Dublin, June 15, 2023 (GLOBE NEWSWIRE) -- The "Global Causal AI Market Forecast to 2030" report has been added to ResearchAndMarkets.com's offering.
The global market for causal AI is projected to grow from USD 8.01 million in 2023 to USD 119.5 million by 2030, at a CAGR of 47.1% during the forecast period. Causal AI is the only technology that can reason and make choices such as humans do. It has the potential to revolutionize enterprise AI, making it more transparent, fair, and safe. The increasing demand for accurate predictions and decision-making is expected to drive the market.
The Healthcare and Lifesciences vertical is projected to be the largest market during the forecast period
The healthcare and life sciences industry is one of the fastest-growing sectors in the world, and the adoption of causal AI technology is on the rise. Causal AI and Causal ML is used in healthcare and life sciences for drug discovery, patient diagnosis, treatment, personalized medicine, and more. The high adoption of advanced technologies in the healthcare sector, the presence of several key players, and the growing demand for personalized medicine are some of the factors driving the growth of the market in North America. Europe is also expected to grow significantly, driven by the increasing adoption of AI technology and the growing demand for innovative healthcare solutions. The healthcare and life sciences industry is witnessing a surge in investments and acquisitions related to causal AI technology.
Among deployment, on-premises segment is registered to grow at the highest CAGR during the forecast period
On-premises deployment of causal AI platforms involves installing the software directly onto the organization's servers or hardware infrastructure. This deployment model provides maximum control over the data and the platform, as all data is stored within the organization's own network. On-premises deployment may be preferred by organizations with strict data privacy or regulatory compliance requirements, as it allows them to maintain complete control over their data. On-premises deployment also offers the potential for greater customization and integration with existing IT infrastructure.
Among training, support, and maintenance services segment is anticipated to account for the largest market size during the forecast period
Causal AI training, support, and maintenance services provide organizations with the ongoing support and expertise they need to effectively leverage causal inference tools and techniques. These services focus on providing the education, training, and technical support necessary to ensure organizations can get the most value from their causal inference solutions.
Rest of World is projected to witness the highest CAGR during the forecast period
The causal AI market is rapidly expanding globally, with a growing number of companies and governments investing in this emerging technology. In regions outside North America and Europe, the market is also experiencing significant growth, driven by various factors such as increasing demand for advanced data analytics, rising investments in AI research and development, and the adoption of AI-based solutions across various industries. One of the major trends in the causal AI market in these regions is the increasing adoption of AI-based solutions in sectors such as healthcare, finance, and retail.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 201 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value (USD) in 2023 | $8.01 Million |
| Forecasted Market Value (USD) by 2030 | $119.5 Million |
| Compound Annual Growth Rate | 47.1% |
| Regions Covered | Global |
Key Topics Covered:
Executive Summary
- Causal AI Market Size and Growth Rate, 2020-2022
- Market Size and Growth Rate, 2023-2030
- Causal AI Platforms to Account for Larger Market Than Services in 2023
- Cloud Deployment to Account for Larger Market Share in 2023
- Consulting Services to Account for Largest Market in 2023
- Healthcare & Lifesciences Vertical to Account for Largest Market in 2023
- North America Estimated to Account for Largest Share in 2023
Premium Insights
- Attractive Opportunities for Players in Causal AI Market - High Demand for Platforms to Transfer Data from Physical Premises to Cloud
- Market, by Vertical - Healthcare & Life Sciences to Account for Largest Size During Forecast Period
- Market, by Region - North America to Account for Largest Share by 2028
- Market, by Offering and Key Vertical - Platforms and Healthcare & Life Sciences Segments to Account for Significant Respective Shares by 2030
Market Overview and Industry Trends
Drivers
- Importance of Causal Inference Models in Various Fields
- Emergence of Causal AI to Overcome Limitations of Current AI
- Operationalizing AI Initiatives
Restraints
- Lack of Interpretability and Explainability
- Acquiring and Preparing High-Quality Data
Opportunities
- Potential to Revolutionize Healthcare Field
- Technological Advancements
Challenges
- Causal Inference from Complex Data Sets
- Lack of Standardization
Case Study Analysis
- Accelerating Model Validation with Causal AI
- Unlocking Revenue Growth with Causal AI-Powered Pricing and Promotion Optimization
- Using Causal AI to Enhance Customer Retention Strategies
- Revolutionizing Data Provider Industry with Causal AI
- Use of Causal AI for Customer Segmentation
Company Profiles
- Aitia
- AWS
- Causalens
- Causalis
- Causality Link
- Causaly
- Cognino.AI
- Cognizant
- Datarobot
- Dynatrace
- Geminos
- H2O.AI
- IBM
- Incrmntal
- Logility
- Microsoft
- Omics Data Automation
- Parabole.AI
- Scalnyx
For more information about this report visit https://www.researchandmarkets.com/r/6a29e5
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