Lucintel’s latest market report analyzed that artificial intelligence provides attractive opportunities in the healthcare, security, retail, automotive, manufacturing, and financial technology (fintech) sectors. The artificial intelligence market is expected to reach $115 billion by 2027 with a CAGR of 23.5%. In this market, machine learning technology is the largest segment by technology, whereas media and advertising is largest by end use industry. The growing adoption of artificial intelligence in IoT applications and increasing demand for AI-enabled processors provides strategic growth path in this market.
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Based on technology, the artificial intelligence market is segmented into machine learning, natural learning processing, and others. The machine learning segment is accounted for the largest share of the market in 2021 and witness the highest growth in the forecast period due to increasing adoption of this technology in the autonomous applications and growing consumer preference for IoT-enabled devices.
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89 – Tables
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The artificial intelligence market is marked by the presence of several big and small players. Some of the prominent players offering artificial intelligence include Intel, IBM, Amazon, Facebook, NVIDIA, Apple, Microsoft, General Electric, and NEC Corporation.
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