World’s Top 7 Companies Making Strides in the Global Artificial Intelligence Market

Google LLC, Microsoft Corporation, IBM Corporation, Intel Corporation, Cisco Systems, Inc., Apple Inc., and NVIDIA Corporation, among others, are the major players in the global artificial intelligence market.

The global artificial intelligence market is expected to grow at a CAGR of about 23% in the forecast period of 2022-2027. As per the analysis by Expert Market Research, the market is expected to be driven by the rising uptrend of using automated technology and AI in nearly every sector. The increasing technological advancements in the market are also supporting market growth. 

The rising technological advancements are supporting the boom in the artificial intelligence market in industries worldwide to increase their efficiency in production with low costs of manufacturing. Additionally, there are a massive number of newly designed products and innovations available. The improved performance of AI-based devices in data storage, analysis & interpretation compared to manual methods make AI more popular in almost every industrial sector. 

On 19th June 2021, Alphabet’s Google (NASDAQ: GOOGL) announced that it is working on creating a new method of categorising skin tones that would act as an alternative to currently used methodologies. Many technology researchers as well as dermatologists regarded current systems as inadequate for analysing whether specific products do or do not have a bias against certain skin tones. Tech companies can use AI technology to recognise skin tones in people and analyse the success rate of facial recognition systems or various type of smartwatch heart-rate sensors across skin tones. 

Intel Corporation (NASDAQ: INTC) is investing $3.5 billion to equip its New Mexico operations to facilitate the manufacturing of technologies for advanced semiconductor packaging. Among the manufactured products would be Foveros, Intel’s breakthrough 3D packaging technology. The multi-year investment is expected to create a significant number of jobs, including 1,000 construction jobs as well as 700 high-tech jobs. It would also support an additional 3,500 jobs within the New Mexico state. Construction began in late 2021. 

Persistent Systems (Pune) announced it’s expanding its collaboration with International Business Machines Corp. IBM (NYSE: IBM) less than a month after the Pune-based IT firm joined the IBM partner ecosystem.

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Top 7 Global Artificial Intelligence Market Companies in the World: 

Google LLC

Google LLC is a well-known American technology company with offices worldwide, specialising in Internet-related products and services. There offerings include a famous search engine, cloud computing, and online advertising technologies, along with software, and hardware. It is considered to be one of the Big Four technology companies, with the others comprising of Amazon, Apple, and Facebook. It is a wholly owned subsidiary of Alphabet Inc. Company. 

The work of Google work in the developing artificial intelligence is creating new opportunities to improve services worldwide, in sectors ranging from business to education and healthcare. Additionally, Google is working on identifying the best way to integrate aspects such as security, privacy, fairness and within the systems directly. There are over 150,000 employees in the company, and the company had a revenue of almost $257 billion in 2021. 

Microsoft Corporation 

An American multinational company, Microsoft Corporation is technology company that produces a wide range of consumer electronics, personal computers, computer software, and related services. Its popular software products include operating systems such as Microsoft Windows, Microsoft Office, and the Edge series of web browsers. Its flagship hardware products include video gaming consoles through Xbox and a line-up of personal computers with touch screens under Microsoft Surface. 

In the 2020 Fortune 500 rankings, Microsoft ranked No. 21 amongst the largest corporations in the United States by total revenue. Microsoft is among the Big Five companies of the United States IT industry, alongside with Google, Apple, Amazon, and Facebook. The company has over 181,000 employees as of 2021, with net revenue of USD 168 billion. The company has more than 180 office locations, operating in 190 countries. 

Intel Corporation

A United States-based multinational, Intel Corporation is the well-known developer of microprocessors, including the x86 series that is commonly used in most personal computers in the market. It is among the world’s largest semiconductor chip manufacturers by revenue. Intel’s approximate revenue was USD 79.02 billion in 2021, with over 110,600 employees working all over the world. 

IBM Corporation

International Business Machines Corporation is multinational company specialising in technology with headquarters in the United States, and operations across more than 170 countries. IBM produces and sells computer hardware and software, along with middleware, providing hosting and consulting services in various niches, including nanotechnology and mainframe computing. IBM is among the 30 companies featured on the Dow Jones Industrial Average as well as one of the largest employers in the world, with over 345,000 employees as of 2021. At least 70% of IBM employees are work from outside the United States, and India is the country with the most significant number of IBM employees. 

Cisco Systems, Inc 

Cisco Systems, Inc. is an technology conglomerate with a presence around the world. The company is involved in the development, manufacture, and sales of various software, hardware for networking, telecommunications equipment and other products and services utilising high-technology. Its acquired subsidiaries include OpenDNS, Jasper, Webex, and Jabber. Cisco has specialisation in particular tech markets, such as IoT or Internet of Things, energy management, and domain security. 

Apple Inc. 

Apple Inc. is an American giant in technology, specialising in consumer electronics, online services, and computer software. By revenue, Apple ranks as the highest earning company. In 2021, the company became the 4th largest PC vendor by unit sales as well as the 4th largest smartphone manufacturer. Its multiple subsidiaries include Apple Sales International, Beats Electronics, Braeburn Capital, Apple Energy, LLC, Anobit, Beddit, Apple Services, Apple Worldwide Video, and Claris. The company recorded a revenue of USD 365.817 billion in the year 2021. 

NVIDIA Corporation

An American multinational company, Nvidia Corporation specialises in designing advanced graphics processing units (GPUs) utilised for gaming purposes and professional markets. It also designs systems on a chip unit (SoCs) for applications in mobile computing along with the automotive market. The GeForce primary GPU line of Nvidia competes with the AMD Radeon GPU. Beyond processing units, the company expanded within the gaming industry by launching handheld game consoles. Its line-up includes the Shield Tablet, the Shield Portable, Shield Android TV, and the GeForce cloud gaming service. The Nvidia professional range of GPUs find applications in varied industries such as manufacturing design, engineering, construction, automotive, architecture, entertainment, media, and scientific research. It has over 18,970 employees as of 2021.

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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.