Artificial Intelligence Market Size and Forecast by 2024

Artificial intelligence is a fast emerging technology, dealing with development and study of intelligent machines and software. This software is being used across various applications such as manufacturing (assembly line robots), medical research, and speech recognition systems. It also enables in-build software or machines to operate like human beings, thereby allowing devices to collect, analyze data, reason, talk, make decisions and act The global artificial intelligence market was valued at US$ 126.24 Bn in 2015 and is forecast to grow at a CAGR of 36.1% from 2016 to 2024 to reach a value of US$ 3,061.35 Bn in 2024.

The global artificial intelligence market is currently witnessing healthy growth as companies have started leveraging the benefits of such disruptive technologies for effective customer reach and positioning of their services/solutions. Market growth is also supported by an expanding application base of artificial intelligence solutions across various industries. However, factors such as low funding access or high upfront investment, and demand for skilled resources (workforce) are presently acting as major deterrents to market growth.

On the basis of types of artificial intelligence systems, the market is segmented into artificial neural network, digital assistance system, embedded system, expert system, and automated robotic system. Expert system was the most adopted or revenue generating segment in 2015. This was mainly due to the extensive use of artificial intelligence across various sectors including diagnosis, process control, design, monitoring, scheduling and planning.

Based on various applications of artificial intelligence systems, the market has been classified into deep learning, smart robots, image recognition, digital personal assistant, querying method, language processing, gesture control, video analysis, speech recognition, context aware processing, and cyber security. Image recognition is projected to be the fastest growing segment by application in the global artificial intelligence market. This is due to the growing demand for affective computing technology across various end-use sectors for better study of systems that can recognize, analyze, process, and simulate human effects.

North America was the leader in the global artificial intelligence market in 2015, holding approximately 38% of the global market revenue share, and is expected to remain dominant throughout the forecast period from 2016 to 2024. High government funding and a strong technological base have been some of the major factors responsible for the top position of the North America region in the artificial intelligence market over the past few years. Middle East and Africa is expected to grow at the highest CAGR of 38.2% throughout the forecast period. This is mainly attributed to enormous opportunities for artificial intelligence in the MEA region in terms of new airport developments and various technological innovations including robotic automation.

The key market players profiled in this report include QlikTech International AB, MicroStrategy Inc., IBM Corporation, Google, Inc., Brighterion Inc., Microsoft Corporation, IntelliResponse Systems Inc., Next IT Corporation, Nuance Communications, and eGain Corporation.

Chapter 1 Preface 1.1 Research Scope 1.2 Market Segmentation 1.3 Research Methodology

Chapter 2 Executive Summary 2.1 Market Snapshot: Global Artificial Intelligence Market, 2015 & 2024 2.2 Global Artificial Intelligence Market Revenue, 2014 2024 (US$ Bn) and CAGR (%)

Chapter 3 Global Artificial Intelligence Market Analysis 3.1 Key Trends Analysis 3.2 Market Dynamics 3.2.1 Drivers 3.2.2 Restraints 3.2.3 Opportunities 3.3 Value Chain Analysis 3.4 Global Artificial Intelligence Market Analysis, By Types 3.4.1 Overview 3.4.2 Artificial Neural Network 3.4.3 Digital Assistance System 3.4.4 Embedded System 3.4.5 Expert System 3.4.6 Automated Robotic System 3.5 Global Artificial Intelligence Market Analysis, By Application 3.5.1 Overview 3.5.2 Deep Learning 3.5.3 Smart Robots 3.5.4 Image Recognition 3.5.5 Digital Personal Assistant 3.5.6 Querying Method 3.5.7 Language Processing 3.5.8 Gesture Control 3.5.9 Video Analysis 3.5.10 Speech Recognition 3.5.11 Context Aware Processing 3.5.12 Cyber Security 3.6 Competitive Landscape 3.6.1 Market Positioning of Key Players in Artificial Intelligence Market (2015) 3.6.2 Competitive Strategies Adopted by Leading Players

Chapter 4 North America Artificial Intelligence Market Analysis 4.1 Overview 4.3 North America Artificial Intelligence Market Analysis, by Types 4.3.1 North America Artificial Intelligence Market Share Analysis, by Types, 2015 & 2024 (%) 4.4 North America Artificial Intelligence Market Analysis, By Application 4.4.1 North America Artificial Intelligence Market Share Analysis, by Application, 2015 & 2024 (%) 4.5 North America Artificial Intelligence Market Analysis, by Region 4.5.1 North America Artificial Intelligence Market Share Analysis, by Region, 2015 & 2024 (%)

Chapter 5 Europe Artificial Intelligence Market Analysis 5.1 Overview 5.3 Europe Artificial Intelligence Market Analysis, by Types 5.3.1 Europe Artificial Intelligence Market Share Analysis, by Types, 2015 & 2024 (%) 5.4 Europe Artificial Intelligence Market Analysis, By Application 5.4.1 Europe Artificial Intelligence Market Share Analysis, by Application, 2015 & 2024 (%) 5.5 Europe Artificial Intelligence Market Analysis, by Region 5.5.1 Europe Artificial Intelligence Market Share Analysis, by Region, 2015 & 2024 (%)

Chapter 6 Asia Pacific Artificial Intelligence Market Analysis 6.1 Overview 6.3 Asia Pacific Artificial Intelligence Market Analysis, by Types 6.3.1 Asia Pacific Artificial Intelligence Market Share Analysis, by Types, 2015 & 2024 (%) 6.4 Asia Pacific Artificial Intelligence Market Analysis, By Application 6.4.1 Asia Pacific Artificial Intelligence Market Share Analysis, by Application, 2015 & 2024 (%) 6.5 Asia Pacific Artificial Intelligence Market Analysis, by Region 6.5.1 Asia Pacific Artificial Intelligence Market Share Analysis, by Region, 2015 & 2024 (%)

Chapter 7 Middle East and Africa (MEA) Artificial Intelligence Market Analysis 7.1 Overview 7.3 MEA Artificial Intelligence Market Analysis, by Types 7.3.1 MEA Artificial Intelligence Market Share Analysis, by Types, 2015 & 2024 (%) 7.4 MEA Artificial Intelligence Market Analysis, By Application 7.4.1 MEA Artificial Intelligence Market Share Analysis, by Application, 2015 & 2024 (%) 7.5 MEA Artificial Intelligence Market Analysis, by Region 7.5.1 MEA Artificial Intelligence Market Share Analysis, by Region, 2015 & 2024 (%)

Chapter 8 Latin America Artificial Intelligence Market Analysis 8.1 Overview 8.3 Latin America Artificial Intelligence Market Analysis, by Types 8.3.1 Latin America Artificial Intelligence Market Share Analysis, by Types, 2015 & 2024 (%) 8.4 Latin America Artificial Intelligence Market Analysis, By Application 8.4.1 Latin America Artificial Intelligence Market Share Analysis, by Application, 2015 & 2024 (%) 8.5 Latin America Artificial Intelligence Market Analysis, by Region 8.5.1 Latin America Artificial Intelligence Market Share Analysis, by Region, 2015 & 2024 (%)

Chapter 9 Company Profiles 9.1 QlikTech International AB 9.2 MicroStrategy, Inc. 9.3 IBM Corporation 9.4 Google, Inc. 9.5 Brighterion, Inc. 9.6 Microsoft Corporation 9.7 IntelliResponse Systems Inc. 9.8 Next IT Corporation 9.9 Nuance Communications 9.10 eGain Corporation

The Artificial Intelligence Market report provides analysis of the global artificial intelligence market for the period 20142024, wherein the years from 2016 to 2024 is the forecast period and 2015 is considered as the base year. The report precisely covers all the major trends and technologies playing a major role in the artificial intelligence markets growth over the forecast period. It also highlights the drivers, restraints, and opportunities expected to influence the market growth during this period. The study provides a holistic perspective on the markets growth in terms of revenue (in US$ Bn), across different geographies, which includes Asia Pacific (APAC), Latin America (LATAM), North America, Europe, and Middle East & Africa (MEA).

The market overview section of the report showcases the markets dynamics and trends such as the drivers, restraints, and opportunities that influence the current nature and future status of this market. Moreover, the report provides the overview of various strategies and the winning imperatives of the key players in the artificial intelligence market and analyzes their behavior in the prevailing market dynamics.

The report segments the global artificial intelligence market on the types of artificial intelligence systems into artificial neural network, digital assistance system, embedded system, expert system, and automated robotic system. By application, the market has been classified into deep learning, smart robots, image recognition, digital personal assistant, querying method, language processing, gesture control, video analysis, speech recognition, context aware processing, and cyber security. Thus, the report provides in-depth cross-segment analysis for the artificial intelligence market and classifies it into various levels, thereby providing valuable insights on macro as well as micro level.

The report also provides the competitive landscape for the artificial intelligence market, thereby positioning all the major players according to their geographic presence, market attractiveness and recent key developments. The complete artificial intelligence market estimates are the result of our in-depth secondary research, primary interviews, and in-house expert panel reviews. These market estimates have been analyzed by taking into account the impact of different political, social, economic, technological, and legal factors along with the current market dynamics affecting the artificial intelligence markets growth.

QlikTech International AB, MicroStrategy Inc., IBM Corporation, Google, Inc., Brighterion Inc., Microsoft Corporation, IntelliResponse Systems Inc., Next IT Corporation, Nuance Communications, and eGain Corporation are some of the major players which have been profiled in this study. Details such as financials, business strategies, recent developments, and other such strategic information pertaining to these players has been provided as part of company profiling.