Report Overview

Global Artificial Intelligence & Advanced Machine Learning Market Forecast and Trends

The global Artificial Intelligence & Advanced Machine Learning market has reached USD 29.8 Billion in 2019 and is estimated to reach USD 281.24 Billion in 2026 and anticipated to grow with CAGR of 37.95% during the forecast period from 2020-2026 due to increasing overall global investment in Artificial Intelligence Technology.

In the current scenario, the global artificial intelligence (AI) and advanced machine learning (ML) market supply natural language learning, automation, and analysis to a vast range of industries. When AI technology matures, it can replace human beings from cumbersome and routine processes completely. The process has already started, which results in more autonomy, cost savings, and more reliability for the companies. For instance, artificial intelligence and advanced machine learning market already cater to banks with fraud detection technology. The global artificial intelligence and advanced machine learning market is estimated to make big leaps in the near future owing to an increasing number of applications such as speech recognition and machine vision.

Source: BlueWeave Consulting

Global Artificial Intelligence & Advanced Machine Learning Market Overview:

Artificial Intelligence (AI) is a computer science algorithm and analytics-driven approach to replicate human intelligence in a machine. AI technology has enormous potential and is programmed for developing traits like reasoning, speech recognition, problem-solving, learning, planning, and the ability to control objects. Machine learning is an enhanced application of artificial intelligence, which allows software applications to predict the resulted accurately. Also, it can analyze the big data and extract information from it. In the banking sector, these help in fraud detection by tracking unusual transactions.

Growth drivers

Rising big data analytics and cloud computing

AI technology is driven by big data analytics, and cloud computing is helping to connect companies to follow, track, and interact with the consumers through effortless and cost-effective automated mechanisms. As natural learning evolves, AI technology is paving the way for effective marketing, consumer interactions, and content creation.

The rising trend of AI in machine learning and predictive analysis

Machine learning is estimated to drive the artificial intelligence and advanced machine learning market across the globe. Predictive analysis and machine learning and is rapidly used in retail, finance, and healthcare. Machine learning not only helps the companies to connect with the consumers but also predicts their next move and automates the purchasing on their behalf.

Restraints

Security and Privacy Issues

The security issues are the most significant concern in managing and maintaining business data. Data can be in danger due to loss of data, potential threats and data manipulation. Artificial Intelligence and Machine Learning cause mispredictions or misclassifications due to malicious external influences, then it can cause enormous difficulties in real life.

Global Artificial Intelligence & Advanced Machine Learning Market: Function

Based on Function, Artificial Intelligence & Advanced Machine Learning market segmented into Manufacturing, Operations, Sales and Marketing, Customer Support, Research and Development, Others. Amidst function type segmentation sales and marketing segment expected to dominate global market and expected to increase at the highest CAGR over the forecast period of 2026. These advanced analytics tools portray an important role in sales and marketing. AI and machine learning have already been integrated into some major areas advancing marketing efforts, such as making marketing more personalized, improving user experience using Chabot’s, enhancing the volume of dark social sharing, the capability to provide the correct information at the right time in the right environment, and content creation.

Global Artificial Intelligence & Advanced Machine Learning Market: Organization Size

Based on organization size, the Artificial Intelligence & Advanced Machine Learning market segmented into Small and Medium Enterprise, Large Enterprise. Large Enterprise segment projected to propel the organization size segment in the Artificial Intelligence & Advanced Machine Learning market and Small and Medium Enterprise is estimated to grow at a significant CAGR over the forecast period. With the growing volume of business data being generated by the organizations, AI tools can be used for advanced statistical analysis and machine learning for small businesses with budget constraints.

Global Artificial Intelligence & Advanced Machine Learning Market: Industry Vertical

Based on Industry Vertical, the Artificial Intelligence & Advanced Machine Learning market segmented into Consumer Goods and Retail, Healthcare, Automotive, IT and Telecom, Banking, Financial Services and Insurance, Government, Others (Education, Media, and Entertainment etc.). Banking, Financial Services and Insurance segment is dominating the industry vertical segment in the Artificial Intelligence & Advanced Machine Learning market. The increase in complex data sets such as big data in the banking industry fuels the growth of the Artificial Intelligence & Advanced Machine Learning market. Also, the ability of these technologies to detect payment frauds further propels the market growth.

Global Artificial Intelligence & Advanced Machine Learning Market: Regional insights

Based on the region, the Artificial Intelligence & Advanced Machine Learning market is segmented into North America, Europe, the Asia Pacific, Latin America, and Middle East & Africa. The global artificial intelligence (AI) and advanced machine (ML) learning market is estimated to increase at a robust pace in North America. A large number of technology giants in the region, growing need for automation in manufacturing, and growing reliance on automation for cost-savings in the consumer relations industry are anticipated to propel the growth of the artificial intelligence and advanced machine learning market across this region.

Artificial Intelligence & Advanced Machine Learning Market: Competitive Landscape

The major market players in the Artificial Intelligence & Advanced Machine Learning market are ICarbonX, TIBCO Software Inc., SAP SE, Fractal Analytics Inc., Next IT, Iflexion, Icreon, Prisma Labs, AIBrain, Oracle Corporation, Quadratyx, NVIDIA, Inbenta, Numenta, Intel, Domino Data Lab, Inc., Neoteric, UruIT, Waverley Software, and Other Prominent Players are expanding their presence in the market by implementing various innovations and technology.

Recent Development:

In Feb 2020, Fractal Analytics Inc., a global leader in artificial intelligence and analytics, powering decision-making in Fortune 100 companies, has announced a technology partnership with ideaForge, a global leader in Unmanned Aerial Vehicle (UAV) Technology. Both organizations will join hands to provide Artificial Intelligence-based drone solutions useful for crowd monitoring, people & objects detection, object tracking and triggering alerts for actions.

In April 2018, Fractal Analytics is funding the Qure.ai efforts and plans to invest up to $30 million over the next few years as Qure.ai launches AI system to read head CT scans and find abnormalities.

The objective of the Study:

To analyze and forecast the Global Artificial Intelligence & Advanced Machine Learning market size of the market, in terms of value.

To examine the careful market segmentation and forecast the market size, in terms value, based on the region by segmenting the Global Artificial Intelligence & Advanced Machine Learning market into five regions, namely, North America, Europe, Asia Pacific, Latin America and the Middle East & Africa and their leading countries.

To outline, categorized and forecast the Global Artificial Intelligence & Advanced Machine Learning market based on the function, organization size, industry vertical, and region.

To examine competitive developments like technological advancement, services, and regulative framework within the Global Artificial Intelligence & Advanced Machine Learning Market.

To highlight the impact analysis of the factors, affecting the market dynamics such as drivers, restraints, opportunities, and challenges.

To strategically profile the key players and comprehensively analyze their market shares along with detailing the competitive landscape for market leaders.

Scope of the Report

By Function

·         Manufacturing

·         Operations

·         Sales and Marketing

·         Customer Support

·         Research and Development

·         Others

By Organization Size

·         Small and Medium Enterprise

·         Large Enterprise

By Industry Vertical

·         Consumer Goods and Retail

·         Healthcare

·         Automotive

·         IT and Telecom

·         Banking, Financial Services and Insurance

·         Government

·         Others (Education, Media and Entertainment etc.)

By Region

·         North America

·         Europe

·         Asia Pacific

·         Latin America

·         Middle East & Africa

1.    Research Framework

1.1. Research Objective

1.2. Function Overview

1.3. Market Segmentation

2.    Research Methodology

2.1. Qualitative Research

2.1.1.   Primary & Secondary Types

2.2. Quantitative Research

2.2.1.   Primary & Secondary Types

2.3. Breakdown of Primary Research Respondents, By Region

2.3.1.   Secondary Research

2.3.2.   Primary Research

2.4. Breakdown of Primary Research Respondents

2.5. Market Size Estimation

2.6. Assumption For The Study

2.7. Market Breakdown & Data Triangulation

3.    Executive Summary

4.    Global Artificial Intelligence & Advanced Machine Learning Insights

4.1. DROC Analysis

4.1.1.   Growth Drivers

4.1.2.   Restraints

4.1.3.   Opportunities

4.1.4.   Challenges

4.2. Technological Landscape

4.3. Regulatory Framework

4.4. Company Market Share Analysis,2019

4.5. Porter’s Five forces analysis

4.5.1.   Bargaining Power of Suppliers

4.5.2.   Bargaining Power of Buyers

4.5.3.   Threat of New Entrants

4.5.4.   Threat of Substitutes

4.5.5.   Intensity of Rivalry

5.    Global Artificial Intelligence & Advanced Machine Learning Market Overview

5.1. Market Size & Forecast By Value, 2016-2026

5.1.1.   By Value (USD Billion)

5.2. Market Share & Forecast

5.2.1.   By Function

5.2.1.1.       Manufacturing

5.2.1.2.       Operations

5.2.1.3.       Sales and Marketing

5.2.1.4.       Customer Support

5.2.1.5.       Research and Organization Size

5.2.2.   By Organization Size

5.2.2.1.       Small and Medium Enterprise

5.2.2.2.       Large Enterprise

5.2.3.   By Industry Vertical

5.2.3.1.       Consumer Goods and Retail

5.2.3.2.       Healthcare

5.2.3.3.       Automotive

5.2.3.4.       IT and Telecom

5.2.3.5.       Banking, Financial Services and Insurance

5.2.3.6.       Government

5.2.3.7.       Others (Education, Media and Entertainment etc.)

5.2.4.   By Region

5.2.4.1.       North America

5.2.4.2.       Europe

5.2.4.3.       Asia Pacific

5.2.4.4.       Latin America

5.2.4.5.       Middle East & Africa

6.    North America Artificial Intelligence & Advanced Machine Learning Market

6.1. Market Size & Forecast By Value, 2016-2026

6.1.1.   By Value (USD Billion)

6.2. Market Share & Forecast

6.2.1.   By Function

6.2.2.   By Organization Size

6.2.3.   By Industry Vertical

6.2.4.   By Country

6.2.4.1.       U.S

6.2.4.2.       Canada

7.    Europe Artificial Intelligence & Advanced Machine Learning Market

7.1. Market Size & Forecast By Value, 2016-2026

7.1.1.   By Value (USD Billion)

7.2. Market Share & Forecast

7.2.1.   By Function

7.2.2.   By Organization Size

7.2.3.   By Industry Vertical

7.2.4.   By Country

7.2.4.1.       Germany

7.2.4.2.       U.K

7.2.4.3.       France

7.2.4.4.       Italy

7.2.4.5.       Rest of Europe

8.    Asia Pacific Artificial Intelligence & Advanced Machine Learning Market

8.1. Market Size & Forecast By Value, 2016-2026

8.1.1.   By Value (USD Billion)

8.2. Market Share & Forecast

8.2.1.   By Function

8.2.2.   By Organization Size

8.2.3.   By Industry Vertical

8.2.4.   By Country

8.2.4.1.       China

8.2.4.2.       India

8.2.4.3.       Japan

8.2.4.4.       South Korea

8.2.4.5.       Rest of Asia Pacific

9.    Latin America Artificial Intelligence & Advanced Machine Learning Market

9.1. Market Size & Forecast By Value, 2016-2026

9.1.1.   By Value (USD Billion)

9.2. Market Share & Forecast

9.2.1.   By Function

9.2.2.   By Organization Size

9.2.3.   By Industry Vertical

9.2.4.   By Country

9.2.4.1.       Brazil

9.2.4.2.       Mexico

9.2.4.3.       Argentina

9.2.4.4.       Rest of Latin America

10.Middle East & Africa Artificial Intelligence & Advanced Machine Learning Market

10.1.             Market Size & Forecast By Value, 2016-2026

10.1.1.                By Value (USD Billion)

10.2.             Market Share & Forecast

10.2.1.                By Function

10.2.2.                By Organization Size

10.2.3.                By Industry Vertical

10.2.4.                By Country

10.2.4.1.    Saudi Arabia

10.2.4.2.    UAE

10.2.4.3.    South Africa

10.2.4.4.    Rest of Middle East & Africa

11.Company Profile (Company Overview, Financial Matrix, Function landscape, Key Personnel, Key Competitors, Contact Address, and Strategic Outlook)

11.1.             ICarbonX

11.2.             TIBCO Software Inc.

11.3.             SAP SE

11.4.             Fractal Analytics Inc.

11.5.             Next IT

11.6.             Iflexion

11.7.             Icreon

11.8.             Prisma Labs

11.9.             AIBrain

11.10.          Oracle Corporation

11.11.          Quadratyx

11.12.          NVIDIA

11.13.          Inbenta

11.14.          Numenta

11.15.          Intel

11.16.          Domino Data Lab, Inc.

11.17.          Neoteric

11.18.          UruIT

11.19.          Waverley Software

11.20.          Other Prominent Players

List of Figures

Fig: Global Artificial Intelligence & Advanced Machine Learning Segmentation

Fig: Global Artificial Intelligence & Advanced Machine Learning Market Value Chain Analysis

Fig: Company Market Share Analysis, 2019

Fig: Global Artificial Intelligence & Advanced Machine Learning Market Size, By Value (USD Billion), 2016-2026

Fig: Global Artificial Intelligence & Advanced Machine Learning Market Share, By Function, By Value, 2016-2026

Fig: Global Artificial Intelligence & Advanced Machine Learning Market Share, By Organization Size, By Value, 2016-2026

Fig: Global Artificial Intelligence & Advanced Machine Learning Market Share, By Industry Vertical, By Value, 2016-2026

Fig: Global Artificial Intelligence & Advanced Machine Learning Market Share, By Region, By Value, 2016-2026

Fig: North America Artificial Intelligence & Advanced Machine Learning Market Size, By Value (USD Billion), 2016-2026

Fig: North America Artificial Intelligence & Advanced Machine Learning Market Y-o-Y Growth, By Value, 2017-2026

Fig: North America Artificial Intelligence & Advanced Machine Learning Market Share, By Function, By Value, 2016-2026

Fig: North America Artificial Intelligence & Advanced Machine Learning Market Share, By Organization Size, By Value, 2016-2026

Fig: North America Artificial Intelligence & Advanced Machine Learning Market Share, By Application, By Value, 2016-2026

Fig: North America Artificial Intelligence & Advanced Machine Learning Market Share, By Industry Vertical, By Value, 2016-2026

Fig: North America Artificial Intelligence & Advanced Machine Learning Market Share, By Country, By Value, 2016-2026

Fig: Europe Artificial Intelligence & Advanced Machine Learning Market Size, By Value (USD Billion), 2016-2026

Fig: Europe Artificial Intelligence & Advanced Machine Learning Market Y-o-Y Growth, By Value, 2017-2026

Fig: Europe Artificial Intelligence & Advanced Machine Learning Market Share, By Function, By Value, 2016-2026

Fig: Europe Artificial Intelligence & Advanced Machine Learning Market Share, By Organization Size, By Value, 2016-2026

Fig: Europe Artificial Intelligence & Advanced Machine Learning Market Share, By Industry Vertical, By Value, 2016-2026

Fig: Europe Artificial Intelligence & Advanced Machine Learning Market Share, By Country, By Value, 2016-2026

Fig: Asia-Pacific Artificial Intelligence & Advanced Machine Learning Market Size, By Value (USD Billion), 2016-2026

Fig: Asia-Pacific Artificial Intelligence & Advanced Machine Learning Market Y-o-Y Growth, By Value, 2017-2026

Fig: Asia-Pacific Artificial Intelligence & Advanced Machine Learning Market Share, By Function, By Value, 2016-2026

Fig: Asia-Pacific Artificial Intelligence & Advanced Machine Learning Market Share, By Organization Size, By Value, 2016-2026

Fig: Asia-Pacific Artificial Intelligence & Advanced Machine Learning Market Share, By Industry Vertical, By Value, 2016-2026

Fig: Asia-Pacific Artificial Intelligence & Advanced Machine Learning Market Share, By Country, By Value, 2016-2026

Fig: Latin America Artificial Intelligence & Advanced Machine Learning Market Size, By Value (USD Billion), 2016-2026

Fig: Latin America Artificial Intelligence & Advanced Machine Learning Market Y-o-Y Growth, By Value, 2017-2026

Fig: Latin America Artificial Intelligence & Advanced Machine Learning Market Share, By Function, By Value, 2016-2026

Fig: Latin America Artificial Intelligence & Advanced Machine Learning Market Share, By Organization Size, By Value, 2016-2026

Fig: Latin America Artificial Intelligence & Advanced Machine Learning Market Share, By Industry Vertical, By Value, 2016-2026

Fig: Latin America Artificial Intelligence & Advanced Machine Learning Market Share, By Country, By Value, 2016-2026

Fig: Middle-East & Africa Artificial Intelligence & Advanced Machine Learning Market Size, By Value (USD Billion), 2016-2026

Fig: Middle-East & Africa Artificial Intelligence & Advanced Machine Learning Market Y-o-Y Growth, By Value, 2017-2026

Fig: Middle-East & Africa Artificial Intelligence & Advanced Machine Learning Market Share, By Function, By Value, 2016-2026

Fig: Middle-East & Africa Artificial Intelligence & Advanced Machine Learning Market Share, By Organization Size, By Value, 2016-2026

Fig: Middle-East & Africa Artificial Intelligence & Advanced Machine Learning Market Share, By Industry Vertical, By Value, 2016-2026

Fig: Middle East & Africa Artificial Intelligence & Advanced Machine Learning Market Share, By Country, By Value, 2016-2026

List of Tables:

Table: Global Artificial Intelligence & Advanced Machine Learning Market Size, By Function, By Value, 2016-2026

Table: Global Artificial Intelligence & Advanced Machine Learning Market Size, By Organization Size, By Value, 2016-2026

Table: Global Artificial Intelligence & Advanced Machine Learning Market Size, By Industry Vertical, By Value, 2016-2026

Table: Global Artificial Intelligence & Advanced Machine Learning Market Size, By Region, By Value, 2016-2026

Table: North America Artificial Intelligence & Advanced Machine Learning Market Size, By Function, By Value, 2016-2026

Table: North America Artificial Intelligence & Advanced Machine Learning Market Size, By Organization Size, By Value, 2016-2026

Table: North America l Artificial Intelligence & Advanced Machine Learning Market Size, By Industry Vertical, By Value, 2016-2026

Table: North America Artificial Intelligence & Advanced Machine Learning Market Size, By Country, By Value, 2016-2026

Table: Europe Artificial Intelligence & Advanced Machine Learning Market Size, By Function, By Value, 2016-2026

Table: Europe Artificial Intelligence & Advanced Machine Learning Market Size, By Organization Size, By Value, 2016-2026

Table: Europe Artificial Intelligence & Advanced Machine Learning Market Size, By Industry Vertical, By Value, 2016-2026

Table: Europe Artificial Intelligence & Advanced Machine Learning Market Size, By Country, By Value, 2016-2026

Table: Asia-Pacific Artificial Intelligence & Advanced Machine Learning Market Size, By Function, By Value, 2016-2026

Table: Asia-Pacific Artificial Intelligence & Advanced Machine Learning Market Size, By Organization Size, By Value, 2016-2026

Table: Asia-Pacific Artificial Intelligence & Advanced Machine Learning Market Size, By Industry Vertical, By Value, 2016-2026

Table: Asia-Pacific Artificial Intelligence & Advanced Machine Learning Market Size, By Country, By Value, 2016-2026

Table: Latin America Artificial Intelligence & Advanced Machine Learning Market Size, By Function, By Value, 2016-2026

Table: Latin America Artificial Intelligence & Advanced Machine Learning Market Size, By Organization Size, By Value, 2016-2026

Table: Latin America Artificial Intelligence & Advanced Machine Learning Market Size, By Industry Vertical, By Value, 2016-2026

Table: Latin America Artificial Intelligence & Advanced Machine Learning Market Size, By Country, By Value, 2016-2026

Table: Middle-East & Africa Artificial Intelligence & Advanced Machine Learning Market Size, By Function, By Value, 2016-2026

Table: Middle-East & Africa Artificial Intelligence & Advanced Machine Learning Market Size, By Organization Size, By Value, 2016-2026

Table: Middle-East & Africa Artificial Intelligence & Advanced Machine Learning Market Size, By Industry Vertical, By Value, 2016-2026

Table: Middle East & Africa Artificial Intelligence & Advanced Machine Learning Market Size, By Country, By Value, 2016-2026

Table: ICarbonX Financial Analysis

Table: TIBCO Software Inc. Financial Analysis

Table: SAP SE Financial Analysis

Table: Fractal Analytics Inc. Financial Analysis

Table: Next IT Financial Analysis

Table: Iflexion Financial Analysis

Table: Icreon Financial Analysis

Table: Prisma Labs Financial Analysis

Table: AIBrain Financial Analysis

Table: Oracle Corporation Financial Analysis

*Financial details of unlisted companies will be covered as per data availability.

**The segmentation and the companies are subjected to modifications based on the in-depth secondary for the final deliverable