Category: Information Systems
Rising adoption of mobility technology, increasing awareness about smart technologies among end users, increased spending on IoT technologies in industries and rising mobile subscriber base are a few growth driving factors in the Worldwide Internet of Things (IoT) Managed Services Market.
Rising demand for data-driven solutions, increasing digital banking trends, fast-changing regulatory & compliance laws, fraud detection, and enhancing customer experience are expected to drive the market growth. The AI technologies such as Machine Learning, Deep Learning, Natural Language Processing, Image and video processing are expected to boost the AI implementation in the BFSI industry.
Increasing cost of healthcare, technological advancement, ageing population, and rising chronic diseases are driving the growth of artificial intelligence in healthcare. The leading technology segment - Natural Language Processing - is expected to grow at a CAGR of 61.6% and reach $487.7 million by 2022.
Increasing traffic congestion & road accidents and integration of infrastructure with technology are driving the growth of smart roads and bridges market; the leading technology segment - transportation management system is expected to grow at a CAGR of 23.7%.
Increasing demand for videos, biometric sensors, artificial intelligence (AI), and mobile & web applications is expected to drive the emotion analytics market. AI is the leading technology which is expected to grow at a CAGR of 83.9% during the forecast period and will drive the worldwide emotions analytics market to reach $1,711 million by 2022.