Global Artificial Intelligence Platforms Market 2019-2023| Rise in Demand for AI-Based Solutions to Boost Growth| Technavio
LONDON--(BUSINESS WIRE)--Sep 18, 2019--
The global artificial intelligence platforms market size is poised to reach USD 6.95 billion by 2023, according to a new report by Technavio, progressing at a CAGR of over 28% during the forecast period.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20190918005671/en/
Technavio has announced its latest market research report titled global artificial intelligence platforms market 2019-2023. (Graphic: Business Wire)
“Apart from the rise in demand for AI-based solutions, the rising adoption of AI-enabled chips, the increasing interoperability among neural networks, and increasing convergence of AI with IoT and blockchain, are some other major factors that will drive market growth during the forecast period,” says a senior analyst at Technavio. Request Free Sample Pages
The market is driven by the rise in demand for AI-based solutions. In addition, increasing investments in R&D for AI technology are anticipated to further boost the artificial intelligence platforms market during the forecast period.
Several businesses are implementing automation tools that are integrated with AI platforms, which can support the process of digitalization and deliver better results. AI has the potential to introduce new sources of growth, accelerate working procedures, and strengthen the role of people in driving business growth. Moreover, the exponential increase in the volume of data is another factor encouraging organizations to implement AI-driven solutions. Also, various industries are implementing AI solutions in business functions to increase the efficiency of customer interaction, sales and demand forecasting for various products, fraud detection, workforce management, and many others. Thus, the need for automation and optimization of business operations will drive the demand for AI-solutions, during the forecast period.
Furthermore, enterprises are increasingly focusing on upgrading their IT systems and empowering their workforce with AI-based solutions to gain a competitive advantage over their competitors. AI technology is expected to have a significant impact on economic development and is set to transform the competitive landscape in industries. Governments are also promoting AI technology through investments in R&D and by developing education programs to train the workforce with AI skills, which can support businesses across industries. Retail, BFSI, and manufacturing are a few of the major industries that are increasing their investments in AI to automate business functions. For instance, in July 2019, HPE announced plans to invest USD 500 million over the next five years to increase its manufacturing operations in India. The company is keen to recruit people with expertise in AI and networking. Thus, such investments in AI R&D will lead to the growth of the global artificial intelligence platforms market.
For More Information: Request Free Sample Pages
The report includes detailed profiles of the leading companies & prominent vendors of the market:
Market Segmentation by Category and Product Types:
The Artificial Intelligence Platforms Market can be broadly categorized into the following:
Key Regions for the Artificial Intelligence Platforms Market:
Featuring a breakdown of region wise market shares until 2019.
Some of the key topics covered in the report include:
Technavio’s sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more.Request a free sample report
Related Reports on Information Technology Market are:
Optical Modulators Market – Global Optical Modulators Market by application (telecommunications, data centers, CATV, and others) and geography (APAC, Europe, MEA, North America, and South America).
Coding and Marking Equipment Market – Global Coding and Marking Equipment Market by technology (CIJ printing and coding, laser coding and marking, TIJ printing, DOD printing, and others), end-users (food and beverage, industrial, healthcare, and others) and geography (APAC, Europe, MEA, North America, and South America).
Technavio is a leading global technology research and advisory company. Their research and analysis focus 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.
If you are interested in more information, please contact our media team at email@example.com.
View source version on businesswire.com:https://www.businesswire.com/news/home/20190918005671/en/
CONTACT: Technavio Research
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
INDUSTRY KEYWORD: HARDWARE ELECTRONIC DESIGN AUTOMATION TECHNOLOGY SOFTWARE
SOURCE: Technavio Research
Copyright Business Wire 2019.
PUB: 09/18/2019 11:15 AM/DISC: 09/18/2019 11:15 AM