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The artificial intelligence market is expected to grow at a fast pace and will approach nearly 50% CAGR.
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Artificial Intelligence Market Global Opportunity Analysis and Industry Forecast, 2019-2023
Artificial Intelligence Market Overview • Artificial Intelligence has the potential to change the world around us by modernizing the way we communicate, work, and conduct our daily life. The market is expected to grow at a fast pace and will approach nearly 50% CAGR. Most of the leading players are adopting artificial intelligence technology to extract valuable insights from data for developing innovative products, implement artificial intelligence in services, and improve customer experience. The demand for artificial intelligence technology is growing rapidly due to its complex, data-driven applications such as voice and image recognition. The artificial intelligence market is segmented into system type, services, and application • The major growth driver of the artificial intelligence market includes growing demand for AI in sectors such as media & advertising and financial, growing need for improving productivity by the organization to increase customer satisfaction, and rising IOT sector among others.
Algorithms like deep learning and its hierarchical pattern recognition are driving the adoption of AI. Software such as RStudio and Sentient was the first to adopt artificial intelligence. Adoption of AI in hardware is most significant factor boosting market growth. • Organizations are adopting artificial intelligence technology to extract valuable insights from data for developing innovative products and improving customer experience. • However, lack of expertise and high initial cost are some of the major factors hindering the growth of artificial intelligence market. Read More at: https://www.marketresearchfuture.com/reports/artificial-intelligence-market-1139
Market Segmentation • On the basis of system type, the market is segmented into artificial neural networks, digital assistant system, automotive robotics system, and embedded system. • On the basis of services, the market is segmented into speech recognition, gesture control, robots, and language processing among others. • On the basis of application, the market is segmented into education, oil & gas, automotive, healthcare, media and entertainment, and aerospace among others. Get the sample copy @ https://www.marketresearchfuture.com/sample_request/1139
Detailed Regional Analysis • North America is dominating the global artificial intelligence market with the largest market share and therefore accounting for the highest revenue amounts. This market is expected to grow due to various factors such as growing use of artificial intelligence in aviation, defense and financial sector of the North American region. • Europe holds the second position in the global artificial intelligence market due to the growing demands for artificial intelligence such as fast and easy document control and on-demand access to data. • Asia Pacific region, with the higher presence of smartphone manufacturers and semiconductor industries, is expected to grow at a fast pace. Countries like China, Taiwan, and South Korea, hold near about 80% of the global smartphone manufacturers, and most of them carry a huge opportunity for artificial intelligence market.
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