Trajectory and analysis of the global artificial intelligence (AI) market, 2020-2021 and 2022-2027: Accelerating the pace of digital transformation to benefit the demand for AI

DUBLIN–(BUSINESS WIRE)–The “Artificial Intelligence (AI) – Global Market Trajectory and Analysis” report has been added to from ResearchAndMarkets.com offer.

The global Artificial Intelligence (AI) Market, estimated at US$46.9 billion in 2020, is expected to reach a revised size of US$341.4 billion by 2027, growing at a CAGR of 32 .8% over the 2020-2027 analysis period.

Services, one of the segments analyzed in the report, is expected to grow at a CAGR of 32.6% to reach US$142.7 billion by the end of the analysis period.

After an initial analysis of the business implications of the pandemic and induced economic crisis, Software segment growth is readjusted to a revised CAGR of 30.4% for the next 7-year period. This segment currently accounts for a 37.9% share of the global artificial intelligence (AI) market.

The United States accounts for more than 41.2% of the global market size in 2020, while China is expected to grow at a CAGR of 39.1% for the period 2020-2027

The artificial intelligence (AI) market in the United States is estimated at US$19.3 billion in 2020. The country currently accounts for a 41.22% share of the global market. China, the world’s second largest economy, is expected to reach an estimated market size of US$64.7 billion in 2027, growing at a CAGR of 39.1% through 2027.

Other notable GeoMarkets include Japan and Canada, each predicting growth of 27.6% and 29% respectively over the 2020-2027 period. In Europe, Germany is expected to grow at a CAGR of approximately 31.2%, while the rest of the European market (as defined in the study) will reach US$64.7 billion by 2027.

The hardware segment grabs a share of 19.9% ​​in 2020

In the global hardware segment, the United States, Canada, Japan, China and Europe will drive the estimated CAGR of 36.6% for this segment. These regional markets representing a combined market size of US$7.7 billion in 2020 will reach a projected size of US$68.5 billion by the end of the analysis period.

China will remain among the fastest growing markets in this group of regional markets. Led by countries like Australia, India, and South Korea, the Asia-Pacific market is expected to reach US$46.7 billion by 2027.

MARKET TRENDS AND DRIVERS

• Accelerate the pace of digital transformation to take advantage of the demand for AI

• Noteworthy Tech Trends to Watch in the Artificial Intelligence Space

• Machine Learning and AI-Assisted Platforms Personalize Customer Experience in Marketing Applications

• Ranking of business results achieved through the application of AI in marketing

• Businesses will benefit from the application of AI in predictive marketing analytics and demand forecasting

• Growing Role of AI in the Metaverse

• Edge AI hosting to drive growth

• AI-powered analytics and forecasting Aid organizations make profitable decisions

• AI-powered biometric security solutions are gaining momentum

• New and improved ML and AI concepts take center stage

• The convergence of IIoT and AI improves efficiency

• Increase in adoption of AI technology to drive AI chipset market

• The combination of robotics and AI is expected to cause significant disruption in various industries

• AI innovations broaden perspectives

• Blockchain & Artificial Intelligence (AI): A Powerful Combination

• Big Data Trends to Shape the Future of Artificial Intelligence

• AI in the retail market: multi-channel retail and e-commerce driving segment growth

• AI for Competitive Advantage for Retail Organizations

• Online retailers are turning to artificial intelligence to boost their business in the post-COVID-19 era

• AI and Analytics Helping Retailers Survive Economic and Operational Implications of COVID-19

• AI for fashion retail and beauty

• AI for groceries, electronics, home and furniture

• E-commerce attracts strong growth

• Detailed insight into how e-commerce uses AI

• Financial sector: AI and machine learning offer many gains

• Fintech deploys AI to target millennials

• AI in Media and Advertising: Targeting Customers with the Right Marketing Content

• Many possibilities for AI in digital marketing

• AI-Enabled CRM Market: Promising In-Store Growth Opportunities

• Artificial intelligence poised to transform healthcare service delivery

• AI will play an important role in automating and improving clinical outcomes

• AI in the pharmaceutical sector

• COVID-19 is driving new developments and accelerating the adoption of AI in the healthcare industry

• Artificial intelligence has the potential to speed up the detection and treatment of COVID-19

• Increase in Diabetes Prevalence to Drive Adoption of AI in Diabetes Management Market

• Barriers to the adoption of AI in healthcare

• Automotive AI Market: Need to Improve Customer Experience Drives Growth

• Recovering Automotive Demand Boosts Growth Opportunities

• Increased focus on electric vehicles and autonomous vehicles provides the ideal platform to shape future growth

• Automakers focus on integrating AI-powered driver assistance features into vehicles

• AI to improve connectivity, provide infotainment and improve safety in vehicles

• AI for Intelligent Vehicle Insurance Risk Assessment

• Artificial intelligence enters the manufacturing space to transform various aspects

• Industrial AI to Influence Manufacturing in Major Ways

• Industrial IoT, robotics and big data to boost AI implementations

• AI as a service market: avoid having to make huge upfront investments

• AI in the education market will show strong growth

• Education and K-12 Sectors

• Focus on ITS, IAL and chatbots drive market growth

• Agricultural sector: a promising market for AI implementations

• AI Technologies Used in Agricultural Activities – A Review

• AI poised to create smarter farming practices in the post-COVID-19 era

• The food and beverage industry will leverage AI capabilities to solve production problems and meet customer expectations

• Adoption of AI is growing in popularity in modern defense warfare systems

• Energy and utilities: a complex landscape and high risk of malfunctions reinforce the need for AI-based systems

• COVID-19 increases the demand for AI technologies in the oil and gas sector

• AI in the construction sector: the need for cost reduction and safety on construction sites prompts a focus on the use of AI-based solutions

MARKET OVERVIEW

• Artificial intelligence is attracting considerable interest as industries accelerate digital transformation strategies

• An overview of the application of AI in the war against the pandemic

• Machine Learning Benefits Healthcare Organizations

• COVID-19-induced fiscal reluctance dampens spending, but AI enjoys resilient interest in banking

• Retailers rely on AI to stay afloat and embrace the new normal

• Focus on Technology Adoption Drives Implementation of AI in Manufacturing

• Competition

• AI market characterized by intense competition

• Growing focus on AI by major tech companies with huge financial resources

• AI presents exciting opportunities for established and start-up companies

• Competitive Market Presence – Strong/Active/Niche/Trivial for 300 players globally in 2022 (E)

• The funding landscape remains dynamic in the AI ​​technology space

• AI applications and big startups

• Artificial intelligence (AI): a prelude

• Technologies enabling AI

• Market Outlook

• Important factors with implications for the evolution and future of artificial intelligence

• Advances in real-world AI applications drive growth

• Inherent benefits of AI technology to accelerate adoption in various applications

• The banking sector shows an unwavering interest in AI

• AI is reshaping the future of manufacturing

• AI-based services segment grabs major share of global AI market

• Developed markets dominate, Asia-Pacific spearheading future growth

• Deep learning and digital assistive technologies have significant growth potential

• Main challenges encountered in the implementation of AI

• Global brands

• Recent market activity

FOCUS ON SELECT PLAYERS (Total 865 Featured)

• AIBrain, Inc.

• Advanced Micro Devices, Inc.

• Amazon Web Services

• Baidu, Inc.

• Cisco Systems, Inc.

• eGain Corporation

• General electricity company

• Google Inc.

• intel company

• International Business Machines Corporation (IBM)

• Meta (Facebook company is now Meta)

• Micron Technology, Inc.

• Microsoft Corporation

• Japanese Telegraph and Telephone Company

• Nuance Communications, Inc.

• NVIDIA Corporation

• Omron Company

• Oracle Corporation

• Rockwell Automation, Inc.

• Salesforce.com, inc.

• Samsung Electronics Co., Ltd.

• SAP SE

• SAS Institute Inc.

• Siemens AG

For more information on this report, visit https://www.researchandmarkets.com/r/t24rhv

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