Artificial Intelligence (AI) Market worth $1,339.1 billion by 2030- Exclusive Report by MarketsandMarkets™
CHICAGO, June 7, 2024 /PRNewswire/ -- The Artificial Intelligence Market is anticipated to experience substantial expansion, ascending from a value of USD 214.6 billion in 2024 to a substantial worth of USD 1,339.1 billion by the year 2030. This growth trajectory reflects a robust compound annual growth rate (CAGR) of 35.7% over the forecast period, according to a new report by MarketsandMarkets™. The surge in the Artificial Intelligence Market is poised to be driven by a confluence of influential factors within the business landscape. Notably, widespread adoption of self-governing AI systems, coupled with the emergence of AI and deep learning technologies changing the landscape, stands out as significant contributors to this trend. Additionally, the improvements in processing power and data accessibility are playing a crucial role in propelling the upward trajectory of this market.
Browse in-depth TOC on "Artificial Intelligence (AI) Market"
550 – Tables
80 - Figures
650 – Pages
Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=74851580
Scope of the Report
Report Metrics | Details |
Market size available for years | 2019–2030 |
Base year considered | 2023 |
Forecast period | 2024–2030 |
Forecast units | USD (Billion) |
Segments Covered | Offering, Technology, Business Function, Vertical, and Region |
Geographies covered | North America, Europe, Asia Pacific, Middle East & Africa, and Latin America |
Companies covered | IBM (US), NVIDIA (US), OpenAI (US), Oracle (US), Meta (US), Microsoft (US), Google (US), AWS (US), Intel (US), Salesforce (US), SAP (Germany), Cisco (US), HPE (US), Siemens (Germany), Baidu (China), SAS Institute (US), AMD (US), Qualcomm (US), Huawei (China), Alibaba Cloud (China), C3 AI (US), HQE Systems (US), Dialpad (US), Anduril Industries (US), Adept (US), DeepL (Germany), Moveworks (US), Arrow AI (US), Anthropic (US), Observe.ai (US), Anyscale (US), Frame AI (US), Uizard (Denmark), Shield AI (US), Cohere (Canada), Writesonic (US), Arthur (US), Capacity (US), Spot AI (US), Inbenta (US), Glean (US), Jasper (US), Atomwise (US), H2O.AI (US), Inflection AI (US), Persado (US), Appier (Taiwan), Graphcore (UK), AI21 Labs (Israel), Scale AI (US), IRIS Automation (US), Gamaya (Switzerland), Synthesia (England), Mostly AI (Austria), Mythic (US), Character.ai (US), ADA (Canada), Sentient.io (Singapore), Lumen5 (Canada), Aera Technology (US), Metropolis (US), Cerebras (US), Hailo (Israel), Soundful (US), and One AI (Israel). |
By business function, marketing & sales to register the largest market share during the forecast period.
Marketing & sales business function is projected to hold the largest market share in the Artificial Intelligence Market during the forecast period due to several compelling reasons. Firstly, AI-powered tools such as predictive analytics and recommendation engines significantly enhance customer targeting, lead generation, and personalized marketing campaigns, leading to improved conversion rates and sales performance. Secondly, the integration of AI into customer relationship management (CRM) systems enables businesses to automate repetitive tasks, streamline workflows, and provide more tailored customer experiences, driving customer satisfaction and loyalty. Additionally, AI-driven chatbots and virtual assistants are increasingly adopted by companies to offer round-the-clock customer support, further augmenting sales efforts. Furthermore, emerging trends such as AI-powered dynamic pricing, visual search, and voice commerce are reshaping the marketing and sales landscape, offering new avenues for growth and competitive advantage.
Request Sample Pages@ https://www.marketsandmarkets.com/requestsampleNew.asp?id=74851580
By vertical, healthcare & life sciences segment is poised for the fastest growth rate during the forecast period.
Healthcare & life sciences vertical in the Artificial Intelligence Market is poised for the fastest growth rate during the forecast period due to various significant factors. Advancements in AI algorithms and deep learning techniques have significantly enhanced diagnostic accuracy, personalized treatment plans, and drug discovery processes, leading to improved patient outcomes and reduced healthcare expenses. Additionally, the proliferation of electronic health records (EHRs) and wearable devices has generated vast amounts of patient data, providing fertile ground for AI-powered analytics to extract actionable insights and augment clinical decision-making capabilities. Furthermore, the accelerated adoption of telemedicine and remote patient monitoring solutions are driving the integration of AI technologies into healthcare delivery systems. Emerging trends like precision medicine, virtual assistants for healthcare professionals, and AI-driven genomics are also contributing to the rapid growth of AI in the healthcare and life sciences sector.
Inquire Before Buying@ https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=74851580
By region, North America accounts for the largest market during forecast period.
The region boasts a strong presence of leading tech giants and research institutions at the forefront of AI development. Additionally, North American industries have been early adopters of AI technologies, driving market growth. Government funding also plays a big role, as substantial resources are allocated towards AI research and development. This fosters a large pool of skilled AI professionals, further strengthening North America's position in the AI market.
Top Key Companies in Artificial Intelligence (AI) Market:
The major players in the Artificial Intelligence Market include Microsoft (US), IBM (US), Google (US), AWS (US), NVIDIA (US) along with startups such as Anthropic (US), Cerebras (US), OpenAI (US), Anduril Industries (US) and Cohere (Canada).
Browse Adjacent Markets: Artificial Intelligence (AI) Market Research Reports & Consulting
Related Reports:
AI Studio Market - Global Forecast to 2029
AI in Chemicals Market- Global Forecast to 2030
Generative AI Market - Global Forecast to 2030
AI in Cybersecurity Market- Global Forecast to 2028
Social Media Management Market- Global Forecast to 2027
Get access to the latest updates on Artificial Intelligence Companies and Artificial Intelligence Industry
About MarketsandMarkets™
MarketsandMarkets™ has been recognized as one of America's best management consulting firms by Forbes, as per their recent report.
MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.
Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: sales@marketsandmarkets.com
Visit Our Website: https://www.marketsandmarkets.com/
Logo: https://mma.prnewswire.com/media/1951202/4609423/MarketsandMarkets.jpg
Share this article