India artificial intelligence
market is anticipated
to grow at a steady pace during the forecast period due to the increasing use of digital
technologies. Moreover, big companies are spending a lot of money on research
and development, which is driving the growth of the India Artificial Intelligence
Market.
Artificial intelligence (AI) refers to the
potential of a machine to mimic the capabilities of the human mind. It assists
in learning, planning, recognizing human-like speech, and solving problems
according to past experiences. It comprises hardware components, including
central processing unit (CPU), graphics processing unit (GPU),
field-programmable gate array (FPGA), and application-specific integrated
circuits (ASIC).
Growing
Healthcare Industry Help in Boosting Market Growth
AI
is emerging as a significant driving force in India's rapidly expanding
healthcare sector. The union of medical services and AI presents various
chances to reform patient consideration, further develop results, and improve
functional productivity. The adoption of AI and the expansion of its market in
India's expanding healthcare sector are influenced by a number of factors. Firstly,
India's large population, limited healthcare infrastructure in some areas, and
high disease burden present unique healthcare challenges. AI offers promising
approaches to these problems. The vast amount of patient data that can be
analyzed by machine learning algorithms, such as medical records, diagnostic
images, and genetic information, are used to identify patterns and anticipate
the progression of diseases. This information driven approach empowers early
recognition, customized therapy plans, and better administration of persistent
circumstances.
Furthermore,
there is a rising interest for customized medication in India. Targeted
therapies and precision medicine are now possible due to the advancements in
genomics and medical imaging. Complex genetic data can be analyzed by AI
algorithms to find specific biomarkers and make personalized treatment
recommendations for each patient. This approach upgrades treatment viability,
diminishes antagonistic impacts, and works on quiet results.
Additionally,
the healthcare industry generates a lot of data, including clinical research
data, medical images, and electronic health records. This data can be analyzed
by AI algorithms to find trends, patterns, and correlations, allowing
healthcare providers to make decisions based on data. Optimizing treatment
plans, predicting patient outcomes, and better allocating resources are all possible
applications of predictive analytics. Additionally, AI-enabled robotic process
automation improves operational efficiency, reduces paperwork, and streamlines
administrative tasks, which ultimately results in savings for healthcare
organizations.
In
conclusion, the developing healthcare industry in India is seeing the
transformative effect of AI. The appropriation of AI advances offers the
potential to overcome healthcare challenges, empower personalized
pharmaceuticals, improve further healthcare administrations, drive data-driven
decision-making, and make strides operational effectiveness. The demand for AI
and healthcare in India is driven by the need for inventive arrangements,
expanding persistent desires, and the want to progress healthcare results. With
progressing progressions and collaborations between healthcare suppliers,
innovation companies, and policymakers, the AI showcase within the Indian
healthcare industry is set to flourish, eventually profiting patients, and
changing the healthcare section.
Increasing
Internet of Technology (IoT) will drive the India artificial intelligence
market
The
expanding adoption of the IoT can be a significant driver for the artificial
intelligence market in India. IoT refers to the organize of interconnected
physical gadgets that collect and trade information. When combined with AI, IoT
makes an effective environment that empowers the computerization, examination,
and brilliant decision-making capabilities required for different businesses. In
India, the fast development of IoT gadgets and applications over segments such
as healthcare, farming, fabricating, transportation, and keen cities has made
endless sums of information. AI calculations can prepare and analyze this
information to extricate profitable bits of knowledge, recognize designs, and
make educated choices in real-time. This integration of IoT and AI permits
progressed operational effectiveness, prescient upkeep, asset optimization, and
upgraded client encounters.
For
occasion, in healthcare, IoT gadgets such as wearables, remote monitoring
systems, and connected medical devices create persistent information. AI
calculations can use this information to screen understanding wellbeing,
distinguish inconsistencies, and give timely interventions. Additionally, in
agriculture, IoT sensors and actuators can collect information on soil
moisture, temperature, and crop health, which can be analyzed by AI frameworks
to optimize water system plans, distinguish trim illnesses, and upgrade
abdicate. Besides, the Indian government’s initiatives such as Smart Cities
Mission and Digital India have quickened the deployment of IoT infrastructure
in urban and rural areas. This broad selection of IoT infrastructure has made fertile
ground for AI applications to flourish, creating new openings for businesses
and new companies within the AI advertise.
The
expanding adoption of IoT innovation in India can be a key driver for the AI
showcase. The combination of IoT’s data-generating capabilities with AI’s
progressed analytics and decision-making capabilities opens up new
possibilities for development and optimization over different divisions. As IoT
proceeds to grow its impression in India, the request for AI solutions that can
successfully handle and derive experiences from IoT-generated information is
anticipated to rise. Such factors will drive the growth of the artificial
intelligence market in India during the forecast period.
Growing
Agricultural and Manufacturing Sectors Lead to Market Growth
The
growth of the India artificial intelligence market is primarily driven by the
manufacturing and agricultural sectors. These industries, which are essential
to the Indian economy, are increasingly recognizing AI's potential to transform
operations, boost productivity, and spur innovation. Precision farming,
optimizing crop yields, and resource management are just a few of the many
advantages that AI offers farmers in the agricultural industry. AI algorithms
can provide real-time insights and recommendations by analyzing data from IoT
sensors, satellite imagery, weather patterns, and soil conditions. Farmers can
use computer-based intelligence fueled frameworks to settle on informed choices
regarding water system plans, manure application, bother control, and yield
wellbeing observing. By optimizing resource utilization, this not only promotes
sustainable agricultural practices but also reduces costs and increases yields.
Crop
disease and early pest identification can be helped by AI-powered image
recognition and computer vision techniques. AI algorithms can accurately
identify diseases and pests by analyzing images of plants and leaves. This
enables farmers to take preventative measures and minimize crop losses. This
adds to food security and supports the general development of the farming area
in India. In a similar vein, AI technologies are driving a transformation in
India's manufacturing sector. Computer-based intelligence-controlled
mechanization, advanced mechanics, and prescient support are upsetting
assembling cycles and store network the board. Manufacturers can improve
product quality, reduce downtime, increase production efficiency, and optimize
inventory management by implementing AI.
Predictive
analytics powered by AI assists businesses in forecasting demand, enhancing
production schedules, and streamlining inventory levels. As a result, costs are
reduced, operational efficiency is improved, and customer satisfaction is
raised. Besides, computer-based intelligence empowered advanced mechanics and
mechanization frameworks are being sent in sequential construction systems and
distribution centers, further developing efficiency and laborer wellbeing. Horticulture
and assembling areas in India are huge supporters of the development of the
artificial intelligence market. The reception of computer-based intelligence
advancements in these areas improves efficiency, upgrades asset usage, and
drives development. As the Indian government advances digitalization and
innovation reception in these areas, the interest for simulated intelligence
arrangements is supposed to increase, which, in turn, will drive the growth of
the artificial intelligence market in India during the forecast period.
Recent
Developments
- In February 2023, the Public
authority of India expressed that with the two targets of making simulated
intelligence in India and making artificial intelligence work for India,
it was extending the INDIAai drive banding together with India-based tech
organizations, new businesses, and scholastic foundations. The public
simulated intelligence entrance of India (INDIAai) is a joint endeavor by
MEITY, NEGD, and NASSCOM. It was established to prepare India for the
future of AI.
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Market
Segmentation
The India artificial intelligence market is divided into component,
technology, industry, and deployment. Based on component, the market is divided
into hardware, software, and services. Based on technology, the market is
segmented into machine learning, natural language processing, and others. Based
on deployment, the market is segmented into cloud and on-premises. Based on industry,
the market is segmented into IT & telecom, healthcare, retail &
e-commerce, logistics and transportation, manufacturing, consumer electronics,
BFSI, and others.
Market Players
Major market players in the India artificial
intelligence market are Advanced Micro
Devices, AiCure, Arm Limited, Atomwise, Inc., Ayasdi AI LLC, Baidu, Inc.,
Clarifai, Inc, Cyrcadia Health, Enlitic, Inc., and Google LLC.
|
Attribute
|
Details
|
|
Base Year
|
2023
|
|
Historic Data
|
2019 –
2022
|
|
Estimated Year
|
2024
|
|
Forecast Period
|
2025
– 2029
|
|
Quantitative Units
|
Revenue in USD Million, and CAGR for 2019-2023 and 2024-2029
|
|
Report coverage
|
Revenue
forecast, company share, growth factors, and trends
|
|
Segments covered
|
Component
Technology
Deployment
Industry
|
|
Region scope
|
West,
North, South, East
|
|
Key companies profiled
|
Advanced Micro
Devices, AiCure, Arm Limited, Atomwise, Inc., Ayasdi AI LLC, Baidu, Inc.,
Clarifai, Inc, Cyrcadia Health, Enlitic, Inc., Google LLC
|
|
Customization scope
|
10% free
report customization with purchase. Addition or alteration to country,
regional & segment scope.
|
|
Pricing and purchase options
|
Avail customized purchase options to meet your exact research
needs. Explore purchase options
|
|
Delivery Format
|
PDF
and Excel through Email (We can also provide the editable version of the
report in PPT/Word format on special request)
|
Report
Scope:
In this
report, the India Artificial Intelligence Market has been segmented into
following categories, in addition to the industry trends which have also been
detailed below:
- India Artificial Intelligence
Market, By Component:
- Hardware
- Software
- Services
- India Artificial Intelligence
Market, By Technology:
- Machine Learning
- Natural Language Processing
- Others
- India Artificial Intelligence
Market, By Deployment:
- India Artificial Intelligence
Market, By Industry:
- IT & Telecom
- Healthcare
- Retail & E-Commerce
- Logistics and Transportation
- Manufacturing
- Consumer Electronics
- BFSI
- Others
- India Artificial Intelligence
Market, By Region:
Competitive
Landscape
Company
Profiles: Detailed analysis of the major companies
present in the India artificial intelligence market.
Available
Customizations:
India artificial
intelligence market report with the given market data, Tech Sci Research
offers customizations according to a company's specific needs. The following
customization options are available for the report:
Company
Information
- Detailed analysis and profiling of
additional market players (up to five).
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intelligence market is an upcoming report to be released soon. If you wish an
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