The report "Artificial Intelligence in Healthcare Market by Offering (Hardware, Software, Services), Technology (Machine Learning, NLP, Context-Aware Computing, Computer Vision), End-Use Application, End User, and Geography – Global Forecast to 2025" According to the latest market research report, the artificial intelligence in healthcare market is estimated to be valued at USD 2.1 billion in 2018 and is expected to reach USD 36.1 billion by 2025, at a CAGR of 50.2% from 2018 to 2025. The market has huge potential across various end users such as hospitals and providers, healthcare payers, and pharmaceutical and biotechnology companies. Increasingly large and complex data set available in the form of big data and growing need to reduce the increasing healthcare cost drive the growth of this market. Improving computing power and declining cost of hardware are other key factors driving the AI in healthcare market.

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Browse 103 market data Tables and 49 Figures spread through 216 Pages and in-depth TOC on "Artificial Intelligence in Healthcare Market by Offering (Hardware, Software, Services), Technology (Machine Learning, NLP, Context-Aware Computing, Computer Vision), End-Use Application, End User, and Geography – Global Forecast to 2025"

The major companies profiled in this report are NVIDIA (US), Intel (US), IBM (US), Google (US), Microsoft (US), AWS (US), General Vision (US), GE Healthcare (US), Siemens Healthineers (Germany), Medtronic plc (US). The market has active participation of start-ups. A few emerging companies in the market are CloudMedx (US), Imagia Cybernetics (Canada), Precision Health AI (US), and Cloud Pharmaceuticals (US).

Processor to hold largest market in hardware segment

Increasing need for hardware platforms with high computing power to run various AI software is the key factor accelerating the growth for hardware devices in the AI in healthcare market. Demand for high-computing processors to run AI algorithms continues to surge its growth in the hardware segment. The processor segment consists of MPUs, GPUs, FPGAs, and ASICs. In processors, GPUs are expected to foresee strong growth owing to high parallel computing capabilities, and the same is expected to continue in the coming years.

Context-aware computing to witness higher growth during forecast period

The development of more sophisticated hard and soft sensors has accelerated the growth of context-aware processing. Increased processing power, innovative sensing capabilities, and improved connectivity have resulted in the growth of context-aware processing systems. A few core healthcare applications include lifestyle management and monitoring, in-patient care and hospital management, and virtual assistant.

In-patient care & hospital management to hold significant market size in AI in healthcare market

Artificial Intelligence in planning and scheduling methods can offer substantial support to the management of hospitals and patient care, thereby improving administrative workflow assistance. AI-enabled bots is an AI application that patients can interact with through a chat window on a website or through a telephone. Applications such as scheduling appointments; checking insurance coverage parameters; instantly accessing information about drug interactions and side effects; collecting the latest information about patient medications, care team, and recent procedures; designing special diet plans for patients with dietary restrictions; and engaging with discharged patients to follow up on treatment plans and adherence are supported by these bots. These applications are expected to lead the growth of in-patient care and hospital management systems.
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