Artificial Intelligence Market

Artificial Intelligence Market Research Report: In-Depth Qualitative

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

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.

Artificial Intelligence (AI) has emerged as a transformative force across various industries. As businesses strive to stay competitive and meet the demands of a digital world, understanding the dynamics of the AI market has become imperative. This article delves into the intricacies of the AI market research, providing insights into its current state, driving factors, challenges, opportunities, and future outlook.

Current State of the AI Market

The AI market has witnessed exponential growth in recent years, fueled by advancements in machine learning, natural language processing, computer vision, and other AI technologies. According to market research reports, the global AI market is projected to continue its upward trajectory, with significant contributions from key players such as Google, Microsoft, IBM, and Amazon.

Impact of COVID-19 on the AI Market

The COVID-19 pandemic has both disrupted and accelerated trends in the AI market. While the initial outbreak led to temporary setbacks, the subsequent shift towards remote work and digitalization has accelerated the adoption of AI technologies, driving market growth and innovation.

Market Dynamics

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.

Leading Companies in Artificial Intelligence Market:

-Intel Corporation

-Microsoft

-IBM

-Google

-Amazon Web Services

-Baidu, Inc.

-NVIDIA Corporation

-H2O.ai.

-Sensely, Inc.

-Enlitic, Inc.

-AiCure

Segmentation of the Industry

The Artificial Intelligence Market is highly fragmented and bifurcates into the following segmentations:

By Offering

-Hardware

-Software

-Services

By 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.

By Deployment

-Cloud

-On-premises

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.)

Regional Landscape

On the geographical front, the Artificial Intelligence Market expands across the following:

By Region

-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.

About MarkNtel Advisors

MarkNtel Advisors is a leading consulting, data analytics, and market research firm that provides an extensive range of strategic reports on diverse industry verticals. We being a qualitative & quantitative research company, strive to deliver data to a substantial & varied client base, including multinational corporations, financial institutions, governments, and individuals, among others.

We have our existence across the market for many years and have conducted multi-industry research across 80+ countries, spreading our reach across numerous regions like America, Asia-Pacific, Europe, the Middle East & Africa, etc., and many countries across the regional scale, namely, the US, India, the Netherlands, Saudi Arabia, the UAE, Brazil, and several others.

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