Artificial Intelligence Market Expands with Software Segment at a robust CAGR of 40.71%
The
increasing global artificial intelligence market is driven by advancements in
machine learning and deep learning, increased computing power and cloud services
during the forecast period 2024-2028
According
to TechSci Research report, “Global
Artificial Intelligence Market - Global Industry Size, Share, Trends,
Opportunity, and Forecast 2018-2028, The global artificial intelligence
(AI) market is undergoing a profound evolution, characterized by remarkable
growth and pervasive influence across diverse industries. AI, encompassing
machine learning, natural language processing, and robotics, has become a
cornerstone of technological innovation. Advancements in machine learning
algorithms, particularly within the realm of deep learning, are propelling the
market forward, empowering AI systems to learn and make intelligent decisions
autonomously. This progress is further augmented by the increasing availability
of robust computing power and cloud services, providing the infrastructure
necessary for AI development and deployment.
North
America emerges as a stronghold in the global AI landscape, fueled by its
innovation hubs, substantial investments, and the presence of industry leaders
and startups. The region's dynamic ecosystem facilitates collaborative efforts
in AI research, development, and application. However, challenges such as
ethical concerns, interoperability issues, and evolving regulatory frameworks
pose ongoing considerations for the responsible development and deployment of
AI technologies.
The
healthcare sector experiences a notable impact from AI, with applications
ranging from diagnostics and predictive analytics to personalized medicine.
Beyond healthcare, AI's influence extends into customer service, manufacturing,
finance, and more, redefining operational paradigms. Automation driven by AI is
reshaping industries, optimizing processes, and enabling data-driven
decision-making on an unprecedented scale.
As
the AI market continues to advance, talent development plays a crucial role in
meeting the growing demand for skilled professionals. Collaboration and
strategic partnerships are key components, fostering an environment where
innovation thrives. The trajectory of the global AI market underscores the
transformative potential of intelligent technologies, where ongoing software
innovation, interdisciplinary collaboration, and a commitment to ethical
considerations collectively shape the future of AI on a global scale.
Browse
over 142 market data Figures spread through 221 Pages and an in-depth TOC on
the "Global Artificial Intelligence Market."
The
global artificial intelligence market is segmented into component, application,
business function, end user, and region. Based on component, the market is
segmented into software, hardware, services. Based on application, the market
is segmented into machine learning, image recognition, natural language
processing, speech recognition, others. Based on business function, the market is
segmented into finance, marketing & sales, supply chain management,
operations, human resource, security, others. Based on end user, the market is
segmented into manufacturing, BFSI, automotive, fashion and retail, healthcare
and life sciences, aerospace and defense, construction, others. Based on
region, the market is further bifurcated into North America, Asia-Pacific,
Europe, South America, Middle East & Africa.
Based on region,
North America stands as the powerhouse in the global artificial intelligence
(AI) market, commanding a substantial 46.54% market share in 2022. Renowned for
its innovation hubs, tech giants, and robust investment in AI research and
development, this region has established itself as the epicenter for
cutting-edge AI technologies.
The
United States, in particular, spearheads global AI initiatives, boasting a rich
ecosystem of AI startups, established tech companies, and research
institutions. This leadership translates into groundbreaking AI applications
across various industries, from healthcare and finance to automotive and
robotics.
Evidently,
the North American region's dominance in AI is propelled by its thriving
ecosystem of talent and resources. The amalgamation of top-tier universities
producing skilled AI professionals and the influx of venture capital funding
fuels groundbreaking advancements and disruptive innovations in artificial
intelligence.
The
emphasis on AI integration spans diverse sectors, with enterprises harnessing
AI-powered solutions for automation, predictive analytics, natural language
processing, and computer vision. This widespread adoption underscores the
pivotal role of AI in driving efficiency, productivity, and competitive edge
across industries.
Moreover,
the prevalence of AI-driven platforms, digital assistants, and personalized
recommendation systems further solidifies the region's status as a frontrunner
in pioneering AI-powered consumer experiences.
Key
market players in the global artificial intelligence market are: -
- Microsoft Corporation
- Amazon Web Services Inc.
- IBM Corporation
- Alphabet Inc.
- Oracle Corporation
- Intel Corporation
- Cisco Systems Inc.
- Salesforce.com, Inc.
- SAS Institute Inc
- Adobe Inc.
- SAP SE
- Alibaba Group Holding Limited
Download Free Sample Report
Customers can also request
for 10% free customization on this report.
“The
global artificial intelligence (AI) market is experiencing rapid growth, driven
by technological advancements and widespread adoption across industries.
Machine learning, natural language processing, and robotics form the core of
AI, reshaping businesses and operational landscapes. North America,
particularly Silicon Valley, stands as a key hub with significant investments
and innovation. Challenges include ethical considerations and regulatory
frameworks. AI's impact spans healthcare, customer service, manufacturing, and
finance, redefining processes and enabling data-driven decision-making. Talent
development and strategic collaborations play pivotal roles in sustaining the
market's momentum, highlighting the transformative potential of intelligent technologies
worldwide.” said Mr. Karan Chechi,
Research Director with TechSci Research, a research-based global management
consulting firm.
“Artificial Intelligence Market – Global
Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Component
(Software, Hardware, Services) By Application (Machine Learning, Image
Recognition, Natural Language Processing, Speech Recognition, Others), By
Business Function (Finance, Marketing & Sales, Supply Chain Management,
Operations, Human Resource, Security, Others), By End User (Manufacturing,
BFSI, Automotive, Fashion and Retail, Healthcare and Life Sciences, Aerospace
and Defense, Construction, Others), By Region, and By Competition, 2018-2028,” has evaluated the future growth
potential of Global Artificial Intelligence Market and provides
statistics & information on market size, structure, and future market
growth. The report intends to provide cutting-edge market intelligence and help
decision makers take sound investment decisions. Besides the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in Global Artificial Intelligence Market.
Contact
TechSci
Research LLC
420
Lexington Avenue,
Suite 300,
New York,
United
States- 10170
M:
+13322586602
Email: [email protected]
Website: https://www.techsciresearch.com