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

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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 (2016-2026); 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 2021-2026 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 2021-2026, 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: Industry Definition and 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/week 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 industry based on the Porter's five forces model along with giving a SWOT analysis.

*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual 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    Industry Opportunities and Challenges
8    Global Artificial Intelligence Market Analysis
    8.1    Key Industry Highlights
    8.2    Global Artificial Intelligence Historical Market (2016-2020) 
    8.3    Global Artificial Intelligence Market Forecast (2021-2026)
    8.4    Global Artificial Intelligence Market by Solution
        8.4.1    Hardware
            8.4.1.1    Market Share
            8.4.1.2    Historical Trend (2016-2020)
            8.4.1.3    Forecast Trend (2021-2026)
        8.4.2    Software
            8.4.2.1    Market Share
            8.4.2.2    Historical Trend (2016-2020)
            8.4.2.3    Forecast Trend (2021-2026)
        8.4.3    Services
            8.4.3.1    Market Share
            8.4.3.2    Historical Trend (2016-2020)
            8.4.3.3    Forecast Trend (2021-2026)
    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 (2016-2020)
            8.5.1.3    Forecast Trend (2021-2026)
        8.5.2    Natural Language Processing (NLP)
            8.5.2.1    Market Share
            8.5.2.2    Historical Trend (2016-2020)
            8.5.2.3    Forecast Trend (2021-2026)
        8.5.3    Context-Aware Computing
            8.5.3.1    Market Share
            8.5.3.2    Historical Trend (2016-2020)
            8.5.3.3    Forecast Trend (2021-2026)
        8.5.4    Computer Vision
            8.5.4.1    Market Share
            8.5.4.2    Historical Trend (2016-2020)
            8.5.4.3    Forecast Trend (2021-2026)
        8.5.5    Robotics
            8.5.5.1    Market Share
            8.5.5.2    Historical Trend (2016-2020)
            8.5.5.3    Forecast Trend (2021-2026)
    8.6    Global Artificial Intelligence Market by Type
        8.6.1    Narrow/Week AI
            8.6.1.1    Market Share
            8.6.1.2    Historical Trend (2016-2020)
            8.6.1.3    Forecast Trend (2021-2026)
        8.6.2    General/Strong AI
            8.6.2.1    Market Share
            8.6.2.2    Historical Trend (2016-2020)
            8.6.2.3    Forecast Trend (2021-2026)
    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 (2016-2020)
            8.7.1.3    Forecast Trend (2021-2026)
        8.7.2    BFSI
            8.7.2.1    Market Share
            8.7.2.2    Historical Trend (2016-2020)
            8.7.2.3    Forecast Trend (2021-2026)
        8.7.3    Automotive and Transportation
            8.7.3.1    Market Share
            8.7.3.2    Historical Trend (2016-2020)
            8.7.3.3    Forecast Trend (2021-2026)
        8.7.4    Security
            8.7.4.1    Market Share
            8.7.4.2    Historical Trend (2016-2020)
            8.7.4.3    Forecast Trend (2021-2026)
        8.7.5    Aerospace
            8.7.5.1    Market Share
            8.7.5.2    Historical Trend (2016-2020)
            8.7.5.3    Forecast Trend (2021-2026)
        8.7.6    Defence
            8.7.6.1    Market Share
            8.7.6.2    Historical Trend (2016-2020)
            8.7.6.3    Forecast Trend (2021-2026)
        8.7.7    Agriculture
            8.7.7.1    Market Share
            8.7.7.2    Historical Trend (2016-2020)
            8.7.7.3    Forecast Trend (2021-2026)
        8.7.8    Retail
            8.7.8.1    Market Share
            8.7.8.2    Historical Trend (2016-2020)
            8.7.8.3    Forecast Trend (2021-2026)
        8.7.9    Financial
            8.7.9.1    Market Share
            8.7.9.2    Historical Trend (2016-2020)
            8.7.9.3    Forecast Trend (2021-2026)
        8.7.10    Manufacturing
            8.7.10.1    Market Share
            8.7.10.2    Historical Trend (2016-2020)
            8.7.10.3    Forecast Trend (2021-2026)
        8.7.11    Advertisement and Marketing
            8.7.11.1    Market Share
            8.7.11.2    Historical Trend (2016-2020)
            8.7.11.3    Forecast Trend (2021-2026)
        8.7.12    Others
    8.8    Global Artificial Intelligence Market by Region
        8.8.1    Market Share
            8.8.1.1    North America
            8.8.1.2    Europe
            8.8.1.3    Asia Pacific
            8.8.1.4    Latin America
            8.8.1.5    Middle East and Africa
9    Regional Analysis
    9.1    North America
        9.1.1    Historical Trend (2016-2020)
        9.1.2    Forecast Trend (2021-2026)
        9.1.3    Breakup by Country
            9.1.3.1    United States of America 
            9.1.3.2    Canada
    9.2    Europe
        9.2.1    Historical Trend (2016-2020)
        9.2.2    Forecast Trend (2021-2026)
        9.2.3    Breakup by Country
            9.2.3.1    United Kingdom
            9.2.3.2    Germany
            9.2.3.3    France
            9.2.3.4    Italy
            9.2.3.5    Others
    9.3    Asia Pacific
        9.3.1    Historical Trend (2016-2020)
        9.3.2    Forecast Trend (2021-2026)
        9.3.3    Breakup by Country
            9.3.3.1    China
            9.3.3.2    Japan
            9.3.3.3    India
            9.3.3.4    ASEAN
            9.3.3.5    Australia
            9.3.3.6    Others
    9.4    Latin America
        9.4.1    Historical Trend (2016-2020)
        9.4.2    Forecast Trend (2021-2026)
        9.4.3    Breakup by Country
            9.4.3.1    Brazil
            9.4.3.2    Argentina
            9.4.3.3    Mexico
            9.4.3.4    Others
    9.5    Middle East and Africa
        9.5.1    Historical Trend (2016-2020)
        9.5.2    Forecast Trend (2021-2026)
        9.5.3    Breakup by Country
            9.5.3.1    Saudi Arabia
            9.5.3.2    United Arab Emirates
            9.5.3.3    Nigeria
            9.5.3.4    South Africa
            9.5.3.5    Others
10    Market Dynamics
    10.1    SWOT Analysis
        10.1.1    Strengths
        10.1.2    Weaknesses
        10.1.3    Opportunities
        10.1.4    Threats
    10.2    Porter’s Five Forces Analysis
        10.2.1    Supplier’s Power
        10.2.2    Buyer’s Power
        10.2.3    Threat of New Entrants
        10.2.4    Degree of Rivalry
        10.2.5    Threat of Substitutes
    10.3    EMR’s Key Indicators for Demand
    10.4    EMR’s Key Indicators for Price
11    Value Chain Analysis
12    Competitive Landscape
    12.1    Market Structure
    12.2    Key Players
    12.3    Company Profiles
        12.3.1    Google LLC
            12.3.1.1    Company Overview
            12.3.1.2    Product Portfolio
            12.3.1.3    Demographic Reach and Achievements
            12.3.1.4    Certifications
        12.3.2    Microsoft Corporation
            12.3.2.1    Company Overview
            12.3.2.2    Product Portfolio
            12.3.2.3    Demographic Reach and Achievements
            12.3.2.4    Certifications
        12.3.3    IBM Corporation
            12.3.3.1    Company Overview
            12.3.3.2    Product Portfolio
            12.3.3.3    Demographic Reach and Achievements
            12.3.3.4    Certifications
        12.3.4    Intel Corporation
            12.3.4.1    Company Overview
            12.3.4.2    Product Portfolio
            12.3.4.3    Demographic Reach and Achievements
            12.3.4.4    Certifications
        12.3.5    Cisco Systems, Inc.
            12.3.5.1    Company Overview
            12.3.5.2    Product Portfolio
            12.3.5.3    Demographic Reach and Achievements
            12.3.5.4    Certifications
        12.3.6    Apple Inc.
            12.3.6.1    Company Overview
            12.3.6.2    Product Portfolio
            12.3.6.3    Demographic Reach and Achievements
            12.3.6.4    Certifications 
        12.3.7    NVIDIA Corporation
            12.3.7.1    Company Overview
            12.3.7.2    Product Portfolio
            12.3.7.3    Demographic Reach and Achievements
            12.3.7.4    Certifications 
        12.3.8    Others
13    Industry Events and Developments


List of Figures and Tables

1.    Global Artificial Intelligence Market: Key Industry Highlights, 2016 and 2026
2.    Global Artificial Intelligence Historical Market: Breakup by Solution (USD Trillion), 2016-2020
3.    Global Artificial Intelligence Market Forecast: Breakup by Solution (USD Trillion), 2021-2026
4.    Global Artificial Intelligence Historical Market: Breakup by Technology (USD Trillion), 2016-2020
5.    Global Artificial Intelligence Market Forecast: Breakup by Technology (USD Trillion), 2021-2026
6.    Global Artificial Intelligence Historical Market: Breakup by Type (USD Trillion), 2016-2020
7.    Global Artificial Intelligence Market Forecast: Breakup by Type (USD Trillion), 2021-2026
8.    Global Artificial Intelligence Historical Market: Breakup by End Use (USD Trillion), 2016-2020
9.    Global Artificial Intelligence Market Forecast: Breakup by End Use (USD Trillion), 2021-2026
10.    Global Artificial Intelligence Historical Market: Breakup by Region (USD Trillion), 2016-2020
11.    Global Artificial Intelligence Market Forecast: Breakup by Region (USD Trillion), 2021-2026
12.    North America Artificial Intelligence Historical Market: Breakup by Country (USD Trillion), 2016-2020
13.    North America Artificial Intelligence Market Forecast: Breakup by Country (USD Trillion), 2021-2026
14.    Europe Artificial Intelligence Historical Market: Breakup by Country (USD Trillion), 2016-2020
15.    Europe Artificial Intelligence Market Forecast: Breakup by Country (USD Trillion), 2021-2026
16.    Asia Pacific Artificial Intelligence Historical Market: Breakup by Country (USD Trillion), 2016-2020
17.    Asia Pacific Artificial Intelligence Market Forecast: Breakup by Country (USD Trillion), 2021-2026
18.    Latin America Artificial Intelligence Historical Market: Breakup by Country (USD Trillion), 2016-2020
19.    Latin America Artificial Intelligence Market Forecast: Breakup by Country (USD Trillion), 2021-2026
20.    Middle East and Africa Artificial Intelligence Historical Market: Breakup by Country (USD Trillion), 2016-2020
21.    Middle East and Africa Artificial Intelligence Market Forecast: Breakup by Country (USD Trillion), 2021-2026
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 2021-2026.

What is the forecast outlook of the market for 2021-2026?

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 2021-2026, 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/week 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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