The Grand View Research report into Artificial Intelligence Market Size, Share & Trends Analysis discusses the global artificial intelligence (AI) market, providing an in-depth analysis of its current size, growth projections, key market segments, regional trends, and competitive landscape.
The report highlights the significant growth potential of the AI market, driven by factors such as the increasing demand for AI-powered solutions across various industries, the continuous advancements in AI technologies, and the growing availability of data and computing resources.
The report provides valuable insights for businesses, investors, and researchers interested in the AI market. It offers a comprehensive overview of the market’s current state and future direction, enabling them to make informed decisions about their AI strategies and investments.
The Global Artificial Intelligence Market
The global artificial intelligence (AI) market size was valued at USD 136.55 billion in 2022 and is projected to expand at a compound annual growth rate (CAGR) of 37.3% from 2023 to 2030, reaching USD 1,811.75 billion by 2030. This growth is being driven by several factors, including:
- The increasing demand for AI-powered solutions across various industries, such as healthcare, manufacturing, finance, and retail
- The continuous advancements in AI technologies, such as machine learning and deep learning
- The growing availability of data and computing resources
Key Market Segments
The AI market is segmented by component, technology, application, deployment mode, organization size, and end-use industry. Some of the key segments include:
- Component: Hardware and software
- Technology: Machine learning, natural language processing, computer vision, and robotics
- Application: Image recognition, fraud detection, chatbots, and virtual assistants
- Deployment mode: On-premises, cloud, and hybrid
- Organization size: Small and medium-sized enterprises (SMEs) and large enterprises
- End-use industry: Healthcare, manufacturing, finance, retail, and transportation
Regional Analysis
North America dominated the AI market in 2022, accounting for over 36.8% of global revenue. This is due to the region’s strong technological infrastructure, the presence of major AI companies, and the early adoption of AI technologies. However, Asia Pacific is expected to be the fastest-growing region, with a CAGR of 44.8% from 2023 to 2030. This growth is being driven by the increasing demand for AI solutions in emerging economies in the region.
Competitive Landscape
The AI market is highly competitive, with a number of large multinational companies and smaller startups vying for market share. Some of the key players in the market include:
- Microsoft
- IBM
- Amazon
- Apple
- Intel
- SAP
- Salesforce
- Oracle
- Huawei
The AI market is expected to experience significant growth in the coming years, driven by the increasing demand for AI-powered solutions across various industries. The market is also expected to be shaped by the continuous advancements in AI technologies and the growing availability of data and computing resources.
You can read the report in full and request a free sample copy using this link.