(MENAFN- EIN Presswire)
SHERIDAN, WYOMING, UNITED STATES, August 22, 2022 /EINPresswire.com / — According to IMARC Group’s latest report, titled“Artificial Intelligence Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,’ the global artificial intelligence market reached a value of US$ 56.5 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 308.5 Billion by 2027, exhibiting at a CAGR of 31.9% during 2022-2027.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Artificial intelligence (AI) refers to a branch of computer science concerned with building smart machines capable of performing tasks that require human intelligence. It involves decision-making based on prior experiences, speech recognition, translation, and human-like visual vision. As it offers the benefits of automation, minimizing errors, and managing repetitive tasks, AI finds extensive application in various end use industries across the globe.
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One of the primary factors influencing the market is the significant growth of the information technology (IT) sector, along with the rising use of cloud-based solutions for big data analysis, increased operational effectiveness, and improved user experience. Additionally, AI is becoming more popular in the media and entertainment industry in order to deliver personalised content and improve the capabilities of streaming services. In addition to this, AI is used in the healthcare sector to remotely monitor patients and spot disease clusters as a result of the rising prevalence of chronic diseases.
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List of Key Companies Covered in this Market Report:
Amazon Web Services Inc.
Cisco Systems Inc.
General Electric Company
Google LLC (Alphabet Inc.)
International Business Machines
Micron Technology Inc.
Rockwell Automation Inc.
Samsung Electronics Co. Ltd.
Breakup by Type:
Narrow/Weak Artificial Intelligence
General/Strong Artificial Intelligence
Breakup by Offering:
Breakup by Technology:
Natural Language Processing
Breakup by System:
Decision Support Processing
Breakup by End-Use Industry:
Transportation and Logistics
Breakup by Geography:
North America (U.S. & Canada)
Europe (Germany, United Kingdom, France, Italy, Spain, Russia, and Others)
Asia Pacific (China, India, Japan, South Korea, Indonesia, Australia, and Others)
Latin America (Brazil, Mexico)
Middle East & Africa
Key highlights of the report:
Market Performance (2016-2021)
Market Outlook (2022- 2027)
Porter’s Five Forces Analysis
Market Drivers and Success Factors
Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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