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Artificial Intelligence Market

Global Artificial Intelligence Market Size, Share, Growth: By Solution: Hardware, Software, Services; By Technology: Machine Learning, Natural Language Processing, Context-Aware Computing, Computer Vision, Robotics; By Type: Narrow/Weak AI, General/Strong AI; By End Use; Regional Analysis; Competitive Landscape; 2024-2032

Global Artificial Intelligence Market Outlook

The global artificial intelligence market reached a value of around USD 2.41 trillion in 2023. The market is further expected to grow at a CAGR of about 32.4% in the forecast period of 2024-2032 to reach a value of about USD 30.13 trillion by 2032.

 

Artificial Intelligence Market

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

In the forecast period of 2024-2032, 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.

 

Key Highlights of the Report

REPORT FEATURES DETAILS
Base Year 2023
Historical Period 2018-2023
Forecast Period 2024-2032
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 (NLP)
  • 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
    • United States of America 
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Australia
    • Others
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • United Arab Emirates
    • Nigeria
    • South Africa
    • Others
Market Dynamics
  • SWOT Analysis
  • Porter's Five Forces Analysis
  • Key Indicators for Demand
  • Key Indicators for Price
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 (2018-2023) 
    8.3    Global Artificial Intelligence Market Forecast (2024-2032)
    8.4    Global Artificial Intelligence Market by Solution
        8.4.1    Hardware
            8.4.1.1    Historical Trend (2018-2023)
            8.4.1.2    Forecast Trend (2024-2032)
        8.4.2    Software
            8.4.2.1    Historical Trend (2018-2023)
            8.4.2.2    Forecast Trend (2024-2032)
        8.4.3    Services
            8.4.3.1    Historical Trend (2018-2023)
            8.4.3.2    Forecast Trend (2024-2032)
    8.5    Global Artificial Intelligence Market by Technology
        8.5.1    Machine Learning
            8.5.1.1    Historical Trend (2018-2023)
            8.5.1.2    Forecast Trend (2024-2032)
        8.5.2    Natural Language Processing (NLP)
            8.5.2.1    Historical Trend (2018-2023)
            8.5.2.2    Forecast Trend (2024-2032)
        8.5.3    Context-Aware Computing
            8.5.3.1    Historical Trend (2018-2023)
            8.5.3.2    Forecast Trend (2024-2032)
        8.5.4    Computer Vision
            8.5.4.1    Historical Trend (2018-2023)
            8.5.4.2    Forecast Trend (2024-2032)
        8.5.5    Robotics
            8.5.5.1    Historical Trend (2018-2023)
            8.5.5.2    Forecast Trend (2024-2032)
    8.6    Global Artificial Intelligence Market by Type
        8.6.1    Narrow/Weak AI
            8.6.1.1    Historical Trend (2018-2023)
            8.6.1.2    Forecast Trend (2024-2032)
        8.6.2    General/Strong AI
            8.6.2.1    Historical Trend (2018-2023)
            8.6.2.2    Forecast Trend (2024-2032)
    8.7    Global Artificial Intelligence Market by End Use 
        8.7.1    Healthcare
            8.7.1.1    Historical Trend (2018-2023)
            8.7.1.2    Forecast Trend (2024-2032)
        8.7.2    BFSI
            8.7.2.1    Historical Trend (2018-2023)
            8.7.2.2    Forecast Trend (2024-2032)
        8.7.3    Automotive and Transportation
            8.7.3.1    Historical Trend (2018-2023)
            8.7.3.2    Forecast Trend (2024-2032)
        8.7.4    Security
            8.7.4.1    Historical Trend (2018-2023)
            8.7.4.2    Forecast Trend (2024-2032)
        8.7.5    Aerospace
            8.7.5.1    Historical Trend (2018-2023)
            8.7.5.2    Forecast Trend (2024-2032)
        8.7.6    Defence
            8.7.6.1    Historical Trend (2018-2023)
            8.7.6.2    Forecast Trend (2024-2032)
        8.7.7    Agriculture
            8.7.7.1    Historical Trend (2018-2023)
            8.7.7.2    Forecast Trend (2024-2032)
        8.7.8    Retail
            8.7.8.1    Historical Trend (2018-2023)
            8.7.8.2    Forecast Trend (2024-2032)
        8.7.9    Financial
            8.7.9.1    Historical Trend (2018-2023)
            8.7.9.2    Forecast Trend (2024-2032)
        8.7.10    Manufacturing
            8.7.10.1    Historical Trend (2018-2023)
            8.7.10.2    Forecast Trend (2024-2032)
        8.7.11    Advertisement and Marketing
            8.7.11.1    Historical Trend (2018-2023)
            8.7.11.2    Forecast Trend (2024-2032)
        8.7.12    Others 
    8.8    Global Artificial Intelligence Market by Region
        8.8.1    North America
            8.8.1.1    Historical Trend (2018-2023)
            8.8.1.2    Forecast Trend (2024-2032)
        8.8.2    Europe
            8.8.2.1    Historical Trend (2018-2023)
            8.8.2.2    Forecast Trend (2024-2032)
        8.8.3    Asia Pacific
            8.8.3.1    Historical Trend (2018-2023)
            8.8.3.2    Forecast Trend (2024-2032)
        8.8.4    Latin America
            8.8.4.1    Historical Trend (2018-2023)
            8.8.4.2    Forecast Trend (2024-2032)
        8.8.5    Middle East and Africa
            8.8.5.1    Historical Trend (2018-2023)
            8.8.5.2    Forecast Trend (2024-2032)
9    North America Artificial Intelligence Market Analysis
    9.1    United States of America
        9.1.1    Historical Trend (2018-2023)
        9.1.2    Forecast Trend (2024-2032)
    9.2    Canada
        9.2.1    Historical Trend (2018-2023)
        9.2.2    Forecast Trend (2024-2032)
10    Europe Artificial Intelligence Market Analysis
    10.1    United Kingdom
        10.1.1    Historical Trend (2018-2023)
        10.1.2    Forecast Trend (2024-2032)
    10.2    Germany
        10.2.1    Historical Trend (2018-2023)
        10.2.2    Forecast Trend (2024-2032)
    10.3    France
        10.3.1    Historical Trend (2018-2023)
        10.3.2    Forecast Trend (2024-2032)
    10.4    Italy
        10.4.1    Historical Trend (2018-2023)
        10.4.2    Forecast Trend (2024-2032)
    10.5    Others
11    Asia Pacific Artificial Intelligence Market Analysis
    11.1    China
        11.1.1    Historical Trend (2018-2023)
        11.1.2    Forecast Trend (2024-2032)
    11.2    Japan
        11.2.1    Historical Trend (2018-2023)
        11.2.2    Forecast Trend (2024-2032)
    11.3    India
        11.3.1    Historical Trend (2018-2023)
        11.3.2    Forecast Trend (2024-2032)
    11.4    ASEAN
        11.4.1    Historical Trend (2018-2023)
        11.4.2    Forecast Trend (2024-2032)
    11.5    Australia
        11.5.1    Historical Trend (2018-2023)
        11.5.2    Forecast Trend (2024-2032)
    11.6    Others
12    Latin America  Artificial Intelligence Market Analysis
    12.1    Brazil
        12.1.1    Historical Trend (2018-2023)
        12.1.2    Forecast Trend (2024-2032)
    12.2    Argentina
        12.2.1    Historical Trend (2018-2023)
        12.2.2    Forecast Trend (2024-2032)
    12.3    Mexico
        12.3.1    Historical Trend (2018-2023)
        12.3.2    Forecast Trend (2024-2032)
    12.4    Others
13    Middle East and Africa Artificial Intelligence Market Analysis
    13.1    Saudi Arabia
        13.1.1    Historical Trend (2018-2023)
        13.1.2    Forecast Trend (2024-2032)
    13.2    United Arab Emirates
        13.2.1    Historical Trend (2018-2023)
        13.2.2    Forecast Trend (2024-2032)
    13.3    Nigeria
        13.3.1    Historical Trend (2018-2023)
        13.3.2    Forecast Trend (2024-2032)
    13.4    South Africa
        13.4.1    Historical Trend (2018-2023)
        13.4.2    Forecast Trend (2024-2032)
    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 2032
2.    Global Artificial Intelligence Historical Market: Breakup by Solution (USD Trillion), 2018-2023
3.    Global Artificial Intelligence Market Forecast: Breakup by Solution (USD Trillion), 2024-2032
4.    Global Artificial Intelligence Historical Market: Breakup by Technology (USD Trillion), 2018-2023
5.    Global Artificial Intelligence Market Forecast: Breakup by Technology (USD Trillion), 2024-2032
6.    Global Artificial Intelligence Historical Market: Breakup by Type (USD Trillion), 2018-2023
7.    Global Artificial Intelligence Market Forecast: Breakup by Type (USD Trillion), 2024-2032
8.    Global Artificial Intelligence Historical Market: Breakup by End Use (USD Trillion), 2018-2023
9.    Global Artificial Intelligence Market Forecast: Breakup by End Use (USD Trillion), 2024-2032
10.    Global Artificial Intelligence Historical Market: Breakup by Region (USD Trillion), 2018-2023
11.    Global Artificial Intelligence Market Forecast: Breakup by Region (USD Trillion), 2024-2032
12.    North America Artificial Intelligence Historical Market: Breakup by Country (USD Trillion), 2018-2023
13.    North America Artificial Intelligence Market Forecast: Breakup by Country (USD Trillion), 2024-2032
14.    Europe Artificial Intelligence Historical Market: Breakup by Country (USD Trillion), 2018-2023
15.    Europe Artificial Intelligence Market Forecast: Breakup by Country (USD Trillion), 2024-2032
16.    Asia Pacific Artificial Intelligence Historical Market: Breakup by Country (USD Trillion), 2018-2023
17.    Asia Pacific Artificial Intelligence Market Forecast: Breakup by Country (USD Trillion), 2024-2032
18.    Latin America Artificial Intelligence Historical Market: Breakup by Country (USD Trillion), 2018-2023
19.    Latin America Artificial Intelligence Market Forecast: Breakup by Country (USD Trillion), 2024-2032
20.    Middle East and Africa Artificial Intelligence Historical Market: Breakup by Country (USD Trillion), 2018-2023
21.    Middle East and Africa Artificial Intelligence Market Forecast: Breakup by Country (USD Trillion), 2024-2032
22.    Global Artificial Intelligence Market Structure

Key Questions Answered in the Report

The global artificial intelligence market reached a value of USD 2.41 trillion in 2023.

The global artificial intelligence (AI) market is projected to grow at a CAGR of nearly 32.4% in the forecast period of 2024-2032.

The market is estimated to reach a value of about USD 30.13 trillion by 2032.

The major drivers of the market include the surging investments in artificial intelligence by major technology companies and the rising use of artificial intelligence to produce human performance data across multiple parameters.

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

North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa are the major regions in the market.

The significant applications of artificial intelligence considered in the market report include hardware, software, and services.

The various technologies of artifiicla intelligence considered in the market report include machine learning, natural language processing (NLP), context-aware computing, computer vision, and robotics.

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

The different end uses of artificial intelligence are healthcare, BFSI, automotive and transportation, security, aerospace, defence, agriculture, retail, financial, manufacturing, and advertisement and marketing, among others.

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 2.41 trillion in 2023, 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 2024-2032, growing at a CAGR of 32.4%. The industry is projected to reach USD 30.13 trillion by 2032.

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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