HomeReportsArtificial Intelligence Market is Projected to Reach US$ 723.64 Billion in 2028

Artificial Intelligence Market is Projected to Reach US$ 723.64 Billion in 2028

Artificial Intelligence Market is expected to reach US$ 723.64 Billion in 2028, growing at a CAGR of 38.4% during 2022- 2028, reports Stratview Research.

Stratview Research, a leading market research firm has launched a report on the Artificial Intelligence Market which provides an in-depth analysis of the market dynamics, current and emerging trends, industry forecast, and competitive landscape.

Click here to get the free sample pdf:

https://www.stratviewresearch.com/Request-Sample/2742/artificial-intelligence-market.html#form

How is the Report Helpful?

The report has a very high utility for the key decision-makers and strategists in terms of accurate market insights, future growth opportunities, and key success factors.

Most importantly, the report analyses the possible impact of COVID-19 on the market dynamics which offers cushioning against the uncertain business environment and helps in streamlining the resources and investment decisions in a fruitful manner.

What are the Top Market Drivers?

According to the report, the Artificial Intelligence Market is driven by a host of factors, some of which are noted below:

  • Growing number of innovative start-ups as well as technology advancements have resulted in an increase in investment in artificial intelligence technologies
  • Substantial growth in demand for analyzing along with interpreting large amounts of data are proliferating the product demand.

The report also includes growth rate estimates based upon the intensity of drivers and constraints and provides the users with several graphical illustrations of the key insights.

Artificial Intelligence Market Segmentation:

Stratview Research has segmented the market in the following 4 ways which fulfill the market data needs of multiple stakeholders across the industry value chain.

  • By Solution (Hardware, Software, Services),
  • By Technology (Deep Learning, Machine Learning, Natural Language Processing, Machine Vision),
  • By End Use (Healthcare, BFSI, Law, Retail, Advertising & Media, Automotive & Transportation, Agriculture, Manufacturing, Others)
  • By Region

 

Artificial Intelligence Market Insights

Market Trends by Solution Type

The market has been classified into hardware, software, and services. Under these, the software segment held a significant market share of around 39% in 2020. This is mainly attributed to practical improvements in high computing power, information storage capacity, and parallel processing capabilities to offer high-end AI software in dynamic industries, which boosts the segment growth.

Market Trends by Technology type

The market has been classified into Deep Learning, Machine Learning, Natural Language Processing, Machine Vision. Under these, deep learning segment held a significant market share of more than >35.0% in 2021. and is projected to grow at a robust CAGR in the coming years.

Market Trends by End-Use type

The market has been classified into Healthcare, BFSI, Law, Retail, Advertising & Media, Automotive & Transportation, Agriculture, Manufacturing, Others. Under these, the advertising and media segment held a significant market share of more than >18.0% in 2021. and is projected to grow at a robust CAGR in the coming years.

Which region offers the best opportunity and growth?

The North America market held the highest market share of over >40% in 2021 and is projected to grow at a fastest CAGR in the coming years. This is ascribed to large presence of major players, favorable government initiatives to promote the adoption of artificial intelligence (AI) across different verticals, which bolsters the regional market growth.

COVID-19 Impact on the Artificial Intelligence Market

COVID-19 has put an instant halt to many industries across the globe. Lockdown norms in several countries have swiftly affected the global economy by affecting the supply chain, production, and demand in the market. Both direct, as well as indirect impacts of the pandemic, have been incorporated in this report.

To know more about the covid-19 impact, get a free sample report, here:

https://www.stratviewresearch.com/Request-Sample/2742/artificial-intelligence-market.html#form

Who are the Top Market Players?

After a thorough analysis of the market, the experts have listed a few key players and discussed company profiles of the below-given players –

  • IBM Corporation (US)
  • Intel Corporation (US)
  • Microsoft Corporation (US)
  • Google LLC (US)
  • Amazon Web Services Inc. (US)
  • Oracle Corporation (US)
  • Salesforce.com Inc. (US)
  • SAP SE (Germany)
  • SAS Institute Inc. (US)
  • Cisco Systems Inc. (US).

What deliverables will you get in this report?

  • In-depth analysis of the Artificial Intelligence Market
  • Detailed market segmentation.
  • Competitive-landscape analysis.
  • Historical, present, and future market size analysis.
  • Industry trends, technologies, and advancements.
  • Growth and operation strategies adopted by key players.
  • Potential segments/regions offering promising growth.
  • Geographical presence of the key players.

Related reports which might be useful:

  1. Artificial Intelligence (AI) in Telecommunication Market

https://www.stratviewresearch.com/2743/artificial-intelligence-ai-in-telecommunication-market.html

  1. Artificial Intelligence as a Service Market

https://www.stratviewresearch.com/2741/artificial-intelligence-as-a-service-market.html