World Artificial Intelligence Sector to Post 44.5% CAGR to 2022, Forecasts KBV Research in Its Research Study Published at MarketPublishers.com21 Dec 2016 • by Natalie Aster
LONDON – The world artificial intelligence (AI) sector is anticipated to witness a 44.5% CAGR through to 2022, amounting to a value of USD 16.274 billion by 2022-end. Due to a hike in the uptake of AI in the retail, media and advertising, financial, and healthcare industry sectors, the natural language processing (NLP) and machine learning technologies are poised to play a pivotal role in stimulating the AI market’s growth in the offing.
AI is expected to double annual economic growth rates within the next twenty years by altering the nature of work and giving rise to a novel relationship between man and machine. The impact of AI technologies on business is poised to give a boost to labour productivity by up to 40% by radically altering the course work is executed and strengthening the role of people to stimulate the growth in business.
IBM Corporation, IPSoft, Qlik Technologies, Rocket Fuel, Microstrategy, Microsoft Corporation, Next IT Corporation, Brighterion, Google, and 24/7 Customer are some of the leading players in the marketplace.
New market research publication “Global Artificial Intelligence Market (2016 - 2022)” drawn up by KBV Research presents all-round, granular investigation of the marketplace. It is aimed at giving estimates of the size and growth capacity of the market in the foreseeable future across various market segments, namely technology, application area, and geographic region.
The study casts light on the market dynamics, covering the key market growth drivers & restraints and major opportunities. The study scrutinises the competitive scenario in the marketplace along with granular profiles of top 9 market participants, providing a business overview, financial performance analysis, regional and segmental analysis, and their R&D activities. The research report provides extensive forecasts of the worldwide AI market through to 2022.
More new reports by this publisher can be found at the KBV Research page.