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Artificial Intelligence Market Worth $407.0 Billion By 2027 — Exclusive Report by MarketsandMarkets™

(IT-NEWSWIRE.COM, November 09, 2022 ) Artificial Intelligence Market size is expected to grow at a Compound Annual Growth Rate (CAGR) of 36.2% during the forecast period, to reach USD 407.0 billion by 2027 from USD 86.9 billion in 2022, according to a new report by MarketsandMarkets™. Since its introduction in the market, artificial intelligence technology had quickly acquired acceptance. The worldwide artificial intelligence market is expanding significantly because of the increasing demand for artificial intelligence technologies across numerous industry verticals.

Browse in-depth TOC on “Artificial Intelligence Market”
447 — Tables
65 — Figures
431 — Pages

Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=74851580

As per verticals, the healthcare and life sciences segment to grow at highest CAGR during the forecast period

The artificial intelligence market is segmented on verticals into BFSI, IT/ITES, Telecommunication, Healthcare and Life Sciences, Manufacturing, Retail and eCommerce, Government and Defense, Automotive Transportation and Logistics, Energy and Utilities, and other verticals, such as travel and hospitality, and education. As per verticals, the healthcare and life sciences vertical are expected to grow at the highest CAGR during the forecast period. Healthcare and life sciences, as an industry, is growing at a good pace and is expected to contribute significantly to the globally artificial intelligence market. Applications for artificial intelligence in healthcare include patient data and risk analysis, medical imaging and diagnostics, precision medicine, drug discovery, and much more. Patient data is expanding because of the widespread use of electronic medical records, and the risk analysis market is also expanding because to benefits like risk management and predictive analytics provided by AI systems to payers and healthcare providers.

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Cloud Segment to grow at the highest CAGR during the forecast period

As per deployment mode, cloud Segment to grow at the highest CAGR for the artificial intelligence market during the forecast period. The artificial intelligence market by deployment mode is segmented into cloud and on-premises. Various advantages, such as lower operational expenses, hassle-free deployment, and more, are provided by the cloud deployment approach. With increasing awareness of the advantages of cloud-based solutions, cloud adoption for Machine Learning and Natural Language Processing tools in AI is anticipated to increase. It gives businesses more operational flexibility and makes real-time analytics implementation easier for businesses.

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As per region, North America to have the highest market size during the forecasted period

As per region, North America to have the highest market size during the forecasted period. The Americas AI digital age that has grown in the retail operation is the foundation of AI in industrial developments. All sectors of retail have seen an improvement in speed, productivity, and reliability, in large part due to cutting-edge data and advanced analytical technology that help businesses make decisions based on data. Businesses are now able to compile and assess individual customer data to run promotional campaigns because of cutting-edge AI technology. For this reason, regional retailers are using cutting-edge technology to improve their e-commerce platforms.

Market Players

Some of the major Artificial Intelligence Market vendors are Google Inc. (US), Microsoft Corporation (US), NVIDIA Corporation (US), Intel Corporation (US), Samsung Electronics Co., Ltd. (South Korea), IBM Corporation (US), Amazon Web Services, Inc. (US), Oracle (US), Meta (US), Salesforce (US), Cisco (US), Siemens (US), Huawei (China), SAP SE (Germany), SAS Institute (US), Baidu, Inc. (China), Alibaba Cloud (China), iFLYTEK (China), and Hewlett Packard Enterprise Development LP (US).

Browse Adjacent Markets: Analytics Market Research Reports & Consulting

Related Reports:

Machine Learning Market by Vertical (BFSI, Healthcare and Life Sciences, Retail, Telecommunication, Government and Defense, Manufacturing, Energy and Utilities), Deployment Mode, Service, Organization Size, and Region — Global Forecast to 2022

Operational Technology (OT) Security Market by Offering (Solutions and Services), Deployment Mode, Organization Size (SMEs and Large Enterprises), Verticals (BFSI, Manufacturing, Energy & Power, Oil & Gas) and Region — Global Forecast to 2027

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model — GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, “Knowledge Store” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1–888–600–6441
Email: sales@marketsandmarkets.com
Content Source:https://www.prnewswire.com/news-releases/artificial-intelligence-market-worth-407-0-billion-by-2027--exclusive-report-by-marketsandmarkets-301602240.html

MarketsandMarkets™

Mr. Aashish Mehra

1-888-600-6441

sales@marketsandmarkets.com

Source: EmailWire.Com



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