Artificial Intelligence Market: Trends, Opportunities and Competitive Analysis [2024-2030]

Artificial Intelligence Market: Trends, Opportunities and Competitive Analysis [2024-2030]

Artificial Intelligence Market Trends and Forecast

The future of the global artificial intelligence market looks attractive with opportunities in the healthcare, security, retail, automotive, manufacturing, and financial technology (fintech) sectors. The global artificial intelligence market is expected to reach an estimated $386.1 billion by 2030 with a CAGR of 29.2% from 2024 to 2030. The major drivers for this market are increasing demand for virtual assistance for easy accessibility of services and growing adoption of cloud-based technology.

Emerging Trends in the Artificial Intelligence Market

Emerging trends, which have a direct impact on the dynamics of the industry, include growing adoption of artificial intelligence in IoT applications and increasing demand for AI-enabled processors.

A total of 106 figures / charts and 89 tables are provided in this 205-page report to help in your business decisions. Sample figures with insights are shown below.

Artificial Intelligence Market by Segment

The study includes trends and forecast for the global artificial intelligence market by end use industry, technology, product and service, and region as follows:

By End Use Industry [$B shipment analysis from 2018 to 2030]:

• Media and Advertising
• Security
• Automotive
• Healthcare
• Retail
• Fintech (Financial Technology)
• Manufacturing
• Others

By Technology [$B shipment analysis from 2018 to 2030]:

• Machine Learning
• Natural Language Processing (NLP)
• Others

By Product and Service [$B shipment analysis from 2018 to 2030]:

• Hardware
• Processor
• Memory
• Network
• Software
• Service

By Region [$B shipment analysis from 2018 to 2030]:

• North America
• United States
• Canada
• Mexico
• Europe
• United Kingdom
• France
• Germany
• Asia Pacific
• China
• Japan
• India
• The Rest of the World

List of Artificial Intelligence Companies

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies artificial intelligence companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the artificial intelligence companies profiled in this report includes.

• Google
• Siemens AG
• Apple Inc.
• Facebook
• Samsung
• Microsoft
• Amazon
• NVIDIA
• NEC Corporation
• Intel Corporation
• IBM
• General Electric

Artificial Intelligence Market Insight

• Lucintel forecasts that the machine learning technology will remain the largest segment, and it is also expected to witness the highest growth over the forecast period due to increasing adoption of this technology in the autonomous applications and growing consumer preference for IoT-enabled devices.
• Media and advertising will remain the largest end use industry segment due to an increasing adoption of customer-centric marketing strategies and increasing use of social platform for advertisements. The healthcare segment is expected to witness the highest growth over the forecast period due to advancements in clinical research and growing demand for electronics-based medical equipment and sensors in the healthcare applications.
• APAC is projected to remain the largest region, and it is also expected to witness the highest growth over the forecast period due to the growing adoption of IoT (internet of things), increasing installation of smart home devices, and growing industrial automation in countries, such as China, India, and Taiwan.

Features of Artificial Intelligence Market

• Market Size Estimates:Artificial intelligence market size estimation in terms of value ($B)
• Trend and Forecast Analysis:Market trends (2018-2023) and forecast (2024-2030) by various segments and regions.
• Segmentation Analysis:Artificial intelligence market size by various segments, such as end use industry, product and service, and technology in terms of value.
• Regional Analysis:Artificial intelligence market breakdown by North America, Europe, Asia Pacific, and the Rest of the World.
• Growth Opportunities:Analysis on growth opportunities in different end use industries, products and services, technologies, and regions for the artificial intelligence market.
• Strategic Analysis:This includes M&A, new product development, and competitive landscape for the artificial intelligence market.
• Analysis of competitive intensity of the industry based on Porter’s Five Forces model.

FAQ

Q1. What is the artificial intelligence market size?

Answer:The global artificial intelligence market is expected to reach an estimated $386.1 billion by 2030.

Q2. What is the growth forecast for artificial intelligence market?

Answer:The artificial intelligence market is expected to grow at a CAGR of 29.2% from 2024 to 2030.

Q3. What are the major drivers influencing the growth of the artificial intelligence market?

Answer: The major drivers for this market are increasing demand for virtual assistance for easy accessibility of services and growing adoption of cloud-based technology.

Q4. What are the major applications or end use industries for artificial iIntelligence?

Answer:Media and advertising and security are the major end use industries for artificial intelligence market.

Q5. What are the emerging trends in artificial intelligence market?

Answer:Emerging trends, which have a direct impact on the dynamics of the industry, include growing adoption of artificial intelligence in IoT applications and increasing demand for AI-enabled processors.

Q6. Who are the key artificial intelligence companies?

Answer:Some of the key artificial intelligence companies are as follows:

• Google
• Siemens AG
• Apple Inc.
• Facebook
• Samsung
• Microsoft
• Amazon
• NVIDIA
• NEC Corporation
• Intel Corporation
• IBM
• General Electric

Q7. Which artificial intelligence technology segment will be the largest in future?

Answer: Lucintel forecasts that the machine learning technology will remain the largest segment, and it is also expected to witness the highest growth over the forecast period due to increasing adoption of this technology in the autonomous applications and growing consumer preference for IoT-enabled devices.

Q8. In artificial intelligence market, which region is expected to be the largest in next 5 years?

Answer:Asia Pacific is expected to remain the largest region and witness the highest growth over next 5 years

Q9. Do we receive customization in this report?

Answer:Yes, Lucintel provides 10% Customization Without any Additional Cost.

This report answers following 11 key questions

Q.1 What are some of the most promising, high-growth opportunities for the global artificial intelligence market by end use industry (media and advertising, security, automotive, healthcare, retail, fintech, manufacturing and others), technology (machine learning, natural learning processing, and others), product and service (hardware, software, and service), and region (North America, Europe, Asia Pacific, and the Rest of the World)?

Q.2 Which segments will grow at a faster pace and why?

Q.3 Which regions will grow at a faster pace and why?

Q.4 What are the key factors affecting market dynamics? What are the drivers and challenges of the market?

Q.5 What are the business risks and threats to the market?

Q.6 What are the emerging trends in this market and reasons behind them?

Q.7 What are some changing demands of customers in the market?

Q.8 What are the new developments in the market? Which companies are leading these developments?

Q.9 Who are the major players in this market? What strategic initiatives are being implemented by key players for business growth?

Q.10 What are some of the competitive products and processes in this area and how big of a threat do they pose for loss of market share via product substitution?

Q.11 What M&A activity did occur in the last five years?

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