Global Artificial Intelligence AI Software Market Strategies 2024, Forecast To 2033
23 Jul, 2024
The AI software market has shown remarkable growth, rising from $168.98 billion in 2023 to $222.7 billion in 2024, marking a CAGR of 31.7% during this period. This surge is driven by the widespread adoption of AI technologies such as image recognition, recommendation engines, and robotic process automation (RPA). AI's integration into healthcare for diagnostics and personalized medicine, bolstered by supportive regulatory frameworks, has also played a significant role. Looking forward, the market is poised to reach $678.82 billion by 2028, growing at a CAGR of 32.2%. Factors fueling this expansion include AI's increasing application across industries, its synergy with edge computing and IoT for operational efficiency, and its pivotal role in predictive analytics and patient care in healthcare. Additionally, autonomous systems and robotics are driving growth in manufacturing and services. Future trends include advancements in explainable AI, democratization of AI technologies, widespread adoption of AI-driven automation, transformative impacts in healthcare, enhanced cybersecurity measures, and contributions to climate and sustainability efforts.
Major Driver In The Artificial Intelligence AI Software Market
The artificial intelligence (AI) software market is anticipated to grow due to rising investments in AI startups globally. These startups specialize in developing and implementing AI technologies to address market needs, driving innovation and scalability across industries. Investments in AI startups support their marketing efforts and market expansion, accelerating AI software adoption globally. For instance, AI startups secured $1.5 billion in funding in 2021, reflecting growing investor confidence in AI technology. This trend is expected to drive the artificial intelligence (AI) software market.
Request A Free Sample Of The Global Artificial Intelligence AI Software Market ReportArtificial Intelligence AI Software Market Competitive Landscape
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.
Key Artificial Intelligence AI Software Market Trend
Leading companies in the artificial intelligence (AI) software market are developing advanced solutions such as Security Copilot to enhance cybersecurity capabilities. Security Copilot, launched by Microsoft Corporation, a US-based technology company, in March 2024, employs AI to bolster cybersecurity measures and respond to cyber threats effectively. Combining a specialized language model with security-specific capabilities informed by global threat intelligence, Security Copilot provides tailored insights and guidance for cybersecurity tasks. It analyzes vast data signals to detect cyber threats proactively, summarize data into key insights, and reinforce security postures, enabling organizations to enhance cybersecurity defenses and mitigate risks effectively.
Purchase The Global Artificial Intelligence AI Software Market Report Directly And Get A Swift DeliveryArtificial Intelligence AI Software Market Segmentation
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
By Geography:The regions covered in the artificial intelligence (AI) software market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
North America was the largest region in the artificial intelligence (AI) software market in 2023.
The Artificial Intelligence (AI) Software Global Market Report 2024 furnishes information about the global artificial intelligence (AI) software market, encompassing details like market size, projections for growth, segmentation across various sectors and regions, and an overview of competitors, including their revenues, profiles, and market shares. Furthermore, the report pinpoints potential opportunities and strategic directions derived from market trends and the strategies adopted by key competitors. The report also offers an assessment of how the COVID-19 pandemic, the Russia-Ukraine conflict, and increasing inflation have affected both global and regional markets, furnishing valuable strategic insights for businesses.