Authored By: Sarah
16 Feb 2024

AI Revolution: Envisioning a Staggering USD 125.3 Billion in Revenue Growth

The burgeoning global Artificial Intelligence Market is set to reach new heights, projecting substantial revenue growth of USD 125.3 billion and a rapid CAGR of 22.26% from 2023 to 2027. Factors fueling this expansion include advancements in fraud prevention, robust defense against malicious attacks, the integration of chatbots in AI, and a notable spike in employee productivity.

At the forefront of the Artificial Intelligence (AI) Market stand industry giants, including Advanced Micro Devices Inc., Alphabet Inc., and Amazon Web Services Inc. Contributing to the sector's vibrancy are key players like Apple Inc., Argo AI LLC, Baidu Inc., Huawei Technologies Co. Ltd and many more.

Download Now: Artificial Intelligence Market Sample Report

AI is swiftly gaining traction across diverse industries, fostering groundbreaking innovation. Employing techniques such as machine learning, deep neural networks, and robotics, it addresses challenges and enhances efficiency across various sectors.

  • Artificial Intelligence Platforms Market: The market is segmented in Deployment (On-premise and Cloud-based) and Geography (North America, APAC, Europe, South America, and MEA). 
  • Artificial Intelligence Market in the Software Segment: The software segment dominates the artificial intelligence market, valued at USD 19.63 billion in 2017 and steadily growing. Empowering developers, it facilitates the creation of intelligent applications using machine learning, speech recognition, and robust AI platforms
  • Artificial Intelligence Market in the Region-wise growth:  The artificial intelligence market in North America is estimated to contribute 56% to the growth of the global AI market during the forecast period with the US being the leading country in terms of investment. Big tech giants like Google LLC, IBM, Microsoft, and Amazon Web Services, Inc. are headquartered in the United States companies investing heavily.

The pivotal trend in the AI market is the ascendancy of narrow AI, illustrated by Siri and IBM Watson. Conversely, a shortage of AI experts hampers sector growth, as companies grapple with the need for specialized teams, data access, and significant investments to fully exploit AI's potential.

The future outlook for the Artificial Intelligence (AI) Market is highly promising from a business perspective. Ongoing advancements will contribute to heightened operational efficiency, enriched customer experiences, and innovative solutions, establishing AI as a pivotal force shaping the trajectory of business operations. Download Artificial Intelligence Market Sample Report Now

Artificial Intelligence (AI) Market: Key Highlights of the Report for 2023-2027

  • CAGR of the market during the forecast period 2023-2027
  • Detailed information on factors that will drive artificial intelligence (AI) market growth during the next five years
  • Precise estimation of the artificial intelligence (AI) market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the artificial intelligence (AI) market industry across North America, Europe, APAC, South America, and MEA
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of artificial intelligence (AI) market players
Read News Read Less
Interested in this report?
Get your sample now!