Lucintel Blog: Lucintel Forecasts Artificial Intelligence (AI) Market to Reach $115 Billion by 2027

Wednesday, July 20, 2022

Lucintel Forecasts Artificial Intelligence (AI) Market to Reach $115 Billion by 2027

According to the recent study the Artificial Intelligence Market is projected to reach an estimated $115 billion by 2027 from $32 billion in 2021, at a CAGR of 23.5% from 2021 to 2027. Growth in this market is primarily driven by increasing demand for virtual assistance for easy accessibility of services and growing adoption of cloud-based technology.

Browse 106 figures / charts and 89 tables in this 205 -page report to understand trends, opportunities and forecast in artificial intelligence market by end use industry (media and advertising, security, automotive, healthcare, retail, fintech, manufacturing, and others), technology (machine learning, natural learning processing, and others), product and service (hardware, software, and service), and region (North America, Europe, Asia Pacific, and the Rest of the World).

Download sample report by clicking on below link https://www.lucintel.com/artificial-intelligence-market.aspx

“Machine learning market is expected to remain the largest segment during the forecast period.”

Based on technology, the artificial intelligence market is segmented into the healthcare, security, retail, automotive, manufacturing, and financial technology (fintech) sectors. Lucintel forecasts that the machine learning market is expected to remain the largest segment due to increasing adoption of this technology in the autonomous applications and growing consumer preference for IoT-enabled devices.

“Within the artificial intelligence market, the media and advertising segment is expected to remain the largest end use industry.”

Based on end use industry the media and advertising segment is expected to witness the highest growth over the forecast period due to an increasing adoption of customer-centric marketing strategies and increasing use of social platform for advertisements.

“Asia pacific will dominate the artificial intelligence market in near future.”

APAC is projected to remain the largest region, and it is also expected to witness the highest growth over the forecast period due to the growing adoption of IoT (internet of things), increasing installation of smart home devices, and growing industrial automation in countries, such as China, India, and Taiwan.

Download Brochure of this report by clicking on https://www.lucintel.com/artificial-intelligence-market.aspx

Major players of artificial intelligence market are adopting various growth strategies like new product launches, expansions, merger and acquisitions, partnerships, agreements, and collaborations to expand their presence in this market. Google, Siemens AG, Apple Inc., Facebook, Samsung, Microsoft, Amazon, NVIDIA, NEC Corporation, Intel Corporation, IBM, General Electric are among the major artificial intelligence providers.

This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link https://www.lucintel.com/artificial-intelligence-market.aspx or helpdesk@lucintel.com.

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