Dublin, Aug. 17, 2023 (GLOBE NEWSWIRE) -- The "Global Artificial Intelligence (AI) Market Forecast to 2030" report has been added to ResearchAndMarkets.com's offering.
The global artificial intelligence market is set to experience substantial growth, projected to increase from USD 150.2 billion in 2023 to USD 1.34 trillion by 2030. This impressive growth is expected to be driven by businesses harnessing the power of AI to streamline processes and leverage data effectively. AI's ability to recognize patterns in user behavior allows for a more personalized and customized experience for users.
Key Highlights
- The market is projected to grow at a Compound Annual Growth Rate (CAGR) of 36.8% during the forecast period.
- Machine Learning is anticipated to hold the largest market size among AI technologies. It plays a crucial role in advancing AI by enabling computers to learn from data, identify patterns, and make data-driven decisions.
- The supply chain management segment is expected to witness the highest CAGR during the forecast period. AI technology is revolutionizing supply chain management, leading to cost savings, improved productivity, and competitive advantages for businesses.
- North America is estimated to account for the largest market share, driven by significant AI adoption across various industries, robust AI ecosystem, and a wealth of skilled talent.
Research Coverage
The market study covers the artificial intelligence market across various segments, including offering, technology, business function, vertical, and region. It aims to estimate the market size and growth potential in these segments. The report provides a competitive analysis of key players, company profiles, product and business offerings, recent developments, and market strategies.
Key Benefits of Buying the Report
- Market leaders and new entrants will gain insights into revenue numbers and growth trends in the overall AI market and its subsegments.
- Stakeholders can understand the competitive landscape and develop effective go-to-market strategies.
- The report offers a comprehensive understanding of market drivers, restraints, challenges, and opportunities, allowing stakeholders to make informed decisions.
Market Dynamics
- Drivers
- Growth in Adoption of Autonomous Artificial Intelligence
- Rise in Technological Advancements and Innovations
- Advancements in Deep Learning and Growth of Data-Based Artificial Intelligence
- Restraints
- Shortage of Skilled Artificial Intelligence Professionals
- Issues Related to Data Availability and Quality
- Opportunities
- Rapid Growth in Digital Data from Various Sources
- Rise in Investment in Research & Development by Businesses and Governments
- Challenges
- Data Privacy and Security Concerns
- Concerns Related to Bias and Inaccurately Generated Output
Case Studies
- Retail & eCommerce
- ASOS Used Microsoft Azure's ML Service to Reduce Time-To-Market for Recommendations Model
- AWS' Technologies Helped Artfinder Offer Recommendations to Customers
- Formosa Optical Approached Appier to Optimize Customer Satisfaction and Unblock Retail Opportunity
- Healthcare & Life Sciences
- Tamil Nadu eGovernance Agency (TNeGA) Used an AI-based Mobile App to Enable Screening of People for Cataract
- Inspire Used ML to Connect Millions of Patients and Caregivers on AWS
- UCSF Health Leverages H2O Document Artificial Intelligence to Automate Workflows in Healthcare
- BFSI
- Humana Used Watson Assistant to Address Customer Queries
- PayPal Collaborated with H2O.AI to Improve Fraud Detection Accuracy and Decrease Its Time
- Vanguard Institutional Utilized Persado to Scale Its Personalization Efforts for Customer Messages
- Agriculture
- Biochemical Company Built Digital Solution to Deliver Accurate Product Recommendations Using Artificial Intelligence
- Agrochemical Company Used Precision Farming Solutions to Predict Mildew Disease in Crops
- Manufacturing
- Kia Motors America Relied on Artificial Intelligence Solutions from SAS to Improve Its Customer Satisfaction
- US-based Fortune 500 Home Appliances Corporation Approached Fosfor to Improve Its Warranty and After-Sales Management
- Construction
- General Contractor Leveraged Alice on Silicon Valley Project to Save Millions
- Education
- NC State University Leveraged Lumen5 to Boost Its Online Presence
- Energy & Utilities
- Kore.AI Enabled Energy Company to Enhance Customer Service with Conversational AI
- Automotive
- Zoox Approached AWS to Boost Development of Self-Driving Cars
- Telecom
- Vodafone Utilized Persado's Motivation AI to Develop Creative Campaigns Through Generative AI
- IT/ITS
- Twilio Leveraged Aisera's Generative AI Technology and Service to Scale IT Operations
Patent Analysis
- Top 20 Patent Owners in the Market, 2013-2023
- List of Major Patents in the Artificial Intelligence Market, 2021-2023
- Regional Analysis of Patents Granted, 2013-2023
Premium Insights
- Rising Investments in Artificial Intelligence Research & Development to Drive Market Growth
- Artificial Intelligence Market to Witness Minor Decline in YoY Growth in 2023
- Marketing & Sales Business Function to Account for Largest Artificial Intelligence Market During Forecast Period
- Software and BFSI to Lead Respective Segments in Artificial Intelligence Market in 2023
- North America to Dominate Artificial Intelligence Market in 2023
Other Key Insights
- Ethics and Implications of Artificial Intelligence Development
- Investments in Artificial Intelligence
- Acquisitions in Artificial Intelligence Market
- Evolution of Artificial Intelligence Technology
- Artificial Intelligence Market Ecosystem
- Case Study Analysis
- Technology Analysis
- Value Chain Analysis
- Porter's Five Forces Analysis
- Pricing Model Analysis
- Key Conferences and Events
- Tariff and Regulatory Landscape
- Key Stakeholders and Buying Criteria
- Trends/Disruptions Impacting Buyers/Clients in Artificial Intelligence Market
- Best Practices in Artificial Intelligence Market
- Technology Roadmap
- Business Models
Key Attributes
| Report Attribute | Details |
| No. of Pages | 604 |
| Forecast Period | 2023-2030 |
| Estimated Market Value (USD) in 2023 | $150.2 Billion |
| Forecasted Market Value (USD) by 2030 | $1.34 Trillion |
| Compound Annual Growth Rate | 36.8% |
| Regions Covered | Global |
Key Topics Covered
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview and Industry Trends
6 Artificial Intelligence Market, by Offering
7 Artificial Intelligence Market, by Technology
8 Artificial Intelligence Market, by Business Function
9 Artificial Intelligence Market, by Vertical
10 Artificial Intelligence Market, by Region
11 Competitive Landscape
12 Company Profiles
13 Adjacent and Related Markets
14 Appendix
Companies Profiled in the Report
- 8x8
- Ada
- Aera Technology
- AgEagle Aerial Systems
- AI Superior
- Aibrain
- Alibaba Cloud
- Anju Software
- Appier
- Applied Brain Research
- Artfinder
- ASOS
- Atomwise
- Aurea Software
- AWS (Amazon Web Services)
- Baidu
- BlackBerry Limited
- Butterfly Network
- Cisco
- Darktrace
- Descartes Labs
- Didi Global
- EC2CE
- Face++
- Formosa Optical
- Fortune 500 Home Appliances Corporation
- Fosfor
- Gamaya
- General Vision
- Graphcore
- GumGum
- H2O.ai
- HPE (Hewlett Packard Enterprise)
- Huawei
- Humana
- IBM
- iFlytek
- Inbenta
- Inspire
- Intel
- Intrinsic
- iPro
- Iris Automation
- Jasper
- Kia Motors America
- Kore.AI
- Lumen5
- Meta
- Microsoft
- Mostly AI
- Mythic
- NC State University
- Neurala
- NVIDIA
- One AI
- OpenAI
- Oracle
- PayPal
- Persado
- Pilot AI
- PrecisionHawk
- Preferred Networks
- Progress
- Salesforce
- SAP
- SAS Institute
- Sentient.io
- Siemens
- SK Hynix
- SoundHound
- Tamil Nadu Egovernance Agency (TNeGA)
- Twilio
- UCSF Health
- Vanguard Institutional
- Vodafone
- Writesonic
- Zoox
For more information about this report visit https://www.researchandmarkets.com/r/3xxekc
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