UK Artificial Intelligence Market –Industry Analysis Market Size by Offering, Technology, End-User Industry, Industry-Wide Analysis, Competitive Landscape Assessment & Long-Term Forecast to 2026
Overview
UK Artificial Intelligence Market size is expected to grow at 22% throughout the forecast period, reaching nearly US$ 21.5 Bn. by 2026.
The report includes the analysis of impact of COVID-19 lock-down on the revenue of market leaders, followers, and disrupters. Since lock down was implemented differently in different regions and countries, impact of same is also different by regions and segments. The report has covered the current short term and long term impact on the market, same will help decision makers to prepare the outline for short term and long term strategies for companies by region.
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The UK Artificial Intelligence is segmented by offering (hardware, software, and services), technology (machine learning, natural language processing, context-aware computing, and computer vision), end-user industry (healthcare, manufacturing, automotive, agriculture, social media, financial services, others), and by Region (US, Canada)
Maximize Market Research, a global market research firm with a dedicated team of specialists and data has carried out extensive research about the current UK Artificial Intelligence Market outlook. The report encompasses the UK Artificial Intelligence Market by different segments and region, providing an in-depth analysis of the overall industry ecosystem, useful for making the informed strategic decision by the key stakeholders in the industry. Importantly, the report delivers forecasts and share of the market, further giving an insight into the market dynamics, and future opportunities that might exist in the UK Artificial Intelligence Market. The driving forces, as well as considerable restraints, have been explained in depth. In addition to this, competitive landscape describing the strategic growth of the competitors have been taken into consideration for enhancing market know-how of our clients and at the same time explain the market positioning of competitors.
UK GDP is expected to be around 10% higher because of artificial intelligence rising to a few billion in the upcoming years. AI has formed the biggest commercial opportunity in the fast-changing economy of UK. It has been observed that the majority of the UK’s economic gains are expected to come from the growing consumer demand from AI. It has worked on to drive a greater choice of products, increased personalization within these products along with making them extra affordable over time. It is also the labor productivity improvements resulting due to AI that will drive the GDP gains but to a comparatively lesser extent.
The potential size of the AI or artificial intelligence is huge and has the potential to transform the productivity as well as the GDP potential of the complete UK’s economy. For the UK to realize the potential gains from AI systems, firstly it needs to get adopted in a more responsible way helping the whole society to reap benefits from it. No sector or business over the world is immune from the potential impacts of AI. It is important for the UK to position itself at the front of the AI revolution further creating the right environment for existing as well as new businesses. This relates to innovation and making most of the product, productivity or the wage benefits that the AI technology might bring to the forefront.
In 2018, the average number of AI roles that were advertised in the UK was around 1,300 out of every million which is almost double the rate in Canada as well as 20% more than in the US. The regular demand for specialists having AI skills in the UK has practically tripled over the last few years. The AI Committee in the UK is helping the British government as well as other UK-based businesses men to streamline the businesses as AI gradually expands in both power and scope. The UK Artificial Intelligence Market holds a unique opportunity of shaping AI positively and has the potential to be a world leader in the advancement of this technology. In addition to this, people should educate themselves for working alongside AI, to safeguard future employment scenarios and to diversify the negative effects of technological unemployment.
Indeed, AI even after all the above advantages may introduce a host of new problems related to the potential risks that may restrain the growth of UK Artificial Intelligence Market. The AI committee formed in the UK is working on an ethical approach to ensure that the public trusts AI technology and understand the potential benefits of using it. It will further help in preparing for the challenge of being misused. The UK Artificial Intelligence Market has the potential to grow immensely and has thus formed a major growth factor for AI and will likely provide numerous opportunities in the future as well.
Scope of UK Artificial Intelligence Market: Inquire before Buying
•UK Artificial Intelligence Market, Offering
o Hardware
o Software
• UK Artificial Intelligence Market, Technology
o Machine Learning
o Natural Language Processing
o Context-aware computing
o Computer Vision
•UK Artificial Intelligence Market, End-User Industry
o Healthcare
o Manufacturing
o Automotive
o Agriculture
o Social Media
o Financial Services
o Others
Key Players operating in UK Artificial Intelligence Market
:
• Benevolent AI
• ARTIMUS
• DeepMind
• Darktrace
• Magic Pony Technology
• Onfido
• Five AI
• DiffBlue
• Starship Technologies
• Loop Me
• Tractable
• Cortexica
• Digital Genius
• Rainbird
• Cleo
• Echobox
• Kwiziq
• Status Today
• Synap
• Seldon