Artificial Intelligence Market to See Tremendous Growth through 2022, Predicts M&M in Its New Report Recently Added at MarketPublishers.com13 Jun 2017 • by Natalie Aster
LONDON – Spurred by rising application of artificial intelligence in different industries along with accelerating adoption of AI to improve consumer service, the world’s market for artificial intelligence is poised to gain traction at a tremendous CAGR of almost 63% over 2017-2022. By the year 2022, the market value is predicted to reach USD 16.06 billion.
However, there are certain challenges, for example, lack of availability of energy-efficient and low-cost hardware, could hamper further growth in the artificial intelligence market.
The natural language processing (NLP) sector is poised to exhibit growth at the highest CAGR over 2017-2022. Robust growth in this sector is attributed to increasing NLP adoption in a wide range of applications including smartphones, AI-powered robots, navigation systems, car-infotainment systems, personal assistant systems, etc. Besides, high growth rates are expected in the deep learning technology sector.
The North American artificial intelligence market is anticipated to be the fastest growing regional market due to the wide-scale adoption of AI technologies in many industry verticals.
New research report “Artificial Intelligence (Chipsets) Market by Technology, Offering, End-User Industry, and Geography - Global Forecast to 2022” worked out by MarketsandMarkets (M&M) gives an extensive analysis of the market historical performance, current scenario and future potential. It highlights the market dynamics, examines the major market growth drivers and restraints, discusses the major challenges and opportunities, covers the competitive landscape, identifies and profiles top players and also covers the most recent industry developments and product launches. The research report discusses the prevailing and emerging trends, touches upon regulative norms and also provides a future outlook through 2022.
Full collection of the publisher’s research reports is available in the MarketsandMarkets catalogue at MarketPublishers.com.