Global Commercial Artificial Intelligence Market: Introduction
The dynamics of the global commercial artificial intelligence market continues to change over time, thanks to the persistent advancements in technology. This research report offers a detailed and insightful assessment of the global commercial artificial intelligence market, taking primary trends and the future prospects of this market in consideration. Various segments of this market, based on a number of parameters, have also been evaluated to gain a clear overview of the dynamics in the worldwide commercial artificial intelligence market.
Global Commercial Artificial Intelligence Market: Notable Developments
The global commercial artificial intelligence market demonstrates a highly fragmented and competitive business landscape. The leading companies in this market, including NVIDIA, Intel, IBM, Google, Microsoft, AWS, General Vision, GE, Siemens, and Mitsubishi Electric, are all competing on the basis of R&D, innovations, and new product launches. Some of the recent developments in the worldwide commercial artificial intelligence market are:
- The launch of Siemens’ SIEAERO, a novel service approach for overhead line inspection, at the 2018 European Utility Week, held in Vienna, Austria. This smart analytics software use Artificial Intelligence and Machine Learning to collect, manage, and evaluate data in a single integrated software system.
- The announcement of the strategic partnership between Shell Global Solutions and Microsoft. With this collaboration, Shell plans to widen its work area in order to assist in accelerating the transformation of the oil and gas industry. Shell also announced that it has chosen C3 Internet of Things with Microsoft Azure as its artificial intelligence platform, as a part of this deal, to enable digital transformation on a bigger level.
- The announcement of Siemens and Atos partnership reinforcement, with plans to speed up their joint ventures through a joint go-to-market plan and heavy investments.
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Global Commercial Artificial Intelligence Market: Market Dynamics
The ability of machine learning to collect and manage big data and its applications, especially in the manufacturing sector, has fueled its demand, which is reflecting positively on the global commercial artificial intelligence market. The availability of a massive pool of data, also known as big data, and the rising uptake of machine learning across various verticals are also supporting this market significantly.
Asia Pacific to Surface as Most Promising Regional Market for Commercial Artificial Intelligence
In terms of the region, the global commercial artificial intelligence market is classified into North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. North America and Europe are the most prominent regional commercial artificial intelligence markets across the world. The early uptake of artificial intelligence and the availability of a superior technological infrastructure are the key factors behind the supremacy of these regional markets. With the presence of a large pool of prominent commercial artificial intelligence developers, both the regional markets will remain on the top over the next few years.
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On the other hand, the commercial artificial intelligence market in Asia Pacific is demonstrating a high potential for growth. This region is the home to the most number of production plants in the world. The increasing automation in the manufacturing industry has opened new revenue streams for AI developers operating in Asia Pacific. The markets in Latin America and Middle East and Africa are also projected to report positive growth in the years to come.
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.
The study is a source of reliable data on:
- Market segments and sub-segments
- Market trends and dynamics
- Supply and demand
- Market size
- Current trends/opportunities/challenges
- Competitive landscape
- Technological breakthroughs
- Value chain and stakeholder analysis
The regional analysis covers:
- North America (U.S. and Canada)
- Latin America (Mexico, Brazil, Peru, Chile, and others)
- Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
- Eastern Europe (Poland and Russia)
- Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
- Middle East and Africa (GCC, Southern Africa, and North Africa)
The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.
A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.
Highlights of the report:
- A complete backdrop analysis, which includes an assessment of the parent market
- Important changes in market dynamics
- Market segmentation up to the second or third level
- Historical, current, and projected size of the market from the standpoint of both value and volume
- Reporting and evaluation of recent industry developments
- Market shares and strategies of key players
- Emerging niche segments and regional markets
- An objective assessment of the trajectory of the market
- Recommendations to companies for strengthening their foothold in the market
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.