Abstract
Summary
The artificial intelligence market size to grow from USD 150.2 billion in 2023 to USD 1,345.2 billion by 2030, at a Compound Annual Growth Rate (CAGR) of 36.8% during the forecast period. Businesses harness the power of artificial intelligence (AI) to streamline job processes and aggregate business data effectively. Artificial Intelligence utilizes extensive data to recognize patterns in users' search behaviors, providing them with more pertinent information based on their specific circumstances. With the continuous advancement of AI technology and the growing usage of devices, users can anticipate an increasingly personalized and customizable experience.
Based on technology Machine Learning to register for the largest market size during the forecast period
Based on technology, the artificial intelligence market is segmented into Machine Learning, NLP, Context Awareness, and Computer Vision. Machine learning plays a crucial role in advancing artificial intelligence technology. It leverages statistical models and algorithms to enable computers to automatically learn from data, identify complex patterns, and make data-driven predictions or decisions. Machine learning also empowers AI systems to adapt, improve, and optimize their performance based on available data, leading to intelligent and autonomous behavior. Consequently, during the forecast period, machine learning technology is anticipated to hold the largest market size.
The supply chain management segment to account for the highest CAGR during the forecast period
Based on business function, the artificial intelligence market is segmented into finance, security, human resources, marketing and sales, operations, supply chain management and law. Artificial intelligence technology revolutionizes supply chain management by leveraging advanced machine learning algorithms and predictive analytics. The application of artificial intelligence in supply chain management empowers organizations to make data-driven decisions, automate routine tasks, and optimize resource allocation, ultimately driving cost savings, improved productivity, and competitive advantage in today's complex business landscape. During the forecast period the supply chain management is anticipated to grow at the highest CAGR.
North America to account for the largest market size during the forecast period
North America is estimated to account for the largest share in the artificial intelligence market. The adoption of artificial intelligence (AI) in North America is experiencing significant growth across various industries. Companies are leveraging AI technologies such as machine learning, natural language processing (NLP), and computer vision to enhance operations, improve customer experiences, and drive innovation. The region's robust AI ecosystem, well-established infrastructure, and abundance of skilled talent contribute to its leadership in AI adoption, fostering remarkable technological advancements and substantial economic growth.
Breakdown of primaries
In-depth interviews were conducted with Chief Executive Officers (CEOs), innovation and technology directors, system integrators, and executives from various key organizations operating in the artificial intelligence market.
By Company: Tier I: 35%, Tier II: 45%, and Tier III: 20%
By Designation: C-Level Executives: 35%, D-Level Executives: 25%, and Others: 40%
By Region: North America: 40%, Asia Pacific: 30%, Europe: 20%, Middle East & Africa: 5%, Latin America: 5%
The report includes the study of key players offering artificial intelligence. It profiles major vendors in the artificial intelligence market. The major players in the artificial intelligence market include Google (US), Microsoft (US), IBM (US), Oracle (US), AWS (US), Intel (US), Salesforce (US), SAP (Germany), Cisco (US), Meta (US), HPE (US), Siemens (Germany), Huawei (China), NVIDIA (US), Baidu (China), SAS Institute (US), OpenAI (US), H2O.ai (US), iFLYTEK (China), Alibaba Cloud (China), General Vision (US), Darktrace (UK), Blackberry Limited (Canada), DiDi Global (China), Face++ (China), Inbenta (US), Anju Software (US), Butterfly Network (US), Atomwise (US), AIBrain (US), SK Hynix (South Korea), Progress (US), PrecisionHawk (US), AgEagle Aerial System (US), Neurala (US), Twitter (US), Aurea Software (US), Persado (US), 8x8 (US), Appier (Taiwan), GumGum (US), IPRO (US), Graphcore (UK), Preferred Networks (Japan), Applied Brain Research (Canada), Pilot AI (US), Iris Automation (US), Gamaya (Switzerland), ec2ce (Spain), Descartes Labs (US), Mythic (US), Ada (Canada), Mostly AI (Austria), Sentient.io (Singapore), Lumen5 (Canada), AI Superior (Germany), Fosfor (India), Intrinsic (US), Jasper (US), Soundful (US), Writesonic (US), One AI (Israel).
Research Coverage
The market study covers the artificial intelligence market across segments. It aims at estimating the market size and the growth potential of this market across different segments, such as offering, technology, business function, vertical, and region. It includes an in-depth competitive analysis of the key players in the market, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.
Key Benefits of Buying the Report
The report would provide the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall artificial intelligence market and its subsegments. It would help stakeholders understand the competitive landscape and gain more insights better to position their business and plan suitable go-to-market strategies. It also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.
The report provides insights on the following pointers:
• Analysis of key drivers (Growth in the adoption of autonomous artificial intelligence, Rising advancement and innovations in AI technology, Rising advancement in deep learning and growth of data based AI), restraints (Shortage of skilled AI professionals, Issues related with data availability and quality), opportunities (Rapid growth in the digital data form various sources, Rising investment in AI research and development by businesses and government), and challenges (Data privacy and security concerns, Concerns related to inaccurately and bias generated output) influencing the growth of the AI market
• Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product & service launches in the AI market.
• Market Development: Comprehensive information about lucrative markets – the report analyses the AI market across varied regions
• Market Diversification: Exhaustive information about new products & services, untapped geographies, recent developments, and investments in AI market strategies; the report also helps stakeholders understand the pulse of the AI market and provides them with information on key market drivers, restraints, challenges, and opportunities
• Competitive Assessment: In-depth assessment of market shares, growth strategies and service offerings of leading players such as Google (US), Microsoft (US), IBM (US), Oracle (US), AWS (US), Intel (US), Salesforce (US), and SAP (Germany), among others in the AI market.
Table of Contents
1 INTRODUCTION 71
1.1 STUDY OBJECTIVES 71
1.2 MARKET DEFINITION 71
1.2.1 INCLUSIONS & EXCLUSIONS 72
1.3 MARKET SCOPE 73
1.3.1 MARKET SEGMENTATION 73
1.3.2 REGIONS COVERED 75
1.3.3 YEARS CONSIDERED 75
1.4 CURRENCY CONSIDERED 76
1.5 STAKEHOLDERS 76
1.6 SUMMARY OF CHANGES 76
1.6.1 IMPACT OF RECESSION 77
2 RESEARCH METHODOLOGY 78
2.1 RESEARCH DATA 78
2.1.1 SECONDARY DATA 79
2.1.2 PRIMARY DATA 79
- 2.1.2.1 Breakup of primary profiles 80
- 2.1.2.2 Key industry insights 80
2.2 DATA TRIANGULATION 81
2.3 MARKET SIZE ESTIMATION 82
2.3.1 TOP-DOWN APPROACH 82
2.3.2 BOTTOM-UP APPROACH 83
2.4 MARKET FORECAST 87
2.5 ASSUMPTIONS 88
2.6 LIMITATIONS 90
2.7 IMPLICATION OF RECESSION ON GLOBAL ARTIFICIAL INTELLIGENCE MARKET 90
3 EXECUTIVE SUMMARY 91
4 PREMIUM INSIGHTS 99
4.1 ATTRACTIVE OPPORTUNITIES FOR ARTIFICIAL INTELLIGENCE MARKET PLAYERS 99
4.2 OVERVIEW OF RECESSION IN GLOBAL ARTIFICIAL INTELLIGENCE MARKET 100
4.3 ARTIFICIAL INTELLIGENCE MARKET, BY KEY BUSINESS FUNCTION 100
4.4 ARTIFICIAL INTELLIGENCE MARKET, BY KEY OFFERING AND VERTICAL 101
4.5 ARTIFICIAL INTELLIGENCE MARKET, BY REGION 101
5 MARKET OVERVIEW AND INDUSTRY TRENDS 102
5.1 INTRODUCTION 102
5.2 MARKET DYNAMICS 102
5.2.1 DRIVERS 103
- 5.2.1.1 Growth in adoption of autonomous artificial intelligence 103
- 5.2.1.2 Rise in technological advancements and innovations 103
- 5.2.1.3 Advancements in deep learning and growth of data-based artificial intelligence 104
5.2.2 RESTRAINTS 104
- 5.2.2.1 Shortage of skilled artificial intelligence professionals 104
- 5.2.2.2 Issues related to data availability and quality 105
5.2.3 OPPORTUNITIES 105
- 5.2.3.1 Rapid growth in digital data from various sources 105
- 5.2.3.2 Rise in investment in research & development by businesses and governments 105
5.2.4 CHALLENGES 106
- 5.2.4.1 Data privacy and security concerns 106
- 5.2.4.2 Concerns related to bias and inaccurately generated output 106
5.3 ETHICS AND IMPLICATIONS OF ARTIFICIAL INTELLIGENCE DEVELOPMENT 107
5.3.1 BIAS AND FAIRNESS 107
5.3.2 ACCOUNTABILITY AND TRUST 107
5.3.3 IMPACT ON SOCIAL DYNAMICS 107
5.3.4 PRIVACY AND SECURITY 108
5.3.5 TRANSPARENCY AND EXPLAINABILITY 108
5.4 INVESTMENTS IN ARTIFICIAL INTELLIGENCE 108
5.5 ACQUISITIONS IN ARTIFICIAL INTELLIGENCE MARKET 111
5.6 EVOLUTION OF ARTIFICIAL INTELLIGENCE TECHNOLOGY 113
5.6.1 MILESTONES OF ARTIFICIAL INTELLIGENCE 114
5.6.2 AUTONOMY LEVELS OF ARTIFICIAL INTELLIGENCE 116
- 5.6.2.1 Weak artificial intelligence/Artificial Narrow Intelligence (ANI) 116
- 5.6.2.2 Strong artificial intelligence 116
- 5.6.2.2.1 Artificial General Intelligence (AGI) 116
- 5.6.2.2.2 Artificial Super Intelligence (ASI) 117
5.7 ARTIFICIAL INTELLIGENCE MARKET ECOSYSTEM 117
5.8 CASE STUDY ANALYSIS 125
5.8.1 RETAIL & ECOMMERCE 125
- 5.8.1.1 ASOS used Microsoft Azure’s ML service to reduce time-to-market for recommendations model 125
- 5.8.1.2 AWS’ technologies helped Artfinder offer recommendations to customers 125
- 5.8.1.3 Formosa Optical approached Appier to optimize customer satisfaction and unblock retail opportunity 126
5.8.2 HEALTHCARE & LIFE SCIENCES 126
- 5.8.2.1 Tamil Nadu eGovernance Agency (TNeGA) used an AI-based mobile app to enable screening of people for cataract 126
- 5.8.2.2 Inspire used ML to connect millions of patients and caregivers on AWS 127
- 5.8.2.3 UCSF Health leverages H2O document artificial intelligence to automate workflows in healthcare 127
5.8.3 BFSI 128
- 5.8.3.1 Humana used Watson Assistant to address customer queries 128
- 5.8.3.2 PayPal collaborated with H2O.ai to improve fraud detection accuracy and decrease its time 128
- 5.8.3.3 Vanguard Institutional utilized Persado to scale its personalization efforts for customer messages 129
5.8.4 AGRICULTURE 129
- 5.8.4.1 Biochemical company built digital solution to deliver accurate product recommendations using artificial intelligence 129
- 5.8.4.2 Agrochemical company used precision farming solutions to predict mildew disease in crops 130
5.8.5 MANUFACTURING 130
- 5.8.5.1 Kia Motors America relied on artificial intelligence solutions from SAS to improve its customer satisfaction 130
- 5.8.5.2 US-based Fortune 500 home appliances corporation approached Fosfor to improve its warranty and after-sales management 131
5.8.6 CONSTRUCTION 131
- 5.8.6.1 General Contractor leveraged ALICE on Silicon Valley Project to save millions 131
5.8.7 EDUCATION 132
- 5.8.7.1 NC State University leveraged Lumen5 to boost its online presence 132
5.8.8 ENERGY & UTILITIES 133
- 5.8.8.1 Kore.ai enabled energy company to enhance customer service with conversational AI 133
5.8.9 AUTOMOTIVE 133
- 5.8.9.1 Zoox approached AWS to boost development of self-driving cars 133
5.8.10 TELECOM 134
- 5.8.10.1 Vodafone utilized Persado’s Motivation AI to develop creative campaigns through generative AI 134
5.8.11 IT/ITES 134
- 5.8.11.1 Twilio leveraged Aisera’s generative AI technology and service to scale IT operations 134
5.9 TECHNOLOGY ANALYSIS 135
5.9.1 KEY TECHNOLOGIES 135
- 5.9.1.1 Generative AI 135
- 5.9.1.2 Conversational AI 135
- 5.9.1.3 Autonomous AI & Autonomous Agent 136
- 5.9.1.4 AutoML 136
- 5.9.1.5 Causal AI 136
- 5.9.1.6 Decision Intelligence 137
- 5.9.1.7 MLOps 137
- 5.9.1.8 Embedded AI 137
- 5.9.1.9 Composite AI 138
5.9.2 ADJACENT TECHNOLOGIES 138
- 5.9.2.1 Predictive Analytics 138
- 5.9.2.2 IoT 138
- 5.9.2.3 Big Data 139
- 5.9.2.4 Augmented Reality 139
- 5.9.2.5 Virtual Reality 139
- 5.9.2.6 Sensors and Robotics 140
5.10 VALUE CHAIN ANALYSIS 140
5.11 PORTER’S FIVE FORCES ANALYSIS 142
5.11.1 THREAT OF NEW ENTRANTS 143
5.11.2 THREAT OF SUBSTITUTES 143
5.11.3 BARGAINING POWER OF SUPPLIERS 143
5.11.4 BARGAINING POWER OF BUYERS 143
5.11.5 INTENSITY OF COMPETITIVE RIVALRY 144
5.12 PRICING MODEL ANALYSIS 144
5.12.1 INDICATIVE PRICING OF KEY OFFERINGS 144
5.12.2 ARTIFICIAL INTELLIGENCE: AVERAGE SELLING PRICES 146
5.13 PATENT ANALYSIS 146
5.13.1 METHODOLOGY 146
5.13.2 DOCUMENT TYPE 147
5.13.3 INNOVATION AND PATENT APPLICATIONS 147
- 5.13.3.1 Top applicants 148
5.14 KEY CONFERENCES AND EVENTS 152
5.15 TARIFF AND REGULATORY LANDSCAPE 155
5.15.1 REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 155
5.15.2 NORTH AMERICA 159
- 5.15.2.1 US 159
- 5.15.2.1.1 California Consumer Privacy Act (CCPA) 159
- 5.15.2.1.2 Health Insurance Portability and Accountability Act (HIPAA) 159
- 5.15.2.1.3 Artificial Intelligence Risk Management Framework 1.0 (RMF) 159
- 5.15.2.2 Canada 159
- 5.15.2.2.1 Public Safety Canada Regulation 159
- 5.15.2.1 US 159
5.15.3 EUROPE 159
- 5.15.3.1 General Data Protection Regulation (GDPR) 159
- 5.15.3.2 EU Regulatory Framework for AI 160
5.15.4 ASIA PACIFIC 160
- 5.15.4.1 South Korea 160
- 5.15.4.1.1 Personal Information Protection Act (PIPA) 160
- 5.15.4.2 China 160
- 5.15.4.3 India 160
- 5.15.4.1 South Korea 160
5.15.5 MIDDLE EAST & AFRICA 160
- 5.15.5.1 UAE 161
- 5.15.5.1.1 UAE AI Regulations 161
- 5.15.5.2 KSA 161
- 5.15.5.2.1 Saudi Arabia National AI Strategy 161
- 5.15.5.3 Bahrain 161
- 5.15.5.3.1 Bahrain AI Ethics Framework 161
- 5.15.5.1 UAE 161
5.15.6 LATIN AMERICA 161
- 5.15.6.1 Brazil 161
- 5.15.6.1.1 Brazil’s General Data Protection Law 161
- 5.15.6.2 Mexico 161
- 5.15.6.2.1 Mexico’s National Artificial Intelligence Strategy 161
- 5.15.6.1 Brazil 161
5.16 KEY STAKEHOLDERS AND BUYING CRITERIA 162
5.16.1 KEY STAKEHOLDERS IN BUYING PROCESS 162
5.16.2 BUYING CRITERIA 163
5.17 TRENDS/DISRUPTIONS IMPACTING BUYERS/CLIENTS IN ARTIFICIAL INTELLIGENCE MARKET 164
5.18 BEST PRACTICES IN ARTIFICIAL INTELLIGENCE MARKET 164
5.19 TECHNOLOGY ROADMAP 165
5.20 BUSINESS MODELS 167
6 ARTIFICIAL INTELLIGENCE MARKET, BY OFFERING 169
6.1 INTRODUCTION 170
6.1.1 OFFERING: ARTIFICIAL INTELLIGENCE MARKET DRIVERS 170
6.2 HARDWARE 172
6.2.1 RISE IN COMPETITION AMONG BUSINESSES 172
6.2.2 ACCELERATORS 174
- 6.2.2.1 Rise in demand for more optimized processing in artificial intelligence applications 174
6.2.3 PROCESSORS 175
- 6.2.3.1 Technological advancements pave way for smaller, more powerful, and more efficient chips 175
- 6.2.3.2 Microprocessing units 177
- 6.2.3.3 Graphics processing units 178
- 6.2.3.4 Field programmable gate arrays 179
- 6.2.3.5 Other processors 180
6.2.4 MEMORY 181
- 6.2.4.1 Advancements in specialized solutions in AI 181
6.2.5 NETWORK 182
- 6.2.5.1 Need to offer seamless communication between various components within network 182
6.3 SOFTWARE 183
6.3.1 ARTIFICIAL INTELLIGENCE SOFTWARE SYNTHESIZES DATA FOR COMPUTERS TO PERFORM COMPLEX OPERATIONS 183
6.3.2 SOFTWARE: ARTIFICIAL INTELLIGENCE MARKET, BY TYPE 185
- 6.3.2.1 Pre-trained models 185
- 6.3.2.2 Customizable AI 186
- 6.3.2.2.1 Tailoring artificial intelligence models for specific requirements and enhanced performance 186
- 6.3.2.3 Edge AI 187
- 6.3.2.3.1 Need to deploy artificial intelligence algorithms directly on devices 187
- 6.3.2.4 AI marketplaces 188
- 6.3.2.4.1 Need to access and leverage wide range of artificial intelligence resources 188
6.3.3 SOFTWARE: ARTIFICIAL INTELLIGENCE MARKET, BY DEPLOYMENT 189
- 6.3.3.1 On-premises 191
- 6.3.3.1.1 Need for stringent data privacy and security policies 191
- 6.3.3.2 Cloud 192
- 6.3.3.2.1 Ability to offer flexibility in terms of resource allocation 192
- 6.3.3.1 On-premises 191
6.4 SERVICES 193
6.4.1 COMPLEX ALGORITHMS OF TECHNOLOGIES PROVIDING ONLINE AND OFFLINE SUPPORT SERVICES TO ARTIFICIAL INTELLIGENCE VENDORS 193
6.4.2 PROFESSIONAL SERVICES 195
- 6.4.2.1 Greater need for comprehensive support for deploying power of artificial solutions 195
- 6.4.2.1.1 Consulting services 197
- 6.4.2.1.1.1 Training & education 198
- 6.4.2.1.1.2 Designing & testing 198
- 6.4.2.1.2 Deployment & integration 198
- 6.4.2.1.3 Support & maintenance 199
- 6.4.2.1.1 Consulting services 197
- 6.4.2.1 Greater need for comprehensive support for deploying power of artificial solutions 195
6.4.3 MANAGED SERVICES 200
- 6.4.3.1 Ensuring seamless artificial intelligence infrastructure 200
7 ARTIFICIAL INTELLIGENCE MARKET, BY TECHNOLOGY 202
7.1 INTRODUCTION 203
7.1.1 TECHNOLOGY: ARTIFICIAL INTELLIGENCE MARKET DRIVERS 203
7.2 MACHINE LEARNING 204
7.2.1 RAPID GROWTH IN COMPUTATIONAL CAPABILITIES 204
7.2.2 DEEP LEARNING 206
- 7.2.2.1 Convolutional Neural Networks (CNN) 207
- 7.2.2.2 Recurrent Neural Networks (RNN) 208
- 7.2.2.2.1 Generative Adversarial Networks (GAN) 208
- 7.2.2.2.2 Transformers 208
- 7.2.2.2.2.1 GPT 1 209
- 7.2.2.2.2.2 GPT 2 209
- 7.2.2.2.2.3 GPT 3 209
- 7.2.2.2.2.4 GPT 4 209
- 7.2.2.2.2.5 Large Language Model (LLM) 210
7.2.3 SUPERVISED LEARNING 210
7.2.4 UNSUPERVISED LEARNING 211
7.2.5 REINFORCEMENT LEARNING 212
7.3 NATURAL LANGUAGE PROCESSING 213
7.3.1 NEED TO PROCESS VAST AMOUNTS OF VOICE AND TEXT DATA FROM VARIOUS SOURCES 213
- 7.3.1.1 Natural Language Understanding (NLU) 215
- 7.3.1.2 Natural Language Generation (NLG) 215
7.4 CONTEXT AWARENESS 216
7.4.1 HIGHER NEED TO CREATE PERSONALIZED USER EXPERIENCE AND ENHANCE DECISION-MAKING 216
7.5 COMPUTER VISION 217
7.5.1 GROWTH IN APPLICATION OF COMPUTER VISION TECHNOLOGY ACROSS VARIOUS VERTICALS 217
8 ARTIFICIAL INTELLIGENCE MARKET, BY BUSINESS FUNCTION 219
8.1 INTRODUCTION 220
8.1.1 BUSINESS FUNCTION: ARTIFICIAL INTELLIGENCE MARKET DRIVERS 220
8.2 ARTIFICIAL INTELLIGENCE: ENTERPRISE USE CASES 222
8.3 FINANCE 222
8.3.1 ABILITY TO PROVIDE REAL-TIME ANALYSIS OF CUSTOMER DEMOGRAPHICS 222
8.3.2 AI IN ACCOUNTING 223
8.3.3 AI IN PAYROLL 223
8.3.4 AI IN FINANCIAL PLANNING & ANALYSIS 224
8.3.5 OTHER FINANCE FUNCTIONS 224
8.4 SECURITY 224
8.4.1 ENSURING CONFIDENTIALITY OF CRITICAL BUSINESS DATA WITH RAPID ADOPTION OF ARTIFICIAL INTELLIGENCE 224
8.4.2 IDENTITY & ACCESS MANAGEMENT 225
8.4.3 RISK & COMPLIANCE MANAGEMENT 225
8.4.4 ENCRYPTION 226
8.4.5 DATA LOSS PREVENTION 226
8.4.6 UNIFIED THREAT MANAGEMENT 226
8.4.7 ANTIVIRUS/ANTIMALWARE 227
8.4.8 INTRUSION DETECTION/PREVENTION SYSTEMS 227
8.4.9 OTHER SECURITY FUNCTIONS 227
8.5 HUMAN RESOURCES 228
8.5.1 NEED TO OFFER PERSONALIZED TRAINING RECOMMENDATIONS BASED ON INDIVIDUAL SKILL GAPS 228
8.5.2 VIRTUAL ASSISTANT 229
8.5.3 APPLICANT TRACKING & ASSESSMENT 229
8.5.4 PERSONALIZED LEARNING & DEVELOPMENT 229
8.5.5 HR ANALYTICS 230
8.5.6 RECOMMENDATION ENGINE 230
8.5.7 SENTIMENT ANALYSIS 230
8.5.8 OTHER HUMAN RESOURCE FUNCTIONS 231
8.6 LAW 231
8.6.1 PROVIDING EFFICIENT AND INNOVATIVE LEGAL ADVICE ON TECHNOLOGIES 231
8.6.2 EDISCOVERY 232
8.6.3 LEGAL RESEARCH 232
8.6.4 CONTRACT ANALYSIS 233
8.6.5 CASE PREDICTION 233
8.6.6 COMPLIANCE 233
8.6.7 OTHER LAW FUNCTIONS 233
8.7 MARKETING & SALES 234
8.7.1 NEED TO FORECAST CUSTOMER PREFERENCES AND BEHAVIOR 234
8.7.2 SOCIAL MEDIA ADVERTISING 235
8.7.3 SEARCH ADVERTISING 235
8.7.4 DYNAMIC PRICING 235
8.7.5 VIRTUAL ASSISTANT 235
8.7.6 CONTENT CURATION 236
8.7.7 SALES & MARKETING AUTOMATION 236
8.7.8 OPTIMIZING SALES & MARKETING STRATEGIES 236
8.7.9 OTHER MARKETING & SALES FUNCTIONS 236
8.8 OPERATIONS 237
8.8.1 ABILITY TO ENHANCE EFFICIENCY AND OPTIMIZE RESOURCE UTILIZATION 237
8.8.2 PROJECT MANAGEMENT 238
8.8.3 PROCESS AUTOMATION 238
8.8.4 INTELLIGENT DOCUMENT PROCESSING 238
8.8.5 RESOURCE OPTIMIZATION 238
8.8.6 PROCESS MONITORING & CONTROL 239
8.8.7 OTHER OPERATIONAL FUNCTIONS 239
8.9 SUPPLY CHAIN MANAGEMENT 239
8.9.1 DEMAND FROM BUSINESSES TO ACHIEVE END-TO-END VISIBILITY AND OPTIMIZE PROCESSES 239
8.9.2 SUPPLY CHAIN VISIBILITY 240
8.9.3 SUPPLIER MANAGEMENT 241
8.9.4 WAREHOUSE MANAGEMENT 241
8.9.5 INVENTORY OPTIMIZATION 241
8.9.6 DEMAND FORECASTING 241
8.9.7 OTHERS SUPPLY MANAGEMENT FUNCTIONS 242
9 ARTIFICIAL INTELLIGENCE MARKET, BY VERTICAL 243
9.1 INTRODUCTION 244
9.1.1 VERTICAL: ARTIFICIAL INTELLIGENCE MARKET DRIVERS 244
9.2 BFSI 246
9.2.1 RAPID ADOPTION OF ADVANCED ALGORITHMS AND DATA ANALYSIS 246
9.2.2 BFSI: ARTIFICIAL INTELLIGENCE MARKET, BY APPLICATION 247
9.2.3 FRAUD DETECTION & PREVENTION 248
9.2.4 RISK ASSESSMENT & MANAGEMENT 248
9.2.5 ALGORITHMIC TRADING 248
9.2.6 CREDIT SCORING & UNDERWRITING 248
9.2.7 CUSTOMER SERVICE AUTOMATION 249
9.2.8 PERSONALIZED FINANCIAL RECOMMENDATION 249
9.2.9 INVESTMENT PORTFOLIO MANAGEMENT 249
9.2.10 REGULATORY COMPLIANCE MONITORING 249
9.2.11 OTHER BFSI APPLICATIONS 250
9.3 RETAIL & ECOMMERCE 250
9.3.1 DEMAND FOR PERSONALIZED SHOPPING EXPERIENCE AND ENHANCE CUSTOMER SATISFACTION 250
9.3.2 RETAIL & ECOMMERCE: ARTIFICIAL INTELLIGENCE MARKET, BY APPLICATION 251
9.3.3 PERSONALIZED PRODUCT RECOMMENDATION 252
9.3.4 CUSTOMER RELATIONSHIP MANAGEMENT 252
9.3.5 VISUAL SEARCH 253
9.3.6 VIRTUAL CUSTOMER ASSISTANT 253
9.3.7 PRICE OPTIMIZATION 253
9.3.8 PAYMENT SERVICE MANAGEMENT 253
9.3.9 SUPPLY CHAIN MANAGEMENT & DEMAND PLANNING 254
9.3.10 VIRTUAL STORES 254
9.3.11 OTHER RETAIL & ECOMMERCE APPLICATIONS 254
9.4 AUTOMOTIVE, TRANSPORTATION, AND LOGISTICS 254
9.4.1 HIGHER DEMAND FOR ENHANCED EFFICIENCY 254
9.4.2 AUTOMOTIVE, TRANSPORTATION, AND LOGISTICS: ARTIFICIAL INTELLIGENCE MARKET, BY APPLICATION 255
9.4.3 SEMI-AUTONOMOUS & AUTONOMOUS VEHICLES 257
9.4.4 ROUTE OPTIMIZATION 257
9.4.5 INTELLIGENT TRAFFIC MANAGEMENT 257
9.4.6 DRIVER ASSISTANCE SYSTEM 257
9.4.7 SMART LOGISTICS & WAREHOUSING 258
9.4.8 SUPPLY CHAIN VISIBILITY & TRACKING 258
9.4.9 FLEET MANAGEMENT 258
9.4.10 VEHICLE DIAGNOSTICS AND TELEMATICS 258
9.4.11 TRAFFIC PATTERN ANALYSIS 259
9.4.12 OTHER AUTOMOTIVE, TRANSPORTATION, AND LOGISTICS APPLICATIONS 259
9.5 GOVERNMENT & DEFENSE 259
9.5.1 INITIATIVES TAKEN BY GOVERNMENTS TO STRENGTHEN NATIONAL SECURITY 259
9.5.2 GOVERNMENT & DEFENSE: ARTIFICIAL INTELLIGENCE MARKET, BY APPLICATION 260
9.5.3 SMART TICKETING 262
9.5.4 AUTONOMOUS SURVEILLANCE & MONITORING SYSTEMS 262
9.5.5 LAW ENFORCEMENT 262
9.5.6 INTELLIGENCE ANALYSIS & DATA PROCESSING 262
9.5.7 BORDER SECURITY & SURVEILLANCE 263
9.5.8 DISASTER RESPONSE & DISCOVERY ASSISTANCE 263
9.5.9 UNMANNED UNDERWATER AND AERIAL VEHICLES 263
9.5.10 EGOVERNANCE & DIGITAL CITY SERVICES 264
9.5.11 OTHER GOVERNMENT & DEFENSE APPLICATIONS 264
9.6 HEALTHCARE & LIFESCIENCES 264
9.6.1 BURGEONING NEED TO ENHANCE HEALTHCARE OUTCOMES 264
9.6.2 HEALTHCARE & LIFE SCIENCES: ARTIFICIAL INTELLIGENCE MARKET, BY APPLICATION 265
9.6.3 PATIENT DATA & RISK ANALYSIS 267
9.6.4 LIFESTYLE MANAGEMENT & MONITORING AND WEARABLES 267
9.6.5 PRECISION MEDICINE 267
9.6.6 INPATIENT CARE & HOSPITAL MANAGEMENT 267
9.6.7 MEDICAL IMAGING & DIAGNOSTICS 268
9.6.8 DRUG DISCOVERY 268
9.6.9 ROBOTICS SURGERY & ASSISTANCE 268
9.6.10 MEDICAL RESEARCH 269
9.6.11 OTHER HEALTHCARE & LIFE SCIENCE APPLICATIONS 269
9.7 TELECOM 269
9.7.1 OPTIMIZED NETWORK PERFORMANCE AND PREVENTING NETWORK OUTAGES 269
9.7.2 TELECOM: ARTIFICIAL INTELLIGENCE MARKET, BY APPLICATION 270
9.7.3 NETWORK OPTIMIZATION 272
9.7.4 NETWORK SECURITY 272
9.7.5 CUSTOMER SERVICE & SUPPORT 272
9.7.6 NETWORK ANALYTICS 272
9.7.7 INTELLIGENT CALL ROUTING 273
9.7.8 NETWORK FAULT PREDICTION 273
9.7.9 VIRTUAL NETWORK ASSISTANT 273
9.7.10 VOICE & SPEECH RECOGNITION 273
9.7.11 OTHER TELECOM APPLICATIONS 274
9.8 ENERGY & UTILITIES 274
9.8.1 EFFICIENT ENERGY UTILIZATION AND COST SAVINGS 274
9.8.2 ENERGY & UTILITIES: ARTIFICIAL INTELLIGENCE MARKET, BY APPLICATION 275
9.8.3 ENERGY DEMAND FORECASTING 276
9.8.4 GRID OPTIMIZATION & MANAGEMENT 276
9.8.5 ENERGY CONSUMPTION ANALYTICS 277
9.8.6 SMART METERING & ENERGY DATA MANAGEMENT 277
9.8.7 ENERGY STORAGE OPTIMIZATION 277
9.8.8 REAL-TIME ENERGY MONITORING & CONTROL 277
9.8.9 POWER QUALITY MONITORING & MANAGEMENT 278
9.8.10 ENERGY TRADING & MARKETING FORECASTING 278
9.8.11 INTELLIGENT ENERGY MANAGEMENT SYSTEMS 278
9.8.12 OTHER ENERGY & UTILITY APPLICATIONS 278
9.9 MANUFACTURING 279
9.9.1 ADOPTION OF INTELLIGENT SYSTEMS TO AUTOMATE AND OPTIMIZE OPERATIONS 279
9.9.2 MANUFACTURING: ARTIFICIAL INTELLIGENCE MARKET, BY APPLICATION 280
9.9.3 MATERIAL MOVEMENT MANAGEMENT 281
9.9.4 PREDICTIVE MAINTENANCE & MACHINERY INSPECTION 281
9.9.5 PRODUCTION PLANNING 281
9.9.6 QUALITY CONTROL 281
9.9.7 PRODUCTION LINE OPTIMIZATION 282
9.9.8 INTELLIGENT INVENTORY MANAGEMENT 282
9.9.9 AUTONOMOUS ROBOTICS 282
9.9.10 OTHERS MANUFACTURING APPLICATIONS 282
9.10 AGRICULTURE 283
9.10.1 INCREASE IN POTENTIAL TO MITIGATE ENVIRONMENTAL IMPACT 283
9.10.2 AGRICULTURE: ARTIFICIAL INTELLIGENCE MARKET, BY APPLICATION 284
9.10.3 CROP MONITORING & YIELD PREDICTION 285
9.10.4 PRECISION FARMING 286
9.10.5 SOIL ANALYSIS & NUTRIENT MANAGEMENT 286
9.10.6 PEST & DISEASE DETECTION 286
9.10.7 IRRIGATION OPTIMIZATION & WATER MANAGEMENT 287
9.10.8 AUTOMATED HARVESTING & SORTING 287
9.10.9 WEED DETECTION & MANAGEMENT 287
9.10.10 WEATHER & CLIMATE MONITORING 287
9.10.11 LIVESTOCK MONITORING & HEALTH MANAGEMENT 288
9.10.12 OTHER AGRICULTURAL APPLICATIONS 288
9.11 IT/ITES 288
9.11.1 RISE IN OPPORTUNITIES TO ENHANCE CUSTOMER EXPERIENCES AND DRIVE COMPETITIVE ADVANTAGE 288
9.11.2 IT/ITES: ARTIFICIAL INTELLIGENCE MARKET, BY APPLICATION 289
9.11.3 AUTOMATED CODE GENERATION & OPTIMIZATION 291
9.11.4 AUTOMATED IT ASSET MANAGEMENT 291
9.11.5 IT TICKETING & SUPPORT AUTOMATION 291
9.11.6 INTELLIGENT DATA BACKUP & RECOVERY 291
9.11.7 IT SERVICE MANAGEMENT AUTOMATION 292
9.11.8 AUTOMATED SOFTWARE TESTING & QUALITY ASSURANCE 292
9.11.9 OTHER IT/ITES APPLICATIONS 292
9.12 MEDIA & ENTERTAINMENT 293
9.12.1 RISE IN NEED TO UNDERSTAND AND CATER TO INDIVIDUAL PREFERENCES AND BEHAVIORS 293
9.12.2 MEDIA & ENTERTAINMENT: ARTIFICIAL INTELLIGENCE MARKET, BY APPLICATION 294
9.12.3 CONTENT RECOMMENDATION SYSTEMS 295
9.12.4 CONTENT CREATION & GENERATION 295
9.12.5 CONTENT COPYRIGHT PROTECTION 296
9.12.6 AUDIENCE ANALYTICS AND SEGMENTATION 296
9.12.7 PERSONALIZED ADVERTISING 296
9.12.8 OTHER MEDIA & ENTERTAINMENT APPLICATIONS 296
9.13 OTHER VERTICALS 297
10 ARTIFICIAL INTELLIGENCE MARKET, BY REGION 299
10.1 INTRODUCTION 300
10.2 NORTH AMERICA 302
10.2.1 NORTH AMERICA: ARTIFICIAL INTELLIGENCE MARKET DRIVERS 302
10.2.2 NORTH AMERICA: RECESSION IMPACT 302
10.2.3 US 323
- 10.2.3.1 Growth initiatives by government and businesses 323
10.2.4 CANADA 326
- 10.2.4.1 Rise in adoption of technologies for research and innovation 326
10.3 EUROPE 328
10.3.1 EUROPE: ARTIFICIAL INTELLIGENCE MARKET DRIVERS 329
10.3.2 EUROPE: RECESSION IMPACT 329
10.3.3 UK 349
- 10.3.3.1 Continuous investments and initiatives by government 349
10.3.4 GERMANY 353
- 10.3.4.1 Increase in need to prioritize artificial intelligence governance aligning with regulatory frameworks 353
10.3.5 FRANCE 355
- 10.3.5.1 Demand for improved efficiency and decision-making 355
10.3.6 ITALY 356
- 10.3.6.1 Adoption of sophisticated technologies with thriving startup ecosystem 356
10.3.7 SPAIN 358
- 10.3.7.1 Initiatives by government to promote widespread adoption of artificial intelligence 358
10.3.8 NORDIC 359
- 10.3.8.1 Venture capital investments with growing interest in development of artificial intelligence 359
10.3.9 BALKANS 360
- 10.3.9.1 Collaboration among industry, academia, and government to adopt front-line technologies 360
10.3.10 REST OF EUROPE 360
10.4 ASIA PACIFIC 361
10.4.1 ASIA PACIFIC: ARTIFICIAL INTELLIGENCE MARKET DRIVERS 361
10.4.2 ASIA PACIFIC: IMPACT OF RECESSION 361
10.4.3 CHINA 371
- 10.4.3.1 Government initiatives and regulations in favor of AI development 371
10.4.4 JAPAN 374
- 10.4.4.1 Government initiatives and industry collaborations 374
10.4.5 SOUTH KOREA 376
- 10.4.5.1 Government investments in artificial intelligence infrastructure to enhance citizen services 376
10.4.6 INDIA 377
- 10.4.6.1 Exploring generative AI for innovation and industry transformation 377
10.4.7 AUSTRALIA & NEW ZEALAND 379
- 10.4.7.1 Business experiment with applications of generative AI 379
10.4.8 ASEAN 380
- 10.4.8.1 Progress in adopting artificial technology 380
10.4.9 REST OF ASIA PACIFIC 382
10.5 MIDDLE EAST & AFRICA 382
10.5.1 MIDDLE EAST & AFRICA: ARTIFICIAL INTELLIGENCE MARKET DRIVERS 382
10.5.2 MIDDLE EAST & AFRICA: IMPACT OF RECESSION 382
10.5.3 ISRAEL 391
- 10.5.3.1 Growth in application of artificial intelligence across various industry verticals 391
10.5.4 KINGDOM OF SAUDI ARABIA 394
- 10.5.4.1 Greater emphasis on artificial intelligence development across key industry verticals 394
10.5.5 UAE 396
- 10.5.5.1 Implementation of proactive strategies and establishing regulatory frameworks 396
10.5.6 EGYPT 397
- 10.5.6.1 Initiatives by government by collaborating with academia 397
10.5.7 TURKEY 399
- 10.5.7.1 Government fostering innovation to drive economic growth 399
10.5.8 SOUTH AFRICA 400
- 10.5.8.1 Rapid adoption of advanced technologies by businesses country-wide 400
10.5.9 REST OF THE MIDDLE EAST & AFRICA 402
10.6 LATIN AMERICA 402
10.6.1 LATIN AMERICA: ARTIFICIAL INTELLIGENCE MARKET DRIVERS 402
10.6.2 LATIN AMERICA: IMPACT OF RECESSION 403
10.6.3 BRAZIL 412
- 10.6.3.1 Rise in requirement to balance ethical use of technology 412
10.6.4 MEXICO 415
- 10.6.4.1 Endeavoring to become digitally advanced country 415
10.6.5 ARGENTINA 416
- 10.6.5.1 Adoption of artificial intelligence to enhance processes and improve decision-making 416
10.6.6 CENTRAL AMERICA 418
- 10.6.6.1 Rise in application of artificial intelligence to promote research and innovation 418
10.6.7 REST OF LATIN AMERICA 419
11 COMPETITIVE LANDSCAPE 420
11.1 OVERVIEW 420
11.2 KEY PLAYER STRATEGIES 420
11.3 REVENUE ANALYSIS 422
11.3.1 HISTORICAL REVENUE ANALYSIS 423
11.4 MARKET SHARE ANALYSIS 423
11.5 COMPANY EVALUATION QUADRANT 425
11.5.1 STARS 425
11.5.2 EMERGING LEADERS 425
11.5.3 PERVASIVE PLAYERS 425
11.5.4 PARTICIPANTS 425
11.5.5 COMPETITIVE BENCHMARKING 427
11.6 STARTUP/SME EVALUATION MATRIX 428
11.6.1 PROGRESSIVE COMPANIES 428
11.6.2 RESPONSIVE COMPANIES 428
11.6.3 DYNAMIC COMPANIES 429
11.6.4 STARTING BLOCKS 429
11.6.5 STARTUPS/SMES COMPETITIVE BENCHMARKING 430
11.7 ARTIFICIAL INTELLIGENCE PRODUCT LANDSCAPE 434
11.8 COMPETITIVE SCENARIO AND TRENDS 435
11.8.1 PRODUCT LAUNCHES 435
11.8.2 DEALS 438
11.9 VALUATION AND FINANCIAL METRICS OF KEY ARTIFICIAL INTELLIGENCE VENDORS 440
11.10 YEAR-TO-DATE (YTD) PRICE TOTAL RETURN AND STOCK BETA OF KEY ARTIFICIAL INTELLIGENCE VENDORS 440
12 COMPANY PROFILES 441
12.1 INTRODUCTION 441
12.2 MAJOR PLAYERS 441
12.2.1 GOOGLE 441
12.2.2 MICROSOFT 451
12.2.3 IBM 460
12.2.4 ORACLE 468
12.2.5 AWS 476
12.2.6 INTEL 484
12.2.7 SALESFORCE 490
12.2.8 SAP 498
12.2.9 CISCO 506
12.2.10 META 511
12.2.11 HPE 518
12.2.12 SIEMENS 524
12.2.13 NVIDIA 529
12.2.14 BAIDU 535
12.2.15 SAS INSTITUTE 540
12.2.16 OPENAI 545
12.2.17 H20.AI 547
12.2.18 IFLYTEK 553
12.2.19 HUAWEI 556
12.2.20 ALIBABA CLOUD 559
12.3 OTHER KEY PLAYERS 563
12.3.1 GENERAL VISION 563
12.3.2 DARKTRACE 564
12.3.3 BLACKBERRY LIMITED 565
12.3.4 DIDI GLOBAL 566
12.3.5 FACE++ 566
12.3.6 INBENTA 567
12.3.7 ANJU SOFTWARE 568
12.3.8 BUTTERFLY NETWORK 569
12.3.9 ATOMWISE 570
12.3.10 AIBRAIN 571
12.3.11 SK HYNIX 572
12.3.12 PROGRESS 573
12.3.13 PRECISIONHAWK 574
12.3.14 AGEAGLE AERIAL SYSTEM 575
12.3.15 NEURALA 576
12.3.16 TWITTER 577
12.3.17 AUREA SOFTWARE 578
12.3.18 PERSADO 579
12.3.19 8X8 580
12.3.20 APPIER 581
12.3.21 GUMGUM 582
12.3.22 IPRO 583
12.3.23 GRAPHCORE 584
12.3.24 PREFERRED NETWORKS 585
12.3.25 APPLIED BRAIN RESEARCH 586
12.3.26 PILOT AI 586
12.3.27 IRIS AUTOMATION 587
12.3.28 GAMAYA 588
12.3.29 EC2CE 589
12.3.30 DESCARTES LABS 590
12.3.31 MYTHIC 591
12.3.32 ADA 592
12.3.33 MOSTLY AI 592
12.3.34 SENTIENT.IO 593
12.3.35 LUMEN5 594
12.3.36 AERA TECHNOLOGY 594
12.4 STARTUPS 595
12.4.1 AI SUPERIOR 595
12.4.2 FOSFOR 596
12.4.3 INTRINSIC 596
12.4.4 JASPER 597
12.4.5 SOUNDFUL 597
12.4.6 WRITESONIC 598
12.4.7 ONE AI 599
13 ADJACENT AND RELATED MARKETS 600
13.1 ADJACENT AND RELATED MARKETS 600
13.1.1 INTRODUCTION 600
13.1.2 GENERATIVE AI MARKET - GLOBAL FORECAST TO 2028 600
- 13.1.2.1 Market definition 600
- 13.1.2.2 Market overview 600
- 13.1.2.2.1 Generative AI market, by offering 601
- 13.1.2.2.2 Generative AI market, by application 602
- 13.1.2.2.3 Generative AI market, by vertical 605
- 13.1.2.2.4 Generative AI market, by region 606
13.1.3 CONVERSATIONAL AI MARKET - GLOBAL FORECAST TO 2028 607
- 13.1.3.1 Market definition 607
- 13.1.3.2 Market overview 607
- 13.1.3.2.1 Conversational AI market, by offerings 608
- 13.1.3.2.2 Conversational AI market, by business function 608
- 13.1.3.2.3 Conversational AI market, By channel 609
- 13.1.3.2.4 Conversational AI market, by conversational interface 610
- 13.1.3.2.5 Conversational AI market, by technology 611
- 13.1.3.2.6 Conversational AI market, by vertical 611
- 13.1.3.2.7 Conversational AI market, by region 612
14 APPENDIX 614
14.1 DISCUSSION GUIDE 614
14.2 KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL 621
14.3 CUSTOMIZATION OPTIONS 623
14.4 RELATED REPORTS 623
14.5 AUTHOR DETAILS 624