Artificial Intelligence Services Market Report 2020: Covid-19 Impact Analysis and Trends

Strategic Insights -

The report by The Business Research Company provides a comprehensive analysis of the global artificial intelligence services market, covering its segments by technology and end-user, as well as regional and country breakdowns. The report highlights trends such as the increasing use of natural language processing (NLP) for human interaction with machines, and provides insights into the competitive landscape and key mergers and acquisitions in the market.

Key Takeaways:

  • The global artificial intelligence services market is expected to grow from $21.4 billion in 2019 to $23.4 billion in 2020, at a compound annual growth rate (CAGR) of 9.4%.
  • The market is segmented by technology into machine learning, computer vision, natural language processing (NLP), and others, with NLP being a key trend shaping the market.
  • The use of artificial intelligence as a service for human interaction with machines using NLP is a key driver of growth in the market, as it enables companies to overcome language barriers and improve customer service.
  • The report highlights the competitive landscape of the market, including company profiles and financial performances of major players such as Microsoft Corp., SAP SE, and SAS Institute Inc.
  • Regional and country breakdowns show that the Asia-Pacific region is expected to be the largest market for artificial intelligence services, followed by Western Europe and North America.
  • The report also provides insights into the key mergers and acquisitions in the market, including the acquisition of companies such as IBM's acquisition of Red Hat and Microsoft's acquisition of LinkedIn.

Statistics:

  • The global artificial intelligence services market is expected to grow from $21.4 billion in 2019 to $23.4 billion in 2020, at a CAGR of 9.4%.
  • The market is expected to reach $93.8 billion by 2025, at an annual growth rate of 21.1%.
  • The Asia-Pacific region is expected to account for the largest share of the market, with a value of $8.1 billion in 2020, followed by Western Europe and North America.
  • The report highlights the importance of natural language processing (NLP) in shaping the market, with the use of machine translation being a key driver of growth.

Sources:

  • The Business Research Company. Artificial Intelligence Services Market Global Report 2020: Covid-19 Impact Analysis and Trends. Published July 2020.
  • The Business Research Company. Sample Report. Artificial Intelligence Services Market Global Report 2020: Covid-19 Impact Analysis and Trends. Request a sample report.
  • Microsoft Corp. Financial Performance.
  • SAP SE Financial Performance.
  • SAS Institute Inc. Financial Performance.