Dublin, Feb. 02, 2024 (GLOBE NEWSWIRE) -- The "Global Artificial Intelligence Market (2023-2028) by Offerings, Technology, Function, Vertical, and Geography, Competitive Analysis, Impact of Covid-19 and Ansoff Analysis" report has been added to ResearchAndMarkets.com's offering.
The Global Artificial Intelligence (AI) Market, currently valued at USD 150.3 billion in 2023, is undergoing a seismic shift, with projections indicating a leap to USD 460.89 billion by 2028, growing at an impressive CAGR of 25.12%. This growth trajectory is underpinned by the advancement in autonomous AI technologies and their increasing adoption across diverse industries.
The pivotal role of autonomous AI is central to this growth, offering transformative solutions that deliver enhanced accuracy and reliability. Industries such as healthcare, finance, manufacturing, transportation, and retail are harnessing AI to streamline operations and optimize costs, yielding substantial productivity improvements. The relentless progress in machine learning and natural language processing technologies is further buoying the market expansion, enabling the development of increasingly sophisticated autonomous AI systems. Despite the robust ascent, the AI market faces headwinds in the form of data limitations, which affect the development and application of AI solutions.
Access to extensive, diverse datasets is crucial for effective AI systems, as training on limited or poor-quality data can lead to unreliable and biased outcomes. Therefore, meticulous data processing is imperative to ensure AI systems can operate to their full potential.
Market Segmentation
The segmentation of the AI market is multifaceted, covering a spectrum of offerings, technologies, functions, and verticals across a diverse geographical landscape:
- By Offering: Hardware, Software, and Services
- By Technology: Machine Learning, Natural Language Processing, Computer Vision, Context-Aware Computing
- By Function: Image Recognition, Speech Recognition, Predictive Maintenance
- By Vertical: Finance, Healthcare, Retail, Automotive, Agriculture, and more
- By Geography: Americas, Europe, Asia-Pacific, Middle East, and Africa
Recent Market Developments
A notable recent development within the AI space features WiseTech Global's strategic acquisition of Blume Global, expanding its capabilities and reach in the North American intermodal rail sector as of February 2023.
Competitive Analysis
This market's landscape is marked by the active participation of key players such as Accenture, Adobe, Aera Technology, Alibaba Group, Amazon Web Services, and Apple. The report provides an in-depth analysis of these companies' market positioning and financial performance.
Countries Studied The comprehensive analysis includes key regions driving the AI market:
- America (including the United States, Canada, Brazil, etc.)
- Europe (including the United Kingdom, Germany, France, etc.)
- Asia-Pacific (including China, India, Japan, etc.)
- Middle East and Africa (including Saudi Arabia, South Africa, UAE, etc.)
Strategic Growth Analysis
Using the Ansoff Matrix analysis, the report outlines strategic growth directives, assessing risk, and potential in various strategies including Market Development, Market Penetration, Product Development, and Diversification. In conclusion, the detailed report serves as an essential resource, shedding light on the competitive dynamics, strategic growth paths, and the pervasive influence of AI across industries. Decision-makers and stakeholders can derive actionable insights to navigate the market effectively.
Market Report Highlights
The comprehensive Global Artificial Intelligence Market report provides significant insights such as: - In-depth analysis of parent industry dynamics and trends. - Market segmentation by offerings, technology, verticals, and geography. - A vigilant evaluation of market size, share, and growth factors. - Strategic profiling of key players and a comprehensive study of their market standing. The latest report encapsulates the critical market parameters that will guide businesses and stakeholders in strengthening their market foothold in the Artificial Intelligence landscape, setting the stage for innovative developments in the coming years.
Key Attributes
| Report Attribute | Details |
| No. of Pages | 204 |
| Forecast Period | 2023 - 2028 |
| Estimated Market Value (USD) in 2023 | $150.3 Billion |
| Forecasted Market Value (USD) by 2028 | $460.89 Billion |
| Compound Annual Growth Rate | 25.1% |
| Regions Covered | Global |
Companies Mentioned
- Accenture
- Adobe
- Aera Technology
- Alibaba Group
- Amazon Web Services (AWS)
- Apple
- Atomwise
- Baidu
- Butterfly Network
- Cisco
- Fosfor
- Huawei
- IBM
- Iflytek
- Intel
- Intrinsic
- Jasper
For more information about this report visit https://www.researchandmarkets.com/r/9ie5v2
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