The Artificial Intelligence Products Market is segmented by Type (Hardware, Software, Services), Technology (Deep Learning, Machine Learning, Natural Language Processing, Machine Vision), End-Use (Healthcare, BFSI, Law, Retail, Advertising & Media, Automotive & Transportation, Agriculture, Manufacturing, Others) and Region (North America, Europe, Asia-Pacific, and the Rest of the World).
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.
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.
Regional Trends
North America is expected to remain the largest market, and it holds a revenue share of more than 40% in 2021. 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.
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