Information Technology

The Artificial Intelligence Services Market Is Estimated To Reach $55.38 Billion By 2027 At A CAGR Of 31.8% – Includes Artificial Intelligence Services Market Trend

The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

 

The rise in the adoption of cloud-based solutions are expected to drive innovation in artificial intelligence services manufacturing, thus driving the market during the forecast period.

 

The global artificial intelligence services market is expected to grow from $12.39 billion in 2022 to $18.34 billion in 2023 at a compound annual growth rate (CAGR) of 48.0%. The global artificial intelligence services market size is expected to grow to $55.38 billion in 2027 at a CAGR of 31.8%.

 

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Global Artificial Intelligence Services Market Segments Include:

  • By Technology: Machine Learning, Computer Vision, Natural Language Processing (NLP), Other Technology
  • By Services Type: Managed Services, Professional Services
  • By Software Tools: Web-based and Cloud Application Programming Interface, Processing and Modeler, Archiving and Data Storage
  • By Application Type: Fraud Detection, Data Analytics & Visualization, Customer Service and Management, Risk Management, Compliance & Security
  • By End-User: Banking, Financial, and Insurance (BFSI), IT & Telecom, Retail, Manufacturing, Public Sector, Energy & Utility, Healthcare, Other End-Users
  • By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia Pacific is the largest region in the global artificial intelligence services market in 2021.

 

Major Market Players in the artificial intelligence services market include Intel Corp., International Business Machines Corp., Microsoft Corp., SAP SE, SAS Institute Inc., Amazon.com Inc., Salesforce.

 

The use of artificial intelligence as a service for human interaction with machines using natural language processing (NLP) is a key trend shaping the artificial intelligence services market. Natural language processing (NLP) is a type of artificial intelligence that explains how human language and computers interact. Machine translation is an enormous technology for NLP that enables us to overcome the challenges to contact people from all over the world and to understand software manuals and catalogs written in a foreign language. For instance, the Livox app, a customizable application in 25 languages helps the disabled to communicate.

 

The Artificial Intelligence Services Global Market Report 2023  provides a artificial intelligence services market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The artificial intelligence services market forecast analyzes artificial intelligence services market size, artificial intelligence services market share, leading competitor market positions. The regions covered in the report include Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa and the countries include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

 

Artificial intelligence is a wide-ranging branch of computer science-related with building smart machines that can perform tasks that require human intelligence.

 

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