(MENAFN- EIN Presswire) The global Artificial Intelligence (AI) & advanced Machine Learning (ML) market size is expected to reach USD 471.39 Billion at a steady CAGR of 35.2% in 2028
SURREY, BRITISH COLUMBIA, CANADA, November 17, 2021 /EINPresswire.com / — The global Artificial Intelligence (AI) & advanced Machine Learning (ML) market size is expected to reach USD 471.39 Billion at a steady CAGR of 35.2% in 2028, according to latest analysis by Emergen Research. Machine Learning is a type of AI, which enables computers to learn without being initially programmed Artificial Intelligence and Machine Learning are used to improve efficiently in manufacturing industry. Artificial Intelligence enables more productivity, while also ensuring facilities are environment friendly. Artificial Intelligence with advanced ML helps in connecting companies to track and interact with consumers through cost-effective and effortless automated mechanisms. Rapid digitalization is another significant driving factor supporting.
The global Artificial intelligence and Advanced Machine Learning market is highly consolidated due to the presence of a large number of companies across this industry .The app uses ML to predict patients who are contemplating suicide. Rise in demand for digitalization in transportation, in hospitality and travel industries for hotel bookings and travel, and in healthcare sector in various economies across the globe has been fueling growth of the market. The latest research report serves as a perfect example of the precise analysis of the global Artificial intelligence and Advanced Machine Learning market.
AI and advanced ML are being used in different fields; for instance, AI-enabled Chef Watson provided by IBM is being used in kitchen by sous-chef to help develop recipes and advise human colleagues on food combinations to create unique flavors .Artificial Intelligence (AI) & advanced Machine Learning (ML) Market Size – USD 42.18 Billion in 2020, Market Growth – at a CAGR of 35.2%, Market Trends – Increased demand from BFSI sector. Rising volume of complex data and need for reduction in hardware costs are some key factors driving growth of the Artificial Intelligence & advanced Machine Learning market. Rapid digitalization is another significant driving factor supporting market growth.
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Key players in the market include NVIDIA Corporation, Prisma Labs, Inc., IBM, Google, Intel Corporation, Clarifai, Inc., Microsoft Corporation, Siemens, Netguru, and Micron Technology.
The global Artificial intelligence and Advanced Machine Learning market is broadly segmented on the basis of different product types, application range, end-use industries, key regions, and an intensely competitive landscape. This section of the report is solely targeted at readers looking to select the most appropriate and lucrative segments of the Artificial intelligence and Advanced Machine Learning sector in a strategic manner. The segmental analysis also helps companies interested in this sector make optimal business decisions and achieve their desired goals.
Functions Outlook (Revenue, USD Billion; 2018–2028)
Sales & Marketing
Research & Development
Vertical Outlook (Revenue, USD Billion; 2018–2028):
Consumer Goods & Retail
IT & Telecom
Others (Education, Media & Entertainment)
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End-Use Outlook (Revenue, USD Billion; 2017-2027):
The report considers the following timeline for market estimation:
Historical Years: 2017-2018
Base Year: 2019
Estimated Year: 2027
Forecast Years: 2020-2027
Highlights of the TOC:
1. Report Overview
1.1 Research Scope
1.2 Key Artificial Intelligence market segments
1.3 Major players
1.4 Market analysis by product
1.5 Market analysis by application
1.6 Report timeline
2. Global Growth Trends
2.1 Global Artificial Intelligence market size
2.2 Latest Artificial Intelligence market trends
2.3 Key growth trends
3. Competitive Landscape
3.1 Global Artificial Intelligence market key players
3.2 Global Artificial Intelligence size by manufacturers
3.3 Products of major players
3.4 Entry barriers in the Artificial Intelligence market
3.5 Mergers, acquisitions, joint ventures, and strategic alliances
Key Questions Answered in the Report:
What is the growth rate of the Artificial intelligence and Advanced Machine Learning market? What is the anticipated market valuation of Artificial intelligence and Advanced Machine Learning industry by 2027?
What are the key growth driving and restraining factors of the Artificial intelligence and Advanced Machine Learning market?
Who are the prominent players operating in the market? What are the key strategies adopted by these companies?
What are the key opportunities and growth prospects of the Artificial intelligence and Advanced Machine Learning industry over the forecast period?
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