The artificial intelligence market is expected to grow at a CAGR 40.12% rate during the forecast period. Factors such as the increasing adoption of cloud-based applications and services, growing big data, and increasing demand for intelligent virtual assistants are expected to drive the market. The major restraint for the market is the limited number of AI technology experts.

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The market has been segmented into hardware, software, and services on the basis of offerings. The adoption of AI is rapidly increasing in various applications. As AI is a complex technology requiring the implementation of sophisticated algorithms, AI-based systems require deployment and integration, and support and maintenance services.

The prominent players in the Global artificial intelligence market are Intel (US), NVIDIA (US), Xilinx (US), Samsung (South Korea), Facebook (US), Micron Technology (US), IBM (US), Google (US), Microsoft (US), and AWS (US).

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