Press release
Artificial Intelligence Systems Spending Market Outlook 2024: Exclusive Report By The Business Research Company
Artificial Intelligence Systems Spending Market
The Business Research Company offers in-depth market insights through Artificial Intelligence Systems Spending Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The artificial intelligence systems spending market size has grown exponentially in recent years. It will grow from $117.38 billion in 2023 to $174.16 billion in 2024 at a compound annual growth rate (CAGR) of 48.4%. The growth in the historic period can be attributed to increased computing power, rise of cloud computing, growing awareness and education, regulatory and compliance requirements, and increased industry-specific applications.The artificial intelligence systems spending market size is expected to see exponential growth in the next few years. It will grow to $827.98 billion in 2028 at a compound annual growth rate (CAGR) of 47.7%. The growth in the forecast period can be attributed to exponential growth in data, autonomous systems and robotics, quantum computing integration, global digital transformation initiatives, and increased adoption of ai in healthcare. Major trends in the forecast period include AI in edge computing, AI for cybersecurity, quantum computing and ai integration, AI-driven personalization, and strategic collaborations.
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Market Segmentation:
The artificial intelligence systems spending market covered in this report is segmented -
1) By Component: Software, Hardware, Service
2) By Technology: Natural Language Processing, Deep Learning, Artificial General Intelligence, Machine Vision, Artificial Super Intelligence, Machine Learning
3) By Application: Automated Threat Intelligence And Prevention Systems, Fraud Analysis And Investigation, Automated Customer Service, Other Applications
4) By Industry Type: Banking, Financial Services, And Insurance, Discrete And Process Manufacturing, Healthcare, Retail, Wholesale, Professional And Consumer, Service, Transportation, Media And Entertainment, Others Industries
Major Driver - Growing Demand For Automation Fuels Expansion Of Artificial Intelligence Systems Spending Market
The growing demand for automation is expected to propel the growth of the artificial intelligence systems spending market going forward. Automation refers to the process of using technology and systems to perform tasks or processes with minimal human intervention. Artificial intelligence system spending is used for automation to automate repetitive, rule-based tasks, typically in back-office operations such as data entry, customer service, and financial processing. For instance, in 2022, according to reports published by Routine Automation., a Poland-based operator of computer systems design, marketers adopting automation for content management increased from 22% in 2021 to 29% in 2022, with 48% using automation. Therefore, the growing demand for automation is driving the growth of the artificial intelligence systems spending market.
Competitive Landscape:
Major companies operating in the artificial intelligence systems spending market report are Alphabet Inc., Microsoft Corporation, Alibaba Group Holding Limited, Facebook Inc., Dell Technologies Inc., Tencent Holdings Limited, Amazon Web Services, Siemens AG, General Electric (GE), Intel Corporation, IBM Corporation, Cisco Systems Inc., Oracle Corporation, Qualcomm Incorporated, SAP SE, Hewlett Packard Enterprise (HPE), NVIDIA Corporation, Salesforce.com, Baidu Inc., Adobe Inc., Splunk Inc., PTC Inc., Palantir Technologies Inc., Informatica LLC, Cloudera Inc.
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Top Trend - Pioneering AI Integration For Confident Decision-Making In Business Transformation
Major companies operating in the artificial intelligence systems spending market are focusing on AI advancements, such as EY.ai, an advanced AI platform, to help drive business transformation through confident decision-making. EY.ai is a unifying platform that integrates human capabilities with artificial intelligence (AI) to drive business transformation through confident decision-making. For instance, in September 2023, Ernst & Young Global Limited, a UK-based professional services company, launched EY.ai, a unifying platform that brings together human capabilities and artificial intelligence to provide a unifying platform that integrates human expertise with artificial intelligence (AI) to facilitate confident decision-making and drive business transformation. This platform leverages EY's leading-edge technology and AI capabilities across various domains, including strategy, transactions, transformation, risk, assurance, and tax. The EY.ai platform supports the embedding of AI into proprietary EY technologies and helps secure a series of leading-edge alliances with some of the world's most innovative organizations.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Artificial Intelligence Systems Spending Market Characteristics
3. Artificial Intelligence Systems Spending Market Trends And Strategies
4. Artificial Intelligence Systems Spending Market - Macro Economic Scenario
5. Artificial Intelligence Systems Spending Market Size And Growth
…..
27. Artificial Intelligence Systems Spending Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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About The Business Research Company
The Business Research Company (www.thebusinessresearchcompany.com) is a market intelligence firm that pioneers in company, market, and consumer research. Located globally, TBRC's consultants specialize in various industries including manufacturing, healthcare, financial services, chemicals, and technology. The firm has offices located in the UK, the US, and India, along with a network of proficient researchers in 28 countries.
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