Analysts project military AI market will reach $18.82 billion by 2025News
March 28, 2018
NORTHBROOK, Ill. The military market for artificial intelligence (AI) -- valued at $5.54 billion in 2016 -- is projected to reach $18.82 billion by 2025, according to a new study published by MarketsandMarkets titled "Artificial Intelligence in Military Market by Offering (Software, Hardware, Services), Technology (Learning & Intelligence, Advanced Computing, AI Systems), Application (Information Processing, Cyber Security), Platform, Region - Global Forecast to 2025."
Artificial intelligence, as used in the military arena and defined in the market study, helps personnel to cull and aggregate information that is then used to help military personnel to recognize patterns and derive correlations in data sets. The processed information is used for further investigation with machine learning or deep learning tools.
The compound annual growth rate (CAGR) of 14.75 percent during the forecast horizon, according to the forecast, will be driven by increased investment to expand AI integrated systems and the growing adoption of cloud-based applications.
In terms of country, the military AI market in China, according to the analysis, is expected to grow at the highest CAGR from 2017 to 2025; the increase can be credited to the incorporation of AI technology into warfare systems, advances in AI-based weapon technology, and modernization programs conducted by the defense forces of China.
For more information visit the MarketsandMarkets website.