Artificial Intelligence Products market analysis with opportunity segments
Artificial Intelligence Products Market Report 2024 – Market Size, Trends, And Forecast 2024-2033
The Business Research Company’s Artificial Intelligence Products Global Market Report 2024 – Market Size, Trends, And Forecast 2024-2033
LONDON, GREATER LONDON, UK, July 1, 2024 /EINPresswire.com/ -- The artificial intelligence products market has experienced robust growth in recent years, expanding from $2.35 billion in 2023 to $2.53 billion in 2024 at a compound annual growth rate (CAGR) of 7.5%. The growth in the historic period can be attributed to increased computing power, rise of big data, government investments in research and development, growing adoption of cloud computing.
Strong Future Growth Anticipated
The artificial intelligence products market is projected to continue its strong growth, reaching $3.34 billion in 2028 at a compound annual growth rate (CAGR) of 7.2%. The growth in the forecast period can be attributed to exponential growth in data generation, AI integration in business processes, Focus on responsible AI, increasing AI in cybersecurity.
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Growth driver of the artificial intelligence products market
The increasing government initiatives are expected to fuel the growth of the artificial intelligence products market going forward. Government initiatives refer to specific actions, programs, or policies undertaken by a government to address issues, achieve specific goals, or bring about positive changes in various aspects of society. Governments act as facilitators, bringing together researchers, industry players, and civil society organizations to collaborate to develop AI products.
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Major Players and Market Trends
Key players in the artificial intelligence products market include Apple Inc., Alphabet Inc., Microsoft Corporation, Tencent Holdings Ltd., Amazon Web Services Inc., Siemens AG, Intel Corporation, International Business Machines Corporation, NVIDIA Corporation, Salesforce Inc., Advanced Micro Devices Inc., Baidu Inc., Zebra Technologies Corp., Autodesk Inc., Arm Holdings plc, Palantir Technologies Inc., Databricks Inc., UiPath, Open AI, Ayasdi AI LLC, AiCure, Enlitic Inc., Clarifai Inc., Sensely Inc., Atomwise Inc..
Major companies operating in the artificial intelligence products market are developing innovative products with advanced technologies, such as application programming interfaces, to gain a competitive edge in the market. The application programming interface is a software interface that enables developers to integrate automatic speech recognition (ASR) capabilities into their applications or services.
Segments:
1) By Product Type: Computer And GPU Chip Hardware, Cloud Hardware, Other Products
2) By Enterprise Size: Large Enterprise, Small And Medium-Sized Enterprise
3) By Application: Media And Advertising, Healthcare, Automotive And Transportation, Other Applications
Geographical Insights: North America Leading the Market
North America was the largest region in the artificial intelligence products market in 2023. Asia-Pacific is expected to be the fastest-growing region during the forecast period, driven by expanding healthcare facilities and increasing awareness of the benefits of artificial intelligence products.
Artificial Intelligence Products Market Definition
Artificial intelligence (AI) products refer to software and hardware that incorporate AI technologies to perform tasks that typically require human intelligence. AI products have the capability to automate routine tasks, allowing for enhanced efficiency and productivity in various industries. AI products leverage vast amounts of data to provide valuable insights for informed decision-making.
Artificial Intelligence Products Global Market Report 2024 from TBRC covers the following information:
•Market size data for the forecast period: Historical and Future
•Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
•Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
The Artificial Intelligence Products Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on artificial intelligence products market size, artificial intelligence products market drivers and trends, artificial intelligence products market major players, competitors' revenues, market positioning, and market growth across geographies. The artificial intelligence products market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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