Artificial Intelligence Market 2024 Overview and Analysis

1
Artificial Intelligence Market 2024- Present
Scenario and Growth Prospects Global Market
Insights Inc.
Fuel Cell Market size worth 25.5bn by 2024
Low Power Wide Area Network
2
Regional Analysis of Artificial Intelligence
Market

• North America held the highest market share in
  2016 and is expected to grow at the highest CAGR
  from 2017 to 2024. Applications of AI in various
  sectors, such as agriculture, BFSI, media and
  advertising, consumer electronics,
  transportation, and automotive, majorly drive the
  industry growth.
• Moreover, the presence of various software
  development companies and domestic
  multinational AI products in this region will
  further boost the artificial intelligence market
  growth in this region.

3
Application Analysis of Artificial Intelligence
Market

• The artificial intelligence market is segmented
  into retail, transportation automotive, oil
  gas, media advertising, manufacturing,
  healthcare, BFSI, and agriculture. Transportation
  automotive is projected to hold the largest
  market share in the application segment followed
  by healthcare and media advertising services.
  Rising adoption of AI in car infotainment and
  atomization will drive the segment growth over
  the forecast timeline.
• Based on offerings, the artificial intelligence
  market is classified into products and services.
  The product segment including software and
  hardware held a substantial market share in 2016.
  The extensive development in AI-enabled hardware
  and software products are the major factors
  boosting the industry growth.

4
Competitive Market Share of Artificial
Intelligence Market

• Various companies are currently offering advanced
  products and services according to the customer
  requirements. Key players in the artificial
  intelligence market include IBM Corporation,
  NVIDIA Corporation, Nuance Communications,
  Cognii, Quantum Simulations, Google, Inc.,
  Microsoft Corporation, and Intel Corporation. The
  companies are highly investing in RD activities.
  
• Moreover, the major players are focusing on new
  product development with more computational
  efficiency. In October 2016, Google launched
  Pixel, the new smartphone equipped with a highly
  developed hardware and software along with
  several other state-of-the-art features. Pixel
  includes Google assist, which is a natural
  language processing tool it helps users to
  search answers and assist them in their daily
  activities.

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