Artificial intelligence (AI) refers to systems or machines that mimic human intelligence to perform tasks and can iteratively improve themselves based on the information they collect. In general, AI includes natural language and processing, visual perception and pattern recognition, and decision making. These processes in combination give AI enormous potential in multiple disciplines and across many economic sectors. The application of AI and machine learning methods has produced demonstrable results in financial and manufacturing sectors and pharma leaders were quick to latch on to its usable benefits. The global artificial intelligence market size is projected to grow by USD 352 billion from 2022 to 2028, registering a CAGR of 33.9 percent, according to a new report by Gen Consulting Company.

This industry report offers market estimates of the global market, followed by a detailed analysis of the component, deployment mode, technology, end user, and region. The global market data on artificial intelligence can be segmented by component: hardware, services, software. The software segment captured the largest share of the market in 2021. Artificial intelligence market is further segmented by deployment mode: on-premise, cloud. The on-premise segment held the largest share of the global artificial intelligence market in 2021 and is anticipated to hold its share during the forecast period. Based on technology, the artificial intelligence market is segmented into: computer vision, context-aware computing, machine learning, natural language processing. In 2021, the machine learning segment made up the largest share of revenue generated by the artificial intelligence market. On the basis of end user, the artificial intelligence market also can be divided into: agriculture, automotive, BFSI, healthcare and life sciences, IT and telecom, manufacturing, marketing, retail, security, others. Among these, the retail segment was accounted for the highest revenue generator in 2021. Artificial intelligence market by region is categorized into: Asia Pacific, Europe, North America, MEA (Middle East and Africa), Latin America.

The global artificial intelligence market is highly competitive. The report also includes the profiles of leading companies such as Alphabet Inc., Amazon.com Inc., Appier Inc., Baidu Inc., Cisco Systems Inc., Cylance Inc., Dell Technologies Inc., Didi Chuxing Technology Co. Ltd., General Electric Company (GE), IBM Corporation, Intel Corporation, Meta Platforms Inc., Micron Technology Inc., Microsoft Corporation, Nvidia Corporation, Oracle Corporation, Progress Software Corporation, Rockwell Automation Inc., Salesforce.com Inc., Samsung Electronics Co. Ltd., SAP SE, Siemens AG, SK hynix Inc., Twitter Inc., Xilinx Inc.

The data-centric report focuses on market trends, status and outlook for segments. With comprehensive market assessment across the major geographies, the report is a valuable asset for the existing players, new entrants and the future investors.

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