Emergen Research has recently published a detailed report on the global Artificial Intelligence Systems Spending market formulated through extensive primary and secondary research. The report offers in-depth knowledge and analysis of the Artificial Intelligence Systems Spending market through verified and validated data curated to offer accurate insights. The report also offers a region wise and country wise analysis of the Artificial Intelligence Systems Spending market and contains a detailed analysis of the key elements influencing the growth of the market in the region. The research study also contains historical, current, and forecast estimations for each sector, segment, sub-segment, and regions.
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The global Artificial Intelligence systems spending market is forecast to reach a market size of USD 767.60 Billion by 2028, and register a significantly high CAGR. Growth of the global Artificial Intelligence systems spending market in terms of revenue is expected to increase significantly during the forecast period due to rising demand for AI solutions in the education sector. Rising adoption of AI in the BFSI industry to provide enhanced customer service is also another major factor expected to further boost global Artificial Intelligence systems spending market growth during the forecast period. Rising focus of governments on digital economy transformation is expected to further support market growth going ahead.
However, high cost of AI solutions is expected to restrain adoption, and in turn, impact growth of the global Artificial Intelligence systems spending market growth to a certain extent during the forecast period.
The report also discusses the key players involved in the market such as Google LLC, Microsoft Corporation, Apple Inc., Facebook, Inc., International Business Machines Corporation, Intel Corporation, Wipro Limited, Accenture PLC, Infosys Limited, and Salesforce.com Inc. as well as new entrants in the market. It focuses on the recent mergers & acquisitions, joint ventures, collaborations, partnerships, licensing agreements, brand promotions, and product launches, among others. The report also provides details about the company overview, business expansion plans, product portfolio, manufacturing and production capacity, global market position, financial status, and consumer base.
Key Highlights from the Report
Software segment is expected to lead in terms of revenue growth, and register a CAGR of 47.6% during the forecast period. This high growth rate can be attributed to increasing implementation of AI-enabled chatbot solutions to improve operational activities and customer service.
Deep learning segment is projected to account for largest market share over the forecast period due to growing use of deep learning technology to develop AI-enabled advanced service bot and virtual assistance.
In terms of revenue contribution to the global Artificial Intelligence systems spending market, the automated customer service segment is projected to lead during the forecast period as a result of increasing implementation of AI-based platforms to optimize customer service activities in different end-use industries.
Emergen Research has segmented the global Artificial Intelligence systems spending market on the basis of component, technology, application, end-use, and region.
Component Outlook (Revenue, USD Billion; 2021–2028)
Software
Applications
Platforms
Hardware
Server
Storage
Service
IT service
Business service
Technology Outlook (Revenue, USD Billion; 2021–2028)
Natural language processing
Deep learning
Artificial general intelligence (AGI)
Machine vision
Artificial super intelligence (ASI)
Machine learning
Application Outlook (Revenue, USD Billion; 2021–2028)
Automated threat intelligence & prevention systems
Fraud analysis & investigation
Automated customer service
Others
End-use Outlook (Revenue, USD Billion; 2021–2028)
Healthcare
BFSI
Transportation
Education
Telecommunications
Media & entertainment
Retail
Manufacturing
Construction
Information technology
Others
The competitive analysis also includes regional analysis of major geographical regions. The report covers regions such as North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa. The report also offers a country wise analysis to impart better understanding of the global Artificial Intelligence Systems Spending market with regards to market share, market size, production and consumption ratio, product launches and R&D activities, investment opportunities, and presence of key players in the region.
Objectives of the Report:
Study of the global Artificial Intelligence Systems Spending market size by key regions, types, and applications with reference to historical data (2017-2019) and forecast (2020-2027)
Industrial structure analysis of the Artificial Intelligence Systems Spending market by identification of various sub-segments
Extensive analysis of key market players along with their SWOT analysis
Competitive landscape bench marking
Analysis of Artificial Intelligence Systems Spending market based on growth trends, futuristic outlook, and contribution to the total growth of the market
Analysis of drivers, constraints, opportunities, challenges, and risks in the global Artificial Intelligence Systems Spending market
Comprehensive analysis of competitive developments such as expansions, agreements, new product launches, and other strategic alliances
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