Artificial Intelligence Platform Market accounted for USD 2.34 billion and is projected to grow at a CAGR of 31.2% the forecast period of 2020 to 2025. Artificial Intelligence (AI) is a creation of wise and smart machines that work, respond and react like people. It is utilized to enhance the proficiency of day by day undertakings.
Advancing innovation, selection of robots and drones, driverless tractors, crop health checking, and automated water system framework are a part of the applications that credited to the high development of the global artificial intelligence in agriculture (AIA) showcase. Highly proficient yield examination is offered by drones and software programming advancements, for example, radars and GPS framework, empower to reduce weight on existing stressed workforce. In addition, remote detection systems are also used to view the quality and yield creating capacity of a farming area.
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Key Players: Global Artificial Intelligence Platform Market
The renowned players in the global artificial intelligence platform market are Welltok, Inc., Intel Corporation, Nvidia Corporation, Google Inc., IBM Corporation, Microsoft Corporation, General Vision, Enlitic, Inc., Next IT Corporation, iCarbonX, Amazon Web Services, Apple, Facebook Inc., Siemens, General Electric, Micron Technology, Samsung, Xillinx, Iteris, Atomwise, Inc., Lifegraph, Sense.ly, Inc., Zebra Medical Vision, Inc., Baidu, Inc., H2O ai, Enlitic, Inc. and Raven Industries.
Market Segmentation: Global Artificial Intelligence Platform Market
The global artificial intelligence platform market is based on component, deployment mode, application, end-user, and geographical segments.
- Based on component, the global artificial intelligence platform market can be segmented into tools and services. Tools can be further sub segmented into NLP (Natural Language Processing) and ML (Machine Language). Services can be further sub segmented into managed and professional.
- Based on deployment mode, the global artificial intelligence platform market can be segmented into cloud and on-premises.
- Based on application, the global artificial intelligence platform market can be segmented into forecasts and prescriptive models, chat-bots, speech recognition, text recognition, and others (face detection and sentiment analysis).
- Based on end user, the global artificial intelligence platform market can be segmented into manufacturing, healthcare, BFSI, research and academia, transportation, retail and e-commerce, and others (oil and gas, and advertising).
Competitive Analysis: Global Artificial Intelligence Platform Market
The global artificial intelligence platform market is fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market in order to sustain in long run. The report includes market shares of artificial intelligence platform market for global, Europe, North America, Asia Pacific and South America.
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Market Drivers and Restraints:
- High Information and data storage capacity
- High computing power and parallel processing capabilities.
- Increasing number of AI applications and adoption of these applications in various segments.
- Lack of people power
- Data inefficiency in building proper AI algorithms.
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