Artificial Intelligence (AI) Software Market 2024 - Growth by Regional Segments, Upcoming Business Strategies, Industry Revenue And Forecast by 2033
Overview and Scope
Artificial intelligence (AI)
software refers to computer programs and algorithms capable of learning from
data, recognizing patterns, making decisions, and solving problems autonomously
or with minimal human intervention, designed to simulate and perform tasks that
require human intelligence. This software is applied across various industries
and domains to automate processes, enhance decision-making, personalize
experiences, optimize operations, and innovate products and services.
Sizing and Forecast
The artificial intelligence (AI)
software market size has grown exponentially in recent years. It will grow from
$168.98 billion in 2023 to $222.7 billion in 2024 at a compound annual growth
rate (CAGR) of 31.7%. The growth in the historic period can be
attributed to image recognition and analysis, recommendation engines tools,
robotic process automation (RPA) tools, healthcare AI solutions , and
regulatory support and ethical guidelines.
The artificial intelligence (AI)
software market size is expected to see exponential growth in the next few
years. It will grow to $678.82 billion in 2028 at a compound annual growth rate
(CAGR) of 32.2%. The growth in the
forecast period can be attributed to expansion of AI applications across
industries, rise of edge AI and IoT integration, increased adoption of AI in
healthcare, and expansion of autonomous systems and robotics. Major trends in
the forecast period include explainable AI, AI democratization, AI-powered
automation and augmentation, AI in healthcare transformation, AI in
cybersecurity, AI in climate and sustainability.
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Segmentation & Regional
Insights
The artificial intelligence (AI)
software market covered in this report is segmented –
1) By Deployment Model:
On-Premises, Cloud
2) By Technology : Computer
Vision, Data Analytics, Machine Learning, Natural Language Processing, Other
Technologies
3) By Application: Voice
Processing, Text Processing, Image Processing
4) By End-User: Law,
Retail, Healthcare, Banking, Financial Services, and Insurance, Advertising And
Media, Automotive And Transportation, Agriculture, Manufacturing, Others
End-Users
North America was the largest
region in the artificial intelligence (AI) software market in 2023. The regions
covered in the artificial intelligence (AI) software market report are
Asia-Pacific, Western Europe, Eastern Europe, North America, South America,
Middle East and Africa.
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Major Driver Impacting Market
Growth
The increasing investments in AI
startups are expected to propel the growth of the artificial intelligence (AI)
software market going forward. AI startups are companies that specialize in
developing and implementing artificial intelligence (AI) technologies to solve
specific problems or meet market demands. Investments in AI startups are
increasing due to rising demand for AI solutions across industries and its cost
reduction and scalability. Investments in AI startups will support marketing
and sales efforts, enabling AI companies to expand their market presence and
drive the adoption of software solutions. For instance, in May 2022, according
to the International Trade Administration, a US-based government agency, AI
startups secured $1.5 billion in funding in 2021, up from $1.3 billion in 2020.
Therefore, increasing investments in AI startups drive the growth of the
artificial intelligence (AI) software market.
Key Industry Players
Major companies operating in the
artificial intelligence (AI) software market are Amazon.com Inc., Apple Inc.,
Google Plc, Meta Platforms Inc., Tencent Holdings Limited, Intel Corporation,
Accenture plc, International Business Machines Corporation, Deloitte Touche
Tohmatsu Limited, Oracle Corporation, SAP SE, Salesforce.com Inc., NVIDIA
Corporation, Cognizant Technology Solutions Corporation, Adobe Inc., Baidu
Inc., Infosys Limited, Wipro Limited, Micro Focus International plc, Palantir
Technologies Inc., OpenAI, Nuance Communications Inc., UiPath Inc., Automation
Anywhere Inc., CognitiveScale Inc.
The artificial intelligence
(ai) software market report table of contents includes:
1. Executive Summary
2. Artificial Intelligence (AI)
Software Market Characteristics
3. Artificial Intelligence (AI)
Software Market Trends And Strategies
4. Artificial Intelligence (AI)
Software Market - Macro Economic Scenario
5. Global Artificial Intelligence
(AI) Software Market Size and Growth
................................
32. Global Artificial Intelligence
(AI) Software Market Competitive Benchmarking
33. Global Artificial Intelligence
(AI) Software Market Competitive Dashboard
34. Key Mergers And Acquisitions
In The Artificial Intelligence (AI) Software Market
35. Artificial Intelligence (AI)
Software Market Future Outlook and Potential Analysis
36. Appendix
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