According to the a new report published with the racy title "Artificial Intelligence Systems Spending Market: Global Industry Analysis (2012 - 2016) and Opportunity Assessment (2017 - 2027)" revenue growth from about $ 11.7 billion in 2017 to nearly $ 516.2 billion by 2027 end, resulting in a CAGR of 46.1 percent over the forecast period.

The global artificial intelligence systems spending market is segmented on the basis of industry type (BFSI, Discrete & Process Manufacturing, Healthcare, Retail, Wholesale, Professional & Consumer Service, Transportation, Media & Entertainment, Telecommunications & Utilities, Government, Education, Others (Construction, Resource Industries)), on the basis of technology (Deep Learning, Machine Learning, Natural Language Processing, Machine Vision, AGI, ASI) and on the basis of market (hardware, software, services).

This year the BFSI segment is valued at $ 3,081.5 million, and is expected to register a CAGR of 48.6 percent over the forecast period, to be valued at US$ 161,525.7 million by the end of 2027.The healthcare segment is valued at $1,321.1 million, and is expected to register a CAGR of 45.7 percent over the forecast period, to be valued at $ 56,943.1 million by the end of 2027. The retail segment is valued at $1,647.1 Million, and is expected to see a CAGR of 46.5 percent over the forecast period, to be valued at $75,128.9 million by the end of 2027.The deep learning segment is estimated to be valued at $ 4,758.4 million, and is expected to register a CAGR of 49.3 percent over the forecast period, to be valued at US$ 262,031.6 million by the end of 2027.The machine learning segment is estimated to be valued at US$ 2,784.5 million, and is expected to exhibit a CAGR of 46.6 percent over the forecast period, to be valued at $ 127,790.1 million by the end of 2027.The hardware segment is estimated to be valued at US$ 4,841.1 million, and is expected to register a CAGR of 43.9 percent over the forecast period, to be valued at $183,734.3 million by the end of 2027.

The North America artificial intelligence systems spending market is estimated to be valued at $ 3,197.1 million in the year 2017 and is estimated to touch a value of $133,620.3 Million in the year 2027, exhibiting a CAGR of 45.2 percent during the assessment period. The APEJ artificial intelligence systems spending market is estimated to be valued at $ 2,527.1 million in the year 2017 and is estimated to touch a value of $132,964.7 million in the year 2027, registering a CAGR of 48.6 percent during the assessment period.

The report profiles names the key market players operating in the global artificial intelligence systems spending market. There are the usual suspects of Google, Microsoft, Facebook, IBM, Apple, Amazon, Intel but also Infosys, Wipro, Salesforce and IPsoft.

“The key differentiating strategy of these market players is to strengthen their portfolio through high investment for innovation to launch new artificial intelligence solutions and accelerate their businesses”, the report said.