According to a research report "Artificial Intelligence (AI) Market by Offering (Hardware, Software), Technology (ML (Deep Learning (LLM, Transformers (GPT 1, 2, 3, 4)), NLP, Computer Vision), Business Function, Vertical, and Region - Global Forecast to 2030", published by MarketsandMarkets, the global artificial intelligence market size is expected to grow at a Compound Annual Growth Rate (CAGR) of 36.8% during the forecast period, to reach USD 1,345.2 billion by 2030 from USD 150.2 billion in 2023.
The adoption of artificial intelligence (AI) technology has been remarkable since its introduction, leading to significant growth in the global market. This growth attributed to the increasing demand for artificial intelligence technologies across diverse industry verticals. Organizations are recognizing the transformative potential of artificial intelligence in improving operational efficiency, enhancing customer experiences, and driving innovation. Artificial Intelligence technology such as machine learning, natural language processing, computer vision, and others are revolutionizing various sectors, including healthcare, finance, manufacturing, and retail. The advancements in AI algorithms, computing power, and data availability are further fueling the growth of the AI market, as businesses seek to leverage the potential of AI to gain a competitive edge in the digital era.
Some of the prominent key players are:
- Google (US)
- Microsoft (US)
- IBM (US)
- Oracle (US)
- AWS (US)
- Intel (US)
- Salesforce (US)
- SAP (Germany) and many more...
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Source: MarketsandMarkets™ -- www.marketsandmarkets.com