The artificial intelligence market is forecasted by Research and Markets to grow to USD 191 Billion by 2025 from USD 21 Billion in 2018, at a CAGR of 36.62% during the forecast period. This could be an underestimation. PWC has forecasted that by 2030 Artificial Intelligence will boost the global economy by 14% for more than a $15 trillion impact.
Global cloud computing is forecast to reach $1.3 trillion by 2025. Global Cloud Computing industry valued approximately USD 210 billion in 2016 is anticipated to grow with a healthy growth rate of more than 17.93% over the forecast period 2017-2025. The major driver for this industry is the cost-effectiveness. This service of cloud computing helps a various organization to save up to one-third of their annual operations costs.
Global Big Data is projected to reach $69 billionin 2025
Softbank Vision funds are betting billions in AI. China is investing tens of billions into AI. These larger investments should accelerate the growth and adoption of AI.
The market growth can be attributed to factors such as growing big data, the increasing adoption of cloud-based applications and services, and increasing demand for intelligent virtual assistants. The limited number of AI technology experts is restraining the market growth to a certain extent.
Software is expected to hold the largest share of the artificial intelligence market. Continuous developments have been witnessed in AI software and related software development kits. Also, artificial intelligence software is used in various applications, such as virtual assistants, marketing, search advertising, identity access management, intruder detection, and cybersecurity.
North America or China dominant in AI in 2025
The Research and Marketing report feels North America will lead in artificial intelligence through 2025. Increasing demand for intelligent virtual assistants acts as a driving force for the growth of the artificial intelligence market in the region. The market in North America is also characterized by high infrastructure costs and strict policies and regulatory frameworks. Companies such as IBM (US), Google (US), Microsoft (US), NVIDIA (US), Intel (US), Facebook (US), and AWS (US) are complementing the growth of the market in this region.
The key players operating in this market are Intel (US), NVIDIA (US), Xilinx (US), Samsung Electronics (South Korea), Facebook (US), Micron Technology (US), IBM (US), Google (US), Microsoft (US), and AWS (US).
Eric Schmidt has forecasted that China will catch up in AI by 2025
China’s artificial intelligence machine-learning policy
– behind right now,
– catch up by 2020
– get ahead by 2025
– dominate by 2030
Applying tens of billions of dollars and mobilizing about ten times the number of tech educated grads
* For the next five years, AI will enhance human roles. Like AI+ doctor for better diagnosis. In 10-15 years, AI will assist with answering difficult and deep problem analysis.
Brian Wang is a Futurist Thought Leader and a popular Science blogger with 1 million readers per month. His blog Nextbigfuture.com is ranked #1 Science News Blog. It covers many disruptive technology and trends including Space, Robotics, Artificial Intelligence, Medicine, Anti-aging Biotechnology, and Nanotechnology.
Known for identifying cutting edge technologies, he is currently a Co-Founder of a startup and fundraiser for high potential early-stage companies. He is the Head of Research for Allocations for deep technology investments and an Angel Investor at Space Angels.
A frequent speaker at corporations, he has been a TEDx speaker, a Singularity University speaker and guest at numerous interviews for radio and podcasts. He is open to public speaking and advising engagements.