Global & U.S. Artificial Intelligence (AI) Market to Reach USD 175.63 Billion by 2028 at a CAGR of 40.1%; Encouragement by Various Government & Regulatory Bodies to Boost the Market Growth

WASHINGTON, Nov. 30, 2021 (GLOBE NEWSWIRE) -- Vantage Market Research has published a report titled as “Artificial Intelligence Market 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 (North America, Europe, Asia Pacific, Latin America and Middle East & Africa): Global Market Assessment, 2021 – 2028”. The report states Artificial Intelligence Market is expected to reach USD 175.63 Billion by 2028, growing at a CAGR of 41.23% in between 2021 to 2028, owing to the accessibility to historical datasets, Artificial Neural Networks (ANN) and progress in profound learning are driving the growth of Artificial Intelligence Market. Moreover, the increasing need for analysing and interpreting large amounts of data and high investment in AI technologies are fuelling the high demand of Artificial Intelligence Market in the coming years.

Impact of COVID-19:

The present epidemic has affected every market in the world. Many businesses, including the worldwide Artificial Intelligence Market, have been impacted by the COVID-19 pandemic. To battle the epidemic, the government and nations have implemented a number of strict measures, including lockdown and adjustments to a number of industrial rules, in order to assist various enterprises in remaining competitive. The paper includes a full breakdown of the pre- and post-pandemic effect analysis. During the COVID-19 situation, the market is projected to gradually gain traction by implementing strategic plans.

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Key Findings:

• Software solution segment of Artificial Intelligence Market accounted for the fastest growth at a CAGR of 40.1% in the coming years. This growth is anticipated due to the large computing power, parallel processing capabilities and provident improvements in information storage activities to provide high-end Artificial Intelligence software. These software are useful for deploying and designing artificial intelligence applications such as video analytics, sparse matrices, linear algebra, primitives, inference, and multiple hardware communication capabilities. This is also considered to propel the growth of Artificial Intelligence Market in the projected years.
• Advertising and media segment of Artificial Intelligence Market is expected to grow at a promising CAGR of 42.5% over the projected years. Owing to the high use of AI technology for marketing or trading purpose is expected to augment the high growth of Artificial Intelligence Market during forecast period. Factors such as creating promotional strategies, audience goals and making effective customer solutions are fueling the segmental growth of the market.
• North America is expected to dominate the Artificial Intelligence Market at a CAGR of 43.2% during the forecast period. This is owing to the encouraging government focus for acquiring the artificial intelligence technology across various industries. For example, U.S President introduced the American AI Initiative for leadership purpose as the nation's policy. This has resulted the public trust in artificial intelligence-based systems supported by federal agencies. This real-life implementation and the development of AI-based system across various industries are propelling the growth of Artificial Intelligence Market.
  

The key players that dominated the global Artificial Intelligence Market are as mentioned in the table below:

Browse 315 market data Tables and 46 Figures spread through Pages and in-depth TOC on "Artificial Intelligence Market 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 (North America, Europe, Asia Pacific, Latin America and Middle East & Africa): Global Market Assessment, 2021 – 2028" Report at https://www.vantagemarketresearch.com/industry-report/artificial-intelligence-market-0183

The use of artificial intelligence in self-driving vehicles to crucial life-saving application are supporting the growth of AI market in the coming years. Artificial intelligence is assumed to be the significant part of upcoming digital market, which in turns propel the market growth. Most of the industries are building unstructured data which is accessible to the research domain. This next-generation computing architectures to access rich datasets are encouraging the fastest growth of AI market during the projected period.

Important questions answered in this report:

• What is the estimated market size and growth rate of the Artificial Intelligence Market?
• Which segments are included in the Artificial Intelligence Market?
• Which top companies are active in the Artificial Intelligence Market?
• What are the major driving factors for the growth of the Artificial Intelligence Market?
• How can I get free sample reports or study of Artificial Intelligence Market?
  

Asia Pacific is expected to witness significant growth of Artificial Intelligence Market in the coming years. The main reason behind this growth is owing the high investments in artificial intelligence in the region by government authorities. This in turns drive the market growth in next few years.

The Artificial Intelligence Market is segmented as follows:

By Solution (Revenue: USD Million, 2016 - 2028)

• Hardware
• Software
• Services
  

By Technology (Revenue: USD Million, 2016 - 2028)

• Deep Learning
• Machine Learning
• Natural Language Processing (NLP)
• Machine Vision

By End-use (Revenue: USD Million, 2016 - 2028)

• Healthcare
• BFSI
• Law
• Retail
• Advertising & Media
• Automotive & Transportation
• Agriculture
• Manufacturing
• Others
  

By Region (Revenue: USD Million, 2016 - 2028)

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • U.K.
  • France
  • Germany
  • Italy
  • Spain
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • South East Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Argentina
  • Rest of Latin America
• Middle East & Africa
  • GCC Countries
  • South Africa
  • Rest of Middle East & Africa

Get Detailed COVID-19 Impact Analysis On The Artificial Intelligence Market- https://www.vantagemarketresearch.com/insight/press-release/artificial-intelligence-market-464799

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