Process Industries to Spark Demand in Global Artificial Intelligence Market Owing to Greater Adoption of Renewable Energy


Published Date : Mar 14, 2017

ALBANY, New York, March 14, 2017: MarketResearchReports.biz has recently announced the addition of a report, titled, “Global Artificial Intelligence Market In The Industrial Sector 2017-2021” to its offering. The report discusses the key trends, growth drivers, opportunities, and restraints of the market. The market attractiveness, leading segments, and competitive landscape have also been analyzed in the report. 

The emergence of deep learning technology is expected to drive the global artificial intelligence market. Being an advanced version of artificial intelligence, this software is capable of mimicking the human neocortex, a part of the brain that is associated with hearing and sight. Easy recognition of images, sounds, and other data enabled by this product is a major factor contributing towards its high adoption rate over the next few years. Modelling of multiple neural networks as well as virtual neurons is possible with this software. This has resulted in its increasing popularity over various end-user industries. 

Moreover, the use of artificial intelligence in the combating of rising menace of cyber threats is likely to provide substantial opportunities to market players. Artificial intelligence can aid in curbing cyber security threats through the tackling of failure of signature-based techniques and firewall. Scalability challenges and vast volumes of security threat data are some other issues addressed by this software. 

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By end user, the global artificial intelligence market has been broadly segmented into discrete industries and process industries. In 2016, the process industries segment claimed maximum share of the global artificial intelligence market. The switch from non-renewable energy sources to renewable power generation has been the major reason for the dominance of this segment. Several wind and solar power projects are expected to propel growth witnessed in the market further. 

Based on geography, the global market for artificial intelligence has been segmented into the APAC, Europe, the Middle East, and Africa (EMEA), and the Americas. The Americas achieved a major share of the global market for artificial intelligence in 2016. This region, driven by absence of blue-collar workers and high labor costs, is likely to maintain its dominance in the global market. Asia Pacific is slated to grow substantially, with increasing technological advancements and productive government policies boosting market expansion. 

Some of the major companies operating in the global artificial intelligence market are Siemens, Amazon Web Services, Omron Adept Technologies, Inc., and IBM. Other prominent players include Didi Chuxing, eBay, Nuance Communications, Anki, Enlitic, Digital Reasoning, Leap Motion, Humanoid, Jenzabar, Gridspace, NICE, Enefy, Converge Venture Partners, Salesforce, Gradberry,

PandaWhale, ALEKS, Scaled Inference, CrowdFlower, Facebook, Quantum Simulations, Pearson, Viv, Twitter, Oracle, MIND Research Institute, Nokia, eDreams, Quid, and Google. A large number of market players have been striving to expand their market presence through various business strategies such as product launches, mergers, acquisitions, and partnerships. 

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