New York, Feb. 16, 2023 (GLOBE NEWSWIRE) -- According to a report published by Next Move Strategy Consulting, the global Artificial Intelligence (AI) Market size generated USD 95.60 billion in 2021 and is projected to generate USD 1,847.58 billion by 2030, witnessing a CAGR of 32.9% from 2022 to 2030. The research offers a detailed analysis of the drivers, restraints, and opportunities to elucidate the changing dynamics of the market. Moreover, the research analyzes the major segments and their sub-segments to determine the fastest-growing and highest revenue-generating segments.
This report aims to guide market players, investors, and startups in devising strategies to achieve sustainable growth in the next few years, covering all aspects of the industry with comprehensive analysis in 530 pages, accompanied by 391 tables and 351 figures. Furthermore, the research examines the impact of COVID-19 on the global EV charging market share.
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| Report Coverage | Details |
| Forecast Period | 2022–2030 |
| Base Year | 2021 |
| Market Size in 2021 | USD 95.60 Billion |
| Market Size in 2030 | USD 1847.58 Billion |
| CAGR | 32.9% |
| No. of Pages | 530 |
| Tables | 391 |
| Figures | 351 |
| Segments Covered | Component, Deployment, Application, and Region |
| Drivers | Advancements in data-based AI and innovations in deep learning |
| The global shift toward digitalization is favorably impacting the market growth. | |
| Opportunities | The growing initiatives by tech giants to increase AI access enables future opportunities |
The report comprehensively analyzes the AI market dynamics based on drivers, restraining factors, and opportunities. The significant growth of the AI market is driven by the increased demand for various technologically advanced medical devices and the self-driving feature of new electric vehicles. The market growth, however, is hampered by the high initial cost of AI-based solutions and concerns relating to data privacy.
Lead Analyst for ICT and Media at Next Move Strategy Consulting stated, “Growing dependency on digital technology and development of industry 4.0 trends is expected to create new opportunities for the market in the coming years.”
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North America accounted for the highest share in 2021 and is expected to maintain its dominance throughout the forecast period. This is attributed to factors such as an increase in the internet user base, a surge in connected devices, and a spike in the use of AI-based platforms in the manufacturing, IT & telecommunication, and digital technology sectors. On the other hand, Europe is estimated to grow steadily during the forecast period, owing to several combined investments for AI research and development by the government and businesses and the increased demand for automated services by various industries.
The research offers a comprehensive analysis of each region and its countries based on segments and sub-segments that can help stakeholders consolidate their presence in the AI industry. In addition, this analysis can help determine the industry’s highest-revenue generating and fastest-growing segments and make the next big decision based on data-driven insights.
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The report offers an extensive analysis of the competitive landscape of the global AI market. Some major market players in the AI market include IBM, Google, Microsoft Corporation, NVIDIA Corporation, Intel Corporation, AWS, Oracle Corporation, SAP SE, Apple Inc., and Salesforce.
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Next Move Strategy Consulting is a premier market research and management consulting firm committed to providing its clients with strategically analyzed, well-documented latest research reports. The research industry is flooded with many firms to choose from. What makes Next Move different from the rest is its top-quality research and the obsession with turning data into knowledge by dissecting every bit of it and providing fact-based research recommendation that is supported by information collected from over 500 million websites, paid databases, industry journals, and one on one consultations with industry experts across a diverse range of industry sectors. The high-quality customized research reports with actionable insights and excellent end-to-end customer service help our clients make critical business decisions that enable them to move beyond time and have a competitive edge in the industry.
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