- Hardware
- Software
- Services
Artificial Intelligence Market size was valued at USD 85,643.4 Million in 2022 and is expected to grow at a significant CAGR of 34.1% from 2023 to 2029. Digitization in the manufacturing industry, operation of a manufacturing plant, improving defect tracking and forecasting abilities are the drivers which boost the global artificial intelligence market. There are few restrain which hamper the market growth which include limited number of artificial intelligence expertise, Minor problems can occur in system failure or a certain system malfunctioning. AI-based algorithm and predictive analytics provide intense of opportunity towards market. It is noticed that the global artificial intelligence market has a significant market growth rate on the perspective of strongly coupled digitized system. AI is changing digital strategies with the ability to gather, evaluate, apply and then learn from information hence it will provide the opportunity to use it to enhance digital marketing campaigns and provide businesses with useful consumer insights. It is suggested that is necessary for future digital goods, especially in the field of digital marketing as 87% of internet users in the U.S. use more than one device when going online are boosting the artificial intelligence market growth.
Artificial Intelligence Market Key Developments:
- In January 2021, Google launched Product Discovery Solutions for retail industry.This suite would enhance the retailers eCommerce capabilities and help them provide enhance customer experience. Product Discovery Solutions for Retail brings together AI algorithms and search service, Cloud Search for Retail, which leverages Google Search technology to power retailers product-finding tools.
Artificial Intelligence Market Summary
Study Period
2024-2030
Base Year
2023
CAGR
34.1%
Largest Market
Asia Pacific
Fastest Growing Market
North America
Artificial Intelligence Market Dynamics
The rising demand for artificial intelligence technology across various induce verticals such as retail, BFSI, healthcare, food and beverages, automotive, and logistics is significantly contributing towards the growth of the global artificial intelligence market.
North-America Got Significant Share
Artificial Intelligence Market Regional Analysis
North America contributed major revenue followed by Europe and Asia Pacific. In 2022, North America region accounted huge growth rate and is anticipated to grow with a forecast year. Growing recognition among consumers of technology and technical advancements are the key factors boosting the market due to the growing need for high-computing hardware platforms to run various AI applications. Europe led with increasing adoption of computer vision in various industries, such as manufacturing and automotive, in autonomous or semi-autonomous applications. Asia Pacific held considerable market share during estimated period due to variety of technologies, such as machine learning and natural language processing.
Latin America
Europe
Asia Pacific
Middle East
North America
Key Features of the Reports
- The artificial intelligence market report provides granular level information about the market size, regional market share, historic market (2018-2022) and forecast (2023-2029)
- The artificial intelligence market report covers in-detail insights about the competitors overview, company share analysis, key market developments, and their key strategies
- The artificial intelligence market report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
- The artificial intelligence market report tracks recent innovations, key developments, and start-up details that are actively working in the market
- The artificial intelligence market report provides a plethora of information about market entry strategies, regulatory framework, and reimbursement scenario
Artificial Intelligence Market Segmentation
By Offering
By Technology
- Machine Learning
- Natural Language Processing
- Context-Aware Computing
- Computer Vision
By End User
- BFSI
- Retail and eCommerce
- Telecommunication and IT
- Healthcare and Life Sciences
- Automotive
- Government and Defense
- Manufacturing
Frequently Asked Questions
The artificial intelligence market is projected to expand at a CAGR of 34.1% during the forecast period.
The major players in the global artificial intelligence market are company Intel Corporation (US), Baidu Inc. (China), IBM Corporation (US), Edify ai (US), Microsoft Corporation (US), Alphabet Inc. (US), Samsung Electronics Co., Ltd. (South Korea), Amazon Web Services, Inc. (US), SAS Institute Inc. (US), Facebook, Inc. (US), SAP SE (Germany), Salesforce.com, Inc. (US), NVIDIA Corporation (US), Oracle (US), Cisco (US), Siemens (US)
North America is the fastest-growing region for artificial intelligence market
| 1. Executive Summary |
| 2. Global Artificial Intelligence Market Introduction |
| 2.1. Global Artificial Intelligence Market Taxonomy |
| 2.2. Global Artificial Intelligence Market Definitions |
| 2.2.1. By Offering |
| 2.2.2. By Technology |
| 2.2.3. By Deployment Mode |
| 2.2.4. By End User |
| 2.2.5. By Region |
| 3. Global Artificial Intelligence Market Dynamics |
| 3.1. Drivers |
| 3.2. Restraints |
| 3.3. Opportunities/Unmet Needs of the Market |
| 3.4. Trends |
| 3.5. Global Artificial Intelligence Market Dynamic Factors - Impact Analysis |
| 3.6. Global Artificial Intelligence Market Competition Landscape |
| 4. Global Artificial Intelligence Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 |
| 4.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) |
| 4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) |
| 4.3. Market Opportunity Analysis |
| 5. Global Artificial Intelligence Market, By Offering, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) |
| 5.1. Hardware |
| 5.1.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) |
| 5.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.1.3. Market Opportunity Analysis |
| 5.2. Software |
| 5.2.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) |
| 5.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.2.3. Market Opportunity Analysis |
| 5.3. Services |
| 5.3.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) |
| 5.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.3.3. Market Opportunity Analysis |
| 6. Global Artificial Intelligence Market, By Technology, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) |
| 6.1. Machine Learning |
| 6.1.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) |
| 6.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.1.3. Market Opportunity Analysis |
| 6.2. Natural Language Processing |
| 6.2.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) |
| 6.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.2.3. Market Opportunity Analysis |
| 6.3. Context-Aware Computing |
| 6.3.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) |
| 6.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.3.3. Market Opportunity Analysis |
| 6.4. Computer Vision |
| 6.4.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) |
| 6.4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.4.3. Market Opportunity Analysis |
| 7. Global Artificial Intelligence Market, By Deployment Mode, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) |
| 7.1. Cloud |
| 7.1.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) |
| 7.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.1.3. Market Opportunity Analysis |
| 7.2. On-premises |
| 7.2.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) |
| 7.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.2.3. Market Opportunity Analysis |
| 8. Global Artificial Intelligence Market, By End User, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) |
| 8.1. BFSI |
| 8.1.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) |
| 8.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.1.3. Market Opportunity Analysis |
| 8.2. Retail and eCommerce |
| 8.2.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) |
| 8.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.2.3. Market Opportunity Analysis |
| 8.3. Telecommunication and IT |
| 8.3.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) |
| 8.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.3.3. Market Opportunity Analysis |
| 8.4. Healthcare and Life Sciences |
| 8.4.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) |
| 8.4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.4.3. Market Opportunity Analysis |
| 8.5. Automotive |
| 8.5.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) |
| 8.5.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.5.3. Market Opportunity Analysis |
| 8.6. Government and Defense |
| 8.6.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) |
| 8.6.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.6.3. Market Opportunity Analysis |
| 8.7. Manufacturing |
| 8.7.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) |
| 8.7.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.7.3. Market Opportunity Analysis |
| 9. Global Artificial Intelligence Market Forecast, By Region, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) |
| 9.1. North America |
| 9.1.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) |
| 9.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 9.1.3. Market Opportunity Analysis |
| 9.2. Europe |
| 9.2.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) |
| 9.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 9.2.3. Market Opportunity Analysis |
| 9.3. Asia-Pacific |
| 9.3.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) |
| 9.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 9.3.3. Market Opportunity Analysis |
| 9.4. Latin America |
| 9.4.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) |
| 9.4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 9.4.3. Market Opportunity Analysis |
| 9.5. Middle East and Africa |
| 9.5.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) |
| 9.5.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 9.5.3. Market Opportunity Analysis |
| 9.6. Global Artificial Intelligence Market - Opportunity Analysis Index, By Offering, Technology, Artificial Intelligence, End User, and Region, 2023 - 2029 |
| 10. North America Artificial Intelligence Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) |
| 10.1. Offering Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 10.1.1. Hardware |
| 10.1.2. Software |
| 10.1.3. Services |
| 10.2. Technology Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 10.2.1. Machine Learning |
| 10.2.2. Natural Language Processing |
| 10.2.3. Context-Aware Computing |
| 10.2.4. Computer Vision |
| 10.3. Deployment Mode Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
| 10.3.1. Cloud |
| 10.3.2. On-premises |
| 10.4. End User Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
| 10.4.1. BFSI |
| 10.4.2. Retail and eCommerce |
| 10.4.3. Telecommunication and IT |
| 10.4.4. Healthcare and Life Sciences |
| 10.4.5. Automotive |
| 10.4.6. Government and Defense |
| 10.4.7. Manufacturing |
| 10.5. Country Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%) |
| 10.5.1. USA |
| 10.5.2. Canada |
| 10.6. North America Artificial Intelligence Market - Opportunity Analysis Index, By Offering, Technology, Deployment Mode, End User, and Country, 2023 - 2029 |
| 10.7. North America Artificial Intelligence Market Dynamics Trends |
| 11. Europe Artificial Intelligence Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) |
| 11.1. Offering Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 11.1.1. Hardware |
| 11.1.2. Software |
| 11.1.3. Services |
| 11.2. Technology Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 11.2.1. Machine Learning |
| 11.2.2. Natural Language Processing |
| 11.2.3. Context-Aware Computing |
| 11.2.4. Computer Vision |
| 11.3. Deployment Mode Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
| 11.3.1. Cloud |
| 11.3.2. On-premises |
| 11.4. End User Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
| 11.4.1. BFSI |
| 11.4.2. Retail and eCommerce |
| 11.4.3. Telecommunication and IT |
| 11.4.4. Healthcare and Life Sciences |
| 11.4.5. Automotive |
| 11.4.6. Government and Defense |
| 11.4.7. Manufacturing |
| 11.5. Country Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%) |
| 11.5.1. Germany |
| 11.5.2. UK |
| 11.5.3. France |
| 11.5.4. Spain |
| 11.5.5. Italy |
| 11.5.6. Russia |
| 11.5.7. Rest of Europe |
| 11.6. Europe Artificial Intelligence Market - Opportunity Analysis Index, By Offering, Technology, Deployment Mode, End User, and Country, 2023 - 2029 |
| 11.7. Europe Artificial Intelligence Market Dynamics Trends |
| 12. Asia-Pacific Artificial Intelligence Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) |
| 12.1. Offering Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 12.1.1. Hardware |
| 12.1.2. Software |
| 12.1.3. Services |
| 12.2. Technology Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 12.2.1. Machine Learning |
| 12.2.2. Natural Language Processing |
| 12.2.3. Context-Aware Computing |
| 12.2.4. Computer Vision |
| 12.3. Deployment Mode Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
| 12.3.1. Cloud |
| 12.3.2. On-premises |
| 12.4. End User Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
| 12.4.1. BFSI |
| 12.4.2. Retail and eCommerce |
| 12.4.3. Telecommunication and IT |
| 12.4.4. Healthcare and Life Sciences |
| 12.4.5. Automotive |
| 12.4.6. Government and Defense |
| 12.4.7. Manufacturing |
| 12.5. Country Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%) |
| 12.5.1. China |
| 12.5.2. India |
| 12.5.3. Japan |
| 12.5.4. ASEAN |
| 12.5.5. Australia & New Zealand |
| 12.5.6. Rest of Asia-Pacific |
| 12.6. Asia-Pacific Artificial Intelligence Market - Opportunity Analysis Index, By Offering, Technology, Deployment Mode, End User, and Country, 2023 - 2029 |
| 12.7. Asia-Pacific Artificial Intelligence Market Dynamics Trends |
| 13. Latin America Artificial Intelligence Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) |
| 13.1. Offering Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 13.1.1. Hardware |
| 13.1.2. Software |
| 13.1.3. Services |
| 13.2. Technology Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 13.2.1. Machine Learning |
| 13.2.2. Natural Language Processing |
| 13.2.3. Context-Aware Computing |
| 13.2.4. Computer Vision |
| 13.3. Deployment Mode Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
| 13.3.1. Cloud |
| 13.3.2. On-premises |
| 13.4. End User Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
| 13.4.1. BFSI |
| 13.4.2. Retail and eCommerce |
| 13.4.3. Telecommunication and IT |
| 13.4.4. Healthcare and Life Sciences |
| 13.4.5. Automotive |
| 13.4.6. Government and Defense |
| 13.4.7. Manufacturing |
| 13.5. Country Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%) |
| 13.5.1. Brazil |
| 13.5.2. Mexico |
| 13.5.3. Rest of Latin America |
| 13.6. Latin America Artificial Intelligence Market - Opportunity Analysis Index, By Offering, Technology, Deployment Mode, End User, and Country, 2023 - 2029 |
| 13.7. Latin America Artificial Intelligence Market Dynamics Trends |
| 14. Middle East and Africa Artificial Intelligence Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) |
| 14.1. Offering Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 14.1.1. Hardware |
| 14.1.2. Software |
| 14.1.3. Services |
| 14.2. Technology Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 14.2.1. Machine Learning |
| 14.2.2. Natural Language Processing |
| 14.2.3. Context-Aware Computing |
| 14.2.4. Computer Vision |
| 14.3. Deployment Mode Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
| 14.3.1. Cloud |
| 14.3.2. On-premises |
| 14.4. End User Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
| 14.4.1. BFSI |
| 14.4.2. Retail and eCommerce |
| 14.4.3. Telecommunication and IT |
| 14.4.4. Healthcare and Life Sciences |
| 14.4.5. Automotive |
| 14.4.6. Government and Defense |
| 14.4.7. Manufacturing |
| 14.5. Country Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%) |
| 14.5.1. Gulf Cooperation Council (GCC) Countries |
| 14.5.2. South Africa |
| 14.5.3. Rest of MEA |
| 14.6. MEA Artificial Intelligence Market - Opportunity Analysis Index, By Offering, Technology, Deployment Mode, End User, and Country, 2023 - 2029 |
| 14.7. MEA Artificial Intelligence Market Dynamics Trends |
| 15. Competition Landscape |
| 15.1. Strategic Dashboard of Top Market Players |
| 15.2. Company Profiles (Introduction, Financial Analysis, Key Offerings, Key Developments, Strategies, and SWOT Analysis) |
| 15.2.1. Intel Corporation (US) |
| 15.2.2. Baidu Inc. (China) |
| 15.2.3. IBM Corporation (US) |
| 15.2.4. Edify ai (US) |
| 15.2.5. Microsoft Corporation (US) |
| 15.2.6. Alphabet Inc. (US) |
| 15.2.7. Samsung Electronics Co., Ltd. (South Korea) |
| 15.2.8. Amazon Web Services, Inc. (US) |
| 15.2.9. SAS Institute Inc. (US) |
| 15.2.10. Facebook, Inc. (US) |
| 15.2.11. SAP SE (Germany) |
| 15.2.12. Salesforce.com, Inc. (US) |
| 15.2.13. NVIDIA Corporation (US) |
| 15.2.14. Oracle (US) |
| 15.2.15. Cisco (US) |
| 15.2.16 Siemens (US) |
| 16. Research Methodology |
| 17. Key Assumptions and Acronyms |
- Intel Corporation (US)
- Baidu Inc. (China)
- IBM Corporation (US)
- Edify ai (US)
- Microsoft Corporation (US)
- Alphabet Inc. (US)
- Samsung Electronics Co., Ltd. (South Korea)
- Amazon Web Services, Inc. (US)
- SAS Institute Inc. (US)
- Facebook, Inc. (US)
- SAP SE (Germany)
- Salesforce.com, Inc. (US)
- NVIDIA Corporation (US)
- Oracle (US)
- Cisco (US)
- Siemens (US)