Dublin, May 18, 2023 (GLOBE NEWSWIRE) -- The "Artificial Intelligence Market - Global Industry Analysis (2019 - 2022), Growth Trends, and Market Forecast (2023 - 2030)" report has been added to ResearchAndMarkets.com's offering.
Several IT industry giants have been investing heavily in AI R&D efforts to gain a competitive advantage. As this technology continues to reshape the current business processes, the demand for AI solutions is expected to increase.
Consequently, the global Artificial Intelligence market is on track to achieve sound maturity. the analyst notes that the global Artificial Intelligence market is slated to grow from its US$29.9 Bn market worth in 2019 and reach a mammoth valuation of US$718.7 Bn by 2030. In the study period of 2022-2030, the market will register in impressive CAGR of 31.2%.
AI has been one of the most exciting tech innovations in recent years. IT organizations, and tech enthusiasts are constantly researching the technology to realise its full potential and uncover newer horizons. To this end, it has emerged as one of the fastest-progressing technologies with an extremely deep application pool. From finance to security, marketing and sales, defence, manufacturing, healthcare, retail, and supply chain, many industries are aiming to utilize AI to improve their operational efficiency and profitability.
Artificial Intelligence Market to be Shaped by Following Key Trends
- The industry participants are poised to focus on service-based models in the developmental strategies of AI
- The Banking, Finance Services, and Investment (BFSI) segment contributes to a stellar 28% of the total revenue share of the AI market
- Between 2020 and 2022, the total annual corporate AI investments in startups increased by nearly US$5 Bn globally
Increasing Deployment Across Healthcare Industry to Create Fruitful Business Landscape
The application pool of AI is extremely diverse. For instance, the healthcare industry is particularly researching ways to improve care delivery by utilising AI. From earlier diagnostics to personalised medicine and real-time monitoring, the use cases of AI in healthcare are endless. The pharmaceutical industry can also benefit from it via decreasing drug development expenses and overall improvements in processes.
Modern AI-enabled chatbots are also improving patient experience via enhanced assistance. AI solutions are also being employed to reduce the risks of insurance fraud in the healthcare domain. All these opportunities in healthcare are incenting the expansion of Artificial Intelligence market at a stellar pace.
North America to Spearhead Artificial Intelligence Market Based on Paced Public Sector Investments
North America is leading the Artificial Intelligence market owing to the thriving end-use industries in the region. The public sector's interest in exploring AI technologies is a major factor in the region's market dominance. It is prolonging its first-mover advantage in adopting AI technologies.
Major regional economies such as the USA are leading contributors to this trend. In addition, a growing application pool, robust R&D activities, and a high concentration of major industry stakeholders are improving the regional market's promising growth trajectory. Elsewhere, Asia Pacific is also growing owing to its thriving start-up sector and growing inclination toward process automation.
Key Topics Covered:
1. Executive Summary
2. Market Overview
3. Global Artificial Intelligence Market Outlook, 2019 - 2030
3.1. Global Artificial Intelligence Market Outlook, by offerings (US$ Mn), 2019 - 2030
3.1.1. Key Highlights
3.1.1.1. Hardware
3.1.1.2. Software
3.1.1.3. Services
3.1.2. BPS Analysis/Market Attractiveness Analysis
3.2. Global Artificial Intelligence Market Outlook, by Technology, Value (US$ Mn), 2019 - 2030
3.2.1. Key Highlights
3.2.1.1. ML
3.2.1.2. Natural Language Processing
3.2.1.3. Context-Aware Computing
3.2.1.4. Computer Vision
3.2.2. BPS Analysis/Market Attractiveness Analysis
3.3. Global Artificial Intelligence Market Outlook, by Deployment, Value (US$ Mn), 2019 - 2030
3.3.1. Key Highlights
3.3.1.1. On-Premises
3.3.1.2. Cloud
3.3.2. BPS Analysis/Market Attractiveness Analysis
3.4. Global Artificial Intelligence Market Outlook, by Org Size, Value (US$ Mn), 2019 - 2030
3.4.1. Key Highlights
3.4.1.1. Small and Medium-Sized Enterprises
3.4.1.2. Large Enterprises
3.4.2. BPS Analysis/Market Attractiveness Analysis
3.5. Global Artificial Intelligence Market Outlook, by Business Function, Value (US$ Mn), 2019 - 2030
3.5.1. Key Highlights
3.5.1.1. Finance
3.5.1.2. Security
3.5.1.3. Human Resources
3.5.1.4. Law
3.5.1.5. Marketing & Sales
3.5.1.6. Others
3.5.2. BPS Analysis/Market Attractiveness Analysis
3.6. Global Artificial Intelligence Market Outlook, by Verticals, Value (US$ Mn), 2019 - 2030
3.6.1. Key Highlights
3.6.1.1. BFSI
3.6.1.2. Government & Defense
3.6.1.3. Manufacturing
3.6.1.4. Healthcare
3.6.1.5. Retail & E commerce
3.6.1.6. Transportation & Logistics
3.6.1.7. Others
3.6.2. BPS Analysis/Market Attractiveness Analysis
3.7. Global Artificial Intelligence Market Outlook, by Region, Value (US$ Mn), 2019 - 2030
3.7.1. Key Highlights
3.7.1.1. North America
3.7.1.2. Europe
3.7.1.3. Asia Pacific
3.7.1.4. Latin America
3.7.1.5. Middle East & Africa
3.7.2. BPS Analysis/Market Attractiveness Analysis
4. North America Artificial Intelligence Market Outlook, 2019 - 2030
5. Europe Artificial Intelligence Market Outlook, 2019 - 2030
6. Asia Pacific Artificial Intelligence Market Outlook, 2019 - 2030
7. Latin America Artificial Intelligence Market Outlook, 2019 - 2030
8. Middle East & Africa Artificial Intelligence Market Outlook, 2019 - 2030
9. Competitive Landscape
10. Appendix
A selection of companies mentioned in this report includes
- Cisco Systems
- Microsoft Corporation
- Sailpoint Technologies
- Oracle
- DELL
- IBM
- HITACHI
- CA Technologies
- Okta
- Micro Focus
- Centrify Corp
For more information about this report visit https://www.researchandmarkets.com/r/qqlamx
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