Press release
Artificial Intelligence Systems Spending Market on Track for Strong Growth, Estimated to Grow at 47.6% CAGR Through 2029
Artificial Intelligence Systems Spending Market
How Large Will the Artificial Intelligence Systems Spending Market Size By 2025?
The market size in the sphere of artificial intelligence systems expenditures has seen a rapid expansion in the past few years. This market is projected to expand from a size of $174.16 billion in 2024 to $255.59 billion in 2025, demonstrating a compound annual growth rate (CAGR) of 46.8%. The previous growth can be accredited to factors such as enhanced computing capabilities, the surge of cloud computing, amplified awareness and education, norms and compliance requirements, and the rise in applications specific to various industries.
How Big Is the Artificial Intelligence Systems Spending Market Size Expected to Grow by 2029?
Predictions show an explosive expansion of the artificial intelligence systems spending market in the coming years. The market size is projected to skyrocket to $1212.13 billion by 2029, with a compound annual growth rate (CAGR) of 47.6%. The phenomenal growth rate during the forecast period can be credited to several factors such as rampant data proliferation, the rise of autonomous systems and robotics, the incorporation of quantum computing, worldwide digital transformation strategies, and the surging utilisation of AI in the healthcare sector. Significant trends for the forecast period comprise AI application in edge computing, AI's role in cybersecurity, the overlap of quantum computing and AI, AI-enabled personalization, and judicious partnerships.
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Which Key Market Drivers Powering Artificial Intelligence Systems Spending Market Expansion and Growth?
Advancements in automation are predicted to fuel the expansion of the artificial intelligence systems spending market. Automation involves utilizing technology and systems to accomplish tasks with reduced human input. Artificial intelligence system allocation is implemented in automation to streamline repetitive, rule-based work, primarily in behind-the-scenes operations such as data entry, customer service, and financial handling. As an example, in 2022, Routine Automation, a computer systems designer based in Poland, reported that the proportion of marketers employing automation in content management escalated from 22% in 2021 to 29% in 2022, with 48% utilizing automation. Thus, the escalating demand for automation is contributing to the growth of the artificial intelligence systems spending market.
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Which Fast-Growing Trends Are Poised to Disrupt the Artificial Intelligence Systems Spending Market?
Major corporations involved in the artificial intelligence systems expenditure market are emphasizing AI progress like EY.ai, a sophisticated AI system, to encourage business transformation through surefire decision-making. EY.ai is a combined platform that mixes human skills with AI to promote business change via assured decision-making. For example, Ernst & Young Global Limited, a professional services company based in the UK, unveiled EY.ai in September 2023, a collective platform converging human skills and AI to offer a cohesive platform that merges human proficiency with AI to assist in confident decision-making and boost business transformation. This system makes use of EY's pioneering technology and AI proficiency across a range of areas such as strategy, transactions, transformation, risk, assurance, and tax. The EY.ai platform aids in the inclusion of AI into proprietary EY technologies and assists in securing a series of avant-garde alliances with some of the globe's most inventive organizations.
What Are the Emerging Segments in the Artificial Intelligence Systems Spending Market?
The artificial intelligence systems spendingmarket 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
Subsegments:
1) By Software: Machine Learning Software, Natural Language Processing Software, Computer Vision Software, AI Development Platforms, Robotic Process Automation (RPA) Software
2) By Hardware: Processors (CPUs, GPUs, TPUs), Servers, Storage Devices, Networking Equipment, Edge Devices
3) By Service: AI Consulting Services, System Integration Services, AI Support And Maintenance Services, Managed AI Services, Training And Education Services
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Who Are the Global Leaders in the Artificial Intelligence Systems Spending Market?
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, accenture* 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.
Which are the Top Profitable Regional Markets for the Artificial Intelligence Systems Spending Industry?
North America was the largest region in the artificial intelligence systems spending market in 2024. 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.
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