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.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players 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.