Today Tractica announced the launch of its new Artificial Intelligence Advisory Service, a subscription-based market research and analysis suite that provides independent and objective market intelligence and strategy insights for companies engaged in the rapidly evolving artificial intelligence (AI) market. As part of the service, Tractica’s global industry analyst team provides strategic and quantitative analysis focused on the market opportunity for AI technologies in enterprise, consumer, and government markets.
“Artificial intelligence technologies are already beginning to have a disruptive effect on established business models across virtually every industry, while simultaneously enabling new business processes that were not previously possible,” says managing director Clint Wheelock. “Rapid advances in AI technologies like deep learning, machine learning, computer vision, and natural language processing (NLP) are being enabled by more powerful hardware, sophisticated algorithms, and a virtually limitless ocean of data to analyze and interpret.”
As part of its Artificial Intelligence service, Tractica’s industry analysts offer timely and actionable market insights, covering specific technology and industry sectors as well as overall market conditions and trends. Research reports include an in-depth examination of AI business models, use cases, technology issues, and key industry players in addition to detailed market sizing, segmentation, and forecasts.
A few of Tractica’s key forecasts and analytical insights about the emerging AI market include the following:
- Worldwide AI revenue will grow from $643.7 million in 2016 to $36.8 billion by 2025, representing a compound annual growth rate (CAGR) of 56.8%. North America will lead the wave of AI adoption, but in the coming years, growth rates will accelerate in other regions such as Europe and Asia Pacific.
- Tractica analysts have identified 191 real-world use cases for AI, organized into 27 different industry sectors and corresponding with six major technology categories, plus multiple combinations of technologies.
- The largest technology segment will be deep learning, which will represent 44% of total AI revenue during the period from 2016 through 2025. Other key technology areas will include machine learning, NLP, and computer vision.
- The top 5 industry sectors for AI adoption within the next decade will be: (1) Consumer Products and Services, (2) Business Services, (3) Advertising, (4) Defense, and (5) Media & Entertainment. Other notable industry verticals will include Finance & Investment, Healthcare, Manufacturing, and Agriculture.
- The computer vision hardware and software market will reach $48.6 billion by 2022, led by a surge in automotive and consumer applications, but also including strong growth in robotics and security.
- Virtual digital assistant (VDA) unique active users in the consumer market will grow from 390 million in 2015 to 1.8 billion worldwide by the end of 2021. During the same period, unique active enterprise VDA users will rise from 155 million in 2015 to 843 million by 2021.
- The adoption of AI-based software systems will drive significant levels of hardware sales including cloud services, central processing units (CPUs), graphics processing units (GPUs), network products, and storage devices.
- Likewise, AI implementations will fuel a significant market for professional services including installation, training, customization, application integration, and support & maintenance.
Tractica’s Artificial Intelligence Advisory Service examines use cases and business models for the application of artificial intelligence technologies in enterprise, consumer, and government markets. Research focus includes analysis of technology trends that are driving the development of more robust cognitive technologies, the use cases and value propositions for artificial intelligence in specific industries, and the key industry players who are shaping the next stage of market evolution. Granular market sizing, segmentation, and forecasting models provide industry participants with an objective assessment of the business opportunity for artificial intelligence software, as well as the hardware and professional services that will enable the software deployments. The service includes access to more than eight of the firm’s research reports per year, in addition to unlimited analyst inquiry access, quarterly conference calls, and a full-day onsite strategic advisory session. Executive summaries and further information about the Advisory Service are available for free download on Tractica’s website.