UK Artificial Intelligence market is estimated to grow significantly at a CAGR of 35.9% during the forecast period. UK is the 3rd largest economy after Germany and France in Europe. The digitalization of banking, insurance, healthcare, and business services in the country is the key driver for the growth of the AI in the country. The country has a well-developed infrastructure of ICT. The increasing number of start-ups will significantly contribute to the growth of the AI market in UK. Some of the start-ups working significantly in the AI sector include Onfido and Medopad. These start-ups have received impressive funding in past years. For instance, Onfido, an AI company has received Series B funding of around $25 million in 2016, led by Idinvest Partners. Further, in 2017, the company received $30 million, led by Crane Venture Partners.
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The market is segmented on the basis of offering, end-user industry, and country. Based on offering, the market is divided into software & services and hardware. The market for software and services was the highest market during the forecast period. Based on the end-user industry, the market is segmented into manufacturing, automotive, IT and BFSI, healthcare, e-commerce & logistics, home appliances, and others.
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UK Artificial Intelligence Market Market Segmentation
• Software & Services
By End-User Industry
• IT and BFSI
• E-Commerce & Logistics
• Home Appliances
• Other (Agriculture, Energy & Utilities, Media & Entertainment, Education)
• Apple Inc.
• Babylon Health
• Cambridge Cognition
• DeepMind Technologies
• Desktop Genetics Ltd.
• Google LLC
• IBM Corp.
• Microsoft Corp.
• Oracle Corp.
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