Dublin, Aug. 26, 2024 (GLOBE NEWSWIRE) -- The "Artificial Intelligence (AI) Market Forecast to 2029: Investments vs Potential" report has been added to ResearchAndMarkets.com's offering.
This report analyzes the global artificial intelligence (AI) market and breaks it down into segments: AI solution type (software, services and hardware) and deployment mode (on-premise and cloud). In addition, the report analyzes the key AI technologies such as machine learning (ML), computer vision, natural language processing (NLP) and context-aware computing. It also examines the applications of AI technology in end-user industries such as BFSI, media and entertainment, healthcare, security and surveillance, marketing, logistics and supply chain, retail, automotive, telecom and IT, energy and utilities, manufacturing, education, legal, agriculture and government.
The report discusses the solutions provided by AI companies. It includes a regional analysis that covers the current and future factors influencing the deployment of AI solutions in North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa.
The report analyzes the key drivers and regional dynamics of the AI market, along with current industry trends. It concludes with profiles of the major AI providers. The base year for the study is 2023, and projections for 2024 through 2029 are provided, along with expected CAGRs for this forecast period.
The global market for artificial intelligence (AI) is estimated to increase from $148.8 billion in 2023 to reach $1.1 trillion by 2029, at a compound annual growth rate (CAGR) of 39.7% from 2024 through 2029.
- The North American market for artificial intelligence is estimated to increase from $54.2 billion in 2023 to reach $342.4 billion by 2029, at a CAGR of 36.1% from 2024 through 2029.
- The Asia-Pacific market for artificial intelligence is estimated to increase from $45.4 billion in 2023 to reach $433.8 billion by 2029, at a CAGR of 45.7% from 2024 through 2029.
The AI market is being driven by a combination of multiple factors. Advances in AI technology have paved the way for more sophisticated and capable solutions. Businesses are increasingly adopting AI to enhance customer service by leveraging chatbots, virtual assistants and personalized recommendations. The rise of cloud computing has also played a significant role, providing the necessary infrastructure and scalability for AI applications.
Also, the increasing demand to analyze and interpret large amounts of data has fueled the adoption of AI, as it offers powerful tools for processing data and developing insights from it. However, data privacy concerns, the high costs associated with AI development and the deployment of advanced AI solutions could restrain the market's growth.
The report includes:
- 87 data tables and 57 additional tables
- An analysis of the current and future global markets for artificial intelligence (AI)
- Analyses of global market trends, with market revenue data (sales figures) for 2023, estimates for 2024, forecast for 2025 and 2027, and projected CAGRs through 2029
- Estimates of the market size and revenue forecasts for the global AI market, with market share analysis by type, solution, deployment, technology, end user industry, and region
- Discussions of the market dynamics, opportunities and challenges, as well as emerging technologies
- Discussion of advances in AI technology and its usage for enhanced customer service, and analysis & interpretation of large amounts of data; information on generative AI and explainable AI (XAI) and their advantages and drawbacks
- Overview of the sustainability trends and ESG developments in the industry, with emphasis on the ESG practices of leading companies, their ESG scores, and consumer attitudes
- Competitive intelligence, including companies' market shares, recent M&A activity and venture funding
- Company profiles of major players within the industry, including Samsung, Intel Corp., Google Inc. (Alphabet Inc.), Microsoft, and Nvidia Corp.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 257 |
| Forecast Period | 2023 - 2029 |
| Estimated Market Value (USD) in 2023 | $148.8 Billion |
| Forecasted Market Value (USD) by 2029 | $1100 Billion |
| Compound Annual Growth Rate | 39.7% |
| Regions Covered | Global |
Key Topics Covered:
Chapter 1 Executive Summary
Chapter 2 Market Overview
- Market Scenario
- AI Autonomy Levels
- Weak/Narrow AI
- Strong AI
- Future Analysis
- Short-Term Future
- Long-Term Future
- Value Chain Analysis
- Porter's Five Forces Analysis
Chapter 3 Market Dynamics
- Market Drivers
- Advances in AI Technology
- Use of AI to Enhance Customer Service
- Rise of Cloud Computing
- Analyzing and Interpreting Large Amounts of Data
- Increased Demand for Automation and Efficiency
- Market Restraints
- Data Privacy Concerns
- High Cost of Deployment
- Market Opportunities
- Advances in Generative AI
- Adoption of Cloud-Based Al Solutions
- Market Challenges
- Biases in AI Algorithms
- Integration Challenges
Chapter 4 Regulatory Landscape
- European Union
- United States
- China
- Japan
- South Korea
- India
- Canada
- Australia
- U.K.
Chapter 5 Emerging Technologies
- Emerging Technologies
- Generative AI
- Explainable AI (XAI)
- Federated Learning
- Reinforcement Learning
- Quantum AI
- AI-Driven IoT (AIoT)
- Patent Analysis
- Geographical Patterns
- Findings
Chapter 6 Market Segmentation Analysis
- Market Breakdown by Solution Type
- AI Software
- AI Services
- AI Hardware
- Market Breakdown by Deployment Mode
- On-Premise
- Cloud
- Market Breakdown by Technology
- Machine Learning
- Computer Vision
- Natural Language Processing (NLP)
- Context-Aware Computing
- Market Breakdown by End-User Industry
- BFSI
- Media and Entertainment
- Healthcare
- Security and Surveillance
- Marketing
- Logistics and Supply Chain
- Retail
- Automotive
- Telecom and IT
- Energy and Utilities
- Manufacturing
- Education
- Legal
- Agriculture
- Government
- Market Breakdown by Region
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East and Africa
Chapter 7 Competitive Landscape
- Analysis of Leading Companies
Chapter 8 Environmental, Social, and Governance (ESG) Perspective
- Current Status of ESG in the AI Industry
Companies Featured
- Advanced Micro Devices Inc.
- Broadcom
- IBM
- Check Point Software Technologies Ltd.
- Dell
- Cisco Systems
- Infineon Technologies
- Fortinet
- Meta
- Intel
- Hewlett Packard Enterprise Development
- Microsoft
- SAS Institute Inc.
- SAP SE
- Mediatek Inc.
- Huawei Technologies Co. Ltd.
- Nvidia Corp.
- Siemens
- Micron Technology Inc.
- Telefonaktiebolaget LM Ericsson
- Oracle
- Samsung
- Salesforce
For more information about this report visit https://www.researchandmarkets.com/r/6kouo2
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