Dublin, Aug. 11, 2021 (GLOBE NEWSWIRE) — The “Artificial Intelligence Services Global Market Report 2021: COVID-19 Growth and Change to 2030” report has been added to ResearchAndMarkets.com’s offering.
This report provides strategists, marketers and senior management with the critical information they need to assess the global artificial intelligence services market.
This report focuses on the artificial intelligence services market which is experiencing strong growth. The report gives a guide to the artificial intelligence services market which will be shaping and changing our lives over the next ten years and beyond, including the markets response to the challenge of the global pandemic.
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Where is the largest and fastest growing market for the artificial intelligence services? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The Artificial Intelligence Services market global report answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography. It places the market within the context of the wider artificial intelligence services market, and compares it with other markets.
- The market characteristics section of the report defines and explains the market.
- The market size section gives the market size ($b) covering both the historic growth of the market, the influence of the COVID-19 virus and forecasting its growth.
- Market segmentations break down market into sub markets.
- The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
- Competitive landscape gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
- The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
- The artificial intelligence services market section of the report gives context. It compares the artificial intelligence services market with other segments of the artificial intelligence services market by size and growth, historic and forecast. It analyses GDP proportion, expenditure per capita, artificial intelligence services indicators comparison.
Major players in the artificial intelligence services market are Intel Corp., International Business Machines Corp., Microsoft Corp., SAP SE, SAS Institute Inc., Amazon.com Inc., Salesforce, Google LLC, Oracle Corporation and Fair Isaac Corporation.
The global artificial intelligence services market is expected to grow from $0.77 billion in 2020 to $0.96 billion in 2021 at a compound annual growth rate (CAGR) of 24.7%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $3.39 billion in 2025 at a CAGR of 37%.
The artificial intelligence (AI) services market consists of sales of AI services that are used in telecommunications, government, retail, defense and healthcare. Companies in the artificial intelligence market provide outsourced services to cater to business requirements. AI as a service enables individuals and businesses to use AI for different purposes, without significant initial investment and with lower risk.
The rise in the adoption of cloud-based solutions is a key factor driving the growth of the artificial intelligence services market. Artificial intelligence (AI) as a service lets businesses experiment with AI for different activities without a high initial investment. Experimentation enables many cloud computing platforms to check different machine learning algorithms and helps streamline how data is analyzed and managed. Businesses are deeply interested in cloud-based machine learning, which lets them experiment through their services and help their clients make informed decisions based on the data. For instance, in March 2020, Google announced the beta launch of Cloud AI Platform Pipelines, which provides its customers with repeatable machine learning pipelines that can be installed easily and used for machine learning workflows securely. The integration of AI applications into its cloud draws more customers, thus enhancing market growth over the forecast period. Therefore, the rise in the adoption of cloud-based solutions is expected to drive the growth of the artificial intelligence services market.
The risks associated with data breaches and hacks are hampering the growth of the artificial intelligence services market. The World Economic Forum (WEF) has cautioned that new technologies such as the Internet of Things, artificial intelligence, and quantum computing can turn around human lives, but may also make society more vulnerable to cyber-attacks. It was expected that attacks occur on average once every 39 seconds and a single breach could cost as much as $150 million by 2020. Although companies and organizations are aware of these risks, breach activity still takes around six months to detect, and the long delays between original network breach and security responses allow hackers to take advantage of significant quantities of data. According to the State of the breach June 2020, about 16 billion records including credit card numbers, phone numbers, home addresses, and other sensitive information were exposed through data breaches since 2019. Therefore, the risks associated with data breaches and hacking hampers the growth of the artificial intelligence services market.
The artificial intelligence services market covered in this report is segmented by technology into machine learning, computer vision, natural language processing (NLP), others and by end-user into banking, financial, and insurance (BFSI), it & telecom, retail, manufacturing, public sector, energy & utility, healthcare, others.
The use of artificial intelligence as a service for human interaction with machines using natural language processing (NLP) is a key trend shaping the artificial intelligence services market. Natural language processing (NLP) is a type of artificial intelligence that explains how human language and computers interact. Machine translation is an enormous technology for NLP that enables us to overcome challenges to contact with people from all over the world and to understand software manuals and catalogs written in a foreign language. For instance, the Livox app, a customizable application in 25 languages helps the disabled to communicate.
In March 2019, McDonald’s, a USA based foodservice retailer acquired Dynamic Yield for $300 million. Through this acquisition, McDonald’s plans to integrate the technology into other digital products, like self-serve kiosks and the McDonald’s mobile app. Dynamic Yield is an artificial intelligence company based in New York.
Key Topics Covered:
1. Executive Summary
2. Artificial Intelligence Services Market Characteristics
3. Artificial Intelligence Services Market Trends and Strategies
4. Impact of COVID-19 on Artificial Intelligence Services
5. Artificial Intelligence Services Market Size and Growth
5.1. Global Artificial Intelligence Services Historic Market, 2015-2020, $ Billion
5.1.1. Drivers of the Market
5.1.2. Restraints on The Market
5.2. Global Artificial Intelligence Services Forecast Market, 2020-2025F, 2030F, $ Billion
5.2.1. Drivers of the Market
5.2.2. Restraints on the Market
6. Artificial Intelligence Services Market Segmentation
7. Artificial Intelligence Services Market Regional and Country Analysis
7.1. Global Artificial Intelligence Services Market, Split By Region, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
7.2. Global Artificial Intelligence Services Market, Split By Country, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
8. Asia-Pacific Artificial Intelligence Services Market
9. China Artificial Intelligence Services Market
10. India Artificial Intelligence Services Market
11. Japan Artificial Intelligence Services Market
12. Australia Artificial Intelligence Services Market
13. Indonesia Artificial Intelligence Services Market
14. South Korea Artificial Intelligence Services Market
15. Western Europe Artificial Intelligence Services Market
16. UK Artificial Intelligence Services Market
17. Germany Artificial Intelligence Services Market
18. France Artificial Intelligence Services Market
19. Eastern Europe Artificial Intelligence Services Market
20. Russia Artificial Intelligence Services Market
21. North America Artificial Intelligence Services Market
22. USA Artificial Intelligence Services Market
23. South America Artificial Intelligence Services Market
24. Brazil Artificial Intelligence Services Market
25. Middle East Artificial Intelligence Services Market
26. Africa Artificial Intelligence Services Market
27. Artificial Intelligence Services Market Competitive Landscape and Company Profiles
27.1. Artificial Intelligence Services Market Competitive Landscape
27.2. Artificial Intelligence Services Market Company Profiles
27.2.1. Intel Corp.
22.214.171.124. Products and Services
126.96.36.199. Financial Performance
27.2.2. International Business Machines Corp.
188.8.131.52. Products and Services
184.108.40.206. Financial Performance
27.2.3. Microsoft Corp.
220.127.116.11. Products and Services
18.104.22.168. Financial Performance
27.2.4. SAP SE
22.214.171.124. Products and Services
126.96.36.199. Financial Performance
27.2.5. SAS Institute Inc.
188.8.131.52. Products and Services
184.108.40.206. Financial Performance
28. Key Mergers and Acquisitions in the Artificial Intelligence Services Market
29. Artificial Intelligence Services Market Future Outlook and Potential Analysis
For more information about this report visit https://www.researchandmarkets.com/r/ynypy7