Vantage Market Research |
Artificial Intelligence Market to Reach USD 175.63 Billion by 2028
According to analysts at Vantage Market Research, the Artificial Intelligence Market is expected to reach USD 175.63 Billion by 2028, growing at a CAGR of 41.23% from 2021 to 2028. The continuous research and innovation conducted by various industry players are fuelling the adoption of new technologies in the market which forces drive the growth of the Artificial Intelligence Market. This adaption is affected on various industries such as retail, finance, healthcare, automotive, and manufacturing. But the main center of attraction of all these companies is the Artificial Intelligence domain.
Key Findings
Major factors that drive the Artificial Intelligence (AI) market growth are advanced analytics, increased potential of R&D, increase in the adoption of big data, and technological advancement across the globe. The government and healthcare industries are developing more data that are accessible to the research domain because of high data storage and high recovery. Thus it helps to propel the market growth in various sectors as well. Furthermore, demand for digital image processing for security and surveillance purpose, Artificial Neural Networks (ANN), progress in profound learning, advanced technologies such as Single Shot Multi-Box Detector (SSD) and Generative Adversarial Networks (GAN) has also boosted the adaption of Artificial Intelligence (AI) market in multiple industries.
The Asia Pacific region is also accounted to witness significant growth of Artificial Intelligence (AI) market in the forthcoming years. This growth is due to the rising investments towards artificial intelligence. Factors such as the increased potential of R&D, demand for digital image processing, technological investments, and high population also support the demand of Artificial Intelligence (AI) market in various countries.
Some of the key players of Artificial Intelligence (AI) market are Alphabet Inc., Microsoft Corporation, IBM Corporation, Baidu, Inc., Intel Corporation, Samsung Electronics Co., Ltd., Amazon Web Services, Inc., SAS Institute Inc., Facebook, Inc., SAP SE, Salesforce.com, Inc., NVIDIA Corporation, Oracle, Cisco, Siemens, Huawei, Alibaba Cloud, iFLYTEK, Hewlett Packard Enterprise Development LP, General Vision Inc., Graphcore, Mellanox Technologies, Darktrace, Cylance Inc., Didi Chuxing Technology Co., Zoox, Inbenta, Zephyr Health Inc., Butterfly Network, Atomwise Inc., Vicarious, Preferred Network Inc., AIBrain LLC, Wave Computing Inc., Mythic, Adapteva, Koniku Inc., KnuEdge Inc., SK Hynix Inc., Progress DataRPM, Descartes Labs, Gamaya, EC2CE, Precision Hawk, Agribotix, Neurala, Iris Automation, Pilot AI Labs Inc., Sentient Technologies, Applied Brain Research, Twitter, InsideSales, Persado, Mariana, Drawbridge, Narrative Science, Appier, Zensed, GumGum Inc. and among others.
Artificial Intelligence Market to Reach USD 175.63 Billion by 2028
11 Nov 2021
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Historical Data | Base Year
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Artificial Intelligence Market to Reach USD 175.63 Billion by 2028
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