Artificial Intelligence Market: Size, Share, Growth, Analysis, Key Players, Revenue, Growth | Valuates Reports

Artificial Intelligence Market
The global artificial intelligence market size was valued at USD 65.48 billion in 2020, and is projected to reach USD 1,581.70 billion by 2030, growing at a CAGR of 38.0% from 2021 to 2030.

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Artificial Intelligence Market Trends
Major factors driving the growth of artificial intelligence market are
AI systems are now able to process and analyze enormous datasets because of the availability of high-performance computers and the exponential growth in data output. AI cannot develop into a more sophisticated prediction and decision-making tool without this access to large data and processing capacity. Businesses in a variety of sectors are utilizing AI to automate jobs and procedures, which has led to notable increases in productivity. Automation powered by AI lowers operating costs, boosts output, and enables more smart resource allocation for businesses.
In sectors including marketing, entertainment, and e-commerce, artificial intelligence (AI) is driving personalized recommendations, content curation, and user experiences. Customizing goods and services to fit each customer's unique tastes and habits boosts client happiness and promotes corporate expansion. AI is having a revolutionary effect on the healthcare industry with applications like predictive analytics, medication development, and medical imaging. In the end, AI improves patient outcomes and lowers healthcare expenses by assisting medical practitioners in diagnosing patients more quickly and accurately. AI is essential to the development of autonomous systems, including industrial robots, drones, and self-driving automobiles. AI investments might rise as a result of these technologies' ability to transform industry, logistics, and transportation.
AI's capacity to evaluate market data, identify fraudulent activity, and enhance investing techniques is advantageous to the financial sector. AI is becoming more and more common in finance because of the rise of algorithmic trading systems and AI-driven robo-advisors. In customer care, the usage of AI-powered chatbots and virtual assistants is expanding. These AI programs save customer care expenses while increasing customer happiness by speeding up response times, answering questions, and offering round-the-clock assistance. Regulations and ethical issues are becoming more and more important as AI develops. In order to guarantee ethical AI development and usage, which promotes trust and responsible innovation, governments, and organizations are creating frameworks and rules.

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Artificial Intelligence Market Share
By Technology
• Machine Learning
• Natural Language Processing
• Computer Vision
• Others

Because machine learning is widely used in complex industrial applications, it is expected to continue to hold the top spot in the artificial intelligence market share. Conversely, as conversational AI gains traction, the NLP category will expand at the quickest rate of growth.

By Industrial Verticals
• IT and Telecommunication
• Retail and E-Commerce
• BFSI
• Healthcare
• Manufacturing
• Automotive
• Others

The IT and telecom sector will dominate the artificial intelligence market share based on industrial verticals because of the increasing demand for a stable communications infrastructure and the rapid digitalization of the industry. Because there are many prospects for automation in the medical field, the healthcare industry will expand the fastest.

By Component
• Solution
• Services

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