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The market size for artificial intelligence (AI) was estimated at USD 93.9 billion in 2022. From USD 128.10 billion in 2023 to USD 1,589.9 billion in 2030, the Artificial Intelligence (AI) market industry is anticipated to expand at a compound annual growth rate (CAGR) of 39.0%. The constant research and innovation carried out by the tech giants in industries like manufacturing, healthcare, retail, and finance are what are driving the adoption of cutting-edge technology.
The expansion of the worldwide artificial intelligence market is being driven by an increase in demand for intelligent systems to boost productivity and efficiency. Faster speech recognition and natural language processing are just two examples of how technological developments in the AI sector are helping the market for AI grow. The market's expansion is hampered by artificial intelligence (AI) solutions' high installation costs. On the other hand, throughout the forecast period, it is anticipated that rising digital dependency and industry 4.0 trends would present lucrative prospects for the advancement of the artificial intelligence market.
The pandemic crisis altered how businesses functioned and made them more complex. Businesses turned to using the cloud for their business operations in order to implement these changes. Advanced technologies like AI, machine learning, and others saw a spike in usage as a result. One of the first industries to use this technology, which increased the precision and effectiveness of diagnoses, treatments, and predictions, was the healthcare industry. For instance, according to the study report from January 2022, researchers at Indiana University and the Regenstrief Institute discovered that machine learning (ML) models could aid in public health decision-making during the pandemic. Along with healthcare, other sectors showed greater levels of global adoption. In the upcoming years, the rapid usage of AI tools is anticipated to continue. The pandemic accelerated the global uptake of this technology, which is now highly mature across the majority of corporations and is expected to account for the majority of IT spending in the upcoming years.
With the demand for communications services increasing, the IT and telecom category dominated the artificial intelligence market share in 2020 and is anticipated to do so again over the forecast period. However, due to rising automation and patient service trends in the healthcare and pharmaceutical industries, the healthcare category is anticipated to experience the largest growth in the next years.
Due to the region's significant spending on AI solutions in the public and government sectors, North America held the top regional position in the artificial intelligence market in 2020 and is predicted to keep it throughout the forecast period. Additionally, the market for artificial intelligence (AI) technology is anticipated to be driven by the usage of AI technology for the automation of industrial machinery during the forecast period. However, due to economic and technical advancements in the region, Asia-Pacific is predicted to experience considerable growth over the projection period. This growth is anticipated to boost the region's adoption of artificial intelligence solutions over the next few years.
The ability of artificial intelligence (AI) technology to analyze data collected and use to forecast future actions in real time with the application of complex algorithms adds to the rise of productivity. For instance, Netflix might recommend movies depending on what its viewers have previously watched. AI has transformed business management in the modern business environment by adding workflow management tools, trend forecasting, and other innovations. These are the primary elements driving the increase in investment in machine learning and AI technology. Numerous small businesses and IT firms have invested in the adoption of open-source AI platforms to increase the effectiveness of their value chains. Furthermore, it is projected that the availability of affordable, high-quality AI technology would contribute to the expansion of the AI sector.
Report Coverage
Global Artificial Intelligence (AI) research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Artificial Intelligence (AI) report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Artificial Intelligence (AI) competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Artificial Intelligence (AI) market players and analyses their core competencies in each global market sub-segments.
Key Points Covered in the Report
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Artificial Intelligence (AI) market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Artificial Intelligence (AI) market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
Google (US), Microsoft (US), IBM (US), Oracle (US), AWS (US), Intel (US), Salesforce (US), SAP (Germany), Cisco (US), Meta (US), HPE (US), Siemens (Germany), Huawei (China), NVIDIA (US), Baidu (China), SAS Institute (US), OpenAI (US), H2O.ai (US), iFLYTEK (China), Alibaba Cloud (China), General Vision (US), Darktrace (UK), Blackberry Limited (Canada), DiDi Global (China), Face++ (China), Inbenta (US), Anju Software (US), Butterfly Network (US), Atomwise (US), AIBrain (US), SK Hynix (South Korea), Progress (US), PrecisionHawk (US), AgEagle Aerial System (US), Neurala (US), Twitter (US), Aurea Software (US), Persado (US), 8x8 (US), Appier (Taiwan), GumGum (US), IPRO (US), Graphcore (UK), Preferred Networks (Japan), Applied Brain Research (Canada), Pilot AI (US), Iris Automation (US), Gamaya (Switzerland), ec2ce (Spain), Descartes Labs (US), Mythic (US), Ada (Canada), Mostly AI (Austria), Sentient.io (Singapore), Lumen5 (Canada), AI Superior (Germany), Fosfor (India), Intrinsic (US), Jasper (US), Soundful (US), Writesonic (US), One AI (Israel).
Primary Target Market
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Artificial Intelligence (AI) market based on the below-mentioned segments:
Global Artificial Intelligence (AI) Market, By Component
Solution
Services
Global Artificial Intelligence (AI) market, By Technology
Machine Learning
Natural Language Processing
Computer Vision
Others
Global Artificial Intelligence (AI) Market, By Industry Vertical
IT and Telecommunication
Retail and E-Commerce
BFSI
Healthcare
Manufacturing
Automotive
Others
Global Artificial Intelligence (AI) market, Regional Analysis
The expansion of the worldwide artificial intelligence market is being driven by an increase in demand for intelligent systems to boost productivity and efficiency. Faster speech recognition and natural language processing are just two examples of how technological developments in the AI sector are helping the market for AI grow. The market's expansion is hampered by artificial intelligence (AI) solutions' high installation costs. On the other hand, throughout the forecast period, it is anticipated that rising digital dependency and industry 4.0 trends would present lucrative prospects for the advancement of the artificial intelligence market.
The pandemic crisis altered how businesses functioned and made them more complex. Businesses turned to using the cloud for their business operations in order to implement these changes. Advanced technologies like AI, machine learning, and others saw a spike in usage as a result. One of the first industries to use this technology, which increased the precision and effectiveness of diagnoses, treatments, and predictions, was the healthcare industry. For instance, according to the study report from January 2022, researchers at Indiana University and the Regenstrief Institute discovered that machine learning (ML) models could aid in public health decision-making during the pandemic. Along with healthcare, other sectors showed greater levels of global adoption. In the upcoming years, the rapid usage of AI tools is anticipated to continue. The pandemic accelerated the global uptake of this technology, which is now highly mature across the majority of corporations and is expected to account for the majority of IT spending in the upcoming years.
With the demand for communications services increasing, the IT and telecom category dominated the artificial intelligence market share in 2020 and is anticipated to do so again over the forecast period. However, due to rising automation and patient service trends in the healthcare and pharmaceutical industries, the healthcare category is anticipated to experience the largest growth in the next years.
Due to the region's significant spending on AI solutions in the public and government sectors, North America held the top regional position in the artificial intelligence market in 2020 and is predicted to keep it throughout the forecast period. Additionally, the market for artificial intelligence (AI) technology is anticipated to be driven by the usage of AI technology for the automation of industrial machinery during the forecast period. However, due to economic and technical advancements in the region, Asia-Pacific is predicted to experience considerable growth over the projection period. This growth is anticipated to boost the region's adoption of artificial intelligence solutions over the next few years.
The ability of artificial intelligence (AI) technology to analyze data collected and use to forecast future actions in real time with the application of complex algorithms adds to the rise of productivity. For instance, Netflix might recommend movies depending on what its viewers have previously watched. AI has transformed business management in the modern business environment by adding workflow management tools, trend forecasting, and other innovations. These are the primary elements driving the increase in investment in machine learning and AI technology. Numerous small businesses and IT firms have invested in the adoption of open-source AI platforms to increase the effectiveness of their value chains. Furthermore, it is projected that the availability of affordable, high-quality AI technology would contribute to the expansion of the AI sector.
Report Coverage
Global Artificial Intelligence (AI) research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Artificial Intelligence (AI) report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Artificial Intelligence (AI) competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Artificial Intelligence (AI) market players and analyses their core competencies in each global market sub-segments.
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| Study Period | 2017-2030 |
| Base Year | 2022 |
| Forecast Period | 2022-2030 |
| Historical Period | 2017-2021 |
| Unit | Value (USD Billion) |
| Key Companies Profiled | Google (US), Microsoft (US), IBM (US), Oracle (US), AWS (US), Intel (US), Salesforce (US), SAP (Germany), Cisco (US), Meta (US), HPE (US), Siemens (Germany), Huawei (China), NVIDIA (US), Baidu (China), SAS Institute (US), OpenAI (US), H2O.ai (US), iFLYTEK (China), Alibaba Cloud (China), General Vision (US), Darktrace (UK), Blackberry Limited (Canada), DiDi Global (China), Face++ (China), Inbenta (US), Anju Software (US), Butterfly Network (US), Atomwise (US), AIBrain (US), SK Hynix (South Korea), Progress (US), PrecisionHawk (US), AgEagle Aerial System (US), Neurala (US), Twitter (US), Aurea Software (US), Persado (US), 8x8 (US), Appier (Taiwan), GumGum (US), IPRO (US), Graphcore (UK), Preferred Networks (Japan), Applied Brain Research (Canada), Pilot AI (US), Iris Automation (US), Gamaya (Switzerland), ec2ce (Spain), Descartes Labs (US), Mythic (US), Ada (Canada), Mostly AI (Austria), Sentient.io (Singapore), Lumen5 (Canada), AI Superior (Germany), Fosfor (India), Intrinsic (US), Jasper (US), Soundful (US), Writesonic (US), One AI (Israel). |
| Segments Covered | • By Product |
| Customization Scope | Free report customization (equivalent to up to 3 analyst working days) with purchase. Addition or alteration to country, regional & segment scope |
Key Points Covered in the Report
- Market Revenue of Artificial Intelligence (AI) Market from 2021 to 2030.
- Market Forecast for Artificial Intelligence (AI) Market from 2021 to 2030.
- Regional Market Share and Revenue from 2021 to 2030.
- Country Market share within region from 2021 to 2030.
- Key Type and Application Revenue and forecast.
- Company Market Share Analysis, Artificial Intelligence (AI) competitive scenario, ranking, and detailed company
profiles. - Market driver, restraints, and detailed COVID-19 impact on Artificial Intelligence (AI)
Market
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Artificial Intelligence (AI) market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Artificial Intelligence (AI) market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
Google (US), Microsoft (US), IBM (US), Oracle (US), AWS (US), Intel (US), Salesforce (US), SAP (Germany), Cisco (US), Meta (US), HPE (US), Siemens (Germany), Huawei (China), NVIDIA (US), Baidu (China), SAS Institute (US), OpenAI (US), H2O.ai (US), iFLYTEK (China), Alibaba Cloud (China), General Vision (US), Darktrace (UK), Blackberry Limited (Canada), DiDi Global (China), Face++ (China), Inbenta (US), Anju Software (US), Butterfly Network (US), Atomwise (US), AIBrain (US), SK Hynix (South Korea), Progress (US), PrecisionHawk (US), AgEagle Aerial System (US), Neurala (US), Twitter (US), Aurea Software (US), Persado (US), 8x8 (US), Appier (Taiwan), GumGum (US), IPRO (US), Graphcore (UK), Preferred Networks (Japan), Applied Brain Research (Canada), Pilot AI (US), Iris Automation (US), Gamaya (Switzerland), ec2ce (Spain), Descartes Labs (US), Mythic (US), Ada (Canada), Mostly AI (Austria), Sentient.io (Singapore), Lumen5 (Canada), AI Superior (Germany), Fosfor (India), Intrinsic (US), Jasper (US), Soundful (US), Writesonic (US), One AI (Israel).
Primary Target Market
- Market Players of Artificial Intelligence (AI)
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Third-party knowledge providers
- Value-Added Resellers (VARs)
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Artificial Intelligence (AI) market based on the below-mentioned segments:
Global Artificial Intelligence (AI) Market, By Component
Solution
Services
Global Artificial Intelligence (AI) market, By Technology
Machine Learning
Natural Language Processing
Computer Vision
Others
Global Artificial Intelligence (AI) Market, By Industry Vertical
IT and Telecommunication
Retail and E-Commerce
BFSI
Healthcare
Manufacturing
Automotive
Others
Global Artificial Intelligence (AI) market, Regional Analysis
- Europe: Germany, Uk, France, Italy, Spain, Russia, Rest of Europe
- The Asia Pacific: China,Japan,India,South Korea,Australia,Rest of Asia Pacific
- South America: Brazil, Argentina, Rest of South America
- Middle East & Africa: UAE, Saudi Arabia, Qatar, South Africa, Rest of Middle East & Africa
About This Research
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