Artificial Intelligence Engineering Market: Current Status, Opportunities, and Future Prospects
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Rapid adoption of automation in various sectors and increase in private investment for R&D of AI are some key factors driving market revenue growth
VANCOUVER, B.C., CANADA, April 10, 2023 /EINPresswire.com/ -- The global Artificial Intelligence (AI) engineering market size reached USD 8.05 Billion in 2020 and is expected to register a revenue CAGR of 41.2% during the forecast period, according to latest analysis by Emergen Research. Rapid adoption of automation in various sectors is expected to support market revenue growth during the forecast period. Moreover, increase in private investment for R&D of AI is expected to boost market growth.
Adoption of automation in various sectors involves integrating automation with various business operations and thereby reducing manual labor significantly. It also involves automation of data collection and preprocessing, which is another major factor driving growth of the global AI engineering market revenue.
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Furthermore, wide utility of artificial intelligence is leading to significant rise in private investment for the purpose of research & development. Large enterprises are collaborating with universities in order to fund state-of-the-art research in AI technology. In addition, rising demand for intelligent automation in different sectors is increasing demand for artificial intelligence engineering.
The Global Artificial Intelligence Engineering Market Report is a comprehensive report on the Artificial Intelligence Engineering market, offering key insights on business strategies, current trends, and presenting qualitative and quantitative analysis of the Artificial Intelligence Engineering market. This report offers in-depth research insights on key and significant aspects of the Artificial Intelligence Engineering market, providing an in-depth analysis of key drivers, restraints, restraints, growth prospects, threats, and risks. The report also includes an in-depth analysis of the competitive landscape and regional scope of the Artificial Intelligence Engineering market. Additionally, the report will be updated in line with changes in market dynamics and economic scenarios due to the COVID-19 pandemic. This report assesses the impact of the pandemic on the overall market and provides an in-depth assessment of the current and future impact of the COVID-19 pandemic on the industry.
Some Key Highlights From the Report
Software segment revenue is expected to grow at a rapid CAGR during the forecast period, due to rising demand for enterprise AI software that mimics human behavior by learning various data patterns and insights, and also helps in decision-making.
On-cloud segment is expected to register a significantly robust revenue growth rate over the forecast period, due to availability of virtual machines with powerful Graphics Processing Units (GPUs), which enable the user to perform advanced computation.
North America is expected to account for a larger revenue share in the global AI engineering market over the forecast period as compared other regional markets, due to robust presence of international and domestic AI solution providers for large enterprises, such as Google LLC, Cisco Systems, Inc., Meta Platforms, Inc., and Oracle Corporation, among others.
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Emergen Research has segmented the global AI engineering market on the basis of solutions, technology, end-use, deployment, and region:
Solutions Outlook (Revenue, USD Billion; 2018–2030)
Hardware
Software
Services
Technology Outlook (Revenue, USD Billion; 2018–2030)
Deep Learning
Machine Learning
Supervised Learning
Unsupervised Learning
Reinforcement Learning
Natural Language Processing
Speech Recognition
Optical Character Recognition (OCR)
Semantic Search
Sentiment Analysis
Computer Vision
End-use Outlook (Revenue, USD Billion; 2018–2030)
Healthcare
Automotive & Transportation
Agriculture
IT
Business Management
Manufacturing
Others
Deployment Outlook (Revenue, USD Billion; 2018–2030)
On-cloud
On-premises
Competitive Terrain:
The Global Artificial Intelligence Engineering Market is highly consolidated due to the presence of a large number of companies across this industry. The report discusses the current market standing of these companies, their past performances, demand and supply graph, production and consumption patterns, sales network, distribution channels, and growth opportunities in the market at length. The report scrutinizes the strategic approach of key market players towards expanding their product offerings and fortifying their market foothold.
Some major companies profiled in the global market report include Google LLC, International Business Machines Corporation, Intel Corporation, Baidu, Inc., Oracle Corporation, Salesforce.com, Inc., Cisco Systems, Inc., Meta Platforms, Inc., Siemens AG, and Nvidia Corporation.
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Regional Analysis:
This section of the report offers valuable insights into the geographical segmentation of the Artificial Intelligence Engineering market, alongside estimating the current and future market valuations based on the demand-supply dynamics and pricing structure of the leading regional segments. Furthermore, the growth prospects of each segment and sub-segment have been meticulously described in the report.
The report classifies the global Artificial Intelligence Engineering market into various regions, including:
North America (U.S., Canada)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Middle East & Africa (Saudi Arabia, the U.A.E., South Africa, Rest of MEA)
Radical Highlights of the Artificial Intelligence Engineering Market Report:
Comprehensive overview of the Artificial Intelligence Engineering market along with analysis of the changing dynamics of the market
Growth Assessment of various market segments throughout the forecast period
Regional and global analysis of the market players, including their market share and global position
Growth strategies adopted by key market players to combat the impact of the COVID-19 pandemic on the market
Impact of the technological developments and R&D advancements on the Artificial Intelligence Engineering market
Information about profit-making strategies and developmental strategies of major companies and manufacturers
Insightful information for the new entrants willing to enter the market
Details and insights about business expansion strategies, product launches, and other collaborations
The report incorporates advanced analytical tools such as SWOT analysis, Porter’s Five Forces Analysis, feasibility analysis, and investment return analysis
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