The latest report on Artificial Intelligence Market by Infinium Global Research gives complete coverage of the Artificial Intelligence Market by in terms of key trends, market size, forecast and CAGR growth over the period of 2018 to 2024. In addition, the study covers deep dive into key product and applications trends in the regional markets of Artificial Intelligence such as North America, Europe, Asia-Pacific and Latin America over the short run and long run.
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Growing Adoption of Cloud-Based Applications and Services Drives the Growth of Artificial Intelligence Industry
Artificial intelligence (AI) is a stream of computer science that aims in the creation of intelligent machines that work and responds like humans. Further, artificial intelligence (AI) can be defined as the replication of human intelligence processes by machines such as computer systems. Some of the processes or activities computers with artificial intelligence are designed such as speech recognition, problem-solving, planning, and learning.
Learning process includes the acquisition of information and rules for using the information, while in reasoning it uses rules to reach approximate conclusions with self-correction. Artificial intelligence has become more popular owing to increased data volumes, improvements in computing power and storage and advanced algorithms. Applications of artificial intelligence have made its way into a number of areas such as healthcare, manufacturing, finance, business, education, and law. Other applications of artificial intelligence includes games, intelligent robots, face recognition, missile guidance, handwriting recognition, and natural language processing.
Growing adoption of cloud-based applications and services drives the growth of artificial intelligence market. The major providers of cloud computing now offer cloud-based AI products. Rising demand for analyzing and interpreting the vast amount of data fuels the growth of artificial intelligence market. Artificial intelligence uses algorithms to adapt data that finds structure and regularities in data and analyzes more and deeper data that in turn is increasing the demand of artificial intelligence market.
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Rising Adoption of Artificial Intelligence in Developing Regions and Growing Applications and Developments of Artificial Intelligence
Furthermore, growing demand for intelligent virtual assistants enhance the growth of artificial intelligence market. However, Lack of personnel with technical expertise may hamper the growth of artificial intelligence market. The growing importance of equivalent processing applications is leading to augmented approval of the technology in scientific disciplines such as artificial intelligence and data science. This, in turn, is having a positive impact for the market growth. Moreover, rising adoption of artificial intelligence in developing regions and growing applications and developments of artificial intelligence such as smart robots are expected to provide beneficial opportunities for the artificial intelligence market.
Among the geographies, North America dominates the artificial intelligence market owing to huge investment regarding advance technologies of artificial intelligence. Increasing adoption of advance technology and presence of major players in North America region is expected to boost the growth of artificial intelligence market. Adoption of cloud-based services in countries, such as the U.S. and Canada, is expressively contributing to the growth in the North American region. Artificial intelligence market is expected to grow in Europe region owing to increasing use of cloud-based services. Furthermore, many public and private administrations have been assembling domain-specific information containing issues such as cybersecurity, medical informatics, marketing, fraud detection, and national intelligence in the European region.
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- Comprehensive analysis of global as well as regional markets of the Artificial Intelligence.
- Complete coverage of all the product type and applications segments to analyze the trends, developments, and forecast of market size up to 2024.
- Comprehensive analysis of the companies operating in this market. The company profile includes analysis of product portfolio, revenue, SWOT analysis and the latest developments of the company.
- Infinium Global Research- Growth Matrix presents an analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.