Press Release Description

Proliferating Advancements to Drive the Artificial Intelligence Market

A recent research study by MarkNtel Advisors has revealed that the Global Artificial Intelligence Market is set to record around 35.1% CAGR during 2023-28. The growing use of advanced technologies across different industries for enhanced functionality & performance of business operations at low costs is the prime aspect projected to drive the market in the coming years. Massive investments are being made by organizations in deploying AI-based solutions to expedite research, development, production, & distribution processes.

In addition, remarkable advances in automation, cloud computing, 5G, & large databases are further augmenting the use of AI across diverse end-user verticals. Moreover, the trend of multi-cloud functioning, the mounting use of smart machines in industries, the escalating need for cloud-based intelligence services, and significant advances in deep learning & deep neural networks are other crucial aspects expected to drive the artificial intelligence market during the forecast period.

Machine Learning is a Significant Revenue Generator for the Artificial Intelligence Market

Machine Learning (ML) is a subset of Artificial Intelligence. Different industries are massively investing in AI platforms and cognitive applications, including tagging, categorization, hypothesis, alerting, generation, filtering, clustering, navigation, & visualization, i.e., promoting the development of advisory, intelligent, and cognitively enabled solutions. The healthcare sector is increasingly deploying ML algorithms to assess millions of distinct data points, predict outcomes, and provide rapid risk scores & exact resource allocation. One of the crucial applications of ML in the healthcare sector is the detection and diagnosis of illnesses & conditions that are sometimes difficult to identify. Hence, these aspects indicate the augmenting demand for Machine Learning solutions and, in turn, driving the growth of the artificial intelligence market.

Global Artificial Intelligence Market

North America to Continue its Dominance in the Market throughout 2028

Favorable government policies, mega investments, and various initiatives toward encouraging the adoption of artificial intelligence (AI) in different end-user verticals like BFSI, retail & e-commerce, telecom, and travel & hospitality are driving the North America Artificial Intelligence Market. Moreover, the rich availability of well-established IT infrastructure, coupled with increased funding for deploying AI solutions in the defense sector to enhance the affordability & effectiveness of military operations, are other prominent aspects stimulating the regional market growth.

Competitive Landscape

The key companies operating in the Global Artificial Intelligence Market include Intel Corporation, Microsoft, IBM, Google, Amazon Web Services, Baidu, Inc., NVIDIA Corporation, H2O.ai., Sensely, Inc., Salesforce Inc., Enlitic, Inc., AiCure, Arm Limited, Clarifai, Inc., Cisco Systems Inc., and Kyndryl Inc.

Key Questions Answered in the Research Report

  1. What are the current & future trends in the Global Artificial Intelligence Market?
  2. How has the industry been evolving in terms of geography & product adoption?
  3. How has the competition been shaping across various regions, followed by their comparative factorial indexing?
  4. What are the key growth drivers & challenges for the Global Artificial Intelligence Market?
  5. What are the customer orientation, purchase behavior, & expectations from the leading players in the Global Artificial Intelligence Market?

Market Segmentation:

  1. By Offering (Hardware, Software, Services)
  2. By Technology (Machine Learning, Natural Language Processing, Context-Aware Computing, Computer Vision)
  3. By Deployment (Cloud, On-Premise)
  4. By Business Function (Marketing & Sales, Security, Finance, Law, Human Resource)
  5. By Organization Size (Small & Medium Enterprises, Large Enterprises)
  6. By End-User (BFSI, Retail, Healthcare, Advertising & Media, Manufacturing, Automotive & Transportation, Others (IT/ITES, Telecommunication, etc.))
  7. By Region (North America, South America, Europe, Middle East & Africa, Asia-Pacific)
  8. By Country (The US, Canada, Mexico, Brazil, The UK, Germany, France, Italy, Spain, Saudi Arabia, The UAE, South Africa, China, Japan, South Korea, India)

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