siemens, IBM, and Amazon Web Services are actively making substantial investments in human-derived AI, which is expected to open up lucrative avenues in the coming years. Leading players are also actively funding start-up firms which will accelerate the development of innovative AI technologies. Constant advancements in 3D printing are anticipated to open up a number of exciting opportunities for market players to capitalize on.
The Americas is the leading market for artificial intelligence and occupies the major share in 2016. The substantial growth of this regional market is attributed to the spiraling investments by large technology and electronics companies in robotics. Furthermore, increasing uptake of AI technologies in various end-use industries is propelled by the increasing demand for automation in the region.
The artificial intelligence market is fairly competitive with the presence of companies of all sizes. Several players are offering customized solutions and innovative products in order to gain a competitive edge over others. Frequent changes in the consumer preferences and rise in product enhancements are likely to intensify the competitive landscape in the coming years.
Leading vendors in the artificial intelligence market are Amazon Web Services, IBM, Siemens, and Omron Adept Technologies.
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