Artificial Intelligence Market Expected to Grow to $118.6 U.S. billion by 2025
The artificial intelligence market is no joke. With revenues increasing from $9.5 billion U.S. in 2018 to an expected $118.6 billion by 2025, the AI m …
The artificial intelligence market is no joke. With revenues increasing from $9.5 billion U.S. in 2018 to an expected $118.6 billion by 2025, the AI market is aggressively growing. According to Tractica, the AI market includes a variety of applications such as: natural language processing, robotic process automation, and machine learning.
Companies with the most artificial intelligence patents
Even big tech companies are hopping on the bandwagon, investing heavily into both acquisitions and related research and development. Companies like Microsoft, IBM, Google and Samsung have submitted thousand of AI patent applications.
At the top of the list in terms of artificial intellegence related patents is Microsoft, which owns 18,365 as of January 2019. IBM comes in second with 15,046 and Samsung is in third with 11,243.
In fact, in 2018 alone there were 78, 085 patent applications per year, a huge difference compared to the 22,913 filed in 2008.
AI startup funding breaking records
The tech industry isn't the aren't the only ones raking in billions of dollars with artificial intelligence.
In fact according to CB Insights, AI startups brought in $7.4 billion in funding in the second quarter of 2019. That is the single highest amount ever in a quarter.
On top of that, the number of deals grew, rising in step with the money raised. In the same quarter there were 488 AI deals, the second-highest number in a giver quarter.
Overall, artificial intelligence startups have immense support by the venture capital industry. In fact, in 2015 AI startups collectively brought in just over $1 billion,this means that in just four years funding grew by 592 percent.
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