The global market for Artificial Intelligence (AI) is estimated at US$87.4 Billion in 2023 and is projected to reach US$459.3 Billion by 2030, growing at a CAGR of 26.8% from 2023 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions.
The growth in the artificial intelligence market is driven by several factors. Firstly, the exponential increase in data generation and the need for data-driven decision-making across industries are major drivers. Secondly, advancements in computing power and the development of sophisticated AI algorithms are making AI applications more effective and accessible. Thirdly, the rising adoption of AI in healthcare for diagnostics, treatment planning, and drug discovery is significantly contributing to market growth.
Additionally, the integration of AI in financial services for fraud detection and personalized banking is expanding its application scope. Furthermore, the development of autonomous vehicles and the implementation of AI in manufacturing for automation and predictive maintenance are also propelling the market. Lastly, substantial investments by governments and private sectors in AI research and development are further driving the growth of the AI market.
The growth in the artificial intelligence market is driven by several factors. Firstly, the exponential increase in data generation and the need for data-driven decision-making across industries are major drivers. Secondly, advancements in computing power and the development of sophisticated AI algorithms are making AI applications more effective and accessible. Thirdly, the rising adoption of AI in healthcare for diagnostics, treatment planning, and drug discovery is significantly contributing to market growth.
Additionally, the integration of AI in financial services for fraud detection and personalized banking is expanding its application scope. Furthermore, the development of autonomous vehicles and the implementation of AI in manufacturing for automation and predictive maintenance are also propelling the market. Lastly, substantial investments by governments and private sectors in AI research and development are further driving the growth of the AI market.
Key Insights:
- Market Growth: Understand the significant growth trajectory of the AI Software segment, which is expected to reach US$188.2 Billion by 2030 with a CAGR of a 26.5%. The AI Hardware segment is also set to grow at 22.9% CAGR over the analysis period.
- Regional Analysis: Gain insights into the U.S. market, estimated at $30.9 Billion in 2023, and China, forecasted to grow at an impressive 30.9% CAGR to reach $87.6 Billion by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.
Why You Should Buy This Report:
- Detailed Market Analysis: Access a thorough analysis of the Global Artificial Intelligence (AI) Market, covering all major geographic regions and market segments.
- Competitive Insights: Get an overview of the competitive landscape, including the market presence of major players across different geographies.
- Future Trends and Drivers: Understand the key trends and drivers shaping the future of the Global Artificial Intelligence (AI) Market.
- Actionable Insights: Benefit from actionable insights that can help you identify new revenue opportunities and make strategic business decisions.
Key Questions Answered:
- How is the Global Artificial Intelligence (AI) Market expected to evolve by 2030?
- What are the main drivers and restraints affecting the market?
- Which market segments will grow the most over the forecast period?
- How will market shares for different regions and segments change by 2030?
- Who are the leading players in the market, and what are their prospects?
Report Features:
- Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2023 to 2030.
- In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
- Company Profiles: Coverage of major players such as Amazon Web Services, Inc., Baidu Inc., Cisco Systems, and more.
- Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.
Select Competitors (Total 446 Featured):
- Amazon Web Services, Inc.
- Baidu Inc.
- Cisco Systems
- Inc.
- Google LLC
- IBM Corporation
- Intel Corporation
- Microsoft Corporation
- NVIDIA Corporation
- Oracle Corporation
- Siemens AG
Table of Contents
I. METHODOLOGYII. EXECUTIVE SUMMARY2. FOCUS ON SELECT PLAYERSIII. MARKET ANALYSISFRANCEGERMANYITALYUNITED KINGDOMSPAINRUSSIAREST OF EUROPEREST OF ASIA-PACIFICIV. COMPETITION
1. MARKET OVERVIEW
3. MARKET TRENDS & DRIVERS
4. GLOBAL MARKET PERSPECTIVE
UNITED STATES
CANADA
JAPAN
CHINA
EUROPE
ASIA-PACIFIC
INDIA
SOUTH KOREA
REST OF WORLD
Companies Mentioned
- Amazon Web Services, Inc.
- Baidu Inc.
- Cisco Systems
- Inc.
- Google LLC
- IBM Corporation
- Intel Corporation
- Microsoft Corporation
- NVIDIA Corporation
- Oracle Corporation
- Siemens AG
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 1222 |
| Published | November 2024 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value ( USD | $ 87.4 Billion |
| Forecasted Market Value ( USD | $ 459.3 Billion |
| Compound Annual Growth Rate | 26.8% |
| Regions Covered | Global |
| No. of Companies Mentioned | 11 |
