According to the latest IMARC Group report titled “Indian artificial intelligence market: Industry Trends, Share, Size, Growth, Opportunities and Forecasts 2021-2026,“The Indian artificial intelligence market is expected to show robust growth between 2021 and 2026.
Artificial intelligence (AI) refers to a technological solution concerned with building intelligent machines capable of performing tasks that require human intelligence, speech recognition, translation, and decision-making based on past experiences. It offers automation, minimizes errors, manages repetitive tasks, processes large amounts of data and delivers meaningful insights.
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Artificial Intelligence Market Trends in India:
AI is used in the automotive industry to manufacture various vehicle components. Along with increasing demand for autonomous, hybrid and electric vehicles (H/EVs) due to growing concerns about CO2 emissions, this represents one of the main factors fueling market growth in India. Additionally, the increasing adoption of cloud-based solutions to analyze big data, improve overall operational efficiency, and improve user experience in organizations, coupled with significant growth in information technology (IT), are contributing to the market growth. Apart from that, rapid digitization, increasing purchasing power of individuals, busy lifestyles and the growing prevalence of smartphones with high-speed internet connection are driving the demand for online applications. Along with the thriving e-commerce industry, this creates positive prospects for the market in the country.
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Breakdown by type:
- Narrow/weak artificial intelligence
- General/strong artificial intelligence
Separation by offer:
Separation by technology:
- machine learning
- Natural Language Processing
- Context Aware Computing
- computer vision
Breakdown by system:
- intelligence systems
- Decision Support Processing
- hybrid systems
- fuzzy systems
Breakdown by End User Industry:
- retail trade
- human resources
- financial services
- transportation and logistics
Breakdown by region:
- north india
- West and Central India
- south india
- east indies
The competitive landscape of the industry has also been studied along with the profiles of the major players.
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