Global Artificial Intelligence Market, By Offering (Hardware, Software, Services), Technology (Machine Learning, Natural Language Processing, Context-Aware Computing, Computer Vision), Type (Narrow / Weak AI and General / Strong AI), Function (Marketing and Sales, Security, Finance, Law, Human Resource, Others), Deployment Mode (Cloud, On-premises), Organization Size (Large enterprises, Small and medium-sized enterprises), End-User Industry (Healthcare, Manufacturing, Automotive, Agriculture, Retail, Security, Human Resources, Marketing, Law, Fintech, Construction, Defense, Aerospace, Supply Chain, Building Automation, Consumer, Food and Beverage, Gaming, Media and Entertainment, Telecommunication and Oil and Gas), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2028
Artificial intelligence market is expected to gain market growth in the forecast period of 2021 to 2028. Data Bridge Market Research analyses the market to o reach at an estimated value of USD 294.4 billion by 2028 and grow at a CAGR of 26.1% in the above-mentioned forecast period.
Artificial intelligence refers to the science and engineering associated with designing of smart computer systems with the capability to replicate or exhibit human-like intelligence (natural intelligence) and directly executing tasks, such as analyzing and making judgments and decisions without any human interference. The digital voice assistants that reside in our smartphones or smart speakers, customer support chat-bots as well as industrial robots are all examples of artificial intelligence.
The factors such as adopting cloud-based applications and services and big data is growing rapidly are expected to emerge as the significant factors uplifting the growth of artificial intelligence market. In addition to this, increasing demand for assistants of intelligent virtual and limited numbers of AI experts will further aggravate the growth of the artificial intelligence market. However, high cost of implementation and dearth of skilled and experienced staff for handling complex algorithms results as a growth restraint for the market.
The increasing adoption of AI for improving customer services, rising trend of multi-cloud functioning and the growing need for cloud-based intelligence services is anticipated to generate lucrative opportunities for the artificial intelligence market. The concerns associated with data privacy will pose as a challenge for the artificial intelligence market.
This artificial intelligence market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographical expansions, technological innovations in the market. To gain more info on Artificial intelligence market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Artificial Intelligence Market Scope and Market Size
The artificial intelligence market is segmented on the basis of offering, type, technology, function, deployment mode, organization size end-user industry. The growth amongst the different segments helps you in attaining the knowledge related to the different growth factors expected to be prevalent throughout the market and formulate different strategies to help identify core application areas and the difference in your target market.
- On the basis of offering, artificial intelligence market is segmented into hardware, software and services. The hardware is sub-segmented into processor, memory and network. The software is sub-segmented into application program interface (API) and machine learning framework. The software is sub-segmented into deployment and integration and support and maintenance.
- On the basis of technology, artificial intelligence market is segmented into machine learning, natural language processing, context-aware computing and computer vision. The machine learning is sub-segmented into deep learning, supervised learning, unsupervised learning, reinforcement learning and other technology.
- On the basis of type, artificial intelligence market is segmented into narrow /weak AI and general / strong AI.
- On the basis of function, artificial intelligence market is segmented into marketing and sales, security, finance, law, human resource and others.
- On the basis of deployment mode, artificial intelligence market is segmented into cloud and on-premises.
- On the basis of organization size, artificial intelligence market is segmented into large enterprises and small and medium-sized enterprises.
- On the basis of end-user industry, artificial intelligence market is segmented into healthcare, manufacturing, automotive, agriculture, retail, security, human resources, marketing, law and fintech, construction, defense, aerospace, supply chain, building automation, consumer, food and beverage, gaming, media and entertainment, telecommunication and oil and gas.
Artificial Intelligence Market Country Level Analysis
The artificial intelligence market is analyzed and market size, volume information is provided by offering, type, technology, function, deployment mode, organization size end-user industry as referenced above.
The countries covered in the artificial intelligence market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America is projected to dominate the artificial intelligence market during the forecast period owing to the favorable government initiatives to encourage the adoption of artificial intelligence (AI) across various industries. Asia-Pacific, on the other hand, is expected to show a lucrative growth due to increasing adoption of NLP technologies, growing e-commerce, increasing internet penetration and online streaming have resulted in the growth of marketing industries within the region.
The country section of the artificial intelligence market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Artificial Intelligence Market Share Analysis
The artificial intelligence market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Artificial intelligence market.
The major players covered in the artificial intelligence market report are Advanced Micro Devices, Inc., Aicure, LLC, Arm, Ltd., Atomwise, Inc., AYASDI AI LLC, Baidu Inc., ClariFI, Inc., Cyrcadia Health, Enlitic, Inc., H2O.ai, Google LLC, Hyperverge Inc., IBM, Intel Corporation, IRIS AI AS, Lifegraph Ltd., Microsoft, Nividia Corporation, Sensley Inc., Zebra Medical Vision, Inc among other domestic and global players. Market shre data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.