Global Artificial Intelligence (AI) Market Outlook, 2026
DUBLIN, October 14, 2021 / PRNewswire / – The “Artificial Intelligence Market, Global Forecasts, Impact of COVID-19, Industry Trends, By Solution, Technology, Region, Business Opportunity Analysis” report was added to ResearchAndMarkets.com offer.
According to the report, the global AI market will be worth 284.4 billion US dollars by 2026.
Today, the artificial intelligence platform has become a way for computer systems to perform tasks such as human intelligence, including decision making and speech recognition. Globally, problem solving, social intelligence and general intelligence are carried out using the artificial intelligence platform. In addition, the rise of high-level computer languages ââhelps various industries to work effectively on the artificial intelligence platform.
The artificial intelligence market is built around hardware, software and services. In recent years, artificial intelligence services have been at the forefront of all innovations and will continue to remain so in the forecast years. Artificial intelligence services cover installation, integration, maintenance and support projects. With the growing abundance of businesses and competition, companies have rigorously integrated artificial intelligence (AI) technology into their services. For example, the BFSI industry has increasingly adopted artificial intelligence services to improve operational efficiency and enable a rich customer experience.
In addition, the software solutions promise advancements in information storage capacity, high computing power and parallel processing capabilities to realize high-end artificial intelligence software in dynamic vertical applications. Nevertheless, artificial intelligence software solutions include libraries for the design and deployment of artificial intelligence applications, such as linear algebra, primitives, inference, video analysis, sparse matrices and several physical communication skills. According to the analysis, the global artificial intelligence industry is expected to grow at a whopping 29.44% CAGR during the forecast period 2020-2026.
Through Chip type
Artificial intelligence includes chipsets such as Graphics Processing Unit (GPU), Application-Specific Integrated Circuit (ASIC), Field-Programmable Gate Array (FPGA) and Central Processing Unit (CPU). An Application Specific Integrated Circuit (ASIC) dominates the segment of artificial intelligence chips, specially designed for a specific application or purpose. It is specifically designed for a particular application compared to a logic device or a standard logic integrated circuit. It has also been made smaller and uses less electricity.
The artificial intelligence market is instilling machine learning, natural language processing, image processing and speech recognition through technology. Machine learning covers notable investments in artificial intelligence. It covers both artificial intelligence platforms and cognitive applications, including tagging, grouping, categorization, hypothesis generation, alerts, filtering, navigation, visualization, facilitating consulting solutions, intelligent and cognitively equipped. According to the estimate, the global artificial intelligence market size was $ 60.46 billion in 2020.
Geographic analysis of AI trends
The global artificial intelligence market is segmented into North America, Europe, Asia Pacific, Latin America, the Middle East and Africa. North America is a significant contributor due to the rise in government initiatives and market investment. In addition, in the Asia Pacific, China demonstrates growing investments in artificial intelligence technology to deliver solid results. Likewise, India may gain ground thanks to the government’s pilot project to implement artificial intelligence in agriculture and health sectors. The rest of Asia Pacific countries like Bangladesh, Vietnam, and Indonesia are also expected to grow at a good rate.
Globally, artificial intelligence vendors have implemented various types of organic and inorganic growth strategies, such as new product launches, product upgrades, alliances and affiliations, mergers and acquisitions to strengthen their offerings on the market. The leading companies in the global artificial intelligence market are Google Inc., IBM Corp., Microsoft Corporation, Baidu Inc., Xilinx, Inc., Cisco Systems, Inc., Nvidia Corporation and Intel Corporation.
Although the novel coronavirus epidemic pandemic has had a massive impact on businesses and humanity. However, the pandemic appeared as an opportunity for Artificial Intelligence Market to fight against the epidemic. Many tech giants and startups are working to prevent mitigation and containment of the virus. In addition, the COVID-19 outbreak is expected to stimulate the germination in the market of next-generation technological fields, including artificial intelligence, due to the mandatory work-from-home (WFH) policy due to this pandemic.
Additionally, technology companies are expanding their product offerings and support to expand availability across the globe. For example, in april 2020, Google LLC has launched an AI-enabled chatbot called Rapid Response Virtual Agent for call centers. This chatbot is created to address concerns that customers might encounter due to the COVID-19 outbreak on voice, chat, and other social channels.
- Google Inc.
- IBM Corp.
- Microsoft Corporation
- Baidu inc.
- Xilinx, Inc.
- Cisco Systems, Inc.
- Nvidia Company
- Intel company
Key topics covered
2. Research methodology
3. Executive summary
4. Market dynamics
4.1 Growth drivers
5. Global Artificial Intelligence Market
6. Market share
6.1 By solution
6.2 By technology
6.3 By Chip type
6.4 By region
7. Solution – Global Artificial Intelligence Market
8. Technology – Global Artificial Intelligence Market
8.1 Machine learning
8.2 Natural language processing
8.3 Image processing
8.4 Speech recognition
9. Chip Type – Global Artificial Intelligence Market
9.1 Graphics processing unit (GPU)
9.2 Application-specific integrated circuit (ASIC)
9.3 Field Programmable Door Array (FPGA)
9.4 Central processing unit (CPU)
10. Region – Global Artificial Intelligence Market
10.1 North America
10.3 Asia Pacific
10.4 Latin America
10.5 Middle East and Africa
11. Business analysis
11.2 Recent developments
11.3 Financial overview
For more information on this report, visit https://www.researchandmarkets.com/r/t17x32
Research and markets
Laura Wood, senior
For EST office hours, call + 1-917-300-0470
For USA / CAN call toll free + 1-800-526-8630
For GMT office hours, call + 353-1-416-8900
US Fax: 646-607-1904
Fax (outside the United States): + 353-1-481-1716
SOURCE Research and Markets