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Artificial Intelligence (AI) - Global Market Trajectory & Analytics

  • ID: 1056044
  • Report
  • April 2021
  • Region: Global
  • Global Industry Analysts, Inc

FEATURED COMPANIES

  • Accenture
  • ByteDance Ltd
  • Esri
  • Inspur
  • NetEase Fuxi Lab
  • Oracle Corporation
The World is Moving Towards Truly Intelligent Machines & Systems. Artificial Intelligence to Reach $312.4 Billion

The global market for Artificial Intelligence (AI) is projected to reach US$312.4 billion by the year 2027, trailing a post COVID-19 CAGR of 32.7% over the analysis period 2020 through 2027. Globally, over 567 AI start-up companies received investments in the first five months of the year 2020. Use of AI in myriad fields has skyrocketed during the pandemic, with the unpreceded crisis driving desperate search for new tools to manage and survive the pandemic. AI is being used for early detection, diagnosis of the infection; development of drugs, vaccines; and for reducing workload of healthcare workers. Artificial intelligence (AI) has emerged as a powerful tool in the war against COVID-19. The predictive technology is being exploited by governments and other stakeholders to determine the way the COVID-19 virus is spreading, identify vulnerable people and finding mutation patterns. Various universities and institutions are deploying AI systems and expediting their finalization for tapping them as crucial tool for handling the pandemic. In addition, several local and national governments have announced dedicated teams for assessing AI-powered anti-COVID-19 projects. The rapid spread of the virus has expedited AI-based initiatives intended to track patients along with potentially affected individuals. While the approach requires localization data of citizens to assess their infection risk, it compromises the right to privacy and freedom. These initiatives also focus on detecting symptoms along with primary care for patients.

Questionnaires completed by people can be analyzed by AI systems to reduce the workload on healthcare system. The main approaches under the initiative include interactive voice response tools, chat bots for self-triage of patients, image-driven medical diagnosis, forecast of the virus' impact on the basis of symptoms, and monitoring of transportation means and public areas for non-compliance to public rules. The technology is also used to hinder fake news and predict the spread of the pandemic over space and time. While AI tools are expected to play an important role during the pandemic, they may result in privacy issues, requiring authorities to come up with measures for mitigating these concerns. Machine learning (ML) algorithms and artificial intelligence (AI) have been in use in healthcare and clinical settings for years rendering support to various processes and procedures, and the ongoing novel coronavirus (COVID-19) pandemic has further stressed the importance of ML and AI technologies in healthcare sector. Both ML and AI are gaining traction in processes and procedures being implemented to combat and control COVID-19 pandemic. The World Health Organization (WHO) has already acknowledged the relevance of AI and big data in aiding healthcare professionals responding to the COVID-19 outbreak in China and other parts of the world. Data processing platforms, mobile apps, thermal cameras, and robotic equipment are some of the areas where AI-enabled technologies are gaining importance in COVID-19 programs.

AI is also helping companies carryout remote working, operations and management while simultaneously improving operational efficiency. Rapid improvements in AI technology are driving increased adoption of AI-based customer service systems. AI coupled with predictive analytics is set to help retailers identify buying trends and quickly launch automated campaigns that will inspire highly targeted customers to act. Most of the healthcare organizations are relying on AI-based software for their day-to-day tasks. These tasks vary from patient diagnosis to hospital data management. Since the amount of data generated by the healthcare industry is 44 trillion gigabytes per day, there emerges a need for AI-based advanced processors that can extract meaningful insights from this data. With COVID-19 becoming a global crisis, AI became the first line of defense in using it to keep track of virus transmission. In this unprecedented situation, AI helps to reduce the work of clinicians and medical attendants. Many banks have already adopted AI-based systems to provide customer support, detect anomalies and credit card frauds. AI solutions can be used to trace card usage and endpoint access to effectively prevent fraud and save millions of dollars. Organizations rely on AI to trace those steps by analyzing the behaviors of transactions. For instance, major companies such as MasterCard and RBS World Pay have relied on AI and Deep Learning to detect fraudulent transaction patterns and prevent card fraud for years. In the age of ultra-high-frequency trading, financial organizations are turning to AI to improve their stock trading performance and boost profit. Advances in the autonomous vehicle segment such as long-range radar, cameras, and LIDAR leverage AI to provide actionable insights.

Select Competitors (Total 208 Featured):
  • Accenture
  • AIBrain, Inc.
  • Amazon Web Services
  • Baidu, Inc.
  • BIGO Technology
  • ByteDance Ltd
  • Cisco Systems, Inc.
  • CloudMinds
  • Dell Technologies
  • eGain Corporation
  • Esri
  • Facebook, Inc.
  • General Electric Company
  • Google, Inc.
  • Habana Labs Ltd
  • Inspur
  • Intel Corporation
  • International Business Machines Corporation (IBM)
  • IPsoft Inc
  • Micron Technology, Inc.
  • Microsoft Corporation
  • Mobileye, an Intel Company
  • NetEase Fuxi Lab
  • NetEase, Inc
  • Next IT Corporation
  • NICE inContact
  • Nuance Communications, Inc.
  • NVIDIA Corporation
  • Omron Robotics and Safety Technologies, Inc
  • Oracle Corporation
  • Rockwell Automation, Inc.
  • Salesforce.com, inc.
  • Samsung Electronics Co., Ltd.
  • SAP SE
  • SAS Institute Inc.
  • Siemens AG
  • Smartron India Private Limited
  • The Hewlett-Packard Company
  • Trifo
  • Xilinx, Inc.
Note: Product cover images may vary from those shown

FEATURED COMPANIES

  • Accenture
  • ByteDance Ltd
  • Esri
  • Inspur
  • NetEase Fuxi Lab
  • Oracle Corporation
I. METHODOLOGY

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW
  • Influencer Market Insights
  • World Market Trajectories
  • Impact of Covid-19 and a Looming Global Recession
  • Artificial Intelligence Makes Significant Contribution in War against COVID-19
  • Machine Learning Benefits Healthcare Organizations
  • Industrial and Commercial Applications Take a Hit as COVID-19 Evolves Into an Economic Crisis
  • Exhibit 1: World Economic Growth Projections (Real GDP, annual % Change) for 2019, 2020 & 2021
  • Exhibit 2: Global PMI Index Points for the Years 2018, 2019 & 2020
  • Exhibit 3: Business Confidence Index (BCI) Points for 3Q 2019, 4Q 2019, 1Q 2020, & 2Q 2020
  • Artificial intelligence (AI): A Prelude
  • Technologies Enabling AI
  • Outlook
  • Advances in Real World AI Applications Bolster Growth
  • Inherent Advantages of AI Technology to Accelerate Adoption in Varied Applications
  • AI-based Services Segment Captures Major Share of Global AI Market
  • Developed Markets Dominate AI Market, Asia-Pacific to Spearhead Future Growth
  • Deep Learning and Digital Assistant Technologies Present Significant Growth Potential
  • Challenges Restraining AI Adoption
  • Competition
  • AI Marketplace Characterized by Intense Competition
  • Exhibit 4: Global Artificial Intelligence Market by Leading Vendors for 2019
  • Growing Focus on AI by Leading Tech Companies with Huge Financial Resources
  • Investors Flock to Fund AI Startups: An Indication to the High Potential of AI Technology
  • Exhibit 5: Global AI Startup Funding (in US$ Million) for the Years 2014 through 2019
  • Exhibit 6: Number of AI Startups with $1 Billion Valuations for the Years 2014-2019
  • Exhibit 7: AI Cumulative Funding (in US$ Billion) by Category (As of 2019)
  • AI Applications and Major Startups
  • Select Companies Raising AI Investments in 2020
  • World Brands
  • Recent Market Activity
2. FOCUS ON SELECT PLAYERS

3. MARKET TRENDS & DRIVERS
  • AI-enabled Analysis and Forecasts Aid Organizations Make ProfiTable Decisions
  • AI-Powered Biometric Security Solutions
  • New and Improved Concepts in ML and AI take Stage
  • IIoT & AI Convergence Brings in Improved Efficiencies
  • Increasing Adoption of AI Technology to Boost AI Chipsets Market
  • Combination of Robotics and AI Set to Cause Significant Disruption in Various Industries
  • AI in Customer-Centric Operations Gain Momentum
  • AI Innovations Widen Prospects
  • NoTable Trends in the Artificial Intelligence Market
  • Big Data Trends to Shape Future of Artificial Intelligence
  • AI Exudes Potential to Mitigate Adversities Amid COVID-19
  • AI in Retail Market: Multi-Channel Retailing and e-Commerce Favor Segment Growth
  • AI for a Competitive Edge for Retail Organizations
  • Online Retailers Eye on Artificial Intelligence to Boost Business in Post-COVID-19 Era
  • AI & Analytics Help Retailers Survive Economic & Operational Implications of COVID-19
  • AI for Fashion Retail and Beauty
  • AI for Grocery, Electronics, and Home & Furniture
  • E-Commerce: A Sector with Tremendous Potential for AI Technology
  • Financial Sector: AI and Machine Learning Offer Numerous Gains
  • Fintech Deploys AI to Target Millennials
  • AI in Media & Advertising: Targeting Customers with Right Marketing Content
  • COVID-19 Impacts Advertising Industry, Affects AI Investments
  • Exhibit 8: COVID-19 Impact on Global Ad Spending: March 2020
  • Possibilities Galore for AI in Digital Marketing
  • Marketing Functions Where AI is Yet Impossible to Deploy
  • AI-Enabled CRM Market: Promising Growth Opportunities in Store
  • Artificial Intelligence to Transform Delivery of Healthcare Services
  • Healthcare AI Market to Experience Remarkable Expansion
  • Exhibit 9: Global Healthcare AI Market - Percentage Breakdown by Application for 2020
  • Exhibit 10: Worldwide Current & Required Healthcare Spending as % of GDP
  • AI in Medical Diagnostics and Pharmaceutical Sectors
  • COVID-19 Spurs New Developments and Expedites AI Adoption in Healthcare Industry
  • Developments Impacting AI in Healthcare Domain
  • Artificial Intelligence Holds Potential to Accelerate Detection & Treatment of COVID-19
  • Detecting Personalized Therapeutic Targets
  • Rising Prevalence of Diabetes to Drive AI Adoption in Diabetes Management Market
  • Exhibit 11: World Diabetes Prevalence (2000-2019)
  • Barriers Restraining AI Adoption in Healthcare Sector
  • Automotive AI Market: Need to Enhance Customer Experience and Increasing Focus on Autonomous Vehicles Propels Growth
  • Exhibit 12: Automotive AI Market By Segment
  • Slowdown in Automobile Production Hit AI Investments in Auto Sector
  • Exhibit 13: Automobile Production % YoY Change Across Select Countries: 2020 Vs 2019
  • Exhibit 14: Reduction in Automotive Demand in 2020 (In Million Vehicles)
  • Exhibit 15: World Automobile Production in Million Units: 2008-2022
  • COVID-19 Outbreak to Speed up Digitalization & Automation in Automotive Sector
  • Driverless Cars: The Ultimate Future of AI in Auto industry
  • Automakers Focus on Integrating AI-Powered Driver Assist Features in Vehicles
  • AI to Enhance Connectivity, Provide Infotainment and Enhance Safety in Vehicles
  • AI for Smart Insurance Risk Assessment of Vehicles
  • Artificial Intelligence to Transform and Redraw Manufacturing Landscape
  • Slump in Manufacturing Industry Impacts AI Investments
  • Exhibit 16: Global PMI Index Points for the Years 2018, 2019 & 2020
  • Exhibit 17: Global Industrial Output Growth (In %) Dec to May 2020 by Country
  • Industrial IoT, Robotics and Big Data to Stimulate AI Implementations
  • Exhibit : Global Investments on Industry 4.0 Technologies (in US$ Billion) for the Years 2017, 2020, & 2023
  • AI Moves from Factory Floor to Supply Chain and Beyond
  • Machine Learning: Growing Role in Smart Manufacturing
  • AI as a Service Market: Obviating the Need to Make Huge Initial Investments
  • AI in Education Market to Exhibit Strong Growth
  • Exhibit 18: Global Market for AI in Healthcare Sector (2019): Percentage Breakdown of Revenues by End-Use - Higher Education and K-12 Sectors
  • Focus on ITS, IAL and Chatbots Favors Market Growth
  • Agriculture Sector: A Promising Market for AI Implementations
  • AI Technologies Used in Agricultural Activities - A Review
  • AI Poised to Create Smarter Agriculture Practices in Post-COVID-19 Period
  • Food & Beverage Industry to Leverage AI Capabilities to Resolve Production Issues and Match Up to Customer Expectations
  • AI Adoption Gains Acceptance in Modern Warfare Systems in the Defense Sector
  • Energy & Utilities: Complex Landscape and High Risk of Malfunctions Enhances Need for AI-based Systems
  • COVID-19 Raises Demand for AI Technologies in Oil & Gas Sector
  • AI in Construction Sector: Need for Cost Reduction and Safety at Construction Sites Drive Focus onto the Use of AI-based Solutions
  • AI Contributing in Sustaining Critical Infrastructure Amid COVID-19
4. GLOBAL MARKET PERSPECTIVE

III. MARKET ANALYSIS
  • UNITED STATES
  • Artificial Intelligence Market: An Overview
  • Healthcare: A Promising Application Market for AI Technology
  • Funding for AI Startups in the US Continues to Grow
  • Exhibit 19: AI Funding in the US: VC Deal Value (in $ Billion) and Number of Deals in AI and ML Technologies for 2011 through Q1 2020
  • Exhibit 20: Leading Artificial Intelligence Startups by Total Equity Funding ($ Million) in the US (As of Q1 2020)
  • Regulatory Support for AI
  • CANADA
  • Market Overview
  • Top-Tier Canadian Cities Primed for AI Growth
  • Exhibit 21: Funding in Artificial Intelligence (AI) Companies (in US Million) in Canada for the Years 2014-2019
  • JAPAN
  • Market Overview
  • CHINA
  • China: A Breeding Ground for AI Innovations
  • A Vast Talent Pool: Advantage China!
  • Government Support and Increasing Venture Capital Funding
  • China Continues Investments into AI Startups
  • Exhibit 22: Chinese AI Market: Funding for AI Startups (in $ Million) for the Period Q1 2017 through Q2 2020
  • Exhibit 23: Leading Chinese AI Startups by Equity Funding (in $ Million) as of April 2020
  • Ambitious AI Development Plan
  • Future Prospects
  • China’s AI Plans Click into High Gear
  • Tech Giants Enter the AI Ring
  • EUROPE
  • EU Aims at Improving Competitiveness in Global AI Market
  • Market Analytics
  • FRANCE
  • GERMANY
  • ITALY
  • UNITED KINGDOM
  • Market Overview
  • SPAIN
  • RUSSIA
  • REST OF EUROPE
  • ASIA-PACIFIC
  • INDIA
  • Market Overview
  • Market Overview
  • SOUTH KOREA
  • REST OF ASIA-PACIFIC
  • REST OF WORLD
  • Market Overview
IV. COMPETITION
  • Total Companies Profiled: 208
Note: Product cover images may vary from those shown
  • Accenture
  • AIBrain, Inc.
  • Amazon Web Services
  • Baidu, Inc.
  • BIGO Technology
  • ByteDance Ltd
  • Cisco Systems, Inc.
  • CloudMinds
  • Dell Technologies
  • eGain Corporation
  • Esri
  • Facebook, Inc.
  • General Electric Company
  • Google, Inc.
  • Habana Labs Ltd
  • Inspur
  • Intel Corporation
  • International Business Machines Corporation (IBM)
  • IPsoft Inc
  • Micron Technology, Inc.
  • Microsoft Corporation
  • Mobileye, an Intel Company
  • NetEase Fuxi Lab
  • NetEase, Inc
  • Next IT Corporation
  • NICE inContact
  • Nuance Communications, Inc.
  • NVIDIA Corporation
  • Omron Robotics and Safety Technologies, Inc
  • Oracle Corporation
  • Rockwell Automation, Inc.
  • Salesforce.com, inc.
  • Samsung Electronics Co. Ltd.
  • SAP SE
  • SAS Institute Inc.
  • Siemens AG
  • Smartron India Private Limited
  • The Hewlett-Packard Company
  • Trifo
  • Xilinx, Inc.
Note: Product cover images may vary from those shown
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