Reports

Global Artificial Intelligence Market to Reach USD 6 Trillion by 2026, Bolstered by the Rising Digitisation of Data

Global Artificial Intelligence Market: By Solution: Hardware, Software, Services; By Technology: Machine Learning, Natural Language Processing, Context-Aware Computing, Computer Vision, Robotics; By Type; By End Use; Regional Analysis; Historical Market and Forecast (2018-2028); Competitive Landscape; Industry Events and Developments

Global Artificial Intelligence Market Outlook

The global artificial intelligence market reached a value of around USD 1.2 trillion in 2020. The market is further expected to grow at a CAGR of about 23% in the forecast period of 2023-2028 to reach a value of about USD 6 trillion by 2026.

 

Artificial Intelligence Market

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North America to Lead the Artificial Intelligence Market in the Forecast Period

In the forecast period of 2023-2028, North America is expected to be the largest artificial intelligence market. One of the primary growth drivers in the regional market for artificial intelligence (AI) is the rising investment by major technology companies in developing AI for various applications in a wide range of industries.

 

Artificial Intelligence Market by Solution

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Artificial Intelligence: Market Segmentation

Artificial intelligence or AI refers to the technology capable of performing functions that usually involve human understanding, including visual perception, speech recognition, decision-making, as well as language translation. Based on the solution, the industry can be divided into the following:

  • Hardware
  • Software
  • Services

On the basis of technology, the global artificial intelligence (AI) industry can be segmented as follows:

  • Machine Learning
  • Natural Language Processing (NLP)
  • Context-Aware Computing
  • Computer Vision
  • Robotics

Based on types, the market can be categorised into narrow/weak AI and general/strong AI.

Artificial intelligence finds its end-uses in the following sectors:

  • Healthcare
  • BFSI
  • Automotive and Transportation
  • Security
  • Aerospace
  • Defence
  • Agriculture
  • Retail
  • Financial
  • Manufacturing
  • Advertisement and Marketing
  • Others

The regional markets can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

 

Artificial Intelligence Market by Region

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Rising Adoption of the Technology Across Organisations to Bolster the Artificial Intelligence Market

Al has become a support network for workers as it improves connectivity and completes critical activities and introduces well-being and health-oriented strategies. It also replaces surveys at work and conversations in the boardroom that produce human performance data across multiple parameters. In addition, in contrast to manual processes, AI is more effective because it is quicker, provides managers and HR with personalised feedback, and helps to track organisational performance in real-time. These advantages, which promote productivity while tracking worker satisfaction, have led to the rising adoption of the technology across workspaces, which has led to the growth of the global artificial intelligence market.

Aside from the advantages of AI, an increase in cloud-based AI services is also helping to fuel the global artificial intelligence industry growth. The demand for Al products and services based on the cloud has increased as the use of Al technology in the on-site data centre is expensive. It encourages major public cloud players to use their technological skills to include numerous Al goods and services in their cloud platforms.

Some of the Al-powered applications across industries include the use of recommendation engines, price optimisation, lead generation, chatbots, and supply chain optimisation. Thus, the market is expected to be further catalysed in the coming years due to the rising integration of AI within a wide range of industries.

 

Key Industry Players in the Global Artificial Intelligence Market

The report gives a detailed analysis of the following key players in the global artificial intelligence market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

  • Google LLC
  • Microsoft Corporation
  • IBM Corporation
  • Intel Corporation
  • Cisco Systems, Inc.
  • Apple Inc.
  • NVIDIA Corporation
  • Others

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.

 

REPORT FEATURES DETAILS
Base Year 2022
Historical Period 2018-2022
Forecast Period 2023-2028
Scope of the Report Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- Solution, Technology, Type, End Use, Region
Breakup by Solution Hardware, Software, Services
Breakup by Technology Machine Learning, Natural Language Processing, Context-Aware Computing, Computer Vision, Robotics
Breakup by Type Narrow/Weak AI, General/Strong AI
Breakup by End Use Healthcare, BFSI, Automotive and Transportation, Security, Aerospace, Defence, Agriculture, Retail, Financial, Manufacturing, Advertisement and Marketing, Others
Breakup by Region North America, Europe, Asia Pacific, Latin America, Middle East and Africa
Market Dynamics SWOT, Porter's Five Forces, Key Indicators for Price and Demand
Competitive Landscape Market Structure, Company Profiles- Company Overview, Product Portfolio, Demographic Reach and Achievements, Certifications
Companies Covered Google LLC, Microsoft Corporation, IBM Corporation, Intel Corporation, Cisco Systems, Inc., Apple Inc., NVIDIA Corporation, Others
Report Price and Purchase Option Explore our purchase options that are best suited to your resources and industry needs.
Delivery Format Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option.

 

*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.

1    Preface
2    Report Coverage – Key Segmentation and Scope
3    Report Description
    3.1    Market Definition and Outlook
    3.2    Properties and Applications
    3.3    Market Analysis
    3.4    Key Players
4    Key Assumptions
5    Executive Summary
    5.1    Overview
    5.2    Key Drivers
    5.3    Key Developments
    5.4    Competitive Structure
    5.5    Key Industrial Trends
6    Snapshot
    6.1    Global
    6.2    Regional
7    Opportunities and Challenges in the Market
8    Global Artificial Intelligence Market Analysis
    8.1    Key Industry Highlights
    8.2    Global Artificial Intelligence Historical Market (2018-2022) 
    8.3    Global Artificial Intelligence Market Forecast (2023-2028)
    8.4    Global Artificial Intelligence Market by Solution
        8.4.1    Hardware
            8.4.1.1    Market Share
            8.4.1.2    Historical Trend (2018-2022)
            8.4.1.3    Forecast Trend (2023-2028)
        8.4.2    Software
            8.4.2.1    Market Share
            8.4.2.2    Historical Trend (2018-2022)
            8.4.2.3    Forecast Trend (2023-2028)
        8.4.3    Services
            8.4.3.1    Market Share
            8.4.3.2    Historical Trend (2018-2022)
            8.4.3.3    Forecast Trend (2023-2028)
    8.5    Global Artificial Intelligence Market by Technology
        8.5.1    Machine Learning
            8.5.1.1    Market Share
            8.5.1.2    Historical Trend (2018-2022)
            8.5.1.3    Forecast Trend (2023-2028)
        8.5.2    Natural Language Processing (NLP)
            8.5.2.1    Market Share
            8.5.2.2    Historical Trend (2018-2022)
            8.5.2.3    Forecast Trend (2023-2028)
        8.5.3    Context-Aware Computing
            8.5.3.1    Market Share
            8.5.3.2    Historical Trend (2018-2022)
            8.5.3.3    Forecast Trend (2023-2028)
        8.5.4    Computer Vision
            8.5.4.1    Market Share
            8.5.4.2    Historical Trend (2018-2022)
            8.5.4.3    Forecast Trend (2023-2028)
        8.5.5    Robotics
            8.5.5.1    Market Share
            8.5.5.2    Historical Trend (2018-2022)
            8.5.5.3    Forecast Trend (2023-2028)
    8.6    Global Artificial Intelligence Market by Type
        8.6.1    Narrow/Weak AI
            8.6.1.1    Market Share
            8.6.1.2    Historical Trend (2018-2022)
            8.6.1.3    Forecast Trend (2023-2028)
        8.6.2    General/Strong AI
            8.6.2.1    Market Share
            8.6.2.2    Historical Trend (2018-2022)
            8.6.2.3    Forecast Trend (2023-2028)
    8.7    Global Artificial Intelligence Market by End Use 
        8.7.1    Healthcare
            8.7.1.1    Market Share
            8.7.1.2    Historical Trend (2018-2022)
            8.7.1.3    Forecast Trend (2023-2028)
        8.7.2    BFSI
            8.7.2.1    Market Share
            8.7.2.2    Historical Trend (2018-2022)
            8.7.2.3    Forecast Trend (2023-2028)
        8.7.3    Automotive and Transportation
            8.7.3.1    Market Share
            8.7.3.2    Historical Trend (2018-2022)
            8.7.3.3    Forecast Trend (2023-2028)
        8.7.4    Security
            8.7.4.1    Market Share
            8.7.4.2    Historical Trend (2018-2022)
            8.7.4.3    Forecast Trend (2023-2028)
        8.7.5    Aerospace
            8.7.5.1    Market Share
            8.7.5.2    Historical Trend (2018-2022)
            8.7.5.3    Forecast Trend (2023-2028)
        8.7.6    Defence
            8.7.6.1    Market Share
            8.7.6.2    Historical Trend (2018-2022)
            8.7.6.3    Forecast Trend (2023-2028)
        8.7.7    Agriculture
            8.7.7.1    Market Share
            8.7.7.2    Historical Trend (2018-2022)
            8.7.7.3    Forecast Trend (2023-2028)
        8.7.8    Retail
            8.7.8.1    Market Share
            8.7.8.2    Historical Trend (2018-2022)
            8.7.8.3    Forecast Trend (2023-2028)
        8.7.9    Financial
            8.7.9.1    Market Share
            8.7.9.2    Historical Trend (2018-2022)
            8.7.9.3    Forecast Trend (2023-2028)
        8.7.10    Manufacturing
            8.7.10.1    Market Share
            8.7.10.2    Historical Trend (2018-2022)
            8.7.10.3    Forecast Trend (2023-2028)
        8.7.11    Advertisement and Marketing
            8.7.11.1    Market Share
            8.7.11.2    Historical Trend (2018-2022)
            8.7.11.3    Forecast Trend (2023-2028)
        8.7.12    Others 
    8.8    Global Artificial Intelligence Market by Region
        8.8.1    North America
            8.8.1.1    Market Share
            8.8.1.2    Historical Trend (2018-2022)
            8.8.1.3    Forecast Trend (2023-2028)
        8.8.2    Europe
            8.8.2.1    Market Share
            8.8.2.2    Historical Trend (2018-2022)
            8.8.2.3    Forecast Trend (2023-2028)
        8.8.3    Asia Pacific
            8.8.3.1    Market Share
            8.8.3.2    Historical Trend (2018-2022)
            8.8.3.3    Forecast Trend (2023-2028)
        8.8.4    Latin America
            8.8.4.1    Market Share
            8.8.4.2    Historical Trend (2018-2022)
            8.8.4.3    Forecast Trend (2023-2028)
        8.8.5    Middle East and Africa
            8.8.5.1    Market Share
            8.8.5.2    Historical Trend (2018-2022)
            8.8.5.3    Forecast Trend (2023-2028)
9    North America Artificial Intelligence Market Analysis
    9.1    United States of America
        9.1.1    Market Share
        9.1.2    Historical Trend (2018-2022)
        9.1.3    Forecast Trend (2023-2028)
    9.2    Canada
        9.2.1    Market Share
        9.2.2    Historical Trend (2018-2022)
        9.2.3    Forecast Trend (2023-2028)
10    Europe Artificial Intelligence Market Analysis
    10.1    United Kingdom
        10.1.1    Market Share
        10.1.2    Historical Trend (2018-2022)
        10.1.3    Forecast Trend (2023-2028)
    10.2    Germany
        10.2.1    Market Share
        10.2.2    Historical Trend (2018-2022)
        10.2.3    Forecast Trend (2023-2028)
    10.3    France
        10.3.1    Market Share
        10.3.2    Historical Trend (2018-2022)
        10.3.3    Forecast Trend (2023-2028)
    10.4    Italy
        10.4.1    Market Share
        10.4.2    Historical Trend (2018-2022)
        10.4.3    Forecast Trend (2023-2028)
    10.5    Others
11    Asia Pacific Artificial Intelligence Market Analysis
    11.1    China
        11.1.1    Market Share
        11.1.2    Historical Trend (2018-2022)
        11.1.3    Forecast Trend (2023-2028)
    11.2    Japan
        11.2.1    Market Share
        11.2.2    Historical Trend (2018-2022)
        11.2.3    Forecast Trend (2023-2028)
    11.3    India
        11.3.1    Market Share
        11.3.2    Historical Trend (2018-2022)
        11.3.3    Forecast Trend (2023-2028)
    11.4    ASEAN
        11.4.1    Market Share
        11.4.2    Historical Trend (2018-2022)
        11.4.3    Forecast Trend (2023-2028)
    11.5    Australia
        11.5.1    Market Share
        11.5.2    Historical Trend (2018-2022)
        11.5.3    Forecast Trend (2023-2028)
    11.6    Others
12    Latin America  Artificial Intelligence Market Analysis
    12.1    Brazil
        12.1.1    Market Share
        12.1.2    Historical Trend (2018-2022)
        12.1.3    Forecast Trend (2023-2028)
    12.2    Argentina
        12.2.1    Market Share
        12.2.2    Historical Trend (2018-2022)
        12.2.3    Forecast Trend (2023-2028)
    12.3    Mexico
        12.3.1    Market Share
        12.3.2    Historical Trend (2018-2022)
        12.3.3    Forecast Trend (2023-2028)
    12.4    Others
13    Middle East and Africa Artificial Intelligence Market Analysis
    13.1    Saudi Arabia
        13.1.1    Market Share
        13.1.2    Historical Trend (2018-2022)
        13.1.3    Forecast Trend (2023-2028)
    13.2    United Arab Emirates
        13.2.1    Market Share
        13.2.2    Historical Trend (2018-2022)
        13.2.3    Forecast Trend (2023-2028)
    13.3    Nigeria
        13.3.1    Market Share
        13.3.2    Historical Trend (2018-2022)
        13.3.3    Forecast Trend (2023-2028)
    13.4    South Africa
        13.4.1    Market Share
        13.4.2    Historical Trend (2018-2022)
        13.4.3    Forecast Trend (2023-2028)
    13.5    Others
14    Market Dynamics
    14.1    SWOT Analysis
        14.1.1    Strengths
        14.1.2    Weaknesses
        14.1.3    Opportunities
        14.1.4    Threats
    14.2    Porter’s Five Forces Analysis
        14.2.1    Supplier’s Power
        14.2.2    Buyer’s Power
        14.2.3    Threat of New Entrants
        14.2.4    Degree of Rivalry
        14.2.5    Threat of Substitutes
    14.3    Key Indicators for Demand
    14.4    Key Indicators for Price
15    Value Chain Analysis
16    Competitive Landscape
    16.1    Market Structure
    16.2    Company Profiles
        16.2.1    Google LLC
            16.2.1.1    Company Overview
            16.2.1.2    Product Portfolio
            16.2.1.3    Demographic Reach and Achievements
            16.2.1.4    Certifications
        16.2.2    Microsoft Corporation
            16.2.2.1    Company Overview
            16.2.2.2    Product Portfolio
            16.2.2.3    Demographic Reach and Achievements
            16.2.2.4    Certifications
        16.2.3    IBM Corporation
            16.2.3.1    Company Overview
            16.2.3.2    Product Portfolio
            16.2.3.3    Demographic Reach and Achievements
            16.2.3.4    Certifications
        16.2.4    Intel Corporation
            16.2.4.1    Company Overview
            16.2.4.2    Product Portfolio
            16.2.4.3    Demographic Reach and Achievements
            16.2.4.4    Certifications
        16.2.5    Cisco Systems, Inc.
            16.2.5.1    Company Overview
            16.2.5.2    Product Portfolio
            16.2.5.3    Demographic Reach and Achievements
            16.2.5.4    Certifications
        16.2.6    Apple Inc.
            16.2.6.1    Company Overview
            16.2.6.2    Product Portfolio
            16.2.6.3    Demographic Reach and Achievements
            16.2.6.4    Certifications
        16.2.7    NVIDIA Corporation
            16.2.7.1    Company Overview
            16.2.7.2    Product Portfolio
            16.2.7.3    Demographic Reach and Achievements
            16.2.7.4    Certifications
        16.2.8    Others
17    Key Trends and Developments in the Market


List of Key Figures and Tables

1.    Global Artificial Intelligence Market: Key Industry Highlights, 2018 and 2028
2.    Global Artificial Intelligence Historical Market: Breakup by Solution (USD Trillion), 2018-2022
3.    Global Artificial Intelligence Market Forecast: Breakup by Solution (USD Trillion), 2023-2028
4.    Global Artificial Intelligence Historical Market: Breakup by Technology (USD Trillion), 2018-2022
5.    Global Artificial Intelligence Market Forecast: Breakup by Technology (USD Trillion), 2023-2028
6.    Global Artificial Intelligence Historical Market: Breakup by Type (USD Trillion), 2018-2022
7.    Global Artificial Intelligence Market Forecast: Breakup by Type (USD Trillion), 2023-2028
8.    Global Artificial Intelligence Historical Market: Breakup by End Use (USD Trillion), 2018-2022
9.    Global Artificial Intelligence Market Forecast: Breakup by End Use (USD Trillion), 2023-2028
10.    Global Artificial Intelligence Historical Market: Breakup by Region (USD Trillion), 2018-2022
11.    Global Artificial Intelligence Market Forecast: Breakup by Region (USD Trillion), 2023-2028
12.    North America Artificial Intelligence Historical Market: Breakup by Country (USD Trillion), 2018-2022
13.    North America Artificial Intelligence Market Forecast: Breakup by Country (USD Trillion), 2023-2028
14.    Europe Artificial Intelligence Historical Market: Breakup by Country (USD Trillion), 2018-2022
15.    Europe Artificial Intelligence Market Forecast: Breakup by Country (USD Trillion), 2023-2028
16.    Asia Pacific Artificial Intelligence Historical Market: Breakup by Country (USD Trillion), 2018-2022
17.    Asia Pacific Artificial Intelligence Market Forecast: Breakup by Country (USD Trillion), 2023-2028
18.    Latin America Artificial Intelligence Historical Market: Breakup by Country (USD Trillion), 2018-2022
19.    Latin America Artificial Intelligence Market Forecast: Breakup by Country (USD Trillion), 2023-2028
20.    Middle East and Africa Artificial Intelligence Historical Market: Breakup by Country (USD Trillion), 2018-2022
21.    Middle East and Africa Artificial Intelligence Market Forecast: Breakup by Country (USD Trillion), 2023-2028
22.    Global Artificial Intelligence Market Structure

Key Questions Answered in the Report

What was the global market size in 2020?

The global artificial intelligence market reached a value of USD 1.2 trillion in 2020.

What is the growth rate of the market?

The global artificial intelligence (AI) market is projected to grow at a CAGR of nearly 23% in the forecast period of 2023-2028.

What is the forecast outlook of the market for 2023-2028?

The market is estimated to reach a value of about USD 6 trillion by 2026.

What are the major market drivers?

The major drivers of the industry include rising disposable incomes, increasing demand driven by the favourable features of the technology, and the growing integration of AI into the daily functioning of various industries.

What are the key industry trends of the market?

The rise in cloud-based AI services is expected to be a key trend guiding the growth of the industry.

What are the major regional markets, according to the EMR report?

North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa are the leading regions in the market, with North America accounting for the largest market share.

What are the leading solutions available in the industry?

The leading solutions in the industry are hardware, software, and services.

What are the major technology types in the industry?

The major technologies in the industry are machine learning, natural language processing (NLP), context-aware computing, computer vision, and robotics.

What are the significant types of the technology in the industry?

The significant types of the technology in the industry are narrow/week AI and general/strong AI.

What are the leading end-use sectors in the industry?

The leading end-use sectors in the market are healthcare, BFSI, automotive and transportation, security, aerospace, defence, agriculture, retail, financial, manufacturing, and advertisement and marketing, among others.

Who are the key industry players, according to the report?

The leading players in the market are Google LLC, Microsoft Corporation, IBM Corporation, Intel Corporation, Cisco Systems, Inc., Apple Inc., and NVIDIA Corporation, among others.

Analyst Review

The global artificial intelligence market attained a value of USD 1.2 trillion in 2020, driven by the growth in the demand for cloud-based AI services. Aided by the favourable features presented by the technology, the industry is expected to witness a further growth in the forecast period of 2023-2028, growing at a CAGR of 23%. The industry is projected to reach USD 6 trillion by 2026.

EMR’s meticulous research methodology delves deep into the industry, covering the macro and micro aspects of the industry. Based on its solutions, the industry can be segmented into hardware, software, and services. By technology, the industry can be divided into machine learning, natural language processing (NLP), context-aware computing, computer vision, and robotics. By types, the industry can be divided into narrow/weak AI and general/strong AI. On the basis of end uses, the global artificial intelligence market can be divided into healthcare, BFSI, automotive and transportation, security, aerospace, defence, agriculture, retail, financial, manufacturing, and advertisement and marketing, among others. The major regional markets for artificial intelligence are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa, with North America accounting for the largest share of the market. The key players in the above industry include Google LLC, Microsoft Corporation, IBM Corporation, Intel Corporation, Cisco Systems, Inc., Apple Inc., and NVIDIA Corporation, among others.

EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.

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