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According to a new report, Global Artificial Intelligence Market (2018-2024), published by KBV Research, the global artificial intelligence market is estimated to reach USD 32 Billion by 2024, at a CAGR of 44% from 2018 to 2024. The North America market dominated the Global Artificial Intelligence Market in 2017, and would continue to be a dominant market till 2024; thereby growing at a CAGR of 42.2% during the forecast period. The Asia-Pacific market is expected to grow at CAGR of 46.3% during 2018-2024.
The Machine learning segment contributed the larger share to the Global Artificial Intelligence Market in 2017, and would continue to be a dominant market till 2024 and is expected to grow at a CAGR of 40.1% during the forecast period. The Speech recognition segment is anticipated to grow at CAGR of 52.2% during 2018-2024.
The report highlights the adoption of Artificial Intelligence market, globally. Based on the Technology, the Artificial Intelligence Market is segmented into Machine learning, Natural language processing, Image processing and Speech recognition market. On the basis of Application, the market is bifurcated into Government & Defense, BFSI, Consumer Goods & Retail, IT & Telecom, Healthcare, Energy & Utilities, Manufacturing, Education, Transportation and Others segment. The market is further geographically segmented into North America, Europe, Asia Pacific and LAMEA (Latin America, Middle East and Africa) market.
Key Players profiled in the report include IPSoft, Rocket Fuel Inc., Qlik Technologies Inc., Microstrategy Inc., Brighterion Inc., Microsoft Corporation, Google Inc., IBM Corporation, 24/7 Customer Inc., Next IT Corporation.
The market is segmented based on Technology, Application and Geography.