Global Artificial Intelligence (AI) Software Market Size Forecast 2024 - 2033
23 Dec, 2024
How Is The Global Artificial Intelligence (AI) Software Market Defined?
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.
Artificial Intelligence (AI) Software Global Market Report 2024 provides data on the global artificial intelligence (ai) software market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The artificial intelligence (ai) software market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.
How Are The Global Artificial Intelligence (AI) Software Market Size And Growth Rates Projected To Evolve?
The artificial intelligence (AI) software market has expanded significantly, rising from $168.98 billion in 2023 to $222.7 billion in 2024, with a CAGR of 31.7%. Historical growth was supported by applications in image recognition, recommendation tools, robotic process automation, healthcare solutions, and regulatory support. The market is forecasted to grow to $678.82 billion by 2028, at a CAGR of 32.2%, driven by AI adoption across industries, edge AI and IoT integration, healthcare advancements, and autonomous systems expansion. Key trends include explainable AI, democratization of AI tools, automation and augmentation, AI-driven healthcare transformations, cybersecurity solutions, and climate-focused AI applications.
What Are The Essential Drivers Behind The Growth Of The Artificial Intelligence (AI) Software Market?
The growing investments in AI startups are expected to fuel the growth of the artificial intelligence (AI) software market. AI startups specialize in developing and implementing AI technologies to address specific problems or market needs. Investments in AI startups are increasing due to the rising demand for AI solutions across industries and their potential to reduce costs and scale operations. These investments help AI companies expand their market presence and drive the adoption of AI software. For example, the International Trade Administration reported in May 2022 that AI startups secured $1.5 billion in funding in 2021, up from $1.3 billion in 2020. Thus, the increasing investments in AI startups are driving the growth of the artificial intelligence software market.
Get Your Free Sample of the Global Artificial Intelligence (AI) Software Market ReportHow Is The Global Artificial Intelligence (AI) Software Market Divided Into Key Segments?
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
What Trends Are Reshaping The Future Of The Artificial Intelligence (AI) Software Market?
In the artificial intelligence (AI) software market, key companies are focused on developing advanced solutions, such as Security Copilot, to enhance cybersecurity. Security Copilot is an AI-powered solution designed to help security teams detect and respond to cyber threats by analyzing large datasets and automating cybersecurity tasks. For example, in March 2024, Microsoft Corporation, a US-based technology company, introduced Security Copilot. This AI product leverages global threat intelligence and security-specific language models to deliver tailored insights for cybersecurity tasks. It helps security teams proactively detect threats and enhance security postures by summarizing data signals into key insights.
What Is The Fastest Growing Region In The Artificial Intelligence (AI) Software Market?
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.