Press Release

Visiongain Ltd.

Artificial Intelligence (AI) Market Report Up to 2031

October 20th, 2021 12:00 AM

Visiongain has published a new report on Artificial Intelligence (AI) Market Report to 2031: Forecasts by solution (Hardware, Software, Services), by technology (Machine Learning, Natural Language Processing (NLP), Computer Vision, Context-Aware Computing), by industry vertical (Healthcare, BFSI, Manufacturing, Retail, Automotive & Transportation, Advertising & Media, Others). PLUS Profiles of Leading Artificial Intelligence Companies and Regional and Leading National Market Analysis. PLUS COVID-19 Recovery Scenarios.

Artificial intelligence is an advanced technology which provides several advanced features such as speech recognition, translation between languages, visual perception, and image recognition, among others. With providing decision-making ability across multiple industry vertical, the advanced AI technologies is continuously enhancing the performance of economies and accelerating the growth of businesses and different industries.

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Increased demand for hardware platforms with high computing power, massive growth in research & innovation conducted by the tech giants, and surge in growth of big data are some of the major factors driving the market growth. On the contrary, increased adoption of AI-powered industrial robots primarily among the developing economies and improving operational efficiency across several sectors are some of the major factors expected to provide lucrative opportunities to the market in the upcoming years.

COVID-19 Impact on Global Artificial Intelligence Market
With an unprecedented rise in COVID-19 health crisis, the demand for artificial intelligence technology has experience tremendous growth rate globally. In addition, the healthcare industry has largely benefited with artificial intelligence, as it helps in improving efficiency & accuracy in diagnostics, predictions, and treatments during the pandemic situation. Moreover, AI allows in originating & excavating the virus strain and further utilizes the data towards decision-making in estimating & scaling the test equipment production.

Market Drivers

Surge in growth of big data
with continuous rise in huge amount of data collected by large and small & medium sized enterprise, big data has developed rapidly which therefore accelerated the growth of AI technology in the market. As the development of big data technology depends on AI technology which uses several artificial theories & methods to handle data and generate insights.

Rise in demand for hardware platforms with high computing power
Due to increased demand for high computing power to run various AI software, the hardware platforms with high computing power are continuing to rise in the market. In addition AI applications especially in neural networks, computer vision, and machine learning are driving the market growth during the forecast period.

Market Opportunities

Increased adoption of AI-powered industrial robots

Several end use verticals have implemented AI-powered industrial robots and is expected to maintain its dominance during the forecast period. As the application of robotics provides multiple benefits such as sense & response towards specific object, high mobility power, process optimization, helps in improving customer services, and others. As a result, due to these multiple benefits provided by robotics technology, the demand for AI-powered industrial robots is expected to grow at a fastest CAGR growth rate.

Improving operational efficiency with an implementation of AI technology

The implementation of AI technology is improving operational efficiency in terms of reducing operational cost, improves production process, resolves customer service issues, and improves prediction accuracy, among others. Therefore, with these numerous benefits of AI technology, the key players have an opportunity to escalate the solutions & product offerings of AI in the upcoming years.

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How the Global Artificial Intelligence Market report helps you
In summary, our 400+ page report provides you with the following knowledge:

  • Revenue forecasts to 2031 for Global Artificial Intelligence Market, with forecasts for Solution, Technology, and Industry Vertical, each forecasted at a global and regional level- discover the industry’s prospects, finding the most lucrative places for investments and revenues.
  • Revenue forecasts to 2031 for 5 regional and 16 key national markets – See forecasts for the global artificial intelligence market in North America, Europe, Asia-Pacific and Rest of the World. Also forecasted is the market in the US, Canada, Argentina, Brazil, Germany, France, UK, Italy, Spain, China, India, Japan, and Australia among other prominent economies.
  • Prospects for established firms and those seeking to enter the market

Competitive Landscape
Some of the companies profiled in the report include Amazon Web Services, Baidu, Inc., Enlitic, Inc., Google, HyperVerge, Inc., IBM, Intel Corporation, Microsoft, Sensely, Inc., and Siemens of the major companies involved in the global artificial intelligence market. Some of the company’s profiled in this report include Anduril Industries, Ascent, Bright Machines, Inc., Brighterion, Inc., Clarifai Inc., CloudMinds, CognitiveScale, Graphcore,, iCarbonX, Pointr Limited, Qualcomm,, Inc., Tempus, and Unicsoft.

Recent Developments
in December 2019, Siemens, which is a German multinational conglomerate company has launched an AI-based assistants for magnetic resonance imaging for the healthcare sector. This new applications will ease the burden of routine activities for radiologists and improve quality of care for the patients

In June 2020, the Global Partnership on Artificial Intelligence (GPAI) was officially launched at the initiative of the G7 countries alongside Australia, India, Mexico, New Zealand, South Korea, Singapore, Slovenia and the European Union. In addition, this new development is an international initiative in order to guide the responsible development and use of AI, grounded in human rights, innovation, diversity, and economic growth.

Find quantitative and qualitative analyses with independent predictions. Receive information that only our report contains, staying informed with this invaluable business intelligence.

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Information found nowhere else
with our newly report title, you are less likely to fall behind in knowledge or miss out on opportunities. See how our work could benefit your research, analyses, and decisions. Visiongain’s study is for everybody needing commercial analyses for the Artificial intelligence market and leading companies. You will find data, trends and predictions.

Find more Visiongain research reports of Artificial Intelligence Sector click on the following links:

Do you have any custom requirements we can help you with? Any need for a specific country, geo region, market segment or specific company information? Contact us today, we can discuss your needs and see how we can

About Visiongain

Visiongain is one of the fastest growing and most innovative, independent, market intelligence around, the company publishes hundreds of market research reports which it adds to its extensive portfolio each year. These reports offer in-depth analysis across 18 industries worldwide. The reports cover a 10-year forecast, are hundreds of pages long, with in depth market analysis and valuable competitive intelligence data. Visiongain works across a range of vertical markets, which currently can influence one another, these markets include automotive, aviation, chemicals, cyber, defense, energy, food & drink, materials, packaging, pharmaceutical and utilities sectors. Our customized and syndicated market research reports means that you can have a bespoke piece of market intelligence customized to your very own business needs.


Catherine Walker
PR at Visiongain Inc.
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