According to IMARC Group’s latest report, titled “Artificial Intelligence Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,’ the global artificial intelligence market reached a value of US$ 56.5 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 308.5 Billion by 2027, exhibiting at a CAGR of 31.9% during 2022-2027.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Artificial intelligence (AI) refers to a branch of computer science concerned with building smart machines capable of performing tasks that require human intelligence. It involves human-like visual perception, speech recognition, translation, and decision-making based on past experiences. As it offers the benefits of automation, minimizing errors, and managing repetitive tasks, AI finds extensive application in various end use industries across the globe.
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Significant growth in the information technology (IT) industry, coupled with the increasing adoption of cloud-based solutions for analyzing large amounts of data, improving overall operational efficiency, and enhancing the user experience, represents one of the key factors driving the market. Moreover, AI is gaining traction in the media and entertainment sector to distribute personalized content and enhance the capabilities of streaming services. Apart from this, due to the growing prevalence of chronic diseases, AI is employed in the healthcare industry for remote monitoring of patients and identifying disease clusters.
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List of Key Companies Covered in this Market Report:
Amazon Web Services Inc.
Cisco Systems Inc.
General Electric Company
Google LLC (Alphabet Inc.)
International Business Machines
Micron Technology Inc.
Rockwell Automation Inc.
Samsung Electronics Co. Ltd.
Breakup by Type:
Narrow/Weak Artificial Intelligence
General/Strong Artificial Intelligence
Breakup by Offering:
Breakup by Technology:
Natural Language Processing
Breakup by System:
Decision Support Processing
Breakup by End-Use Industry:
Transportation and Logistics
Breakup by Geography:
North America (U.S. & Canada)
Europe (Germany, United Kingdom, France, Italy, Spain, Russia, and Others)
Asia Pacific (China, India, Japan, South Korea, Indonesia, Australia, and Others)
Latin America (Brazil, Mexico)
Middle East & Africa
Key highlights of the report:
Market Performance (2016-2021)
Market Outlook (2022- 2027)
Porter’s Five Forces Analysis
Market Drivers and Success Factors
Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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