Market Research Report

Global Artificial Intelligence Market Research Report: Forecast (2023-2028)

By Offering (Hardware, Software, Services), By Technology (Machine Learning, Natural Language Processing, Context-Aware Computing, Computer Vision), By Deployment (Cloud, On-premis...es), By Business Function (Marketing and Sales, Security, Finance, Law, Human Resource, Other), By Organization Size (Large enterprises, Small and medium-sized enterprises [SMEs]), By End User (BFSI, Retail, Law, Healthcare, Advertising & Media, Manufacturing, Automotive and Transportation, Others [IT/ITES, Telecommunication, etc.]), By Region *(North America, South America, Europe, Middle East & Africa, Asia-Pacific), By Company (Intel Corporation, Microsoft, IBM, Google, Amazon Web Services, Baidu, Inc., NVIDIA Corporation, H2O.ai., Sensely, Inc., Enlitic, Inc., AiCure, Arm Limited, Clarifai, Inc., Cisco Systems Inc., Kyndryl Inc., Others) Read more

  • ICT & Electronics
  • Mar 2023
  • 211
  • IT55066

Market Definition

Artificial Intelligence (AI) is a smart simulation of humans that is processed by machines, particularly computer systems. Here, applications might include natural language processing, expert systems, speech recognition, and machine vision, among others. Many prominent companies are making substantial investments in technology with the principal aim to make AI more accessible for enterprise use cases.

Global Artificial Intelligence Market (2023-28): Market Insights & Projections

The Global Artificial Intelligence Market is expected to grow at a CAGR of around 35.1% during the forecast period, i.e., 2023-28. Most of the market growth would be propelled by the growing awareness across different industries about the advent of new technologies that can help them expedite research, development, production, & distribution processes, i.e., leading to increasing investments in Artificial Intelligence (AI)-based solutions to improve the functionality & performance of their operations at low costs. In addition, significant advances in automation, cloud computing, 5G deployment, & large databases are also projected to drive the Artificial Intelligence Market in the forecast period.

Report Coverage Details
Study Period Historical Data: 2018-21
Base Year: 2022
Forecast Period: 2023-28
CAGR (2023-2028) 35.1%
Regions Covered North America: US, Canada, Mexico
Europe: Germany, The UK, France, Spain, Italy, Rest of Europe
Asia-Pacific: China, India, Japan, South Korea, Rest of Asia-Pacific
South America: Brazil, Rest of South America
Middle East & Africa: UAE, Saudi Arabia, South Africa, Rest of MEA
Key Companies Profiled Intel Corporation, Microsoft, IBM, Google, Amazon Web Services, Baidu, Inc., NVIDIA Corporation, H2O.ai., Sensely, Inc., Enlitic, Inc., AiCure, Arm Limited, Clarifai, Inc., Cisco Systems Inc., Kyndryl Inc., Others
Unit Denominations USD Million/Billion

Besides, since artificial intelligence reflects the growth of data-based technologies and advancements in deep learning, the need to achieve robotic autonomy to maintain a competitive edge in the market is further fueling the demand for these solutions and curating the fundamentals underlying the industry dynamics throughout the world.


Global Artificial Intelligence Market Research Report: Forecast (2023-2028)

Nonetheless, trends of multi-cloud functioning along with the elevating need for cloud-based intelligence services are the other areas triggering the demand for AI solutions. Today, the utilization of AI tools offers cloud computing innovative and expanded value, which primarily increases process viability and establishes new technologies, bridging the gap between cloud computing and contemporary advancements, thereby meeting new business endeavors.

Global Artificial Intelligence Market Drivers:

Accelerating Adoption of Hyper-Personalized AI Services by Customers - As industries are aware of the risks that AI holds, many new entrants across diverse sectors are using these solutions for business growth. Because of it, a rise in customer engagement with these technologies for a successful business in a competitive and dynamic environment is augmenting the demand for AI solutions, tailoring the overall market expansion through the forecast period. Since businesses can build hyper-personalized marketing strategies as per their needs, the provision of AI is increasing rapidly globally and driving the Artificial Intelligence Market through 2028.

Global Artificial Intelligence Market Challenges:

Restricted Protection Privacy with AI to Affect the Market Trajectory - Since AI technology employs capabilities like Machine Learning and Deep Learning, among others, it might showcase rigidity in managing data privacy and varied algorithms. These technologies offer search algorithms, recommendation engines, and ad tech networks, which could exploit sensitive user data. It is one of the primary aspects that might restrain the rapid utilization of AI and negatively influence the overall market growth in the coming years.

Global Artificial Intelligence Market (2023-28): Segmentation Analysis

The Global Artificial Intelligence Market study from MarkNtel Advisors analyses the major trends in each sub-segment and includes predictions for the period 2023–2028 at the global, regional, and national levels. The market has been segmented in our analysis based on offering and technology.

Based on Offering:

  • Hardware
  • Software
  • Services

Among all, Software acquired the largest share of the Global Artificial Intelligence Market in recent years and is anticipated to prevail in the same trend during the forecast period. This growth attributes to the rapidly increasing technological advancements in software solutions like information storage capacity, high computing power, and parallel processing capabilities to deliver high-end services.

Besides, backed by the potential to extract data, provide real-time insight, and bring efficiency to decision-making, the software segment in AI is attaining substantial recognition and utilization throughout the world in different industries.

Based on Technology:

  • Machine Learning
  • Natural Language Processing
  • Context-Aware Computing
  • Computer Vision

Here, Machine Learning is anticipated to generate massive revenue and make a substantial contribution to the overall Global Artificial Intelligence Market expansion during the forecast period. It owes to the growing awareness across industries about the scope of AI, resulting in substantial investments for both AI platforms and cognitive applications, including tagging, categorization, hypothesis, alerting, generation, filtering, clustering, navigation, and visualization, facilitating the development of advisory, intelligent, and cognitively enabled solutions. Besides, increasing investments in research and development activities by leading players is another aspect that shall boost MacMachine Learning technology in artificial intelligence during the forecast period.

Based on End-User:

  • BFSI
  • Retail
  • Law
  • Healthcare
  • Advertising & Media
  • Manufacturing
  • Automotive & Transportation
  • Others (IT/ITES, Telecommunication, etc.)

Among all, the BFSI sector holds a prominent share of the Artificial Intelligence Market, owing to the ever-increasing utilization of AI-based solutions in banks & other financial institutions to detect fraudulent activities, credit scoring applications, trading decisions, study financial market impact analysis, risk management, etc.

More & more authorities operating in the BFSI sector are making use of risk & compliance applications and regulatory & supervisory technologies to examine FinTech-based apps used for regulatory, supervisory, and oversight purposes.

Similarly, regulated institutions are increasingly creating & implementing FinTech applications for reporting and regulatory & compliance obligations. Moreover, AI combined with behavioral sciences has enabled large financial organizations to prevent wrongdoing and focus more on proactive prevention. Hence, these aspects are driving the artificial intelligence market across the BFSI sector.

Global Artificial Intelligence Market (2023-28): Regional Analysis

Geographically, the Global Artificial Intelligence Market expands across:

  • North America
  • South America
  • Europe
  • Middle East & Africa
  • Asia-Pacific

Here, North America dominated the Global Artificial Intelligence Market with the largest share in recent years and is anticipated to prevail in the same trend during the forecast period. Most of the dominance attributes to the presence of favorable government policies, investments, and initiatives to encourage the adoption of artificial intelligence (AI) in diverse end-user industries.

The same aspect is also attracting various regional companies to make investments in the technology and bring new developments. It, in turn, is making a substantial contribution to the overall market expansion across North America.

On the other hand, Asia-Pacific is anticipated to emerge as an area of lucrative opportunities for the players and make significant contributions to the overall market expansion in the coming years. This attributes principally to the increasing investments in artificial intelligence, particularly across countries like China & India.

Besides, an elevation in the number of start-ups in the region is also hinting toward an acceleration in the adoption of AI to improve operational efficiency and enable process automation, thereby driving the AI market across Asia-Pacific.

Global Artificial Intelligence Industry Recent Developments:

  • In June 2022, Salesforce and AT&T joined forces on a Connected Climate Initiative (CCI) to reduce greenhouse emissions by 1 gigaton by 2035. This collaboration enables AT&T to use Salesforce's Net Zero Cloud to measure carbon footprints.
  • The same year in May, Google announced that it had signed an agreement with the Central Dutch government for its public sector to take advantage of Google Workspace's suite of tools & offerings. This agreement shall offer the Dutch government more flexibility & productivity and facilitate a new hybrid working environment.

Gain a Competitive Edge with Markntel Advisors’ Global Artificial Intelligence Market Report

  • Global Artificial Intelligence Market report provides a detailed and thorough analysis of market size, growth rate, competitive landscape, and key players. This comprehensive analysis helps businesses gain a holistic understanding of the market dynamics and make informed decisions.
  • This report also highlights current market trends and future projections, allowing businesses to identify emerging opportunities and potential challenges. By understanding market forecasts, companies can align their strategies and stay ahead of the competition.
  • Global Artificial Intelligence Market report aids in assessing and mitigating risks associated with entering or operating in the market. By understanding market dynamics, regulatory frameworks, and potential challenges, businesses can develop strategies to minimize risks and optimize their operations.

Frequently Asked Questions

   A. The Global Artificial Intelligence Market is projected to grow at a CAGR of around 35.1% during 2023-28.

   A. The growing adoption of advanced technologies by enterprises across different industries to enhance the functionality & performance of their various business operations at low costs is the prime aspects projected to drive the Artificial Intelligence Market during 2023-28.

   A. 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. are the key companies participating in the Artificial Intelligence Market.

   A. Machine Learning would provide profitable opportunities to the Artificial Intelligence Market during 2023-28.

   A. Globally, North America would provide lucrative prospects for the Global Artificial Intelligence Market in the years ahead.

   A. Restricted protection privacy with AI to affect the market trajectory during the forecast period.

Global Artificial Intelligence Market Research Report (2023-2028) - Table of Contents

 

  1. Market Segmentation
  2. Introduction
    1. Product Definition
    2. Research Process
    3. Assumptions
  3. Executive Summary
  4. Global Artificial Intelligence Market Evolution Timeline
    1. Technology Evolution
    2. Key Developments Across Regions
    3. Key Developments in Applications
    4. Upcoming Developments
  5. Global Artificial Intelligence Market Start-up Ecosystem, 2018-2023
    1. Entrepreneurial Activity Year on Year
    2. YoY Amount Invested
    3. Series Wise Funding Received
    4. Funding Received by Top Companies
    5. Key Investors Active in the Market
  6. Global Artificial Intelligence Market Research & Development
    1. Patents & Intellectual Property Rights
    2. R&D Investments on Emerging Technologies
  7. Global Artificial Intelligence Market Trends & Developments
  8. Global Artificial Intelligence Market Dynamics
    1. Growth Drivers
    2. Challenges
  9. Global Artificial Intelligence Market Regulations, Policies & Standards
  10. Global Artificial Intelligence Market Value Chain Analysis
  11. Global Artificial Intelligence Market Hotspots & Opportunities
  12. Global Artificial Intelligence Market Outlook, 2018-2028F
    1. Market Size & Analysis
      1. By Revenues (USD Million)
    2. Market Share & Analysis
      1. By Offering
        1. Hardware
        2. Software
        3. Services
      2. By Technology
        1. Machine Learning
        2. Natural Language Processing
        3. Context-Aware Computing
        4. Computer Vision
      3. By Deployment
        1. Cloud
        2. On-premises
      4. By Business Function
        1. Marketing and Sales
        2. Security
        3. Finance
        4. Law
        5. Human Resource
        6. Other
      5. By Organization Size
        1. Large enterprises
        2. Small and medium-sized enterprises (SMEs)
      6. By End User
        1. BFSI
        2. Retail
        3. Law
        4. Healthcare
        5. Advertising & Media
        6. Manufacturing
        7. Automotive and Transportation
        8. Others (IT/ITES, Telecommunication, etc.)
      7. By Region
        1. North America
        2. South America
        3. Europe
        4. Middle East & Africa
        5. Asia-Pacific
      8. By Company
        1. Competition Characteristics
        2. Strategies & Future Plans
          1. Mergers & Acquisitions
          2. Strategic Alliances
          3. Consortiums & Associations
  13. North America Artificial Intelligence Market Outlook, 2018-2028F
    1. Market Size & Analysis
      1. By Revenues (USD Million)
    2. Market Share & Analysis
      1. By Offering
      2. By Technology
      3. By Deployment
      4. By Business Function
      5. By Organization Size
      6. By End User
      7. By Country
        1. The US
        2. Canada
        3. Mexico
    3. The United States Artificial Intelligence Market Outlook, 2018-2028F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
      2. Market Share & Analysis
        1. By Offering
        2. By Technology
        3. By Deployment
    4. Canada Artificial Intelligence Market Outlook, 2018-2028F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
      2. Market Share & Analysis
        1. By Offering
        2. By Technology
        3. By Deployment
    5. Mexico Artificial Intelligence Market Outlook, 2018-2028F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
      2. Market Share & Analysis
        1. By Offering
        2. By Technology
        3. By Deployment
  14. South America Artificial Intelligence Market Outlook, 2018-2028F
    1. Market Size & Analysis
      1. By Revenues (USD Million)
    2. Market Share & Analysis
      1. By Offering
      2. By Technology
      3. By Deployment
      4. By Business Function
      5. By Organization Size
      6. By End User
      7. By Country
        1. Brazil
        2. Rest of South America
    3. Brazil Artificial Intelligence Market Outlook, 2018-2028F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
      2. Market Share & Analysis
        1. By Offering
        2. By Technology
        3. By Deployment
  15. Europe Artificial Intelligence Market Outlook, 2018-2028F
    1. Market Size & Analysis
      1. By Revenues (USD Million)
    2. Market Share & Analysis
      1. By Offering
      2. By Technology
      3. By Deployment
      4. By Business Function
      5. By Organization Size
      6. By End User
      7. By Country
        1. Germany
        2. The UK
        3. France
        4. Italy
        5. Spain
        6. Rest of Europe
    3. Germany Artificial Intelligence Market Outlook, 2018-2028F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
      2. Market Share & Analysis
        1. By Offering
        2. By Technology
        3. By Deployment
    4. The UK Artificial Intelligence Market Outlook, 2018-2028F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
      2. Market Share & Analysis
        1. By Offering
        2. By Technology
        3. By Deployment
    5. France Artificial Intelligence Market Outlook, 2018-2028F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
      2. Market Share & Analysis
        1. By Offering
        2. By Technology
        3. By Deployment
    6. Italy Artificial Intelligence Market Outlook, 2018-2028F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
      2. Market Share & Analysis
        1. By Offering
        2. By Technology
        3. By Deployment
    7. Spain Artificial Intelligence Market Outlook, 2018-2028F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
      2. Market Share & Analysis
        1. By Offering
        2. By Technology
        3. By Deployment
  16. Middle East & Africa Artificial Intelligence Market Outlook, 2018-2028F
    1. Market Size & Analysis
      1. By Revenues (USD Million)
    2. Market Share & Analysis
      1. By Offering
      2. By Technology
      3. By Deployment
      4. By Business Function
      5. By Organization Size
      6. By End User
      7. By Country
        1. The UAE
        2. Saudi Arabia
        3. South Africa
        4. Rest of MEA
    3. The UAE Artificial Intelligence Market Outlook, 2018-2028F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
      2. Market Share & Analysis
        1. By Offering
        2. By Technology
        3. By Deployment
    4. Saudi Arabia Artificial Intelligence Market Outlook, 2018-2028F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
      2. Market Share & Analysis
        1. By Offering
        2. By Technology
        3. By Deployment
    5. South Africa Artificial Intelligence Market Outlook, 2018-2028F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
      2. Market Share & Analysis
        1. By Offering
        2. By Technology
        3. By Deployment
  17. Asia-Pacific Artificial Intelligence Market Outlook, 2018-2028F
    1. Market Size & Analysis
      1. By Revenues (USD Million)
    2. Market Share & Analysis
      1. By Offering
      2. By Technology
      3. By Deployment
      4. By Business Function
      5. By Organization Size
      6. By End User
      7. By Country
        1. China
        2. India
        3. Japan
        4. South Korea
        5. Rest of Asia-Pacific
    3. China Artificial Intelligence Market Outlook, 2018-2028F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
      2. Market Share & Analysis
        1. By Offering
        2. By Technology
        3. By Deployment
    4. India Artificial Intelligence Market Outlook, 2018-2028F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
      2. Market Share & Analysis
        1. By Offering
        2. By Technology
        3. By Deployment
    5. Japan Artificial Intelligence Market Outlook, 2018-2028F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
      2. Market Share & Analysis
        1. By Offering
        2. By Technology
        3. By Deployment
    6. South Korea Artificial Intelligence Market Outlook, 2018-2028F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
      2. Market Share & Analysis
        1. By Offering
        2. By Technology
        3. By Deployment
  18. Global Artificial Intelligence Market Key Strategic Imperatives for Success & Growth
  19. Competition Outlook
    1. Competition Matrix
      1. Product Portfolio
      2. Target Markets
      3. Research & Development
      4. Strategic Alliances
      5. Strategic Initiatives
    2. Company Profiles (Business Description, Product Segments, Business Segments, Financials, Strategic Alliances/ Partnerships, Future Plans)
      1. Intel Corporation
      2. Microsoft
      3. IBM
      4. Google
      5. Amazon Web Services
      6. Baidu, Inc.
      7. NVIDIA Corporation
      8. H2O.ai.
      9. Sensely, Inc.
      10. Enlitic, Inc.
      11. AiCure
      12. Arm Limited
      13. Clarifai, Inc.
      14. Cisco Systems Inc.
      15. Kyndryl Inc.
      16. Others
  20. Disclaimer


Artificial Intelligence Market Segmentation