Comprehensive Artificial Intelligence Systems Spending Market Analysis 2024: Size, Share, And Key Trends
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The artificial intelligence systems spending market has witnessed exponential growth, surging from $117.38 billion in 2023 to $174.16 billion in 2024, demonstrating a remarkable CAGR of 48.4%. This growth is attributed to factors including increased computing power, rise of cloud computing, heightened awareness and education regarding AI, regulatory and compliance requirements, and proliferation of industry-specific applications. Looking forward, the market is anticipated to experience continued exponential growth, projected to reach $827.98 billion in 2028, with a CAGR of 47.7%. This growth is driven by factors such as exponential increase in data, advancements in autonomous systems and robotics, integration of quantum computing, global digital transformation initiatives, and accelerated adoption of AI in healthcare. Significant trends include utilization of AI in edge computing, AI for cybersecurity purposes, integration of quantum computing and AI, AI-driven personalization strategies, and strategic collaborations within the industry.
The artificial intelligence systems spending market is set to experience notable growth driven by the escalating demand for automation. Automation, characterized by technology-driven task execution with minimal human intervention, finds extensive application in back-office operations. Marketers’ increasing adoption of automation, highlighted by Routine Automation’s reports, underscores the rising demand for AI-driven systems to automate repetitive tasks. Consequently, the surge in automation fuels the growth of the artificial intelligence systems spending market.
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What Are The Key Trends That Influence Artificial Intelligence Systems Spending Market Share Analysis?
Major companies in the artificial intelligence systems spending market are focusing on AI advancements like EY.ai to drive business transformation through confident decision-making. EY.ai is a platform that integrates human capabilities with AI to facilitate confident decision-making and business transformation. For instance, in September 2023, Ernst & Young Global Limited, a UK-based professional services company, launched EY.ai, which combines human expertise with AI to support embedding AI into proprietary EY technologies and securing alliances with innovative organizations, leveraging EY’s technology and AI capabilities across various domains.
Which Market Players Are Driving Growth In The Artificial Intelligence Systems Spending Market?
Major companies operating in the artificial intelligence systems spending market report are Alphabet Inc., Microsoft Corporation, Alibaba Group Holding Limited, Facebook Inc., Dell Technologies Inc., Tencent Holdings Limited, Amazon Web Services, Siemens AG, General Electric (GE), Intel Corporation, Accenture plc, IBM Corporation, Cisco Systems Inc., Oracle Corporation, Qualcomm Incorporated, SAP SE, Hewlett Packard Enterprise (HPE), NVIDIA Corporation, Salesforce.com, Baidu Inc., Adobe Inc., Splunk Inc., PTC Inc., Palantir Technologies Inc., Informatica LLC, Cloudera Inc.
How Is The Global Artificial Intelligence Systems Spending Market Segmented?
The artificial intelligence systems spending market covered in this report is segmented –
1) By Component: Software, Hardware, Service
2) By Technology: Natural Language Processing, Deep Learning, Artificial General Intelligence, Machine Vision, Artificial Super Intelligence, Machine Learning
3) By Application: Automated Threat Intelligence And Prevention Systems, Fraud Analysis And Investigation, Automated Customer Service, Other Applications
4) By Industry Type: Banking, Financial Services, And Insurance, Discrete And Process Manufacturing, Healthcare, Retail, Wholesale, Professional And Consumer, Service, Transportation, Media And Entertainment, Others Industries
Read The Full Artificial Intelligence Systems Spending Market Report Here
The Artificial Intelligence Systems Spending Global Market Report 2024 provides an overview of the artificial intelligence systems spendingmarket for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The artificial intelligence systems spending market forecast analyzes artificial intelligence systems spending market size, artificial intelligence systems spending market share, leading competitor and their market positions.
The Table Of Content For The Artificial Intelligence Systems Spending Market Include
1. Artificial Intelligence Systems Spending Market Executive Summary
2. Artificial Intelligence Systems Spending Market Segments
3. Artificial Intelligence Systems Spending Market Size And Template Market Growth Rate
4. Key Artificial Intelligence Systems Spending Market Trends
5. Major Artificial Intelligence Systems Spending Market Drivers
……
25. Key Mergers And Acquisitions In The Artificial Intelligence Systems Spending Market
26. Top Artificial Intelligence Systems Spending Companies
27. Artificial Intelligence Systems Spending Market Opportunities And Strategies
28. Artificial Intelligence Systems Spending Market, Conclusions And Recommendations
29. Appendix
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