The global artificial intelligence market size is estimated to grow from USD 273.6 billion in the current year to USD 5.26 trillion by 2035, at a CAGR of 30.84% during the forecast period, till 2035.
Opportunities in the artificial intelligence market have been reviewed across the following segments:
Type of Offering
- Hardware
Software - Service
Type of Processing
- Cloud
- Edge
Type of Technology
- Computer Vision
- Context-Aware AI
- Experts Systems
- Machine Learning
- Natural Language Processing
- Robotics Process Automation
Type of Deployment
- Cloud-based
- On-Premises
Type of Application
- Automated Customer Service
- Fraud Detection & Risk Management
- Healthcare Diagnostics
- Marketing & Sales
- Predictive Analytics
- Robotics
- Supply Chain Optimization
Type of End User
- Automotive
- BFSI
- Energy & Utilities
- Government
- Healthcare
- Manufacturing
- Retail & E-Commerce
- Telecommunication
Geographical Regions
- North America
- US
- Canada
- Mexico
- Other North American countries
- Europe
- Austria
- Belgium
- Denmark
- France
- Germany
- Ireland
- Italy
- Netherlands
- Norway
- Russia
- Spain
- Sweden
- Switzerland
- UK
- Other European countries
- Asia
- China
- India
- Japan
- Singapore
- South Korea
- Other Asian countries
- Latin America
- Brazil
- Chile
- Colombia
- Venezuela
- Other Latin American countries
- Middle East and North Africa
- Egypt
- Iran
- Iraq
- Israel
- Kuwait
- Saudi Arabia
- UAE
- Other MENA countries
- Rest of the World
- Australia
- New Zealand
- Other countries
ARTIFICIAL INTELLIGENCE MARKET: GROWTH AND TRENDS
Artificial Intelligence (AI) refers to a wide area of computer science focused on developing machines that can execute tasks typically requiring human intelligence. This technology features various capabilities, including speaking, seeing, language comprehension and translation, and data analysis, marking it as one of the groundbreaking developments in the digital age. Additionally, it is worth mentioning that AI is a broad term that includes a variety of technologies, such as machine learning, deep learning, computer vision, and natural language processing.
As technology continues to evolve, AI is advancing quickly and is being widely adopted across almost all business sectors. Industries such as healthcare, finance, education, and manufacturing are utilizing this technology to enhance their data-driven processes and manage repetitive tasks, boosting the potential expansion of the global AI market. Throughout the years, the increasing implementation of industrial automation, the growing use of IoT devices, and ongoing technological progress have created new opportunities for industry participants. Consequently, stakeholders are making significant investments in AI research and development to address the evolving requirements of various sectors.
Driven by the rise of artificial general intelligence (AGI), the global artificial intelligence market is expected to grow at a healthy pace during the forecast period.
ARTIFICIAL INTELLIGENCE MARKET: KEY SEGMENTS
Market Share by Type of Offering
Based on the type of offering, the global artificial intelligence market is segmented into AI hardware, software, and service offerings. According to our estimates, currently, software segment captures the majority share of the market. This can be attributed to the wide range of applications, including natural language processing, computer vision, edge AI, machine learning, deep learning, and robotics, which are utilized across various sectors such as healthcare, automotive, and finance. However, cloud-based segment is anticipated to grow at a higher CAGR during the forecast period.
Market Share by Type of Technology
Based on the type of technology, the artificial intelligence market is segmented into computer vision, context-aware AI, experts systems, machine learning, natural language processing, and robotics process automation. According to our estimates, currently, machine learning segment captures the majority share of the market. This can be attributed to the fact that machine learning serves as a fundamental component of AI solutions, enabling the development of models that allow computers to learn from data, identify patterns, and make decisions. However, natural language processing segment is anticipated to grow at a higher CAGR during the forecast period.
Market Share by Type of Deployment
Based on the type of deployment, the artificial intelligence market is segmented into cloud-based and on-premises. According to our estimates, currently, cloud-based segment captures the majority share of the market; further, this segment is anticipated to grow at a higher CAGR in the future. This can be attributed to scalability and flexibility of cloud-based systems, allowing organizations to adjust AI resources based on their needs. Additionally, the cost-effectiveness of cloud-based options makes them increasingly popular and accessible to small and medium-sized enterprises with limited budgets, enabling them to take advantage of AI-as-a-service offerings at a manageable price.
Market Share by Type of Application
Based on the type of application, the artificial intelligence market is segmented into automated customer service, fraud detection & risk management, healthcare diagnostics, marketing & sales, predictive analytics, robotics, and supply chain optimization. According to our estimates, currently, marketing & sales segment captures the majority share of the market. This can be attributed to the prevalent use of AI technology for audience targeting and improving customer engagement. Additionally, companies are utilizing AI tools to enhance personalized marketing strategies and gain AI-driven customer insights and analytics. However, automated customer service segment is anticipated to grow at a higher CAGR during the forecast period.
Market Share by Type of End User
Based on the type of end user, the artificial intelligence market is segmented into automotive, BFSI, energy & utilities, government, healthcare, manufacturing, retail & e-commerce, telecommunication, and others. According to our estimates, currently, BFSI segment captures the majority share of the market. This can be attributed to its increased use of AI technology to optimize operations, manage large volumes of financial data, detect fraud, and provide personalized customer experiences. However, healthcare segment is anticipated to grow at a higher CAGR during the forecast period.
Market Share by Geographical Regions
Based on the geographical regions, the artificial intelligence market is segmented into North America, Europe, Asia, Latin America, Middle East and North Africa, and Rest of the World. According to our estimates, currently, North America captures the majority share of the market. However, market share in Asia is anticipated to grow at a higher CAGR during the forecast period.
Sample Players in Artificial Intelligence Market Profiled in the Report Include:
- Alibaba Cloud
- AMD
- Arrow AI
- AWS
- Baidu
- BMI
- Cisco
- DeepL
- Dilapad
- Glean
- HPE
- HQE System
- Huawei
- Inbenta
- Intel
- Meta
- Microsoft
- Moveworks
- NVIDIA
- OpenAI
- Oracle
- Qualcomm
- Salesforce
- SAP
- SAS Institute
- Siemens
- Spot AI
ARTIFICIAL INTELLIGENCE MARKET: RESEARCH COVERAGE
The report on the Artificial intelligence market features insights on various sections, including:
- Market Sizing and Opportunity Analysis: An in-depth analysis of the Artificial intelligence market, focusing on key market segments, including type of offering, type of technology, type of deployment, type of application, type of end user and geographical regions.
- Competitive Landscape: A comprehensive analysis of the companies engaged in the Artificial intelligence market, based on several relevant parameters, such as year of establishment, company size, location of headquarters, ownership structure.
- Company Profiles: Elaborate profiles of prominent players engaged in the Artificial intelligence market, providing details on location of headquarters, company size, company mission, company footprint, management team, contact details, financial information, operating business segments, artificial intelligence portfolio, moat analysis, recent developments, and an informed future outlook.
- SWOT Analysis: An insightful SWOT framework, highlighting the strengths, weaknesses, opportunities and threats in the domain. Additionally, it provides Harvey ball analysis, highlighting the relative impact of each SWOT parameter.
KEY QUESTIONS ANSWERED IN THIS REPORT
- How many companies are currently engaged in this market?
- Which are the leading companies in this market?
- What is the significance of edge AI in the Artificial intelligence market?
- What factors are likely to influence the evolution of this market?
- What is the current and future market size?
- What is the CAGR of this market?
- How is the current and future market opportunity likely to be distributed across key market segments?
- Which type of Artificial intelligence is expected to dominate the market?
REASONS TO BUY THIS REPORT
- The report provides a comprehensive market analysis, offering detailed revenue projections of the overall market and its specific sub-segments. This information is valuable to both established market leaders and emerging entrants.
- Stakeholders can leverage the report to gain a deeper understanding of the competitive dynamics within the market. By analyzing the competitive landscape, businesses can make informed decisions to optimize their market positioning and develop effective go-to-market strategies.
- The report offers stakeholders a comprehensive overview of the market, including key drivers, barriers, opportunities, and challenges. This information empowers stakeholders to stay abreast of market trends and make data-driven decisions to capitalize on growth prospects.
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Table of Contents
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Alibaba Cloud
- AMD
- Arrow AI
- AWS
- Baidu
- BMI
- Cisco
- DeepL
- Dilapad
- Glean
- HPE
- HQE System
- Huawei
- Inbenta
- Intel
- Meta
- Microsoft
- Moveworks
- NVIDIA
- OpenAI
- Oracle
- Qualcomm
- Salesforce
- SAP
- SAS Institute
- Siemens
- Spot AI
Methodology
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