Lucintel Forecasts Artificial Intelligence Market to Reach $119 Billion by 2025

According to the recent study the Artificial Intelligence Market is projected to reach an estimated $70 billion by 2025 from $22.3 billion in 2019, at a CAGR of 21% from 2020 to 2025. Growth in this market is primarily driven by increasing demand for virtual assistance for easy accessibility of services and growing adoption of cloud-based technology.

Browse 106 figures / charts and 89 tables in this 206-page report to understand trends, opportunities and forecast in artificial intelligence market end use industry (media and advertising, security, automotive, healthcare, retail, fintech, manufacturing and others), by technology (machine learning, natural learning processing, and others), by product and service (hardware, software, and service) and by region (North America, Europe, Asia Pacific, and the Rest of the World).

Download sample report and view detailed Table of Content by clicking on below link https://www.lucintel.com/artificial-intelligence-market.aspx

“Machine learning technology market is expected to remain the largest segment during the forecast period.”

Based on technology, the artificial intelligence market is segmented into machine learning, natural learning processing, and others. Lucintel forecasts that the machine learning market is expected to remain the largest segment due to increasing adoption of this technology in the autonomous applications and growing consumer preference for IoT-enabled devices.

“Within the artificial intelligence market, the media and advertising segment is expected to remain the largest application”

Based on application the media and advertising segment is expected to witness the highest growth over the forecast period due to an increasing adoption of customer-centric marketing strategies and increasing use of social platform for advertisements.

“Asia pacific will dominate the artificial intelligence market in near future”

Asia Pacific is expected to be the largest region with the highest growth over the forecast period due to the growing adoption of IoT (internet of things), increasing installation of smart home devices, and growing industrial automation in countries, such as China, India, and Taiwan.

Download Brochure of this report by clicking on https://www.lucintel.com/artificial-intelligence-market.aspx

Major players of artificial intelligence market are adopting various growth strategies like new product launches, expansions, merger and acquisitions, partnerships, agreements, and collaborations to expand their presence in this market. Intel, IBM, Amazon, Facebook, NVIDIA, Apple, Microsoft, General Electric, and NEC Corporation and others are among the major artificial intelligence providers.

This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link https://www.lucintel.com/artificial-intelligence-market.aspx or helpdesk@lucintel.com