Causal AI Global Market Report 2024

The causal AI market size has grown exponentially in recent years. It will grow from $9.01 billion in 2023 to $13.58 billion in 2024 at a compound annual growth rate (CAGR) of 50.7%. The growth observed during the historic period can be attributed to several factors, including the evolution of agricultural practices, increased awareness of oil degradation, a growing population, advancements in agricultural technology, and greater awareness of micronutrient deficiencies.

The causal AI market size is expected to see exponential growth in the next few years. It will grow to $68.36 billion in 2028 at a compound annual growth rate (CAGR) of 49.8%. The projected growth in the forecast period can be attributed to sustainable agriculture practices, the effects of climate change, an increasing demand for organic farming, government subsidies and regulations, and technological innovations in micronutrient delivery. Major trends anticipated in the forecast period include changing dietary preferences, research and development in micronutrient formulations, expansion of the aquaculture industry, rising demand for biofortified crops, and the globalization of agriculture markets.

The increasing demand for AI technologies is poised to drive the expansion of the casual AI market in the future. AI technologies encompass a wide range of tools and technologies that utilize artificial intelligence (AI) to perform tasks traditionally requiring human intelligence. The integration of AI technologies is fueling the need for causal AI solutions that enhance productivity, decision-making, and overall business performance. With advancing AI capabilities, industries are expected to discover novel ways to leverage these technologies for innovation and competitive advantage. For example, the US Bureau of Labor Statistics predicts a 21% growth in jobs for software developers specializing in conversational AI between 2020 and 2030. Hence, the increasing demand for AI technologies is fueling the growth of the casual AI market.

Key players in the casual AI market are concentrating on developing innovative products such as DecisionOS to bolster their market presence. DecisionOS is an operating system designed for decision-making, serving as a software platform that transforms raw data into reliable decision-making workflows. For instance, in January 2023, CausaLens, a UK-based deep tech company and a leader in causal AI, introduced DecisionOS powered by Casual AI. This platform aims to deliver actionable and explainable insights for businesses by uncovering cause-and-effect relationships within data and establishing trust through white-box causal models. It empowers data science teams to construct robust causal AI models and offers components for visualizing causal graphs and models, facilitating the creation of intuitive interfaces and seamless integration with databases and enterprise systems.

In March 2023, Bayesia S.A.S., a France-based provider of Bayesian network software, formed a partnership with Causality Link for an undisclosed amount. This collaboration resulted in a platform utilizing artificial intelligence, natural language processing, and machine learning to translate financial news into actionable insights. This technology has applications in investment management, risk assessment, and financial modeling, making it easier for investors and researchers to harness the benefits of advanced technologies. Causality Link is a US-based advanced AI-driven research platform.

Major companies operating in the causal AI market report are Apple Inc., Google LLC, Microsoft Corporation, Alibaba Group Holding Limited, Facebook Inc., Huawei Technologies Co. Ltd., Amazon Web Services Inc., Intel Corporation, The International Business Machines Corporation, Adobe Inc., Cognizant, Dynatrace Inc., DataRobot Inc., Logility Inc., CausaLens, Modzy, Nexosis Inc., Infinite Analytics, Incrmntal, Parabole.ai.

North America was the largest region in the casual AI market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the causal AI market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the causal AI market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The causal AI market includes revenues earned by entities by providing services such causal inference software, predictive modeling solutions, causal analytics platforms, causal graph visualization, custom causal models. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The causal AI market also includes sales of IoT devices, specialized sensors, CPUs and GPUs. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

Causal AI, or causal artificial intelligence, is a subset of artificial intelligence that focuses on comprehending and elucidating cause-and-effect relationships. The primary goal of causal AI is to elucidate the underlying causes and effects of events or behaviors. It can be utilized to complement human decision-making, quantify the impact of various interventions, and conduct scenario planning.

The main components of causal AI consist of solutions and services. Causal AI solutions typically involve providing workshops or training sessions to aid employees in grasping the fundamentals of causal inference and how to utilize specific software solutions. These solutions are deployed via both cloud and on-premises models across various sectors including healthcare and life sciences, banking, financial services and insurance (BFSI), retail and ecommerce, transportation and logistics, manufacturing, and other verticals.

The causal AI market research report is one of a series of new reports that provides causal AI market statistics, including causal AI industry global market size, regional shares, competitors with a causal AI market share, detailed causal AI market segments, market trends and opportunities, and any further data you may need to thrive in the causal AI industry. This causal AI market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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