Artificial Intelligence Market Segment And Industry Forecasts Till, 2022 - 2030.

The global artificial intelligence market size was valued at USD 93.5 billion in 2021 and is projected to expand at a compound annual growth rate (CAGR) of 38.1% from 2022 to 2030. The continuous research and innovation directed by the tech giants are driving the adoption of advanced technologies in industry verticals, such as automotive, healthcare, retail, finance, and manufacturing. For instance, In November 2020, Intel Corporation acquired Cnvrg.io., an Israeli company that develops and operates a platform for data scientists to build and run machine learning models, to boost Artificial Intelligence (AI) business. However, technology has always been an essential element for these industries, but AI has brought technology to the center of organizations.

For instance, from self-driving vehicles to crucial life-saving medical gear, AI is being infused virtually into every apparatus and program. AI is proven to be a significant revolutionary element of the upcoming digital era. Tech giants like Amazon.com, Inc.; Google LLC; Apple Inc.; Facebook, International Business Machines Corporation, and Microsoft are investing significantly in the research and development of AI. These companies are working to make AI more accessible for enterprise use-cases. Moreover, various companies adopt AI technology to provide a better customer experience. For instance, in March 2020, McDonald’s made its most significant tech investment of USD 300 million to acquire AI start-up Tel Aviv to provide a personalized customer experience using AI.

Gather more insights about the market drivers, restrains and growth of the Global Artificial Intelligence market

The essential fact accelerating the rate of innovation in AI is accessibility to historical datasets. Since data storage and recovery have become more economical, healthcare institutions and government agencies build unstructured data accessible to the research domain. Researchers are getting access to rich datasets from historic rain trends to clinical imaging. The next-generation computing architectures, with access to rich datasets, are encouraging information scientists and researchers to innovate faster. Furthermore, progress in profound learning and ANN (Artificial Neural Networks) has also fueled the adoption of AI in several industries, such as aerospace, healthcare, manufacturing, and automotive. 

ANN works in recognizing similar patterns and helps in providing modified solutions. Tech companies like Google Maps have been adopting the ANN to improve their route and work on the feedback received using the ANN. ANN is substituting conventional machine learning systems to evolve precise and accurate versions. For instance, recent advancements in computer vision technology, such as GAN (Generative Adversarial Networks) and SSD (Single Shot MultiBox Detector), have led to digital image processing techniques. For instance, images and videos taken in low light, or low resolution can be transformed into HD quality by employing these techniques. The continuous research in computer vision has built the foundation for digital image processing in security and surveillance, healthcare, and transportation, among other sectors. Such emerging machine learning methods are anticipated to alter the manner AI versions are trained and deployed.

The WHO has declared the novel coronavirus (COVID-19) outbreak a pandemic, causing a massive impact on businesses and humankind. This pandemic has emerged as an opportunity for AI-enabled computer systems to fight against the epidemic as several tech giants and start-ups are working on preventing, mitigating, and containing the virus. For instance, the Chinese tech giant Alibaba's research institute Damo Academy has developed a diagnostic algorithm to detect new coronavirus cases with the chest CT (Computed Tomography) scan. The AI model used in the system has been trained with the sample data from over 5,000 positive coronavirus cases. For instance, in June 2020, Lunit developed an AI solution for x-ray analysis of the chest for simpler management of Covid-19 cases and offered assistance in interpreting, monitoring, and patient trials.

COVID - 19 outbreak is expected to stimulate the market growth of next-generation tech domains, including artificial intelligence, owing to the mandated WFH (work-from-home) policy due to this pandemic. For instance, LogMeIn, Inc., a U.S.-based company that provides SaaS (Software-as-a-Service) and cloud-based customer engagement and remote connectivity and collaboration services, has experienced a significant increase in new sign-ups across its product portfolios amid the pandemic. Also, tech companies are expanding their product offerings and services to widen availability across the globe. For instance, in April 2020, Google LLC launched an AI-enabled chatbot called Rapid Response Virtual Agent for call centers. This chatbot is built to respond to issues customers might be experiencing due to the coronavirus (COVID-19) outbreak over voice, chat, and other social channels.

Browse through Grand View Research's Next Generation Technologies Industry Research Reports.

Smart Finance Hardware Market - The global smart finance hardware market size was valued at USD 14.07 million in 2021 and is anticipated to register a compound annual growth rate (CAGR) of 2.4% from 2022 to 2028. Smart finance hardware includes IoT components such as a communication module, a processing module, data acquisition, and sensors for ATMs.

Print On Demand Market - The global print on demand market size was valued at USD 4.90 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 26.1% from 2022 to 2030. Factors such as rising disposable income, increasing internet penetration and smartphone adoption, and inclination toward fashion apparel and unique products are fueling the demand for print-on-demand.

Artificial Intelligence Market Segmentation

Grand View Research has segmented the global artificial intelligence market based on solution, technology, end use, and region:

Artificial Intelligence Solution Outlook (Revenue, USD Billion, 2017 - 2030)

• Hardware
• Software
• Services

Artificial Intelligence Technology Outlook (Revenue, USD Billion, 2017 - 2030)

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

Artificial Intelligence End-use Outlook (Revenue, USD Billion, 2017 - 2030)

Healthcare

• Robot Assisted Surgery
• Virtual Nursing Assistants
• Hospital Workflow Management
• Dosage Error Reduction
• Clinical Trial Participant Identifier
• Preliminary Diagnosis
• Automated Image Diagnosis

BFSI

• Risk Assessment
• Financial Analysis/Research
• Investment/Portfolio Management
• Others

Law

Retail

Advertising & Media

Automotive & Transportation

Agriculture

Manufacturing

Others

Artificial Intelligence Regional Outlook (Revenue, USD Billion, 2017 - 2030)

North America

• U.S.
• Canada
• Mexico

Europe

• Germany
• U.K.
• France
• Italy
• Spain
• Russia

Asia Pacific

• China
• India
• Japan
• Australia
• Thailand
• Malaysia

Central & South America

• Brazil

Middle East & Africa

• South Africa

Market Share Insights

January 2022 - Cadbury started an initiative to let small business owners create their AD for free using the face and voice of the celebrity with the help of an AI tool. However, the healthcare sector is anticipated to gain a leading share by 2030.

December 2019 - Intel Corporation completed the acquisition of Habana Labs Ltd., an Israel-based deep learning company. This acquisition is anticipated to strengthen Intel Corporation’s AI portfolio and boost its efforts in the AI silicon market.

Key Companies profiled:

Some prominent players in the global Artificial Intelligence market include

• Advanced Micro Devices
• AiCure
• Arm Limited
• Atomwise, Inc.
• Ayasdi AI LLC
• Baidu, Inc.
• Clarifai, Inc
• Cyrcadia Health
• Enlitic, Inc.
• Google LLC
• H2O.ai.
• HyperVerge, Inc.
• International Business Machines Corporation
• IBM Watson Health
• Intel Corporation
• Iris.ai AS.
• Lifegraph
• Microsoft
• NVIDIA Corporation
• Sensely, Inc.
• Zebra Medical Vision, Inc.

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