Dublin, Aug. 02, 2024 (GLOBE NEWSWIRE) -- The "Global Artificial Intelligence (AI) Market by Offering (Discriminative AI, Generative AI, Hardware, Services), Technology (ML, NLP, Context-aware AI, Computer Vision), Business Function (Marketing & Sales, HR), Vertical and Region - Forecast to 2030" report has been added to ResearchAndMarkets.com's offering.
A comprehensive market analysis forecasts an incredible surge in the artificial intelligence (AI) sector, expecting the market value to ascend from USD 214.6 billion in 2024 to a remarkable USD 1.33 trillion by 2030.
This robust growth, at a compound annual growth rate of 35.7% during the forecasted timeframe, is fueled by significant advancements in deep learning, machine learning technologies, computational power, and extensive database availability, along with a wide-scale adoption of autonomous AI technologies.
Cybersecurity within the artificial intelligence market is anticipated to experience the fastest growth rate across all business functions. The rise in complex cyber threat landscapes necessitates the deployment of sophisticated AI-driven security solutions. This trend is further influenced by the integration of AI in various industries and stringent regulatory compliance requirements. Collectively, these dynamics are expected to steer substantial expansion in the cybersecurity segment, with faster growth rates than other business functionalities.
Machine Learning Dominates the Market
Machine learning stands at the forefront of the technology segment within the AI market, projected to secure the largest share during the projected period. Its widespread application across sectors, coupled with an increase in big data, necessitates advanced algorithms that can derive actionable insights. Continuous enhancements in hardware infrastructure and machine learning algorithms are enabling complex problem-solving capabilities, propelling machine learning to a dominant position in the AI market.
Geographical Insights: Asia Pacific and North America
Asia Pacific region is set to witness the most rapid growth in the AI sector. This progression is driven by the region's accelerated urbanization, industrial advancements, and rising investments in AI innovations, creating a fertile environment for AI market expansion. Featuring a substantial pool of IT talent and burgeoning startup ecosystems, APAC is at the forefront of both innovation and growth in AI.
Concurrently, North America is expected to maintain the largest share of the global AI market. This dominance can be attributed to the concentration of global AI leaders within the region and supported by a sophisticated infrastructure, fervent investment in AI R&D, and favorable government policies. The high demand from key sectors such as healthcare, retail, and automotive further reinforces the substantial integration and growth of AI technologies in North America.
A Look at the Market Dynamics
The report provides a 360-degree analysis of market driving factors, including the growth in the adoption of autonomous AI, the upsurge in deep learning and machine learning technologies, and leaps in computing resources. While opportunities abound, particularly in cloud-based AI and edge AI capabilities, challenges persist in areas related to AI transparency, potential biases, and integration issues. The report assesses the landscape to formulate strategic insights for market leaders and stakeholders, contributing to informed decision-making and strategy planning in this burgeoning field.
Competitive Landscape and Innovation Frontier
An in-depth competitive analysis of the burgeoning market features key players who are steadily shaping the AI landscape with their strategies and offerings. Innovations permeate through the market as breakthroughs in technology and product development catalyze growth, positioning multiple vendors at the vanguard of the Artificial Intelligence revolution. This detailed overview of the artificial intelligence market encompasses offerings, technologies, business functions, verticals, and regional prospects, providing a granular understanding of the forces that sculpt the future of AI and its global impact.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 637 |
| Forecast Period | 2024 - 2030 |
| Estimated Market Value (USD) in 2024 | $214.6 Billion |
| Forecasted Market Value (USD) by 2030 | $1339.1 Billion |
| Compound Annual Growth Rate | 35.7% |
| Regions Covered | Global |
Companies Featured
- Microsoft
- IBM
- Oracle
- Aws
- Intel
- Salesforce
- SAP
- Amd
- Qualcomm
- Cisco
- Meta
- Hpe
- Siemens
- Nvidia
- Baidu
- Sas Institute
- Openai
- C3 AI
- Huawei
- Alibaba Cloud
- Hqe Systems, Inc.
- Appier
- Adept
- H2O.AI
- Spot AI
- Anduril Industries
- Anthropic
- Cohere
- Inbenta
- Character.AI
- Deepl
- Atomwise
- Inflection AI
- Glean
- Moveworks
- Arrow AI
- Observe AI
- Anyscale
- Frame AI
- Ai21 Labs
- Persado
- Uizard
- Synthesia
- Dialpad
- Graphcore
- Shield AI
- Scale AI
- Iris Automation
- Gamaya
- Arthur AI
- Capacity
- Mythic
- Ada
- Mostly AI
- Sentient.Io
- Lumen5
- Aera Technology
- Metropolis Technologies
- Cerebras
- Hailo
- Jasper
- Soundful
- Writesonic
- One AI
For more information about this report visit https://www.researchandmarkets.com/r/2siji
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