The report covers five regions including North America, Europe, Asia-Pacific, South America and META. Each region is segregated by countries, which include North America (USA, Canada, Mexico), Europe (UK, Germany, France, Spain, Italy and Rest of Europe), Asia-Pacific (India, China, Japan, and Rest of Asia-Pacific), South America (Brazil, Rest of South America), META (Middle East, Turkey, Africa). These are the countries throughout the world where the robust growth of artificial intelligence market adoption was observed in the past and is expected to register growth during the forecast period due to increasing adoption of advanced infrastructures and rising demand for automation in almost all the sectors. Also, key drivers of all the countries are included in the report which indicates the favorable opportunities for companies to enter into these markets.

The report covers the following major segments of the Artificial Intelligence market:

• By Offering: Hardware, Software and Services
• By Technology: Natural Language Processing (NLP), Context-Aware Computing, Computer Vision and Others (Anomaly detection, Time Series analysis, recommender systems)
• By Deployment Mode: Cloud and On-Premises
• By Applications: BFSI, Retail & E-Commerce, Telecommunication & IT, Healthcare & Life Sciences, Automotive, Government & Defence, Manufacturing, Energy & Utilities and Others
• By Region: North America, Europe, Asia-Pacific, South America and META

Global Artificial Intelligence Market – Key Industry Insights

• Global market for Artificial Intelligence is growing with revenue of USD 37,567.4 Million in 2020, and it is expected to witness a CAGR of 30.3% during the period 2021-2028.
• Among the various application, the manufacturing segment held the largest share of XX%, with the value at USD XX Million in 2020 and it is expected to grow with the CAGR of XX% to reach USD XX Million in 2028.
• Out of two deployment mode, the cloud segment held the largest share of XX%, with the value at USD XX Million in 2020 and it is expected to grow with the CAGR of XX% to reach USD XX Million in 2028.
• Among the various technologies, the computer vision segment held the largest share of XX%, with the value at USD XX Million in 2020 and it is expected to grow with the CAGR of XX% to reach USD XX Million in 2028.
• Among the offering types, the software segment held the largest share of XX%, with the value at USD XX Million in 2020 and it is expected to grow with the CAGR of XX% to reach USD XX Million in 2028.
• Among the five regions including North America, Europe, Asia-Pacific, South America and META, the North American market held the largest share of XX%, with the value at USD XX Million in 2020 and it is expected to grow with the CAGR of XX% to reach USD XX Million in 2028.

Global Artificial Intelligence – Investment Rate by Technologies (%)

Global Artificial Intelligence Market – Drivers

• Increasing demand for AI-enhanced Banking Security, Compliance
• Increasing AI applications in Self-driving Cars
• Rising demand for AI in Retail and E-commerce
• Increasing demand for AI in Healthcare Industry
• Increasing demand for AI in Manufacturing Industry
• Rising demand for Network Monitoring, Data-driven Decisions

COVID-19 Impact Analysis

COVID-19 has hastened the adoption of advanced analytics and artificial intelligence around the world. Organizations have been driven to implement appropriate changes in their operations to balance the need for protecting employee health and ensuring the survival of the business. To this end, executives have realized the power of cognitive tools and artificial intelligence solutions to manage the crisis. Numerous companies and consumers are going digital, which has led to an increase in the need for artificial intelligence-powered applications such as contact tracing, facial recognition, medical diagnosis, and other solutions. Artificial intelligence opens up untapped markets for organizations in addition to refining and streamlining existing operations. The global corporate machinery is rethinking and reconfiguring business strategies to navigate out of the crisis and back to normalcy.

Artificial intelligence is seen as a medium to not only optimize decision making but serve as a framework for future business operations. Deep Learning, Natural Language Processing (NLP), Computer vision, and Machine learning are sub-domains of artificial intelligence. Deep learning algorithms are good at identifying patterns in large data sets and finding small details in visual data that usually go unnoticed by the human eye. NLP finds its use in mining covid-19 related data in regional languages to accurately report statistics on active cases, deaths, and recoveries. Computer vision is being leveraged to keep a check on adherence to covid-19 protocols. The applications of the above-mentioned domains are plenty. In parallel to traditional uses of artificial intelligence, numerous novel areas have been infiltrated by artificial intelligence applications after the pandemic.

Global Artificial Intelligence (AI) Market Segmentation

• Global Artificial Intelligence (AI) Market, By Offering
  • Hardware
  • Software
  • Services

• Global Artificial Intelligence (AI) Market, By Technology
  • Natural Language Processing (NLP)
  • Context-Aware Computing
  • Computer Vision
  • Others

• Global Artificial Intelligence (AI) Market, By Deployment Mode
  • Cloud
  • On-Premise

• Global Artificial Intelligence (AI) Market, By Applications
  • BFSI
  • Retail and E-Commerce
  • Telecommunication and IT
  • Healthcare and Life Sciences
  • Automotive
  • Government and Defense
  • Manufacturing
  • Energy and Utilities
  • Other Verticals

• Global Artificial Intelligence (AI) Market, By Region
  • North America
    • USA
    • Canada
    • Mexico
  • Asia-Pacific
    • China
    • India
    • Japan
    • Rest of Asia-Pacific
  • Europe
    • UK
    • Germany
    • France
    • Sweden
    • Rest of Europe
  • South America
    • Brazil
    • Rest of South America
  • META
    • Middle East
    • Turkey
    • Africa

Company Profiles 

• ALPHABET INC (GOOGLE LLC)
• INTERNATIONAL BUSINESS MACHINES CORPORATION
• INTEL CORPORATION
• MICROSOFT
• AMAZON
• NVIDIA
• SAMSUNG ELECTRONICS
• FACEBOOK