Global Artificial Intelligence Market (2023-2028) Competitive Analysis, Impact of Covid-19, Ansoff Analysis

Artificial Intelligence Will Drive Innovations and Impact Across Various Industries in the Coming Years

The Global Artificial Intelligence Market is estimated to be USD 160.75 Bn in 2023 and is expected to reach USD 493.72 Bn by 2028 growing at a CAGR of 25.16%.

The increasing adoption of autonomous artificial intelligence (AI) is driving the growth of the Artificial Intelligence Market. This trend is fueled by algorithms, machine learning techniques, and natural language processing advancements, enabling the development of sophisticated autonomous AI systems. These systems offer improved accuracy and reliability, attracting organizations from various industries. Autonomous AI optimizes operations, leading to cost savings and enhanced productivity. It finds healthcare, finance, manufacturing, transportation, and retail applications. The cost reduction associated with autonomous AI, driven by automation, further drives its adoption. As technology advances and more industries recognize its benefits, the Artificial Intelligence (AI) Market size is poised for expansion, fostering innovation and new opportunities.

Data availability and quality play a crucial role in restraining the growth of the Artificial Intelligence Market. Limited data availability, particularly in niche industries or specialized domains, hinders the development and application of AI solutions. AI algorithms lack the necessary training to make accurate predictions and decisions without access to comprehensive and diverse datasets. Moreover, the quality of data is vital for the effectiveness of AI systems. Inaccurate, incomplete, or biased data leads to flawed outcomes and unreliable AI models. Ensuring data quality requires meticulous data cleaning, preprocessing, and validation processes, which are time-consuming and resource-intensive.

Market Segmentations

• The Global Artificial Intelligence Market is segmented based on Offerings, Technology, Function, Vertical, and Geography.
• The global Artificial Intelligence (AI) market can be divided into segments based on technology and business function. Regarding technology, the market encompasses Machine Learning, Natural Language Processing, Context Awareness, and Computer Vision. Machine Learning involves the development of algorithms that enable AI systems to learn and make predictions from data. Natural Language Processing focuses on AI's ability to understand and interact with human language, enabling applications like chatbots and translation. Context Awareness empowers AI systems to understand their surroundings, which is crucial for applications in smart homes and autonomous vehicles. Computer Vision enables AI to interpret and analyze visual information, supporting facial recognition and image analysis applications.

Recent Development

• WiseTech Global announced its acquisition of Blume Global, a leading solution provider facilitating intermodal rail in North America. - Feb 2023

Company Profiles

The report provides a detailed analysis of the competitors in the market. It covers the financial performance analysis for the publicly listed companies in the market. The report also offers detailed information on the companies' recent development and competitive scenario. Some of the companies covered in this report are Accenture, Adobe, Aera Technology, Alibaba Group, Amazon Web Services (AWS), Apple, etc.

Countries Studied

• America (Argentina, Brazil, Canada, Chile, Colombia, Mexico, Peru, United States, Rest of Americas)
• Europe (Austria, Belgium, Denmark, Finland, France, Germany, Italy, Ireland, Luxembourg, Netherlands, Norway, Poland, Russia, Spain, Sweden, Switzerland, United Kingdom, Rest of Europe)
• Middle East and Africa (Egypt, Israel, Qatar, Nigeria, Saudi Arabia, South Africa, United Arab Emirates, Rest of MEA)
• Asia-Pacific (Australia, Bangladesh, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Sri Lanka, Thailand, Taiwan, Rest of Asia-Pacific)

Competitive Quadrant

The report includes Competitive Quadrant, a proprietary tool to analyse and evaluate the position of companies based on their Industry Position score and Market Performance score. The tool uses various factors for categorizing the players into four categories. Some of these factors considered for analysis are financial performance over the last 3 years, growth strategies, innovation score, new product launches, investments, growth in market share, etc.

Ansoff Analysis

• The report presents a detailed Ansoff matrix analysis for the Global Artificial Intelligence Market. Ansoff Matrix, also known as Product/Market Expansion Grid, is a strategic tool used to design strategies for the growth of the company. The matrix can be used to evaluate approaches in four strategies viz. Market Development, Market Penetration, Product Development and Diversification. The matrix is also used for risk analysis to understand the risk involved with each approach.
• The publisher analyses the Global Artificial Intelligence Market using the Ansoff Matrix to provide the best approaches a company can take to improve its market position.
• Based on the SWOT analysis conducted on the industry and industry players, the publisher has devised suitable strategies for market growth.

Why buy this report?

• The report offers a comprehensive evaluation of the Global Artificial Intelligence Market. The report includes in-depth qualitative analysis, verifiable data from authentic sources, and projections about market size. The projections are calculated using proven research methodologies.
• The report has been compiled through extensive primary and secondary research. The primary research is done through interviews, surveys, and observation of renowned personnel in the industry.
• The report includes an in-depth market analysis using Porter's 5 forces model, PESTLE Analysis, and the Ansoff Matrix. In addition, the impact of COVID-19 and the impact of economic slowdown & impending recession on the market are also featured in the report.
• The report also includes the regulatory scenario in the industry, which will help you make a well-informed decision. The report discusses major regulatory bodies and major rules and regulations imposed on this sector across various geographies.
• The report also contains the competitive analysis using Positioning Quadrants, the Proprietary competitive positioning tool.

Report Highlights

• A complete analysis of the market, including parent industry
• Important market dynamics and trends
• Market segmentation
• Historical, current, and projected size of the market based on value and volume
• Market shares and strategies of key players
• Recommendations to companies for strengthening their foothold in the market