Registering a CAGR of 39.8% over the forecast period of 2022-2027, the global Artificial Intelligence market size is anticipated to reach the market value of US$ 310.34 billion in the year 2027 from US$ 59.4 billion in the year 2021.
Artificial Intelligence Market Overview
Artificial intelligence (AI), often known as machine intelligence, is an area of computer science that focuses on developing and managing technology that can learn to make choices and can autonomously carry out transactions on behalf of humans. Today, artificial intelligence algorithms are being tested against intelligence standards that are beyond human comprehensions, such as AI applications in supercomputers and quantum computers. Such advancements in artificial intelligence technology are expected to contribute to the development of the artificial intelligence industry in the coming years.
Rise in demand for intelligent systems to enhance efficiency and productivity are propelling the growth of the global artificial intelligence market. Technological advancements in the AI industry such as faster speech and natural language processing are positively impacting the growth of the AI market.
Who are the Major Players in Artificial Intelligence Market?
The global Artificial Intelligence Market includes the identification and analysis of the various market participants competing in the global market. Prominent competitors include Advanced Micro Devices, AiCure, Arm Limited, Atomwise, Inc., Ayasdi AI LLC, Baidu, Inc., Clarifai, Inc, Cyrcadia Health, Enlitic, Inc., Google LLC, H2O.ai., HyperVerge, Inc., International Business Machines Corporation, IBM Watson Health, Intel Corporation, Iris.ai AS., Lifegraph, Microsoft, NVIDIA Corporation, Sensely, Inc., Zebra Medical Vision, Inc.
Industry News and Development:
In March 4, 2022, Microsoft Corp (Nasdaq: MSFT) on Friday announced the completion of its acquisition of Nuance Communications Inc. (Nasdaq: NUAN), a leader in conversational AI and ambient intelligence across industries including healthcare, financial services, retail and telecommunications.
In March 15, 2022, IBM (NYSE: IBM) announced new solutions with IT management software company, Flexera, and IBM Turbonomic Application Resource Management (ARM) to help organizations use automation to streamline IT asset management. The new solutions are aimed at helping businesses lower costs and automate the increasingly complex tasks of software license compliance and optimization.
What are the major Applications, Types and Regions for Artificial Intelligence Market?
Artificial Intelligence Market is segmented based on the Type, Applications and Regions.
By Type, it is segmented into
- Computer/GPU Chip Hardware
- Cloud Hardware
- Other
By Applications, it is segmented into
- Media & Advertising
- Healthcare
- Automotive & Transportation
- Other
Artificial Intelligence Market Regional Analysis
North America dominated the market and accounted for over 40.2% share of global revenue in 2022. This high share is attributed to favorable government initiatives to encourage the adoption of artificial intelligence (AI) across various industries. The Asia Pacific region is anticipated to witness significant growth in the forthcoming years. This growth owes to the significantly increasing investments in artificial intelligence.
- North America
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia-Pacific
- Rest of the World
- Middle East & Africa
- Latin America
What is our Artificial Intelligence Market report scope?
Report Attributes
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Report Details
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Forecast Period 2022 to 2027 CAGR
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CAGR of 39.8 % over the forecast period (2022-2027)
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By Type
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- Computer/GPU Chip Hardware
- Cloud Hardware
- Other
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By Application
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- Media & Advertising
- Healthcare
- Automotive & Transportation
- Other
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By Companies
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Advanced Micro Devices, AiCure, Arm Limited, Atomwise, Inc., Ayasdi AI LLC, Baidu, Inc., Clarifai, Inc, Cyrcadia Health, Enlitic, Inc., Google LLC, H2O.ai., HyperVerge, Inc., International Business Machines Corporation, IBM Watson Health, Intel Corporation, Iris.ai AS., Lifegraph, Microsoft, NVIDIA Corporation, Sensely, Inc., Zebra Medical Vision, Inc.
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Regions Covered
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- North America
- Europe
- Asia-Pacific
- Rest of the World
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Countries Covered
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- US
- Canada
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia-Pacific
- Middle East & Africa
- Latin America
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Base Year
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2022
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Historical Year
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2017 to 2021
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Forecast Year
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2022 to 2027
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Number of Pages
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116
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Customization Available
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Yes, the report can be customized as per your needs
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Key Takeaways from this Artificial Intelligence Report
- Evaluate Artificial Intelligence market potential through analyzing growth rates (CAGR %), Volume (Units) and Value ($M) data given at country level - for product types, end use applications and by different industry verticals.
- Understand the different dynamics influencing the market - growth driving factors, specific challenges and hidden opportunities.
- Get in-depth insights on your competitor performance – revenue, shares, business strategies, financial benchmarking, product benchmarking, SWOT analysis and more.
- Analyze the sales and distribution channels across geographies to enhance top-line revenues.
- Understand the demanding supply chain with a deep dive on the value augmentation at each, in order to optimize value and bring efficiencies in your processes.
- Get a quick outlook on the Artificial Intelligence market entropy - M&A's, deals, partnerships, product launches of all key players for the past 5 years.
- Evaluate the import-export statistics, supply-demand and competitive landscape for more than top 20 countries globally for the market.
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Who are the key players in Artificial Intelligence Market?
Advanced Micro Devices, AiCure, Arm Limited, Atomwise, Inc., Ayasdi AI LLC, Baidu, Inc., Clarifai, Inc, Cyrcadia Health, Enlitic, Inc., Google LLC, H2O.ai., HyperVerge, Inc., International Business Machines Corporation, IBM Watson Health, Intel Corporation, Iris.ai AS., Lifegraph, Microsoft, NVIDIA Corporation, Sensely, Inc., Zebra Medical Vision, Inc.
What regions does this Artificial Intelligence Market report cover?
North America (the United States, Canada, and Mexico)
Europe (Germany, France, UK, Russia, and Italy)
Asia-Pacific (China, Japan, Korea, India, and Southeast Asia)
South America (Brazil, Argentina, Colombia, etc.)
The Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, and South Africa)
What are the significant types of Artificial Intelligence Market?
Computer/GPU Chip Hardware, Cloud Hardware, Other
What are the major end-use applications of the Artificial Intelligence Market?
Media & Advertising, Healthcare, Automotive & Transportation, Other
All our reports are custom made to your company needs to a certain extent, we do provide 5 free consulting hours along with purchase of each report, and this will allow you to request any additional data to customize the report as your needs.
SECONDARY RESEARCH
Secondary Research Information is collected from a number of publicly available as well as paid databases. Public sources involve publications by different associations and governments, annual reports and statements of companies, white papers and research publications by recognized industry experts and renowned academia etc. Paid data sources include third party authentic industry databases.
PRIMARY RESEARCH
Once data collection is done through secondary research, primary interviews are conducted with different stakeholders across the value chain like manufacturers, distributors, ingredient/input suppliers, end customers and other key opinion leaders of the industry. Primary research is used both to validate the data points obtained from secondary research and to fill in the data gaps after secondary research.
MARKET ENGINEERING
The market engineering phase involves analyzing the data collected, market breakdown and forecasting. Macroeconomic indicators and bottom-up and top-down approaches are used to arrive at a complete set of data points that give way to valuable qualitative and quantitative insights. Each data point is verified by the process of data triangulation to validate the numbers and arrive at close estimates.
EXPERT VALIDATION
The market engineered data is verified and validated by a number of experts, both in-house and external.
REPORT WRITING/ PRESENTATION
After the data is curated by the mentioned highly sophisticated process, the analysts begin to write the report. Garnering insights from data and forecasts, insights are drawn to visualize the entire ecosystem in a single report.
