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Artificial Intelligence Services Market Overview by Growing Demands, Trends and Business Opportunities 2020 To 2027

Artificial Intelligence Services Global Market Report 2020-30: Covid 19 Growth And Change from Publisher provides the strategists, marketers and senior management with the critical information they need to assess the global artificial intelligence services market.

This report focuses on 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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Major players in the artificial intelligence (AI) 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.

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Description:
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 from Publisher 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.

Scope

Markets Covered: 1) By Technology: Machine Learning; Computer Vision; Natural Language Processing (NLP); Others
2) By End-user: Banking, Financial, and Insurance (BFSI); IT & Telecom; Retail; Manufacturing; Public Sector; Energy & Utility; Healthcare; Others

Companies Mentioned: Intel Corp.; International Business Machines Corp.; Microsoft Corp.; SAP SE; SAS Institute Inc.

Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA

Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa

Time series: Five years historic and ten years forecast.

Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,

Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.

Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.

The global artificial intelligence services market is expected to decline from $0.85 billion in 2019 to $0.77 billion in 2020 at a compound annual growth rate (CAGR) of -9.46%. The decline is mainly due to the COVID-19 outbreak that has led to restrictive containment measures involving social distancing, remote working, and the closure of industries and other commercial activities. The entire supply chain has been disrupted, impacting the market negatively. The market is then expected to recover and reach $1.97 billion in 2023 at a CAGR of 36.65%.

The artificial intelligence (AI) services market consists of sales of AI and related 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.

North America was the largest region in the artificial intelligence services market in 2019. Asia Pacific is expected to be the fastest-growing region in the forecast period.

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.

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 risks associated with data breaches and hacks is 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 the 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. Between the years 2017 and 2018, there was a 126% increase in the overall number of documents stolen. Therefore, the risks associated with data breaches and hacking hampers the growth of the artificial intelligence services market.

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.

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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.

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