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Artificial Intelligence (AI) In Digital Transformation Global Market 2024 - Top Companies, Industry Analysis, Growth Statistics And Outlook By 2033
Artificial Intelligence (AI) In Digital Transformation Global Market
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According to The Business Research Company's, The AI in digital transformation market size has grown exponentially in recent years. It will grow from $244.49 billion in 2023 to $321.89 billion in 2024 at a compound annual growth rate (CAGR) of 31.7%. The growth in the historic period can be attributed to enhancing risk management, exponential growth of data, proliferation of IoT devices, fraud detection, and improving customer insights and engagement.
The AI in digital transformation market size is expected to see exponential growth in the next few years. It will grow to $970.01 billion in 2028 at a compound annual growth rate (CAGR) of 31.8%. The growth in the forecast period can be attributed to cybersecurity enhancement, need to reduce operational costs, healthcare improvements, development of smart cities, and shortage of skilled professionals. Major trends in the forecast period include advances in natural language processing, adoption of AI-as-a-service, deployment of AI-powered autonomous vehicles, AI chatbots, and integrated with blockchain technology.
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Market Drivers and Trends:
The growing adoption of cloud services is expected to propel the growth of the AI in digital transformation market going forward. Cloud services deliver computing resources such as servers, storage, databases, networking, software, and analytics over the Internet, allowing users to access. Cloud services are attributed to offering scalable and flexible computing resources, storage, and applications over the Internet, enabling businesses and individuals to access and manage these resources on demand without needing physical infrastructure. AI in digital transformation drives cloud service adoption by highlighting the benefits of cloud-based AI tools, which enhance operational efficiency, data analysis, and overall digital transformation efforts. For instance, in December 2023, according to the European Commission, a Belgium-based government administration, in 2023, 42.5% of European Union (EU) enterprises acquired cloud computing services, marking a 4.2% rise compared to 2021. Therefore, the growing adoption of cloud services is driving the growth of AI in the digital transformation market.
Major companies operating in the AI in digital transformation market are developing AI-powered DevSecOps platforms to enhance security, streamline development processes, and ensure compliance. AI-powered DevSecOps platforms leverage AI to automate security testing, identify vulnerabilities, and provide real-time threat detection throughout the development lifecycle. For instance, in October 2023, Digital.ai, a US-based technology company, launched Denali, an open, AI-powered DevSecOps platform designed to accelerate enterprise software delivery. This platform enhances security for web applications and automates software delivery processes, improving developer efficiency and aligning outcomes with business strategies. The advanced features include ARM protection for iOS applications and expanded test coverage, enabling teams to deliver high-quality, secure applications at scale.
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Major Key Players of the Market:
Amazon.com Inc., Google LLC, Microsoft Corporation, Dell Technologies Inc., Huawei Technologies Co. Ltd., Siemens AG, General Electric Company, Acce*nture plc, Intel Corporation, International Business Machines Corporation, Cisco Systems Inc., Qualcomm Incorporated, Oracle Corporation, Fujitsu Limited, SAP SE, Salesforce Inc., ABB Ltd., Tata Consultancy Services Limited, Hewlett Packard Enterprise Company, Nvidia Corporation, Capgemini SE, Cognizant Technology Solutions Corporation, Infosys Limited, Adobe Inc., VMware LLC, Wipro Limited, Hitachi Vantara Corporation
Artificial Intelligence (AI) In Digital Transformation Market 2024 Key Insights:
• The AI in digital transformation market size is expected to see exponential growth in the next few years. It will grow to $970.01 billion in 2028 at a compound annual growth rate (CAGR) of 31.8%.
• Impact Of Growing Cloud Services Adoption On The AI In Digital Transformation Market
• AI-Powered DevSecOps Platforms Revolutionizing Digital Transformation
• North America was the largest region in the AI in digital transformation market in 2023
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