Report Highlights
The global market for artificial intelligence (AI) is estimated to increase from $148.8 billion in 2023 to reach $1.1 trillion by 2029, at a compound annual growth rate (CAGR) of 39.7% from 2024 through 2029.
Report Includes
- 87 data tables and 57 additional tables
- An analysis of the current and future global markets for artificial intelligence (AI)
- Analyses of global market trends, with market revenue data (sales figures) for 2023, estimates for 2024, forecast for 2025 and 2027, and projected CAGRs through 2029
- Estimates of the market size and revenue forecasts for the global AI market, with market share analysis by type, solution, deployment, technology, end user industry, and region
- Discussions of the market dynamics, opportunities and challenges, as well as emerging technologies
- Discussion of advances in AI technology and its usage for enhanced customer service, and analysis & interpretation of large amounts of data; information on generative AI and explainable AI (XAI) and their advantages and drawbacks
- Overview of the sustainability trends and ESG developments in the industry, with emphasis on the ESG practices of leading companies, their ESG scores, and consumer attitudes
- Competitive intelligence, including companies’ market shares, recent M&A activity and venture funding
- Company profiles of major players within the industry, including Samsung, Intel Corp., Google Inc. (Alphabet Inc.), Microsoft, and Nvidia Corp.
Report Scope
This report analyzes the global artificial intelligence (AI) market and breaks it down into segments: AI solution type (software, services and hardware) and deployment mode (on-premise and cloud). In addition, the report analyzes the key AI technologies such as machine learning (ML), computer vision, natural language processing (NLP) and context-aware computing. It also examines the applications of AI technology in end-user industries such as BFSI, media and entertainment, healthcare, security and surveillance, marketing, logistics and supply chain, retail, automotive, telecom and IT, energy and utilities, manufacturing, education, legal, agriculture and government.
The report discusses the solutions provided by AI companies. It includes a regional analysis that covers the current and future factors influencing the deployment of AI solutions in North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa.
The report analyzes the key drivers and regional dynamics of the AI market, along with current industry trends. It concludes with profiles of the major AI providers. The base year for the study is 2023, and projections for 2024 through 2029 are provided, along with expected CAGRs for this forecast period.
Report Synopsis
| Report Metrics | Details | ||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Base year considered | 2023 | ||||||||||||||||||||||||
| Forecast period considered | 2024-2029 | ||||||||||||||||||||||||
| Base year market size | $148.8 billion | ||||||||||||||||||||||||
| Market size forecast | $1.1 trillion | ||||||||||||||||||||||||
| Growth rate | CAGR of 39.7% for the forecast period of 2024-2029 | ||||||||||||||||||||||||
| Units considered | $ Millions | ||||||||||||||||||||||||
| Segments covered | Solution Type, Deployment Mode, Technology, End-User Industry | ||||||||||||||||||||||||
| Regions covered | North America, Europe, Asia-Pacific, Latin America, Middle East and Africa | ||||||||||||||||||||||||
| Countries covered | U.S., Canada, U.K., Germany, France, Italy, Russia, Spain, the Netherlands, Portugal, Japan, China, India, Thailand, Singapore, Vietnam | ||||||||||||||||||||||||
| Key Market Drivers |
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| Companies studied |
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Frequently Asked Questions (FAQs)
- By Solution Type
- By Deployment Mode
- BY Technology
- By End-user Industry
- By Geography
Analyst Credentials
Austin Samuel – Consultant-Technology Research
Austin Samuel is an experienced professional with nearly a decade of industry experience in research and analysis, specializing in Information Technology. He has conducted extensive research and provided comprehensive syndicate and custom reports on the developments and application of information technology across multiple industries for international and domestic clients. He exhibits exceptional analytical abilities and strategic thinking and has contributed significantly to the team. Academically, Austin holds a master’s degree in Marketing and IT and a bachelor’s degree in Electrical and Electronics.
Report Highlights
The global artificial intelligence (AI) market should reach $294.8 billion by 2026 from $55.3 billion in 2021 at a compound annual growth rate (CAGR) of 39.7% for the forecast period of 2021 to 2026.
Report Highlights
The global artificial intelligence (AI) market should reach $132.9 billion by 2024 from $26.2 billion in 2019 at a compound annual growth rate (CAGR) of 38.4% for the forecast period of 2019 to 2024.
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