Global Artificial Intelligence Products Market Forecast 2024-2033: Estimated Market Size And Growth Rate
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The artificial intelligence products market has shown robust growth, expanding from $2.35 billion in 2023 to $2.53 billion in 2024, reflecting a CAGR of 7.5%. This growth is attributed to increased computing power, proliferation of big data, governmental investments in research and development, and growing adoption of cloud computing. The market is poised for continued strong growth, projected to reach $3.34 billion in 2028, with a CAGR of 7.2%. This expansion is fueled by exponential growth in data generation, integration of AI into business processes, focus on responsible AI practices, and the escalating role of AI in cybersecurity. Noteworthy trends include the widespread embrace of AI in predictive maintenance, application of AI in natural language processing (NLP), emergence of AI-powered virtual assistants and chatbots, and initial integration of AI in predictive analytics platforms.
The artificial intelligence products market is on the brink of significant expansion, propelled by increasing government initiatives worldwide. These initiatives, exemplified by the Pan-Canadian artificial intelligence program, signify governments’ commitment to fostering collaboration among researchers, industry stakeholders, and civil society. With substantial investments, such as Canada’s US$ 443 million commitment, governments aim to drive the integration and commercialization of AI across various sectors, thus fueling the growth of the AI products market.
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What Are The Key Trends That Influence Artificial Intelligence Products Market Share Analysis?
Major companies in the artificial intelligence products market are developing innovative products with advanced technologies like application programming interfaces (APIs) to gain a competitive edge. An API is a software interface that allows developers to integrate automatic speech recognition (ASR) capabilities into their applications or services. For instance, in April 2021, Verint Systems, Inc., a US-based company specializing in enterprise workforce optimization and customer engagement solutions, launched Verint Virtual Assistant (IVA), a low-code Speech-to-Text API solution that transforms conversational data into automated self-service experiences, enabling efficient deployment of chatbots for customer support.
Which Market Players Are Driving Growth In The Artificial Intelligence Products Market?
Major companies operating in the artificial intelligence products market report are Apple Inc., Alphabet Inc., Microsoft Corporation, Tencent Holdings Ltd., Amazon Web Services Inc., Siemens AG, Intel Corporation, International Business Machines Corporation, NVIDIA Corporation, Salesforce Inc., Advanced Micro Devices Inc., Baidu Inc., Zebra Technologies Corp., Autodesk Inc., Arm Holdings plc, Palantir Technologies Inc., Databricks Inc., UiPath, Open AI, Ayasdi AI LLC, AiCure, Enlitic Inc., Clarifai Inc., Sensely Inc., Atomwise Inc.
How Is The Global Artificial Intelligence Products Market Segmented?
The artificial intelligence products market covered in this report is segmented –
1) By Product Type: Computer And GPU Chip Hardware, Cloud Hardware, Other Products
2) By Enterprise Size: Large Enterprise, Small And Medium-Sized Enterprise
3) By Application: Media And Advertising, Healthcare, Automotive And Transportation, Other Applications
Read The Full Artificial Intelligence Products Market Report Here
The Artificial Intelligence Products Global Market Report 2024 provides an overview of the artificial intelligence productsmarket for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The artificial intelligence products market forecast analyzes artificial intelligence products market size, artificial intelligence products market share, leading competitor and their market positions.
The Table Of Content For The Artificial Intelligence Products Market Include
1. Artificial Intelligence Products Market Executive Summary
2. Artificial Intelligence Products Market Segments
3. Artificial Intelligence Products Market Size And Template Market Growth Rate
4. Key Artificial Intelligence Products Market Trends
5. Major Artificial Intelligence Products Market Drivers
……
25. Key Mergers And Acquisitions In The Artificial Intelligence Products Market
26. Top Artificial Intelligence Products Companies
27. Artificial Intelligence Products Market Opportunities And Strategies
28. Artificial Intelligence Products Market, Conclusions And Recommendations
29. Appendix
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