India Artificial Intelligence (AI) Market: Overview and Analysis of Size, Share, and Forecast

India Artificial Intelligence (AI) Market: Overview and Analysis of Size, Share, and Forecast

May 06, 2024

The TechSci Research report on the "India Artificial Intelligence Market" forecasts significant growth in the Indian AI market driven by various factors such as increasing investments in research and development by IT giants and advancements in technology across different sectors. The adoption of AI is rapidly expanding, particularly in industries like healthcare and automotive, where AI-powered solutions contribute to life-saving medical products and self-driving capabilities in electric vehicles.

The market segmentation includes componenttechnologydeployment, and industry categories. Components encompass hardwaresoftware, and services, while technologies include machine learningnatural language processing, and others. Deployment options are categorized as cloud and on-premises, while industries span from IT & telecomhealthcareretail & e-commerce to manufacturingBFSI, and others.

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The manufacturing sector holds a significant portion of the market, benefiting from AI's ability to optimize operations and improve productivity on the production floor. With the emergence of intelligent manufacturing and digital factories driven by technologies like AI and the Internet of Things (IoT), the sector is witnessing significant advancements. AI-driven automation, predictive maintenance, and end-to-end control of operations are key drivers of growth in the manufacturing industry.

Key market players in the India artificial intelligence market include

  • Advanced Micro Devices
  • AiCure
  • Arm Limited
  • Atomwise, Inc.
  • Ayasdi AI LLC, Baidu, Inc.
  • Clarifai, Inc
  • Cyrcadia Health
  • Enlitic, Inc.
  • Google LLC

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The adoption of multi-cloud architecture and the increasing demand for cloud-based data services further fuel market growth. AI software helps bridge the gap between technology advancements and cloud computing, facilitating the development of hybrid AI cloud systems. This integration enhances data processing capabilities and addresses the needs of startups and enterprises alike.

Despite public unfamiliarity with AI, factors such as the COVID-19 pandemic's impact on healthcare facilities, rising automation trends, and the rapid adoption of machine learning are driving market expansion. The advancement of AI scenario planning and its potential to develop dynamic scenario-related models will further boost market growth.

In conclusion, the India artificial intelligence market is poised for substantial growth, propelled by advancements in technology, increasing automation trends, and the adoption of AI across various industries. The report provides valuable insights into market dynamics, trends, and opportunities, helping decision-makers make informed investment decisions in the evolving AI landscape.

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