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    Artificial Intelligence Products Market Report

    Artificial Intelligence Products Market Report
    Report code - SR1307 Delivery - 2 Weeks
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    Artificial Intelligence Products Market Trends, Dynamics & Market Insights
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    Impact of COVID-19 on Artificial Intelligence Products Market

    Covid-19 has impacted the market dynamics, competition, and global...

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    Impact of COVID-19 on Artificial Intelligence Products Market

    Covid-19 has impacted the market dynamics, competition, and global supply chain. The revenues have gone down in 2020 and may resume an uptrend gradually from 2021. Companies optimizing their operation and strategy will sustain and beat the competition.

    Note: The summary below might not have included insights on covid impact since we have large number of reports.

    Market Insights

    The Artificial Intelligence Products Market is estimated to grow from USD 61.2 billion in 2020 to USD 460.9 billion by 2026 at a healthy CAGR of 40.7% during the forecast period.

    Figure: Artificial Intelligence Products Market Size, 2020-2026 (USD Billion)

    Artificial-Intelligence-Products-Market-Forecast

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    What is artificial intelligence?

    Artificial Intelligence is one in every of the fastest-growing technologies within the past few years. AI products are related to human intelligence with similar features like reasoning, language understanding, problem-solving, learning, and others. Manufacturers within the industry witness huge underlying intellectual challenges within the development and revision of such a technology.

    Key Players

    Key players operating in the artificial intelligence products market are-

    • Advanced Micro Devices (US)
    • AiCure (US)
    • Arm Limited (UK)
    • Atomwise, Inc. (US)
    • Ayasdi AI LLC (US)
    • Baidu, Inc. (China)
    • Clarifai, Inc. (US)
    • Cyrcadia Health (US)
    • Enlitic, Inc. (US)
    • Google LLC (US).

    Market Dynamics

    A surge in the number of innovative start-ups and technological advancements has resulted in an increase in investment in artificial intelligence technologies, which boosts product penetration in the coming years. In addition, strong growth in demand for interpreting and analyzing large amounts of data is further boosting the market growth. However, the lack of experienced and trained professionals is likely to hamper the industry growth.

    Segments' Analysis

    End-Use Trends

    Based on end-use, the artificial intelligence products market is categorized into healthcare, BFSI, law, retail, advertising & media, automotive & transportation, agriculture, manufacturing, others. The healthcare segment held a significant market share in 2020 and is estimated to register a healthy CAGR during the forecast timeline. Artificial intelligence products are used in the healthcare sector for various applications, such as dosage error reduction, robot-assisted surgery, clinical trial participant identifier, virtual nursing assistants, preliminary diagnosis, hospital workflow management, and automated image diagnosis, thereby bolstering the segment growth.

    Regional Trends

    By region, the North American market accounted for a significant share in 2020 and is expected to grow at the highest CAGR in the following years. This is mainly ascribed to the strong presence of artificial intelligence players in the US. Also, the growing adoption of artificial intelligence (AI) across various industries such as automotive, healthcare, retail, agriculture, marketing, and law, further proliferates the regional market growth.

    COVID-19 Impact on Artificial Intelligence Products Market

    The COVID-19 outbreak has positively influenced the artificial intelligence products industry. This pandemic is likely to stimulate the market growth of next-generation tech domains, including artificial intelligence, mainly due to the mandated work-from-home (WFH) policy. This coronavirus pandemic has emerged as an opportunity for AI-enabled computer systems to fight against the epidemic as several tech giants and start-ups are working on preventing mitigating, and containing the virus.

    Critical Questions Answered in the Report

    • What are the key trends in the global artificial intelligence products market?
    • How the market (and its various sub-segments) has grown in the last five years and what would be the growth rate in the next five years?
    • What is the impact of COVID-19 on the artificial intelligence products market?
    • What are the key strategies adopted by the major vendors to lead in the global artificial intelligence products market?
    • What is the market share of the top vendors?

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    Target Audience

    Here is the list of the group of customers that the artificial intelligence products market hopes to have the greatest opportunity to convert-

    • Artificial intelligence products vendors
    • Artificial intelligence products retailers
    • Advertising & media companies
    • Automotive companies

    Custom Research: Stratview research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry at sales@stratviewresearch.com.

    Frequently Asked Questions (FAQs)

    The artificial intelligence products market size is expected to reach USD 460.9 billion in the foreseeable future.

    Advanced Micro Devices (US), AiCure (US), Arm Limited (UK), Atomwise, Inc. (US), Ayasdi AI LLC (US), Baidu, Inc. (China), Clarifai, Inc. (US), Cyrcadia Health (US), Enlitic, Inc. (US), and Google LLC (US) are among the key players in the artificial intelligence products market.

    The artificial intelligence products market is expected to witness an impressive growth of 40.7% CAGR in the coming years.

    The healthcare segment is expected to register the healthy CAGR in the artificial intelligence products market in the coming years.

    North America is expected to grow at the highest CAGR in the artificial intelligence products market during the next five years.

    Artificial intelligence products vendors, Artificial intelligence products retailers, Advertising & media companies, Automotive companies are the target audience in the artificial intelligence products market.

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