Global Artificial Intelligence Market Research Report 2022-2027: Rapid Rise in Cybersecurity Incidents Driving Growth

global artificial intelligence market

Dublin, Nov. 23, 2022 (GLOBE NEWSWIRE) — The “artificial intelligence market by offering (hardware, software, services), technology (machine learning, natural language processing), mode of deployment, size of organization , business function (law, security), verticals and regional – global forecasts to 2027″ have been added to from ResearchAndMarkets.com offer.

The size of the artificial intelligence market will grow from USD 86.9 billion in 2022 to USD 407.0 billion by 2027, at a compound annual growth rate (CAGR) of 36.2%

Faster speech recognition and natural language processing are just a few examples of how technological developments in the AI ​​industry are helping businesses. In the coming years, it is expected that such developments in artificial intelligence technology will contribute to the growth of the sector.

Innovators and business leaders are racing to realize AI’s promise of time and cost savings and competitive advantage. Faster and more accurate analysis of consumer behavior data enables companies to plan their future marketing strategies and campaigns, thus fueling the expansion of the AI ​​market.

Data management is assisted by AI to understand which of their methods are inefficient and which are all the most effective. Moreover, it ensures that the data reaches the intended user unaltered by cybercriminals using man-in-the-middle, ransomware, or other forms of cyberattacks.

Major market players such as IBM, Microsoft, AWS, Intel, Google, Oracle, and Salesforce have adopted numerous growth strategies, including acquisitions, new product launches, product enhancements, and business expansions, to increase their market shares.

Based on deployment mode, cloud deployment mode to register the largest market size during the forecast period

On the basis of deployment mode, the artificial intelligence market is segmented into on-premises and cloud deployment mode. The market size of cloud deployment mode segment is estimated to be largest during the forecast period.

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Scalability, speed, and IT security are all benefits of the cloud deployment approach. Data-driven innovation benefits greatly from the combination of AI and cloud computing. The popularity of cloud deployment mode is facilitated by the cognitive powers of AI and machine learning, which thrive on massive volumes of scalable and readily available data in a cloud environment.

Right Segment to Represent Highest CAGR during the forecast period

Based on business function, the artificial intelligence market is segmented into finance, security, human resources, legal, marketing and sales, and other business functions.

The Law segment is expected to grow at a higher CAGR during the forecast period. Law firms large and small are using AI technologies in increasing numbers. Artificial intelligence technology, particularly machine learning and natural language processing, is used to increase efficiency, increase profit margins, and deliver creative and effective legal advice. The AI ​​market is growing due to the increase in litigation and growing demand for reducing operational expenses.

Asia-Pacific will hold the highest CAGR during the forecast period

The Asia Pacific Artificial Intelligence Market is expected to grow at the highest CAGR of 40.8% from 2022 to 2027. In countries like China, India, Japan, and others, the use of AI services in end-user industries like manufacturing, healthcare, retail, and e-commerce may be responsible for this increase.

In this region, the adoption of new and emerging technologies has accelerated in recent years. The data storage, processing and availability of computer systems have all increased, as well as their overall capacity.

A new generation of more autonomous AI systems has been made possible by the convergence of complementary technologies, which has increased the demand for automation of operations due to continuous improvements in hardware and software.

Premium Previews

• Rapid increase in cybersecurity incidents driving the growth of AI

• GPU will be the biggest market, 2022

• Marketing and sales represent the most important function during the forecast period

• Software and Bfsi segments will account for significant respective market shares, 2022

• North America to Dominate AI Market in 2021

Market dynamics

Drivers

Constraints

Opportunities

Challenges

Acquisitions on the market

Case study analysis

Retail and e-commerce

Marketing and Sales

• Use case 1: US Foods used Snowflake and Datarobot solutions to analyze transactions for 300,000 customers

• Use Case 2: Marketing Technology Companies Use H2O.AI Technology to Deliver Innovative Marketing Solutions

Health and life sciences

• Use case 1: The Tamil Nadu Governance Agency (Tnega) used an AI-based mobile application to enable screening of people with cataracts

• Use case 2: Inspire used ML to connect millions of patients and caregivers on Aws

fintech

Security

• Use case 1: Cybraics Nlighten platform helped protect systems against cyber threats

• Use case 2: Cognizant created an AI-based smudge solution for an Indian insurance company to protect biometric data

Agriculture

• Use case 1: A biochemical company created a digital solution to provide accurate product recommendations via AI

• Use case 2: An agrochemical company used a precision agriculture solution to predict late blight disease in crops

Manufacturing

• Use case 1: Kia Motors America leveraged Sas’ advanced analytics and AI to improve products and customer satisfaction

• Use case 2: Coca-Cola used IBM Watson Services for Core ML to identify equipment issues, diagnose issues, and troubleshoot repairs

Right

• Use case 1: The Law Society of British Columbia (BC) used Dataiku for risk ranking and anomaly detection

• Use Case 2: Nia contract analysis of Infosys’ advanced ML techniques to help clients extract insights from legal documents

Construction

Technological analysis

• Artificial Intelligence and Big Data

• Artificial intelligence and machine learning

• Artificial intelligence and natural language processing

Company Profiles

Main actors

• Google

• Microsoft

• IBM

• Intel

• Oracle

• AWS

• Selling power

• SAP

• SAS Institute

• Cisco

• Meta

• hep

• Siemens

• Huawei

• Nvidia

• Baidu

• Samsung

• Iflytek

• Alibaba Cloud

• General view

• Dark Trace

• blackberry limited

• Didi Chuxing

• Face++

• The invention

• Anju software

• butterfly network

• Atom

• Intrinsic

• Aibrain

• Adapteva

• Conical

• knuedge

• Sk Hynix

• Progress data

• Precision Falcon

• Ageagle Air System

• Neural

• Twitter

• Aurea software

• persado

• 8X8

• apper

• rubber

• Ipro

Other actors/SMEs

• Graphcore

• Preferred networks

• Zensed

• Applied brain research

• Pilot AI Labs

• Iris Automation

• Little

• Ec2Ce

• Descartes Laboratories

• Mythical

For more information about this report visit https://www.researchandmarkets.com/r/da858b

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