Dublin, Dec. 13, 2022 (GLOBE NEWSWIRE) -- The "Citizen Services AI Market by Technology (ML, NLP, Image Processing and Face Recognition), Vertical (Transportation, Healthcare, Government & Public Sector, Energy & Utilities, Agriculture, and Education & Training) and Region - Global Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
The global citizen services AI market is projected to grow from USD 6.5 Billion in 2022 to USD 41.0 Billion by 2027, at a CAGR of 44.5% during the forecast period. Governments across the globe had begun to adopt cutting-edge technologies, such as artificial intelligence (AI) and machine learning (ML), to hasten the delivery of a number of citizen services. The concept is to actively bring those services to citizens, rather than waiting for citizens to request government services.
The use of Al in the public sector can improve governing bodies' day-to-day operations as well as facilitate efficient long-term planning that will help the government take on more challenging and long-term social and cultural challenges.
The major market players, such as IBM, Microsoft, ServiceNow, AWS, and Accenture, have adopted numerous growth strategies, which include acquisitions, new product launches, product enhancements, and business expansions, to enhance their market shares.
By deployment mode, the cloud segment to lead the market during the forecast period.
The cloud-based citizen services AI deployment mode is an economical and effective approach for enterprises to handle big data concerns. There is also a shift from traditional on-premises voice biometrics solutions to cloud-based AI solutions across large enterprises and SMEs, due to the increasing number of cloud-based applications. The cloud deployment mode is projected to grow from USD 2,724 million in 2022 to USD 16,357 million by 2027.
By component, the services segment registered a higher CAGR than the solution segment during the forecast period.
Due to the growing need for businesses and governmental organizations to improve their operational efficiency in order to provide citizens with better service, the entire services market is expanding significantly. The services segment allows businesses to monitor, assess, and analyze the need of citizens. By component, the services segment is projected to register a higher CAGR of 46.9% during the forecast period.
Asia Pacific market to register the highest CAGR during the forecast period.
The citizen services AI market is projected to register the highest CAGR of 49.3% in the Asia Pacific region during the forecast period. Many government organizations have shifted their focus toward delivering improved citizen services as a result of the rapid improvements in cloud computing and IoT. Organizations are quickly implementing citizen services AI products and services with an intent to increase operational efficiency and business agility. To boost the penetration of public initiatives across various bodies, governments, particularly those in emerging economies, are making huge technology transformation efforts.
Market Dynamics
Drivers
- Need for IT Modernization
- Integration of AI and Analytics with Citizen Services
- Growing Demand for Automation
- Low Operational and Initial Costs
Restraints
- Lack of Specialized Expertise
- Lack of Awareness Among Government Organizations About New Technologies
Opportunities
- Increasing Demand for Citizen Services AI
- Advent of New Technologies
- Organizations' Willingness to Use Advanced Technologies to Create Opportunities
Challenges
- Issues Related to It Modernization
- Integration Issues with Organizations' Internal Processes
- Lack of Expertise and Infrastructure Among End-users
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview and Industry Trends
6 Citizen Services AI Market, by Component
7 Citizen Service AI Market, by Organization Size
8 Citizen Service AI Market, by Deployment Mode
9 Citizen Services AI Market, by Technology
10 Citizen Services AI Market, by Vertical
11 Citizen Services AI Market, by Region
12 Competitive Landscape
13 Company Profiles
14 Appendix
Companies Mentioned
- Accenture
- Addo
- Alfresco
- Alibaba
- Automation Anywhere
- AWS
- Baidu
- Cardinality.AI
- H2O.AI
- IBM
- Intel
- Karexpert
- Liveroad Analytics
- Microsoft
- Mindtitan
- Nauto
- Nvidia
- Opentext
- Pegasystem
- Servicenow
- Tencent
- Vebits AI
- Voyager Labs
- Waymo
- We Build Bots
- Xenonstack
For more information about this report visit https://www.researchandmarkets.com/r/6s3jf2
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