Fortune Business Insights offers expert corporate analysis and accurate data, which helps organizations of all sizes make timely decisions. They recently published a report, titled, “Artificial Intelligence (AI) Market Size, Share and Industry Analysis By Component(Hardware, Software, Services), By Technology ( Computer Vision, Machine Learning, Natural Language Processing, Others), By Industry Vertical (BFSI, Healthcare, Manufacturing, Retail, IT & Telecom, Government, Others) and Regional Forecasts, 2019-2026.
The report states that the global AI market will flourish due to an increase in the utilization of cloud-based services and applications worldwide. Furthermore, the report claims a CAGR of 31% during the forecast period, as global AI market size increases from USD 20.67 billion in 2018 to USD 202.57 billion by 2026.
Key companies covered in this report are Baidu, Alphabet(Google Inc.), Verint Systems Inc. (Next IT Corp), NVIDIA, Apple Inc., IBM Corporation, MicroStrategy, Qlik Technologies Inc., Microsoft Corporation, IPsoft., among others.
Highlights of the Report are as follows:
- Profiles of prominent firms operating in the market.
- In-depth analysis of strategies adopted by these firms to give the client a better understanding of the market’s competitive scenario.
- Thorough research on AI-based product positioning.
- Elaborate information on current and emerging market dynamics, growth drivers, trends, and obstacles.
Impact of COVID-19
Almost every sector is struggling to survive during the pandemic. Fortune Business Insights aims to offer an impact analysis of COVID-19 outbreak across the industry to help prepare them for the future.
Drivers & Restraints
Various organizations are developing and supply AI-powered industrial robots as they are a vital driver of AI market growth.
Segment
The market constitutes NLP, ML, and computer vision in terms of technology. Currently, the NLP segment is most widely adopted for various applications.
Regional Analysis
There has been a massive increase in the adoption of AI by a large number of biopharmaceutical companies.
Competitive Landscape
The key players are mainly focusing on investing in the development of new products to strengthen the position. Start-ups are resorting to the strategy of mergers and acquisitions.
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