Global Artificial Intelligence Market Outlook 2025 Saints Marcus Williams Jersey , Opportunity & Growth Analyzed by nikitamanwar · October 11, 2019
Global artificial intelligence market was estimated to be USD 4,157.6 million in 2016
According to聽GMI Research聽report, 鈥淕lobal Artificial Intelligence Market聽By Solution, By Technology Saints Ryan Ramczyk Jersey , By End-Use and By Geography 鈥?Opportunities & Forecast 2016鈥?025鈥? the global artificial intelligence market was estimated to be USD 4,157.6 million in 2016 and is projected to reach USD 153,389.0 million by the end of 2025, exhibiting a CAGR of 49.3% during the forecast period. The key factors boosting growth of the market are increasing adoption of artificial intelligence solutions across a broad range of industries, rise in demand for analyzing and interpreting large amount of data as well as development and acceptance of technologically advanced artificial intelligence solutions for upgrading consumer services.
Surging demand from several industries, such as retail, BFSI, healthcare, automotive & transportation Saints Drew Brees Jersey , media & advertizing and manufacturing worldwide has led to burgeoning market growth of hardware solution. This segment typically includes chipsets, such as central processing unit, graphics processing unit, application specific integrated circuit as well as the field-programmable gate array. Apart from this, the technological advancements Saints Mark Ingram II Jersey , such as superior computing power, parallel computation capabilities and more storage capacity in AI-enabled hardware products are further likely to drive the growth of this segment.
On the basis of technology, deep learning segment cornered the market in 2016
Deep learning segment captured the largest share in artificial intelligence market globally due to it鈥檚 increased usage across various industries, such as BFSI, automotive as well as media & advertising. Besides that Saints Alvin Kamara Jersey , surging demand for technologically advanced deep learning hardware as well as cloud based technology has further spurred growth of the segment. Moreover, complex data driven applications including image recognition, signal recognition and data mining of deep learning technology is anticipated to positively affect the market growth.
Request Sample Report- On the basis of end-use application, media & advertising segment dominated the market in 2016
Media & advertising segment held the largest share in the indicated year and is predicted to grow at a substantial rate during the forecast period owing to rising usage of artificial intelligence solutions in various applications, such as ad targeting Saints Marshon Lattimore Jersey , content creation, fraud prevention, predictive customer service, consumer product recommendation, sales forecasting and webapp personalization. Also Saints Cameron Jordan Jersey , significant investments by industries, such as banking, retail, healthcare and manufacturing in artificial intelligence systems are expected to lay down the best path for the market to grow.
North America controlled the largest share in the market in 2016
Increase applications in end-use verticals, majorly in media & advertising Saints Michael Thomas Jersey , automotive & transportation, healthcare, BFSI, retail coupled with high government funding were the key factors that fueled the market growth in North America in 2016. Increased adoption rate of artificial intelligence systems by large conglomerates, especially in the United States has contributed to the market growth in the region. Europe and Asia-Pacific are other key significant regions in artificial intelligence market across the globe. Countries like the U.K. and Germany are projected to grow at the highest rates from 2016 to 2021 in the European region.
In this article we discuss the Indian insurance market and the trends that will help companies in the United States evaluate how they can leverage from this untapped market.
The research has been conducted by the VA consulting team working with inputs from several insurance leaders in the Indian market that have worked with early entrants like Met Life, Zurich, ICICI and others.
Background to the Indian economy
Ever since the economy was opened up in 20 years ago India has been growing as an economy at nearly double digits.
As the working middle class becomes a sizable number the insurance industry has started growing at an incredible rate. It has grown over 200% since 2006. Even last year that insurance industry has grown by over 45%. Analysts predict the industry is going to grow at least 10% in 2010 to become a $42Billion industry. Even with this growth rate only 5% of the country is actually covered by any form of insurance.
There are insurance governing bodies have been formed and governing bodies have brought about a number of changes to standardize the insurance sector but more changes are expected especially in the personal and life area.
There are many factors to probe into as an investor or venturing into the Indian market. Our guidance to companies that are interested in entering the Indian market is:
The consumers as well as the investors should be focusing on the insurer's financial strength and capability to meet ongoing responsibilities to its policyholders.
The fundamentals of the insurance company should be strong and should not indicate a poor investment opportunity as this might also deter growth.
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03.12.2019 08:59
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