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 global artificial intelligence market size is expected to grow from $56.89 billion in 2022 to $73.38 billion in 2023 at a compound annual growth rate (CAGR) of 29.0%. The market share of the global artificial intelligence is expected to grow to $167.29 billion in 2027 at a CAGR of 22.9%.

What will drive the artificial intelligence market?

Growing investment in AI technologies contributed to the growth of the Artificial intelligence market.

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Who are the major players in the market?

Major players in the artificial intelligence market are Google, IBM, Baidu, Microsoft, Apple Inc., Ipsoft, NVIDIA corporation, Samsung Electronics Co.Ltd., MicroStrategy Inc., Qlik Technologies Inc.

Which trend is gaining popularity in the artificial intelligence market?

Automated machine learning is being implemented by many companies. It is quite complicated to apply traditional machine learning models for real-world business problems. The better solution is to use Automated machine learning which allows non-machine learning (ML) experts to use machine learning algorithms without being machine learning wizards. For instance, tools like Google cloud AutoML are used to train custom-made and high-quality ML models with a minimum ML expertise.

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How is the artificial intelligence market segmented?

Global Artificial Intelligence Market Segments Include:

• By Offering: Hardware, Software, Services
• By Technology: Machine learning, Natural language processing, Context-Aware Computing, Computer Vision, Other Technologies (Image processing, Speech recognition)
• By End-user Industry: Healthcare, Automotive, Agriculture, Retail, Marketing, Telecommunication, Defense, Aerospace, Media & Entertainment, Other End-User Industries
• 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 market in 2021.

The Artificial Intelligence Global Market Report 2023  provides an overview of the artificial intelligence market for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The artificial intelligence market forecast analyzes artificial intelligence market size, artificial intelligence market share, leading competitor and their market positions.

Artificial intelligence (AI) is a simulation of the human intelligence in machines that are programmed to think and behave like humans. AI helps to complete the job quickly and with relatively few errors.

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