The global artificial intelligence market totaled USD 93.5 billion in 2021. The market is vast and further expected to expand at an astronomical CAGR of 38.1% from 2022 to 2030. The growth of the market is attributed to the rapidly growing technological advancement and its benefits in major industries such as healthcare, manufacturing, robotics, marketing, business analytics, and many others. Artificial intelligence is considered to be the future of mankind. Not only Artificial Intelligence will drive the world but it can lead humans in future years. To make the world a better place to live, artificial intelligence was invented. It is the combination of science and engineering to make machines that mimic the behavior of humans and address human work efficiently.
As the AI market is projected to be one of the largest markets across the globe in future years, the companies operating in the market are constantly focusing on increasing the customer base to gain a competitive edge. Strategies such as mergers & acquisitions, partnerships, the launch of new ideas, and many more are creating a wide range of possibilities for the market to witness growth at an asserted growth rate.
In December 2019, the Intel Corporation, a leading company has acquired Habana Labs Ltd, an Israel-based deep learning company in order to strengthen the AI portfolios of the Intel Corporation and its position in the global market.
In April 2020, Advanced Micro Devices declared a strategic alliance with Oxide Interactive LLC, a video game developer company, in order to enhance graphic technologies for the cloud gaming market. space.
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Artificial Intelligence Market Report Highlights
• Based on the technology insights, the deep learning segment dominated the market accounting for over 37% of the total market share in 2021. The complicated data-driven applications, also containing text or speech recognition systems, the segment is gaining traction in this technology-driven world. The challenges occurring due to the high data volumes, the segment is increasing to overcome the concerns
• Based on the end-use insights, the advertising and media segment accounted for over 20% of the total market revenue share in 2021. The growth of the segment is attributed to the rising AI marketing applications with a significant growth rate
• Based on regional insights, North America led the market accounting for over 42% of the total market share in 2021. The favorable government initiative and the high adoption of AI across major industries are propelling market growth in the region. With the focus on development and the availability of resources and expenses, the market is expected to thrive in the region
Artificial Intelligence Market Report Segments
Artificial Intelligence Solution Outlook (Revenue, USD Billion, 2017 - 2030)
Artificial Intelligence Technology Outlook (Revenue, USD Billion, 2017 - 2030)
• Deep Learning
• Machine Learning
• Natural Language Processing (NLP)
• Machine Vision
Artificial Intelligence End-use Outlook (Revenue, USD Billion, 2017 - 2030)
• Robot-Assisted Surgery
• Virtual Nursing Assistants
• Hospital Workflow Management
• Dosage Error Reduction
• Clinical Trial Participant Identifier
• Preliminary Diagnosis
• Automated Image Diagnosis
• Risk Assessment
• Financial Analysis/Research
• Investment/Portfolio Management
• Advertising & Media
• Automotive & Transportation
Artificial Intelligence Regional Outlook (Revenue, USD Billion, 2017 - 2030)
• North America
• Asia Pacific
• South America
• Middle East and Africa (MEA)
Key players of the Artificial Intelligence Market
• Advanced Micro Devices
• Arm Limited
• Atomwise, Inc.
• Ayasdi AI LLC
• Baidu, Inc.
• Clarifai, Inc
• Cyrcadia Health
• Enlitic, Inc.
• Google LLC
• HyperVerge, Inc.
• International Business Machines Corporation
• IBM Watson Health
• Intel Corporation
• Iris.ai AS.
• NVIDIA Corporation
• Sensely, Inc.
• Zebra Medical Vision, Inc.