Artificial Intelligence Market Size, Scope, Growth Opportunities, Trends Forecast to 2028

The global artificial intelligence market is expected to be valued at USD 85,643.4 million in 2021 is and expected to grow at a CAGR of 34.1% over the forecast period 2022-28. By 2021, customers managed x% of their relationship with the enterprise without interacting with a human (source). x% of brands say they have already implemented or are planning to implement artificial intelligence and virtual reality in 2021 to better serve customers.

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Machine Learning Accounted for Higher Revenue Share in Global Artificial Intelligence Market:
Based on technology, global artificial intelligence is segmented into machine learning, natural language processing, context-aware computing, computer vision. Machine learning is expected to boost the global market. Machine learning is an interdisciplinary field in which statistics, probability, data learning algorithms and observations can be used to develop intelligent applications such as image recognition, speech recognition, traffic prediction, product recommendations, self-driving cars, email spam and malware filtering, virtual personal assistant, online fraud detection Machine Learning (ML), globally recognized as a key driver of digital transformation.

North America Leads the Global Artificial Intelligence Market:
Based on regional analysis, global artificial intelligence market segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominated the artificial intelligence market with a significant share. This is attributable to the presence of leading players in the region, strong technical adoption base, and availability of government funding. The growth of the marketing industry has resulted in e-commerce, video streaming, and rising internet penetration as AI-enabled marketing technologies being adopted in security, organizations and governments concentrate on robust defense infrastructure with rising instances of cyber-attacks and a growing cyber-war in the region.

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Strategic Acquisitions, Merger, Agreements, Collaborations and Partnerships are the key strategies adopted by market players:
Global artificial intelligence market further reveals that the key player's increasingly adopting strategies such as strategic acquisitions, merger, agreements, collaborations and partnerships to enhance market revenue share. For instance, In June 2017, Google launched MultiModel, a neural network architecture that draws from the success of vision, language, and audio networks to simultaneously solve problems spanning multiple domains, including image recognition, translation, and speech recognition

Key player's profiles in the global artificial intelligence market are: Intel (US), NVIDIA (US), Samsung Electronics (South Korea), Xilinx (US), Micron Technology (US), IBM (US), Microsoft (US), Google Inc (US), Amazon Web Services (US), Facebook (US), Baidu (China), Oracle (US), Salesforce (US), SAS (US), SAP SE (Germany)

Detailed Segmentation:
By Product
o Hardware
o Software
o Services

By Technology
o Machine Learning
o Natural Language Processing
o Context-Aware Computing
o Computer Vision

By Type
o Narrow / Weak AI
o General / Strong AI

End-user
o Healthcare
o Manufacturing
o Automotive
o Human Resources
o Media & Entertainment
o Telecommunication
o Others

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