Autonomous robots and intelligent virtual assistants to have highest CAGR in AI applications from 2014-2019, says MIC
Press release; Alex Wolfgram, DIGITIMES [Monday 2 February 2015]
Artificial Intelligence (AI) plays a pivotal role in Internet of Things (IoT) as it can be applied to a myriad of smart connected products, such as lighting, cars, wearables, medical care, smartphones, and smart home sensing control devices. In 2019, market value of expert systems is expected to surge to around US$7.1 billion - the highest among all applications - followed by US$3.6 billion in the autonomous robot market, US$2.2 billion in the intelligent virtual assistant market, US$1.6 billion in the neural network market, and US$877 million in the smart embedded system market, according to MIC.
"Between 2014-2019, intelligent virtual assistant market is expected to have a CAGR of 30%, followed by neural network's 26.4%, autonomous robot's 22.8%, smart embedded system's 15.8%, and expert system's 15%," said David Chen, MIC senior analyst.
For vendors planning to enter the AI application market, it is important to keep an eye on the autonomous robots and intelligent virtual assistants markets. Particularly, they can start research and development on key components and software solutions, such as smart sensors, neuromorphic processors, smart image/voice recognition systems, cognitive computing OS, as well as cloud analysis and services, MIC said.
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