LONDON--(BUSINESS WIRE)--Sep 7, 2018--Artificial Intelligence (AI) has revolutionized our world. Once a distant dream, AI is now a reality owing to advances in the field of machine learning. The munificent applications of AI range over many areas such as healthcare, education, security, and human resources. The use of AI helps to enhance efficiency, bring in greater accuracy, and ensure the security of data and information. These factors together legitimize and incentivize the increasing reliance on artificial intelligence in all spheres of life.

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Researchers at Technavio forecast the global artificial intelligence market to grow at an impressive CAGR of more than 50% until 2021. (Graphic: Business Wire)

Increasing deployment of robots to boost the growth of AI across industries

Researchers at Technavio forecast the to grow at an impressive CAGR of more than 50% until 2021. The increasing deployment of robots in factories enables significant cost-savings for companies. According to the artificial intelligence market analysis, numerous sectors such as manufacturing, healthcare, automation, and finance industries have started substituting employees with AI systems. Large companies such as Siemens, IBM, and Amazon Web Services are funding startups and are also merging with small AI companies. Companies in the artificial intelligence market are also focusing on developing improved human-derived AI technologies that can raise the work efficiency and offer better operational quality.

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Americas to dominate the artificial intelligence market over the next 3 years

In terms of geography, the Americas accounted for the largest share of the artificial intelligence market during 2016. According to the comprehensive market research analysis by Technavio, this region will continue its dominance through 2021 mainly due to the high investment capabilities of the entertainment, healthcare, and manufacturing companies in the region.

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Technavio’s market research analysts closely monitor and evaluate the global market landscape and provide actionable market insights. From emerging technologies to emerging markets, their market research reports offer clarity and guidance on current and future market scenarios.

Some of the key topics covered in the report include:

Market Landscape

Market ecosystem Market characteristics Market segmentation analysis

Market Sizing

Market definition Market size and forecast

Five Forces Analysis

Market Segmentation

Geographical Segmentation

Regional comparison Key leading countries

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

Vendors covered Vendor classification Market positioning of vendors Competitive scenario

About Technavio

is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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CONTACT: Technavio Research

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SOURCE: Technavio Research

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