According to IMARC Group’s latest report, titled Artificial Intelligence Market: Industry Trends, Share, Size, Growth, Opportunities and Forecast 2022-2027, it provides a comprehensive analysis of the industry that provides insights into the Artificial Intelligence market report.
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The global artificial intelligence market reached US$56.5 billion in 2021. A branch of computer science known as artificial intelligence, or AI, aims to program programmable computers by mimicking the human intellect. Form a graphics processing unit (GPU), application-specific integrated circuits (ASIC), field-programmable gate arrays (FPGA), natural language processing (NLP), machine learning (ML), augmented and virtual reality (AR and VR), and other powerful hardware and software components this system. Devices with built-in artificial intelligence are able to learn from experience, make plans, recognize speech, and solve problems. They reduce the downtime required to complete a task, reduce costs, ensure faster decision making, etc. This supports a wide range of industries including healthcare, manufacturing, automotive, agriculture, retail, marketing, financial services and transportation, and logistics use technologies based on artificial intelligence.
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The artificial intelligence market is mainly driven by the burgeoning information technology (IT) sector and increasing international adoption of cloud-based applications. Additionally, key growth drivers include the increasing digitization of many organizations and the need to analyze vast amounts of data and gain insights into the overall operation. In addition, social media and e-commerce platforms are increasingly using AI-based algorithms, chatbots, price optimization systems and recommendation engines to improve customer experience. Consumer preferences are also shifting in favor of intelligent virtual assistants, which is having a positive impact on the global market. Looking ahead, IMARC Group expects the market to reach $308.5 billion by 2027, at a CAGR of 31.9% over 2022-2027.
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List of Major Companies Covered in This Market Report:
Amazon Web Services Inc. (NASDAQ:AMZN)
Apple Inc (NASDAQ:AAPL)
Cisco Systems Inc (NASDAQ:CSCO)
Facebook Inc (NASDAQ:META)
General Electric Company (NYSE:GE)
Google LLC (Alphabet Inc.) (NASDAQ: GOOGL)
International Business Machines (NYSE:IBM)
Intel Corporation (NASDAQ:INTC)
Micron Technology Inc. (NASDAQ:MU)
Microsoft Corporation (NASDAQ:MSFT)
Nvidia Corporation (NASDAQ:NVDA)
Oracle Corporation (NYSE:ORCL)
Rockwell Automation Inc. (NYSE:ROK)
Samsung Electronics Co.Ltd. (KRX: 005930)
SAP SE (NYSE: SAP)
Siemens AG (OTCMKTS: SIEGY)
Breakdown by type:
Narrow/weak artificial intelligence
General/strong artificial intelligence
Separation by offer:
Separation by technology:
Natural Language Processing
Context Aware Computing
Breakdown by system:
Decision Support Processing
Breakdown by End User Industry:
transportation and logistics
Separation by geography:
North America (USA & Canada)
Europe (Germany, UK, France, Italy, Spain, Russia and others)
Asia Pacific (China, India, Japan, South Korea, Indonesia, Australia and others)
Latin America (Brazil, Mexico)
Middle East & Africa
Key highlights of the report:
Market performance (2016-2021)
Market Outlook (2022-2027)
Porter’s Five Forces Analysis
Market drivers and success factors
Comprehensive mapping of the competitive landscape
If you require specific information that is not currently in the scope of the report, we can provide it as part of the customization.
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