Press release
Artificial Intelligence Market Outlook 2024 Unveiling Growth Prospects And Industry Trends 2033
Artificial Intelligence Market
The Business Research Company presents an extensive market research report on the Artificial Intelligence Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The artificial intelligence market size has grown exponentially in recent years. It will grow from $73.38 billion in 2023 to $93.19 billion in 2024 at a compound annual growth rate (CAGR) of 27.0%. The growth in the historic period can be attributed to historical ai applications, historical market competition, historical ethical considerations, ai in specific sectors, historical investment trends, historical industry adoption.
The artificial intelligence market size is expected to see exponential growth in the next few years. It will grow to $214.74 billion in 2028 at a compound annual growth rate (CAGR) of 23.2%. The growth in the forecast period can be attributed to ai talent and workforce, industry-specific ai applications, regulatory changes and compliance, rise in ai-integrated products, global expansion of ai adoption. Major trends in the forecast period include advancements in machine learning, increased adoption of ai in healthcare, expansion of ai in robotics, rise of natural language processing (nlp), ai for personalization in marketing.
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Key Market Players:
Major companies operating in the artificial intelligence market report are Amazon.com Inc., Apple Inc., Alphabet Inc., Samsung Electronics Co.Ltd., Microsoft Corporation, Huawei Technologies Co.Ltd., Intel corporation, International Business Machines Corporation, Qualcomm Technologies Inc., SAP SE, Micron Technology lnc., NVIDIA corporation, Salesforce.com Inc., Advanced Micro Devices Inc., Baidu Inc., Arista Networks Inc., iFlyTek Co. Ltd., ARM Holding plc, Xilinx Inc., Verint Systems Inc., IPsoft Inc., Qlik Technologies Inc., MicroStrategy Inc., Megvii Technology Ltd., H2O.ai lnc., Brighterion lnc., KITT.AI Inc., Albert Technologies Ltd., People.ai lnc., Brainasoft Pvt. Ltd., AlphaSense lnc., OpenAI LP, Clarifai lnc., CrowdStrike lnc., Phrasee Ltd., Meta Platforms Inc., Taiwan Semiconductor Manufacturing Co. Ltd., ASML Holding NV, RELX plc
Market Drivers:
Increasing demand from businesses and governments for AI solutions is expected to propel the growth of the artificial intelligence market going forward. Artificial intelligence (AI) refers to the intelligence of machines or software, as opposed to the intelligence of humans or animals. AI can free up millions of labor hours, allowing government workers to focus on more important tasks and resulting in the government being able to provide services to the public faster. For instance, according to the 2023 AI Index Report, published by Stanford University, a US-based private research university, an AI Index analysis of the legislative records of 127 countries shows that the number of bills containing artificial intelligence that were passed into law has increased. The number of bills containing artificial intelligence passed into law grew from just 1 in the past ten years to 37 in 2022. Thus, increasing demand from businesses and governments for AI solutions is driving the growth of the artificial intelligence market.
Learn More About The Market Report -
https://www.thebusinessresearchcompany.com/report/artificial-intelligence-global-market-report
The artificial intelligence market covered in this report is segmented -
1) By Offering: Hardware, Software, Services
2) By Technology: Machine learning, Natural language processing, Context-Aware Computing, Computer Vision, Other Technologies (Image processing, Speech recognition)
3) By End-user Industry: Healthcare, Automotive, Agriculture, Retail, Marketing, Telecommunication, Defense, Aerospace, Media & Entertainment, Other End-User Industries
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
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