FREMONT, CA: Tractica, in its latest report, ‘Artificial Intelligence Market Forecasts’, states that the annual worldwide Artificial Intelligence (AI) revenue will grow from $643.7 million in 2016 to $36.8 billion by 2025, causing a transformative effect on the existing business models of consumer, enterprise, and government markets.
Tractica’s report is a quantitative assessment of the market opportunity for AI across the consumer, enterprise, and government sectors, including market sizing, segmentation, and forecasts for 191 specific AI use cases and the 27 industries in which they will play a role. Revenue forecasts are further segmented by software, hardware, and services in addition to segmentation by world region.
Artificial Intelligence includes technologies like machine learning, deep learning, computer vision, natural language processing (NLP), machine reasoning, and strong AI. These technologies are being used in almost every industry to create new business models. Apart from industries like consumer products, business services, advertising, finance & investment, media and entertainment, and defense applications AI technologies will have an impact on almost every industry sector.
“Some artificial intelligence use cases – such as image recognition, algorithmic securities trading, and healthcare patient data management – have huge scale potential, while others are niche applications,” says Aditya Kaul, Research Director, Tractica. “Likewise, a few key industry sectors including consumer products, business services, advertising, finance & investment, media & entertainment, and defense applications will drive significant revenue for AI software implementations in addition to AI-driven hardware and service sales, but during the coming decade the technologies will have an effect on almost every conceivable industry sector.”