AI Solutions market is projected to grow at a CAGR of 14.81% during the forecast period, reaching a total market size of US$119.866 billion in 2024 from US$52.343 billion in 2018. Artificial Intelligence, as the name suggests, is associated with human intelligence and has similar features such as understanding language, learning, problem-solving, and various others. It is one of the fastest-growing technology. Increasing adoption of cloud-based applications and services, a growing number of connected devices, and rising demand for intelligent virtual assistants.
Moreover, increasing machine learning applications in the manufacturing sector are also expected to propel market growth. However, a lack of trained professionals and privacy concerns is hampering the growth of the market. Geographically, the North American region is expected to have a significant market share on account of the strong technical base, presence of key players, and high awareness about the benefits of AI in the region. The market of the Asia Pacific region is expected to witness rapid growth during the forecast period owing to increasing investment in AI in the region.
The “AI Solutions Market– Forecasts from 2019 to 2024” is an exhaustive study that aims to present the key market trends through various chapters focusing on different aspects of the market. The study provides a detailed market overview through the market dynamics sections which detail key markets, drivers, restraints, and opportunities in the current market. The report analyzes key opportunity regional markets, and the current technology penetration through lifecycle analysis. The report also analyzes the market through comprehensive market segmentation by deployment, function, and geography.
The AI solutions market is segmented based on deployment, function, and geography. By deployment, the market has been segmented into cloud and on-premise. By function, the market has been segmented into computer vision, machine learning, and natural language processing, forecasting, and optimization.
Regional analysis has been provided with detailed analysis and forecast for the period 2018 to 2024. The global market has been broken down into North America, South America, Europe, the Middle East and Africa, and the Asia Pacific regions. The report also analyzes 15 countries across these regions with thorough analysis and forecast along with prevailing market trends and opportunities which each of these countries present for the manufacturers.
Major players in the AI solutions market have been covered along with their relative competitive position and strategies. The report also mentions recent deals and investments of different market players over the last year. The company profiles section details the business overview, financial performance for the past three years, key products and services being offered along with the recent developments of these important players in the AI solutions market.
|Market size value in 2018||US$52.343 billion|
|Market size value in 2024||US$119.866 billion|
|Growth Rate||CAGR of 14.81% from 2018 to 2024|
|Forecast Unit (Value)||USD Billion|
|Segments covered||Deployment, Function, And Geography|
|Regions covered||North America, South America, Europe, Middle East and Africa, Asia Pacific|
|Companies covered||IBM Corporation, Microsoft, Google LLC, Accenture, Oracle, IPsoft Inc., QlikTech International A.B., NVIDIA Corporation, Verint, SAS Institute Inc.|
|Customization scope||Free report customization with purchase|
Natural Language Processing
Forecasting and Optimization
Middle East and Africa
Frequently Asked Questions (FAQs)
Q1. What is the size of the AI Solutions Market?
A1. AI Solutions Market was valued at US$52.343 billion in the year 2018.
Q2. What will be the AI Solutions Market size by 2024?
A2. The AI Solutions Market is expected to reach a market size of US$119.866 billion by 2024.
Q3. What are the growth prospects for the AI Solutions Market?
A3. The global AI Solutions Market is expected to grow at a CAGR of 14.81% over the forecast period.
Q4. How is the AI Solutions Market segmented?
A4. The AI Solutions Market has been segmented by deployment, function, and geography.
Q5. What is the base year considered in the AI Solutions Market report?
A5. 2018 has been taken as the base year in the AI Solutions Market.
1.1. Market Overview
1.2. Market Definition
1.3. Scope of the Study
1.6. Base, and Forecast Years Timeline
2. RESEARCH METHODOLOGY
2.1. Research Design
2.2. Secondary Sources
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1. Market Segmentation
4.2. Market Drivers
4.3. Market Restraints
4.4. Market Opportunities
4.5. Porter’s Five Force Analysis
4.5.1 Bargaining Power of Suppliers
4.5.2 Bargaining Power of Buyers
4.5.3 Threat of New Entrants
4.5.4 Threat of Substitutes
4.5.5 Competitive Rivalry in the Industry
4.6. Life Cycle Analysis - Regional Snapshot
4.7. Market Attractiveness
5. AI SOLUTIONS MARKET BY DEPLOYMENT
6. AI SOLUTIONS MARKET BY FUNCTION
6.1. Computer Vision
6.2. Machine Learning
6.3. Natural Language Processing
6.4. Forecasting and Optimization
7. AI SOLUTIONS MARKET BY GEOGRAPHY
7.1. North America
7.2. South America
7.3.3. United Kingdom
7.4. Middle East and Africa
7.4.2. Saudi Arabia
7.5. Asia Pacific
7.5.3. South Korea
8. COMPETITIVE INTELLIGENCE
8.1. Competitive Benchmarking and Analysis
8.2. Recent Investment and Deals
8.3. Strategies of Key Players
9. COMPANY PROFILES
9.1. IBM Corporation
9.3. Google LLC
9.6. IPsoft Inc.
9.7. QlikTech International A.B.
9.8. NVIDIA Corporation
9.10. SAS Institute Inc.
LIST OF FIGURES
LIST OF TABLES
QlikTech International A.B.
SAS Institute Inc.
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