The global artificial intelligence market size is expected to reach $169 million in 2025, from $4 million in 2016 growing at a CAGR [compound annual growth rate] of 55.6% from 2018 to 2025, according to Research and Markets (www.researchandmarkets.com).
The AI market is segmented by technology, industry vertical, and geography. The various technologies are sub-divided into machine learning, natural language processing, image processing, and speech recognition. In 2016, the machine learning segment dominated the market, in term of revenue, and is expected to maintain this trend in the coming years, owing to increase in demand for artificial intelligence industry solutions, says Research and Markets.
Based on industry verticals, the market is categorized into media and advertising, retail, telecom & IT, healthcare, automotive & transportation, and others (agriculture, law, educational institutions). The IT & telecom segment is anticipated to dominate the global artificial intelligence market throughout the forecast period, notes Research and Markets.