AI in Healthcare segment is expected to create new revenue pockets owing to the rising potential of AI technology in drug delivery, imaging & diagnostics among others.
The global Artificial Intelligence (AI) market is expected to reach USD 310.8 bn by 2027, growing at a CAGR of 40.1% during the forecast year (2021-2027). The market has witnessed a double digit CAGR growth in the market owing to the growing number of enterprises and increasing competition among them, companies are rigorously trying to integrate artificial intelligence (AI) technology within their applications, businesses, analytics, and services.
The AI in healthcare segment is expected to grow with a lucrative growth rate of 30.3% during the forecast period (2021-2027). Bots and digital assistants, machine learning frameworks, cognitive computing APIs, and fully managed machine learning services are major opportunities for the AI market, toward which industries are mainly investing. Major players operating in the market includes IBM, Intel, Microsoft, Google, Amazon Web Services, Oracle, Salesforce, SAP, SAS, Cisco, Siemens, NVIDIA, along with numerous start-ups that are offering enhanced Artificial Intelligence (AI) software solutions & services to cater to the needs of customers.