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, BC, CANADA, May 9, 2022 /EINPresswire.com/ — The 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.
The Global Artificial Intelligence Engineering Market Research Report published by Emergen Research has been formulated by analysis of key business details and extensive geographical spread of the Artificial Intelligence Engineering industry. The study offers comprehensive coverage of the qualitative and quantitative analysis of the Artificial Intelligence Engineering market along with crucial statistical data about the Artificial Intelligence Engineering market. The report also profiles established and emerging players of the market, covering the business overview, product portfolio, strategic alliances, and business expansion strategies.
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The report also studies the key companies of the Artificial Intelligence Engineering market along with analysis of their business strategies, M&A activities, investment plans, product portfolio, financial standing, gross profit margin, and production and manufacturing capacities.
Based on the competitive landscape, the market report analyzes the key companies operating in the industry:
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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The study finds that how on certain account threats and challenges can act as a roadblock for the business. A thorough evaluation of the Keyword market in the light of macro-environment such as social, political, economical as well as technological environment add granularity to the overall research. In addition, the study produces real-time data on vital aspects including sales, profits, gross margin and growth prospects to show how going forward the business will witness a substantial upswing.
Further key findings from the report suggest
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.
The report further divides the Artificial Intelligence Engineering market into key segments such as types, applications, end-user industries, technologies, and key regions of the market. The report also sheds light on the segment and region exhibiting promising growth in the Artificial Intelligence Engineering market.
For this report, 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)
Technology Outlook (Revenue, USD Billion; 2018–2030)
Natural Language Processing
Optical Character Recognition (OCR)
End-use Outlook (Revenue, USD Billion; 2018–2030)
Automotive & Transportation
Deployment Outlook (Revenue, USD Billion; 2018–2030)
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Key point summary of the report:
The report offers a comprehensive overview of the market size, share, and growth rate in the forecast duration.
It provides details about current scenario, historical data, giving an accurate market forecast for the coming years.
The study categorizes the market on the basis of product types, applications, end users, market value and volume, business verticals, and 5 major regions.
It also offers regional market analysis and forecast for prominent geographies in the sector viz., North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
Industry supply chain, sourcing strategy, upstream feedstock, and downstream demand analysis have also been undertaken in the research report.
The study offers a comprehensive understanding of the demand and supply dynamics, including production and consumption rates, and mapping of the overall market.
The report employs different analytical tools including SWOT analysis, Porter’s five forces analysis, and pricing analysis, to give precise market information.
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