Artificial intelligence (AI) in oil & gas market is anticipated to grow at a significant CAGR of 12.7% during the forecast period (2024-2031). The market growth is attributed to pivotal factors such as the rising investments in AI technologies, operational efficiency, and cost reduction, data analytics and decision-making, and increased adoption of AI-powered robotics. According to the International Trade Administration, in 2021, AI global funding doubled to $66.8 billion, and a record 65 AI companies reached $1B+ valuations, up 442.0% from the previous year. Each year, more and more companies and governments worldwide adopt AI solutions.
Artificial intelligence (AI) voice cloning market is anticipated to grow at a CAGR of 26.1% during the forecast period (2024-2031). The AI voice cloning market is driven by advancements in machine learning and deep learning algorithms, the increasing demand for virtual assistants and chatbots, the rise of voice-enabled devices, and the need for personalized customer experiences. Businesses are leveraging AI-powered voice cloning to create engaging virtual assistants, while the entertainment and gaming industries are embracing AI voice cloning to enhance storytelling and user experience. However, the growing adoption of voice cloning requires strict adherence to regulations and ethical standards, as compliance with these standards is essential for the market's growth.
AI in asset management market is anticipated to grow at a CAGR of 38.1% during the forecast period (2024-2031). AI in asset management is gaining popularity owing to its ability to process large amounts of data, predict market trends, optimize portfolios, and provide personalized investment solutions. AI aids in portfolio optimization, risk management, compliance monitoring, and reporting, ensuring cost efficiency and scalability.
Enterprise artificial intelligence (AI) market is anticipated to grow at a CAGR of 27.6% during the forecast period (2024-2031). The global enterprise AI market is attributed to advancements in AI technology, the increasing availability of data, and the demand for improved business efficiency and competitiveness. Enterprises are adopting AI owing to advancements in machine learning, deep learning, natural language processing, big data analytics, and IoT integration. AI-powered automation solutions help streamline tasks, reduce errors, and provide personalized offerings. Additionally, AI offers cost savings, scalability, and the ability to differentiate in the market through innovation. Supportive regulatory frameworks and ethical guidelines are also driving the adoption of AI, fostering an environment that encourages innovation.
Mobile artificial intelligence (AI) market is anticipated to grow at a CAGR of 26.9% during the forecast period (2024-2031). AI technology, including machine learning and deep learning, has revolutionized mobile applications. Edge AI reduces latency and privacy, while enhanced hardware enhances performance. Personalization and biometric authentication enhance security. 5G technology enables faster connectivity and IoT integration. AI-powered applications include health tracking, photography, and gaming. Collaborations drive innovation and market growth.
AI text generator market is anticipated to grow at a CAGR of 18.2% during the forecast period (2024-2031). AI text generators have become increasingly popular in the global market owing to their ability to automate content creation and provide cost-effective solutions for businesses. These tools leverage advanced NLP technology and personalized data to generate tailored content that captures audience attention and enhances marketing campaigns. Additionally, they optimize resource allocation by eliminating the need for human writers and offering efficient content creation options.
AI data management market is anticipated to grow at a significant CAGR of 15.7% during the forecast period (2024-2031). The growth of the AI data management market is attributed to the incorporation of machine learning algorithms with data management systems has been important for withdrawing cherished awareness from extensive datasets driving the growth of the market.AI data management involves ensuring data quality through techniques like data cleaning, normalization, and validation, which enhance the performance and reliability of AI systems.
AI in medical coding market is anticipated to grow at a moderate CAGR of 13.7% during the forecast period (2024-2031). AI possesses potential in addressing the growing demand for effective medical coding solutions in the healthcare sector globally. According to the American Hospital Association, in January 2024, it conducts an annual survey of the 6120 hospitals in the US.Furthermore, the increasing number of medical admissions necessitates a significant demand for medical billers and coders, thereby driving the growth of AI in the medical coding market.
Artificial Intelligence (AI) in the cardiology market is anticipated to grow at a significant CAGR of 19.5% during the forecast period (2024-2031).AI and machine learning are revolutionizing cardiac imaging, diagnostics, and treatment planning. It offers early detection, risk prediction, and personalized treatment strategies by analyzing large datasets. The COVID-19 pandemic has additionally accelerated the adoption of remote monitoring and telemedicine.
Generative AI in fintech market is anticipated to grow at anexponentialCAGR of 31.5% during the forecast period (2024-2031).The global generative AI market in fintech is expanding owing to factors such as data-driven decision-making, enhanced customer experience, fraud detection, algorithmic trading, risk management, operational efficiency, and cost reduction. The adoption of generative AI solutions is influenced by regulatory frameworks, technological advancements, and strategic partnerships between fintech companies and technology providers.
AI-Based clinical trial solutions for the patient matching market areanticipated to grow at a significant CAGR of 22.6% during the forecast period (2024-2031).The global market for AI-based clinical trial solutions for patient matching is driven by rising demand for clinical trials, the complexity of patient matching, advancements in AI and ML technologies, integration with Electronic Health Records (EHRs), regulatory pressures, and patient-centricity.
AI training dataset market is anticipated to grow at a significant CAGR of 17.9% during the forecast period (2024-2031).The global AI training dataset market is experiencing significant growth due to the rapid expansion of AI applications across various industries. This has led to a surge in demand for high-quality training datasets, as AI algorithms require vast amounts of labeled data to improve their performance.
AI in the telecommunication market is anticipated to grow at a significant CAGR of 41.4% during the forecast period (2024-2031). The global AI in the Telecommunication market is expanding due to network optimization, automation, predictive maintenance, enhanced customer experience, network security, 5G network deployment, data analytics, and regulatory compliance. AI also serves as a competitive differentiator, enabling efficient, reliable, and personalized services. Collaborations between companies, technology vendors, and startups further accelerate AI adoption.
AI as a service market is anticipated to grow at a significant CAGR of 17.7% during the forecast period (2024-2031). The market growth is attributed to the growing adoption of AI as a service in no-code or low-code Machine Learning (ML) services, ML frameworks, and Application Programming Interfaces (APIs). With little risk and no significant upfront costs, AI as a service (AIaaS) empowers people and organizations to experiment with AI and deploy it for large-scale use cases.
Artificial intelligence (AI) toolkit market is anticipated to grow at a significant CAGR of 16.9% during the forecast period (2024-2031). The market growth is attributed to the growing adoption of technological advancement in artificial intelligence (AI) toolkits such as natural language processing, machine learning, computer vision, and robotic process automation to improve the optimization process globally driving the growth of the market.
Citizen services AI market is anticipated to grow at a significant CAGR of 11.1% during the forecast period (2024-2031).The growth of the citizen services AImarket is attributed to increasing demand for citizen services AI in applications such as transportation, healthcare, government, and public sector, energy & utility, agriculture, and education and trainingdriving growth of the market.
AI deepfake detector tool market is anticipated to grow at an exponential CAGR of 32.4% during the forecast period (2024-2031). The detection of photos or videos that have been altered or made fraudulently to trick viewers is known as deepfake detection. Deepfake identification is essential for ensuring the legitimacy and dependability of visual content in a variety of industries, including cybersecurity, law enforcement, social media, and journalism.
Generative design market is anticipated to grow at a significant CAGR of 17.4% during the forecast period (2024-2031). Generative design is a design approach that uses algorithms and computational tools to automatically generate and optimize design solutions based on specified parameters and constraints.
Adaptive AI market is anticipated to grow at a CAGR of 11.8% during the forecast period (2024-2031). The market growth is attributed to the increasing adoption of adaptive AI to automate and optimize repetitive processes and resource allocation drives the growth of the market. By empowering companies to make more accurate and efficient decisions, adaptive AI has the potential to completely transform the way that decisions are made. Companies may reach their maximum potential and successfully navigate new opportunities by implementing adaptive AI and realizing its vast potential.
Generative AI in marketing market is anticipated to grow at a considerable CAGR of 35.8% during the forecast period (2024-2031). The global market is driven by the growing demand for AI generated content for strategic marketing moves from several end-user industries. Growing investments in this field along with software advancement are further aiding the market growth.
AI in food & beverages market is anticipated to grow at an exponential CAGR of 37.5% during the forecast period (2024-2031). The global market is driven by the growing demand for AI in food & beverage industry for food sorting, quality maintenance, and supply chain management. Growing investments in this field along with software advancement are further aiding the market growth.
AI in fashion market is anticipated to grow at an exponential CAGR of 26.0% during the forecast period (2024-2031). The market’s growth is attributed to the prevailing trend for personalized purchasing experiences to consumers to increase their pleasure and loyalty.
Multimodal AI market is anticipated to grow at a significant CAGR of 14.9% during the forecast period (2024-2031). The growing adoption of multimodal generative AI models with the improving producing data across diverse modalities like texts, images, and audio is a key factor supporting the growth of the market globally. The increasing focus of market players on introducing generative multimodal AI solutions is further aiding to the market growth.
AI in beauty and cosmetics market is anticipated to grow at a significant CAGR of 19.6% during the forecast period (2024-2031). The market’s growth is attributed to growing demand forAI technologies by beauty brands to provide personalized beauty solutions by analyzing consumer data such as skin profiles and preferences. According to the National Institute of Health (gov.) in September 2021, the deployment of AI in the retail sector has shown promising results, particularly in targeting the top 1.0% of customers who generate significant value for retailers.
AI-enabled testing market is anticipated to grow at a significant CAGR of 17.4% during the forecast period (2024-2031). The AI-enabled testing market integrates AI technologies such as machine learning and natural language processing to automate test case generation, prioritize testing efforts, and predict software defects. It enhances efficiency by automating tasks such as test execution and maintenance, while also improving accuracy through predictive analytics and cognitive testing.
Edge AI market is anticipated to grow at a significant CAGR of 16.8% during the forecast period (2023-2030). The growing 5G networking, advancement in IT infrastructure, and rapid integration of AI in several tasks is a key factor driving the global edge AI market. Edge AIis a type of AI that is processed and analyzed at the edge of the network, where data is collected, rather than sending it to a central cloud for processing. Edge AI offers several advantages over traditional cloud-based AI, which includes, improved bandwidth utilization, reduced latency, enhanced security and privacy and offline functionality.
Artificial intelligence (AI) in real estate market is anticipated to grow at a CAGR of 10.24% during the forecast period (2023-2030). The market’s growth is attributed to advanced artificial intelligence capabilities. AI technology advancements enable it to approximate human cognitive functions and accomplish jobs in situations that are real. It results to more advanced AI apps capable of managing complicated tasks and offering significant insights in the real estate market.
AI in the renewable energy market is anticipated to grow at a CAGR of 24.8% during the forecast period (2023-2030). With growing efforts to promote the renewable energy sector from private and public organizations globally, the demand for Artificial Intelligence (AI) based solutions in the renewable energy sector is also growing. According to the 2023 Renewable Energy Capacity Highlights by International Renewable Energy Agency, global renewable energy capacity has grown by 9.6% during 2022 to 3,347GW.
Artificial intelligence (AI) in banking market is anticipated to grow at a CAGR of 25.1% during the forecast period (2023-2030). The Rising digital transformation in finance sectors globally are the key factors factor global artificial intelligence (AI) in banking market. According to DBS bank, The world of banking has been transforming in the past few years owing to a technological revolution in the global banking sector.
AI powered storage market is anticipated to grow at a significant CAGR of 26.4% during the forecast period (2024-2031). AI-powered storage utilizes artificial intelligence (AI) and machine learning (ML) to optimize storage infrastructure, automate data management tasks, and enhance system performance, ultimately improving efficiency and reliability.
Artificial Intelligence (AI) in Telecommunication market is anticipated to grow at a CAGR of 40.6% during the forecast period (2023-2030). The market’s growth is attributed to customer support and service across the globe. Virtual assistants and chatbots powered by AI are utilized to answer common customer questions, solve problems, and offer information. Through faster response times and higher customer satisfaction, automation improves customer service and support.
Artificial intelligence (AI) orchestration market is anticipated to grow at a CAGR of 32.9% during the forecast period (2023-2030). The market’s growth is attributed to increasing consumer demands across the globe. Customers anticipate individualized interactions and prompt, accurate responses. AI orchestration enables enterprises to satisfy these demands.
Intelligence (AI) in oncology market is anticipated to grow at a CAGR of 32.6% during the forecast period (2023-2030). The industry growth is attributed to increased demand for precise cancer diagnosis and early treatment across the global. AI algorithms can accurately assess medical images and data, lowering the possibility of human error in identifying and classifying diseases such as HER2 in breast cancer. Treatment choices can be implemented more successfully as a result of this increased accuracy.
AI in media & entertainment market is anticipated to grow at a CAGR of 12.8% during the forecast period (2023-2030). The media and entertainment houses are adopting AI to cater to the changing market demands and customer requirements. Artificial intelligence is now a part of the industry and has varied roles.
Quantum computing market is anticipated to grow at a considerable CAGR of 30.6% during the forecast period. Quantum computing is a multidisciplinary field that uses quantum mechanics to solve problems that are too complex for traditional computers. Quantum computing is a rapidly emerging technology that includes hardware research and application development.
AI camera market is anticipated to grow at a CAGR of 12.8% during the forecast period (2023-2030). AI Camera is an essential aspect of every industry. AI Camera can help organizations to improve their security posture by reducing the risk of human error, improving efficiency, and accelerating response times to security incidents, by automating tasks such as gathering evidence and taking corrective actions.
AI & advanced ML in BFSI market is anticipated to grow at an exponential CAGR of 50.5% during the forecast period. The ongoing development of AI & ML technologies within BFSI services is anticipated to boost the revenue of financial institution while lowering cost. The growing adoption of AI & advanced ML in BFSIs across the globe is a key factor driving the growth of the global AI & advanced ML in BFSI market.
Generative AI market is anticipated to grow at a considerable CAGR of 48.5% during the forecast period. Generative artificial intelligence (AI) is a type of AI that can generate new content, such as text, images, or videos, in response to prompts. Generative AI models learn the patterns and structure of their input training data and then generate new data that has similar characteristics. Generative AI models are trained on large datasets of text, code, or images. As more and more data becomes available, generative AI models can produce more realistic and creative content.
Artificial intelligence in energy market is anticipated to grow at a CAGR of 14.5% during the forecast period (2023-2030). Artificial intelligence holds considerable potential to improve power generation, transmission, distribution, and consumption. The energy sector in both emerging markets and advanced economies continues to increase efficiency, transparency, affordability, and the integration of renewable energy sources in power systems. Various company has launched innovating products by leveraging AI to autonomously analyze and predict network traffic patterns enabling operators to adjust resources to required capacity and performance, resulting in considerable power usage reductions.
Composite AI market is anticipated to grow at a significant CAGR of 35.4% during the forecast period. The market growth is attributed to factors such as increasing availability of data, increasing regulatory support, increasing investments in research and development, growing demand for IoT-based products and services, and competitive advantage among others. Companies and government organizations are collaborating with AI solutions providers to make better decisions and manage large amounts of data.
AI in Supply Chain market is anticipated to grow at a CAGR of 38.8% during the forecast period (2023-2030). The market’s growth is attributed to the increasing demand for AI knowledge in supply chain. There is an increased need for personnel who possess knowledge and experience in AI technologies and how to apply them to supply chain processes. Companies are recognizing the necessity of improving the AI-related skills of their employees.
AI image generator market is anticipated to grow at a significant CAGR of 17.1% during the forecast period (2023-2030). The growing demand for AI image generator in media and entertainment industry is a key factor driving the growth of the global AI image generator market. With an increased use of AI in marketing and advertising such as AI-generated images quickly produce campaign visuals. The growing adoption of AI with text-to-image-based generative artificial intelligence has grown popular.
Military cloud computing market is anticipated to grow at a considerable CAGR of 12.2% during the forecast period. Military cloud computing is a network-based virtualized resource that allows defense agencies to access resources from around the world. It allows agencies to share resources without investing in physical infrastructure and only pay for the services they use. One of the key factors deriving the growth of the market is the rising cyberwarfare threats. Military organizations are facing a growing threat from cyberattacks.
Wearable artificial intelligence (AI) market is anticipated to grow at a significant CAGR of 15.3% during the forecast period (2024-2031). The market growth is attributed to the growing demand for wearable health and wellness devices, such as fitness trackers and smartwatches, which are practical ways to measure steps, heart rate, and sleep quality. The growing interest of an individual in keeping an eye on their health and well-being driving the growth of the wearable AI market. These devices also include social features such as challenges and rewards, as well as gamification elements, to keep users engaged and inspired to maintain an active lifestyle.
AI governance market is anticipated to grow at a CAGR of 41.6% during the forecast period (2023-2030). The market’s growth is attributed to adaptability and competitive advantage. AI Governance encourages innovation while managing risks. Organizations can comfortably experiment with AI and achieve a competitive edge by resolving ethical and regulatory problems. moreover, the major players serving the are continuously focusing on developing innovative and new solutions and services to cater the rising demand of AI governance solutions.
AI in life science analytics market is anticipated to grow at a CAGR of 9.7% during the forecast period (2023-2030). The increasing adoption of Al in healthcare industry is expected to propel the growth of Al in the life science analytics market. It involves technologies such as machine learning (ML) and deep learning processes, which are frequently mentioned along with AI. Life science analytics, such as drug discovery, clinical trials, medical diagnosis, patient monitoring, and personalized medicine are the key fields utilizing AI and other technologies extensively.
Artificial intelligence in cancer diagnostics market is anticipated to grow at a CAGR of 32.5% during the forecast period (2023-2030). Artificial Intelligence (AI) in cancer diagnostics is an automated software used for early cancer diagnostics with the help of cancer detection at early stages, proper treatment can be provided to the patients, resulting in low death rates. Several governments have increased their healthcare Information Technology (IT) expenditure, which in turn to improve healthcare infrastructure around the globe.
AI-enabled imaging modalities market is anticipated to grow at a CAGR of 35.0% during the forecast period. The growth of the market is attributed to factors such as technological advancements in AI and imaging modalities, rising demand for improved diagnostic accuracy, and increasing prevalence of chronic diseases. Further, the integration of AI into imaging modalities is expected to enhance efficiency, streamline workflows, and enable better patient outcomes.
AI sensor market is anticipated to grow at a CAGR of 41.6% during the forecast period (2023–2030). The market growth is attributed to the increasing demand for smart security, and smart cameras equipped with AI capabilities are becoming increasingly popular. The cameras helps in improving the security solutions along with offering more accurate threat detection and less errors, leading to the development of more effective surveillance system. Consequently, the key market players are focusing on innovating new products to cater to the demand for security cameras.
AI in precision medicine market is anticipated to grow at a CAGR of 19.2% during the forecast period (2023-2030). Precision medicine uses an individual's unique clinical, molecular and lifestyle information to guide disease diagnosis, treatment and prevention for cancer, inherited diseases and other complex disorders. The market growth is primarily driven by the increasing investments in R&D along with the rising adoption of personalized medications.
AI in medical writing market is anticipated to grow at a CAGR of 16.1% during the forecast period (2023-2030). AI in medical writing is a highly specialized field that encompasses the art and science of content writing and clinical research. It involves the production of well-structured scientific resources including clinical research papers, web content for the healthcare industry, periodicals, and journals, among others.
AI in diagnostics market is anticipated to grow at a CAGR of 23. 5% during the forecast period (2023–2030). The expansion of the market is driven by the global reduction in healthcare expenses. The implementation of AI for early disease detection contributes to significant financial savings. As the early detection has the potential to reduce the necessity for expensive therapies and can hamper the progression of diseases. Medical costs can also be reduced by employing AI technology in that manner.
AI in project management market is anticipated to grow at a CAGR of 17.4% during the forecast period (2023-2030). AI in project management is an automated software that can be described as the ability of machines to learn and work on their own, as well as to the ability of computers to analyze large amounts of data and make decisions based on that data. In project management, AI can be used to help manage projects by automating tasks, analyzing data, and making decisions.
AI in Computer Vision market is anticipated to grow at a CAGR of 36.1% during the forecast period (2023-2030). AI in computer vision is an automated software that enables computers and systems to generate meaningful information from digital images, videos, and other visual inputs. Such extracted information allows to take actions and make recommendations based on that information.
Artificial intelligence as a service market size was valued at $7.7 billion in 2022, and is projected to reach $96.1 billion by 2030, registering a CAGR of 37.10% during the forecast period (2023-2030). With the increasing number of enterprises and competition, companies are rigorously trying to integrate artificial intelligence (AI) technology into their application, business, analytics, and services.
AI in cybersecurity market is anticipated to grow at a CAGR of 23.6% during the forecast period. The growing establishment of start-ups coupled with government initiatives across the globe is the major factor driving the growth of the market. Start-ups are continuously engaged in launching new AI-based technology to reduce security threats. For instance, in May 2022, IEM Labs, a Kolkata-based cybersecurity start-up launched a plagiarism checker named IEMSecure.
AI in aviation market is anticipated to grow at a CAGR of 42.1% during the forecast period. The growing start-up initiatives across the globe is the major factor driving the growth of the market. To reduce the global challenges caused by fossil fuels and pollution, start-up companies are developing aircraft powered by AI. For instance, in June 2022, BON V Technology, a start-up in Odisha developed the AI-powered electric aircraft RM001, which is a smart, sustainable, and safe mode of transportation.
Blockchain AI market is anticipated to grow at a CAGR of 24.0% during the forecast period (2024-2031). The blockchain AI market comprises the integration of blockchain (decentralized ledger technology) with AI's (artificial intelligence) data processing, pattern recognition, and decision-making capabilities. The combination results in improved security, transparency, and efficiency when managing data and transactions. The global market growth is driven by rising data security concerns, advancements in AI and blockchain technologies, and the growing adoption of blockchain AI solutions in data-intensive and sensitive sectors such as BFSI and the supply chain among others.
Augmented intelligence market is anticipated to grow at a CAGR of 23.5% during the forecast period (2024-2031). The market is rapidly growing owing to technological advancements, increasing demand across industries, cloud computing adoption, and strong government and regulatory support. The focus on ethical and secure AI, enhanced data availability, competitive advantage, and collaborative ecosystem development are key factors driving the market forward. AI-driven diagnostics, personalized medicine, predictive analytics, and cloud computing are revolutionizing patient care, manufacturing, and finance sectors. The market is also gaining a competitive edge through business intelligence, innovation, and efficiency improvements.
Threat intelligence market is anticipated to grow at a significant CAGR of 18.9% during the forecast period (2024-2031). The growth of the global threat intelligence market is being driven by the rise in cyber threats, the need for regulatory compliance, the adoption of cloud technologies, and the integration of AI and machine learning. Additionally, automation and orchestration are becoming essential for efficient threat intelligence operations, and sector-specific demands, such as those in healthcare and smart city projects, are further contributing to the market's expansion.
The global conversational AI market is anticipated to grow at a significant CAGR of 20.5% during the forecast period (2021-2027). One of the major drivers of the conversational AI market is the significantly increasing demand of conversational-AI for consumer support services across the globe.
The global virtual reality gaming accessories market is expected to grow at a significant CAGR during the forecast period (2021-2027). The smartphone era has changed the way people interact with technology. Smartphones now control almost every part of daily life, including commercial and financial transactions, e-commerce, and even gaming, with individuals relying on their mobile devices to complete ordinary day-to-day operations.
The Global Smart Virtual Assistance Market is expected to grow at a significant CAGR during the forecast period (2021-2027). A smart virtual assistant (SVA) is a piece of software created using artificial intelligence.
The global automatic content recognition market is anticipated to grow at a significant CAGR during the forecast period. Automatic content recognition is a software-based identification technique for identifying content pieces on a media device or within a short distance.
The global ai-enabled imaging modality market is expected to grow at a significant CAGR during the forecast period. Rising investment in the healthcare ecosystem and the growing ageing population will drive market growth.
The Global Active Railway Wheel Sensor Market is estimated to grow at a significant CAGR during the forecast period. The main feature of a railway axle counter is the wheel sensor. The traditional active magnetic steel axle counter approach suffers from a lack of precision.
The US AI in e-commerce market was valued at $552 million in 2018 and is growing at a CAGR of 26.0% during the forecast period. The market growth is attributed to the presence of a well-established ICT infrastructure in the country.
North American AI in e-commerce market was valued at $600 million in 2018 and is growing at a CAGR of 26.1% during the forecast period. The market growth is attributed to the presence of a well-established ICT infrastructure in the region.
The European AI in e-commerce market was valued at $280 million in 2018 and is growing at a CAGR of 25.3% during the forecast period. The growing e-commerce industry, increasing cross-border e-commerce sales, and increasing industrial automation are the major factors that are driving the growth of AI in e-commerce market in the region.
The Asia-Pacific AI in e-commerce market was valued at $385 million in 2018 and is growing at a CAGR of 26.7% during the forecast period. The increasing investment from prominent e-commerce companies, such as Alibaba, Amazon, and Walmart, is expected to augment the demand for AI in e-commerce in the Asia-Pacific region during the forecast period.
The collective intelligence platform market is projected to grow at a significant CAGR during the forecast period (2019-2025). The increasing traffic on social media platforms is anticipated to be a major factor to drive the global collective intelligence platform market. Nowadays, social media management applications are being increasingly used to get deep insights related to the target audience of businesses.
AI in drug discovery market is anticipated to grow at an exponential CAGR of 40.3% during the forecast period (2024-2031). The market growth is attributed to the increased demand for drug optimization, impactful target emphasis, and virtual screening, Al speeds up research by encouraging more diverse testing globally. According to the US Food and Drug Administration (FDA) Center for Drug Evaluation and Research (CDER), in 2023, 55 novel drugs were approved and marketed in the US. In 2023, 28 of 55, or 51.0% of novel drug approvals received orphan drug designation as they target rare diseases, including degenerative disease that damages the nervous system, Candidemia, and invasive candidiasis, which are serious and life-threatening fungal infections, Rett syndrome, a genetic, neurological disorder that affects brain development.
AI in BFSI market is anticipated to grow at an exponential CAGR of 34.3% during the forecast period (2024-2031). The market growth is attributed to growing technological advancements such as chatbots, robo-advisors for financial products, and smart wallets with digitalization of banking services to enhance customer engagement and AI-powered virtual assistants to automate services to customers globally. According to the Organization for Economic Cooperation and Development (OECD), in 2021, growth in the deployment of AI applications is evidenced by increased global spending on AI in the private sector, coupled with increased research activity on AI technology. Global spending on AI is forecast to double over the next four years, growing from $50.1 billion in 2020 to more than $110.0 billion in 2024.
AI in defense market is anticipated to grow at an exponential CAGR of 36.1% during the forecast period (2024-2031). The market growth is attributed to the increasing adoption of modern Al-enabled systems that improve military systems' effectiveness and fortify their capabilities in areas of warfare globally. Emerging countries leverage AI across various domains, revolutionizing threat assessment, logistics optimization, cybersecurity, and surveillance with AI-powered UAVs with investment in AI in defense. For instance, in January 2024, according to the Observer Research Foundation (ORF), the Ministry of Defence (MoD) committed an annual budget of INR 100.0 crore ($12.0 million) for the next five years to the Defence Artificial Intelligence Project Agency (DAIPA).
Artificial Intelligence (AI) in construction market is anticipated to grow at a CAGR of 38.7% during the forecast period (2023-2030). The factors such as the demand for efficient planning and other processes in construction advanced technology such as artificial intelligence is driving the growth of AI in the construction market. In addition, the rising need for construction safety has shown a positive impact on the growth of the market.
The
Asia-Pacific wearable AI market is estimated to grow significantly at a CAGR of
more than 29% during the forecast period. The economies that are contributing
to the market growth in the region include China, India, and Japan. The market
in the region is largely driven by investment from the AI companies and a
significant rise to big data.
China
Wearable AI market is estimated to grow significantly at a CAGR of 29.6% during
the forecast period. There are a lot of opportunities available in AI
technology in China.
The
European Wearable AI market is estimated to grow significantly at a CAGR of
28.3% during the forecast period. The increasing proliferation of advanced
technologies such as high penetration of 5G smartphones and IoT in Europe is
one of the key factors to drive the growth of the wearable AI market.
German
Wearable AI market is estimated to grow significantly at a CAGR of more than
30% during the forecast period. The presence of well-established and start-up
companies including Wandlebots, 8sense, and Xbird among others is one of the
major factors to drive the growth of the wearable AI market in the country.
Indian
Wearable AI market is estimated to grow significantly at a CAGR of 33.3% during
the forecast period. India is one of the fastest emerging economies for
wearable AI in the Asia-Pacific. The growth of the market in the region is
attributed to the adoption of various government policies to drive AI
innovation, and proliferation in various sectors such as information &
technology, healthcare, consumer goods among many other sectors.
The
North American Wearable AI market is estimated to grow significantly at a CAGR
of over 28% during the forecast period. The North American market for wearable
AI includes the analysis of two major countries; the US and Canada. The factors
that are contributing significantly to the market growth include R&D and
high expenditure by the government as well as private organizations in AI
technology.
UK
Wearable AI market is estimated to grow significantly at a CAGR of over 29%
during the forecast period. The rising demand for wearable AI along with the
rising disposable income of the population of UK is one of the key factors to
promote market growth.
The US Wearable AI market is
estimated to grow significantly at a CAGR of over 28.6% during the forecast
period. The factors contributing to the US wearbale AI market include
investments in R&D, high expenditure on IT and ICT industry by government and
private investors, and the presence of key players.
The US AI in manufacturing market is estimated to generate $550 million in 2018. The market in the US is estimated to grow at a significant CAGR of more than 30% during the forecast period. The market growth is attributed to the factors such as investments in R&D, high expenditure on IT and ICT industry, and the presence of key players.
UK AI in manufacturing market is estimated to grow at a CAGR of 32.3% during the forecast period. UK is the 3rd largest economy after Germany and France in Europe. According to the government of UK (gov.uk), over 50 leading companies and organizations have contributed to the development of the AI sector worth around $1.3 billion, including almost $390 million of private sector investment.
The North American AI in manufactuirng market is estimated to grow significantly at a CAGR of 33.4% during the forecast period. North American market for AI in manufacturing include the analysis of two major countries including the US and Canada.
India AI in manufacturing market is estimated to grow at a CAGR of around 36% during the forecast period. India is the fastest-growing economy for AI in manufacturing in the Asia-Pacific region. Adoption of various government policies to drive AI innovation such as digital India, and proliferation in various sectors such as IT, healthcare, and consumer goods give a boost to the growth of the market.
German AI in manufacturing market is estimated to grow at a CAGR of over 33% during the forecast period. The presence of well-established companies is one of the major factors driving the growth of AI in the manufacturing market in the country.
European AI in manufacturing market is estimated to grow significantly at a CAGR of 32.6% during the forecast period. Europe has a huge potential for the growth of AI in manufacturing owing to the significant investment made in the industry.
China AI in manufacturing market is estimated to grow significantly at a CAGR of over 35% during the forecast period. China has a huge potential for the grwoth of the market in the near future. One of the major factors contrivuting to the growth of the AI in manufacturingmarket in China is “Made in China” strategy.
Asia-Pacific AI in manufacturing market is estimated to grow significantly at a CAGR of 34.8% during the forecast period. The major countries which will contribute to the market include China, India, and Japan. China is the biggest player in AI in manufacturing market.
The US AI in image recognition market is estimated to grow significantly at a CAGR of more than 28% during the forecast period. The factors that are contributing significantly to the market growth investments in R&D, high expenditure on IT and ICT industry by government and private investors, and the presence of key players.
UK AI in image recognition market is estimated to grow significantly at a CAGR of 28.4% during the forecast period. UK is the third-largest economy in Europe after Germany and France, majorly owing to its trading power and financial businesses. The country is undergoing the process of exiting the European Union and could create its new independent rules and regulations.
The North American AI in image recognition market is estimated to grow significantly at a CAGR of 28.9% during the forecast period. The North American market for AI in Image Recognition includes the analysis of two major countries; the US and Canada.
Germany AI in image recognition market is estimated to grow significantly at a CAGR of over 28% during the forecast period. Germany is the fourth-largest economy globally and largest in Europe. The country is expected to be the largest player in AI in image recognition in the region.
The European AI in image recognition market is estimated to grow at a CAGR of over 27% during the forecast period. Europe has a huge potential for the growth of AI owing to an advanced economy and significant investment. The EU launched its research and innovation program as Horizon 2020 in 2014.
Asia-Pacific AI in image recognition market is estimated to grow significantly at a CAGR of more than 29% during the forecast period. The major countries which will contribute to the market include China, India, and Japan. China is the biggest player in AI in the image recognition market. The market in the region is largely driven by the investment from the AI companies and a significant rise to the big data.
The US AI in healthcare market is estimated to grow significantly at a CAGR of 50.2% during the forecast period. The factors that are contributing significantly to the market growth include R&D, and high expenditure by the government as well as a private organization in AI technology.
UK AI in healthcare market is estimated to grow significantly at a CAGR of 55.4% during the forecast period. Healthcare industry in the UK is well developed and established due to the presence of separate publicly funded healthcare of England, Scotland, Northern Ireland, and Wales each; funded by separate government and parliament.
The North American AI in healthcare market is estimated to grow significantly at a CAGR of 50.4% during the forecast period. The North American market for AI in healthcare is analyzed based on countries such as the US and Canada. The factors that are contributing significantly to the market growth include R&D, and high expenditure by the government as well as a private organization in AI technology.
Indian AI in healthcare market is estimated to grow significantly at a CAGR of 50.9% during the forecast period. India is one of the fastest emerging nations for AI in healthcare market in Asia-Pacific region. The Indian pharmaceutical industry has been consistently growing making India as a potential market for the adoption of Artificial Intelligence in healthcare.
Germany AI in healthcare market is estimated to grow significantly at a CAGR of 51.6% during the forecast period. The presence of well-established and start-up companies is one of the major factors driving the growth of the AI in healthcare market in the country.
The European AI in healthcare market is estimated to grow significantly at a CAGR of 53.5% during the forecast period. Europe has a huge potential for the growth of AI owing to an advanced economy and significant investment. UK, Spain, Germany, France, and Italy are the major economies of Europe which are contributing significantly towards the growth of the market.
China's AI in healthcare market is estimated to grow significantly at a CAGR of 52.8% during the forecast period. China’s market has both medium and long-term potential due to its large market size, aging population, fluctuating disease profile and rapidly improving life.
Asia-Pacific AI in healthcare market is estimated to grow significantly at a CAGR of 52.3% during the forecast period. The major countries which will contribute in the market include China, India and Japan. China is the biggest market for AI market.
The US Artificial Intelligence market is estimated to grow significantly at a CAGR of 35.9% during the forecast period. The factors that are contributing significantly to the market growth include investments in R&D, high information and technology expenditure, and the presence of key players.
UK Artificial Intelligence market is estimated to grow significantly at a CAGR of 35.9% during the forecast period. UK is the 3rd largest economy after Germany and France in Europe. The digitalization of banking, insurance, healthcare, and business services in the country is the key driver for the growth of the AI in the country.
The North American Artificial Intelligence market is estimated to grow significantly at a CAGR of 35.5% during the forecast period. The North American market for AI is analyzed based on countries such as the US and Canada. The factors that are contributing significantly to the market growth include R&D, and high expenditure by the government as well as a private organization in AI technology.
India Artificial Intelligence market is estimated to grow significantly at a CAGR of 37.2% during the forecast period. There are a lot of opportunities available in AI technology in India with the increasing adoption of technologies. India is one of the fastest emerging economies for AI in the Asia-Pacific region.
Germany Artificial Intelligence market is estimated to grow significantly at a CAGR of 34.1% during the forecast period. The presence of well-established and start-up companies is one of the major factors driving the growth of the AI market in the country.
The European Artificial Intelligence market is estimated to grow significantly at a CAGR of 34.4% during the forecast period. Europe has a huge potential for the growth of AI owing to an advanced economy and significant investment.
China Artificial Intelligence market is estimated to grow significantly at a CAGR of 37.0% during the forecast period. There are a lot of opportunities available in AI technology in China with the increasing adoption of technologies.
Asia-Pacific Artificial Intelligence market is estimated to grow significantly at a CAGR of 36.6% during the forecast period. The major countries which will contribute in the market include China, India and Japan. China is the biggest market for AI market.
AI chipsets market is anticipated to grow at a CAGR of 40.5% during the forecast period. The rising collaboration of key market players to deliver the technological solution is driving the AI chipset market during the forecast period. For instance, in September 2020, Xilinx, Inc. collaborated with Continental AG to manufacture a 4D imaging radar for the automotive industry.
Artificial Intelligence (AI) in image recognition market is anticipated to grow at a significant CAGR of 15.3% during the forecast period (2024-2031). The ongoing developments in AI technology have driven the growth of the global AI in image recognition market. The developments in computer vision, machine learning, and artificial intelligence are made possible by deep learning models, which allow image recognition systems to continuously get better by being exposed to large datasets globally.
Artificial intelligence (AI) in agriculture market is anticipated to grow at a CAGR of 26.1% during the forecast period. The growing involvement of start-ups in AI in agriculture market across the globe is the major factor driving the growth of the market. For instance, in May 2022, Cropin Technology Solutions Pvt Ltd, a Bengaluru-based start-up that provides smart SaaS-based solutions to agribusinesses globally set up an intelligent agriculture cloud, and new AI labs.
Artificial Intelligence (AI) in mining market is anticipated to grow at a significant CAGR of 14.8% during the forecast period (2024-2031). The market growth is attributed to the growing adoption of AI in the mining industry which prompts and improves decision-making about the health and safety of frontline workers. Reducing exposure to hazardous situations and changing the entire working process to be more process-oriented is further driving the growth of AI in mining market. According to the Artificial Intelligence Index Report 2023, the number of pattern recognition papers has roughly doubled while the number of machine learning papers has roughly quadrupled. Following those two topic areas, in 2021, the next most published AI fields of study were computer vision (30,075), algorithm (21,527), and data mining (19,181).
Artificial Intelligence (AI) in e-commerce market is anticipated to grow at a significant CAGR of 14.8% during the forecast period (2024-2031). Artificial intelligence (AI) can help e-commerce businesses improve the customer experience, increase sales, and stay competitive. According to the Asian Development Bank, in November 2023, E-commerce will continue to grow in the global economy, with a share of global gross domestic product (GDP) of 3.8% in 2019 and 5.6% in 2022 and is forecast to reach 6.4% in 2025. The global retail e-commerce market sale was valued at $5.2 trillion in 2021 and is forecast to reach $7.5 trillion by 2025.
Artificial intelligence (AI) in energy management market is anticipated to grow at a significant CAGR of 16.3% during the forecast period (2024-2031). AI optimizes the storage and distribution of energy from renewable sources. By considering various factors such as demand, supply, price, and grid conditions, AI algorithms determine the best times to store energy, when to release it, and how much to distribute. According to the International Energy Agency (IEA), in November 2023, AI was an increasingly critical resource. A recent estimate suggests that AI already serves more than 50 different uses in the energy system and that the market for the technology in the sector could be worth up to $13.0 billion.
Artificial intelligence (AI) in environmental protection market is anticipated to grow at a significant CAGR of 17.3% during the forecast period (2024-2031). According to the World Economic Forum, the use of AI can contribute to the fight against climate change. Existing AI systems include tools that predict the weather, track icebergs, and identify pollution. AI can also be used to improve agriculture and reduce its environmental impact. According to the US Environmental Protection Agency, in February 2024, waste is a big producer of methane and is responsible for 16.0% of global greenhouse gas (GHG) emissions.
Artificial intelligence (AI) in marketing market is anticipated to grow at a significant CAGR of 15.5% during the forecast period (2024-2031). The market growth is attributed to the growing demand for Al-based marketing and sales solutions, the expanding usage of social media for advertising, and the growing use of customer-centric marketing methods. According to the Artificial Intelligence Index Report 2023, the global AI private investment was $91.9 billion in 2022. During the last decade, AI investment has significantly increased. In 2022, the amount of private investment in AI was 18 times greater than it was in 2013.
Artificial intelligence (AI) in the education market is anticipated to grow at a significant CAGR of 16.6% during the forecast period (2024-2031). The market growth is attributed to the growing acceptance of online learning for skill development. The rising usage of advanced AI technologies such as deep learning, machine learning, and natural language processing in training and educational software to enhance user experience and performance along with increasing investment in the private sector making a significant contribution to the global AI in Education market growth.