Press release
Artificial Intelligence Systems Spending Market Report 2024-2033: Size, Growth, Trends, Demand, Outlook
Artificial Intelligence Systems Spending Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.
The Market Size Is Expected To Reach $827.98 billion In 2028 At A CAGR Of 47.7% :
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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Artificial Intelligence Systems Spending Market Major Segments
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
Key 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.
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Prominent 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.
Artificial Intelligence Systems Spending Market Players
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, Accentur*e plc, 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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Largest And Fastest Growing Region In The Market
North America was the largest region in the artificial intelligence systems spending market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the artificial intelligence systems spending market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Artificial Intelligence Systems Spending Market Report Structure
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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