Artificial Intelligence Market Share, Development, Key Opportunity, Application and Forecast

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An increase in the adoption of big data and an increase in the adoption of cloud-based services will propel the market demand

VANCOUVER, BC, CANADA, April 11, 2022 /EINPresswire.com/ — The global artificial intelligence market is expected to reach $348.99 billion by 2027, according to a new report from Emergen Research. The growing need to understand consumer needs and market trends is one of the major drivers of market growth. Moreover, the massive adoption of smartphones, along with the popularity of social media, will also boost the market growth in the coming years.

One of the notable characteristics of AI is the ability and support it provides for machines to react, act, learn and think like human beings. Due to the mentioned features, it proves to be an effective decision-making and data analysis tool that helps to decide based on past data and identified patterns. These are the mentioned characteristics of AI, which have led to an increase in different industries that are positively impacting the growth of the market.

The growing adoption of cloud-based solutions makes the integration of artificial intelligence (AI) services simple and effective. Cloud technology provides the information and support required for the learning process of AI, which has a positive impact on the growth of the market. In various end-user industries, there has been a high demand for cognitive computing, which also acts as a driving factor for the expansion of the market.

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The report examines in detail the growth opportunities, challenges, market drivers and restraints, limitations, threats and demands of the Artificial Intelligence market. The study further assesses the regional market as well as the international market to get an insight into the scope of the market. The report also offers estimates and forecasts on the market segment and sub-segments showing promising growth in the forecast timeline. The report also provides deeper insights into the technological advancements, industrial landscape, and emerging product and technological developments in the Artificial Intelligence market. It offers fruitful business insights to help companies capitalize on lucrative growth opportunities.

The report further offers comprehensive SWOT analysis and Porter’s Five Forces analysis to offer a better understanding of the competitive landscape of the industry. It also covers the strategies adopted by prominent players such as mergers and acquisitions, collaborations, joint ventures, product launches and brand promotions, among others. The report aims to provide readers with a comprehensive understanding of the relevant characteristics of the industry.

Key Players profiled in the report are:

Samsung Electronics, Intel, Xilinx, NVIDIA, IBM, Micron Technology, Microsoft, Amazon Web Services (AWS), Google, and Facebook, among others.

Additionally, the report provides a comprehensive overview of the Artificial Intelligence market along with the product portfolio and market performance. The report offers key insights on market share, supply chain analysis, supply and demand ratio, import/export details, and product and consumption patterns. For better understanding, the report is further segmented into sections such as product types offered by the market, application spectrum, companies, and key geographical regions where the market has established its presence.

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The analysis of the segments and their growth projection is carried out by historical and current in-depth analysis of the market scenario. Additionally, the report provides details about the Artificial Intelligence market factors and characteristics that are expected to drive the growth of the industry in the coming years.

For the purposes of this report, Emergen Research has segmented the global artificial intelligence market on the basis of supply, technology, end-user industry, and region:

Supply Outlook (Revenue, USD Billion; 2017-2027)
Material

processors

Memory

Network

Software

AI platforms

AI Solutions

Services

Deployment and integration

Support & Maintenance

Technology Outlook (Revenue, USD Billion; 2017-2027)
machine learning

deep learning

Supervised teaching

Unsupervised learning

Reinforcement learning

Generative adversarial networks (GANS)

Others

Natural Language Processing (NLP)

Contextual Computing

computer vision

End User Industry Outlook (Revenue, USD Billion; 2017-2027)

Health care

Manufacturing

Agriculture

Automotive

Retail

Human ressources

Security

Marketing

Construction

Straight

fintech

Aerospace

Defense

Supply chain

Food and drink

Media and Entertainment

Games

Telecommunications

oil and gas

Key questions answered by the report:

What is the Artificial Intelligence market growth rate? What is the anticipated market valuation of the artificial intelligence industry by 2028?

What are the key growth drivers and restraining factors in the Artificial Intelligence market?

Who are the major players operating in the market? What are the main strategies adopted by these companies?

What are the key opportunities and growth prospects for the Artificial Intelligence industry over the forecast period?

Which region is expected to show significant growth in the coming years?

Some highlights of the report
Machine learning comes with a wide range of applications in multiple industries, such as banking and finance, healthcare, retail, publishing, and social media, among others. It is used to analyze the relevance of advertisements and content based on user preferences. It held a 32.6% market share in 2019.

The revenue generated by the software segment is the result of the extensive use of these tools in analyzing hidden data sets and data patterns from large data sheets.

Artificial intelligence can help reduce construction costs in several ways. For example, the use of virtual reality glasses and mini-robots in buildings under construction to monitor the progress of work. AI is also used today to design the routing of electrical and plumbing systems in modern buildings. Artificial intelligence is also beneficial for the development of safety systems on construction sites, which reduces the risk of hazards and accidents.

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At Emergen Research, we believe in advancing with technology. We are a growing market research and strategy consulting firm with an extensive knowledge base on cutting-edge and potentially market-disrupting technologies that are expected to become more prevalent over the next decade.

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