Professional services in AI Market by AI Domain, Application, Organization Size, Vertical

List of Tables

The Professional services in AI Market was valued at USD 7.16 billion in 2023, expected to reach USD 8.63 billion in 2024, and is projected to grow at a CAGR of 22.21%, to USD 29.18 billion by 2030.

The scope of professional services in AI encompasses a broad range of functions, including consulting, implementation, integration, and support services that help organizations adopt and utilize AI technologies. This sector is defined by its focus on facilitating the deployment and operationalization of AI solutions across various industries, such as healthcare, finance, retail, and manufacturing. The necessity of these services stems from the complexity of AI technologies and the expertise required to maximize their potential value, addressing the intricate challenges organizations face during AI adoption. Application areas are diverse, extending to improving customer interactions through chatbots, optimizing supply chains with predictive analytics, and enhancing fraud detection systems. The end-use scope is vast, with industries aiming to leverage AI for operational efficiency, customer experience enhancement, and competitive advantage.

KEY MARKET STATISTICS
Base Year [2023]	USD 7.16 billion
Estimated Year [2024]	USD 8.63 billion
Forecast Year [2030]	USD 29.18 billion
CAGR (%)	22.21%

Key growth factors include increased digital transformation efforts, heightened competition, and rising demand for automation. Furthermore, the proliferation of data and advancements in AI technologies act as catalysts for market expansion. Latest opportunities lie in harnessing AI for industry-specific solutions and the development of ethical AI frameworks. Companies can capitalize on these opportunities by investing in workforce development and strategic partnerships to enhance technological capabilities. However, limitations include data privacy concerns, integration challenges with legacy systems, and the ongoing need for regulatory compliance. Market growth is also constrained by talent shortages in AI expertise.

Innovation and research opportunities in AI professional services are abundant, particularly in the development of advanced natural language processing tools and automated machine learning platforms. Additionally, the exploration of edge AI and AI-driven cybersecurity enhancements promises substantial business growth potential. The market is dynamic and evolving, exhibiting a robust competitive landscape where continuous technological advancements and strategic collaborations are crucial for sustained success. Organizations looking to thrive in this ecosystem must balance innovation with ethical considerations and data governance, ensuring responsible AI implementation that builds trust with consumers and stakeholders alike.

Market Dynamics: Unveiling Key Market Insights in the Rapidly Evolving Professional services in AI Market

The Professional services in AI Market is undergoing transformative changes driven by a dynamic interplay of supply and demand factors. Understanding these evolving market dynamics prepares business organizations to make informed investment decisions, refine strategic decisions, and seize new opportunities. By gaining a comprehensive view of these trends, business organizations can mitigate various risks across political, geographic, technical, social, and economic domains while also gaining a clearer understanding of consumer behavior and its impact on manufacturing costs and purchasing trends.

Market Drivers
- Increasing businesses focus to boost the operational productivity
- Significant demand for ML services as a SDK and API
- Broadening adoption of professional AI based services in BFSI and healthcare
Market Restraints
- Technical complexities and upfront cost associated with professional AL services
Market Opportunities
- Emerging startups landscape investing in AI services
- Increasing advancements and investment for AI based services
Market Challenges
- Limited infrastructure and lack of skilled professionals

Porter's Five Forces: A Strategic Tool for Navigating the Professional services in AI Market

Porter's five forces framework is a critical tool for understanding the competitive landscape of the Professional services in AI Market. It offers business organizations with a clear methodology for evaluating their competitive positioning and exploring strategic opportunities. This framework helps businesses assess the power dynamics within the market and determine the profitability of new ventures. With these insights, business organizations can leverage their strengths, address weaknesses, and avoid potential challenges, ensuring a more resilient market positioning.

PESTLE Analysis: Navigating External Influences in the Professional services in AI Market

External macro-environmental factors play a pivotal role in shaping the performance dynamics of the Professional services in AI Market. Political, Economic, Social, Technological, Legal, and Environmental factors analysis provides the necessary information to navigate these influences. By examining PESTLE factors, businesses can better understand potential risks and opportunities. This analysis enables business organizations to anticipate changes in regulations, consumer preferences, and economic trends, ensuring they are prepared to make proactive, forward-thinking decisions.

Market Share Analysis: Understanding the Competitive Landscape in the Professional services in AI Market

A detailed market share analysis in the Professional services in AI Market provides a comprehensive assessment of vendors' performance. Companies can identify their competitive positioning by comparing key metrics, including revenue, customer base, and growth rates. This analysis highlights market concentration, fragmentation, and trends in consolidation, offering vendors the insights required to make strategic decisions that enhance their position in an increasingly competitive landscape.

FPNV Positioning Matrix: Evaluating Vendors' Performance in the Professional services in AI Market

The Forefront, Pathfinder, Niche, Vital (FPNV) Positioning Matrix is a critical tool for evaluating vendors within the Professional services in AI Market. This matrix enables business organizations to make well-informed decisions that align with their goals by assessing vendors based on their business strategy and product satisfaction. The four quadrants provide a clear and precise segmentation of vendors, helping users identify the right partners and solutions that best fit their strategic objectives.

Strategy Analysis & Recommendation: Charting a Path to Success in the Professional services in AI Market

A strategic analysis of the Professional services in AI Market is essential for businesses looking to strengthen their global market presence. By reviewing key resources, capabilities, and performance indicators, business organizations can identify growth opportunities and work toward improvement. This approach helps businesses navigate challenges in the competitive landscape and ensures they are well-positioned to capitalize on newer opportunities and drive long-term success.

Key Company Profiles

The report delves into recent significant developments in the Professional services in AI Market, highlighting leading vendors and their innovative profiles. These include Accenture PLC, AI Professional Services Limited, Booz Allen Hamilton Inc., Cerence Inc., Cognizant Technology Solutions Corporation, Columbus, Databricks, Inc., Deloitte, Diveplane Corporation, Ernst & Young Global Limited, EXPERT.AI, Hewlett Packard Enterprise Development LP, IDC CEMA s.r.o., Infosys Limited, International Business Machines Corporation, KPMG International Limited, Kyndryl Inc., Lately, Inc., LivePerson, Inc., McKinsey & Company, Microsoft Corporation, NGS Global, LLC, NVIDIA Corporation, Open Text Corporation, People.ai Inc., ReadWrite, INC., SAP SE, ServiceNow, Inc., Tech Mahindra Limited, Velosio, LLC, Wipro Limited, and XFO Financials Inc. dba. Vic.ai.

Market Segmentation & Coverage

This research report categorizes the Professional services in AI Market to forecast the revenues and analyze trends in each of the following sub-markets:

Based on AI Domain, market is studied across Machine Learning & Deep Learning, Machine Vision & Hearing, Natural Language Processing (NLP), and Robotics & Expert Systems.
Based on Application, market is studied across Chatbots, Cyber Security, Human Resource Management, Intelligent CRM, Project & Resource Planning, Real Time & Predictive Business Intelligence, and Sales & Marketing Analytics.
Based on Organization Size, market is studied across Large Enterprises and Small & Medium-Sized Enterprises.
Based on Vertical, market is studied across Banking, Financial Services & Insurance, Energy & Utilities, Government, Healthcare & Life Sciences, IT & Telecommunication, Manufacturing, and Retail & Consumer Goods.
Based on Region, market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom.

The report offers a comprehensive analysis of the market, covering key focus areas:

1. Market Penetration: A detailed review of the current market environment, including extensive data from top industry players, evaluating their market reach and overall influence.

2. Market Development: Identifies growth opportunities in emerging markets and assesses expansion potential in established sectors, providing a strategic roadmap for future growth.

3. Market Diversification: Analyzes recent product launches, untapped geographic regions, major industry advancements, and strategic investments reshaping the market.

4. Competitive Assessment & Intelligence: Provides a thorough analysis of the competitive landscape, examining market share, business strategies, product portfolios, certifications, regulatory approvals, patent trends, and technological advancements of key players.

5. Product Development & Innovation: Highlights cutting-edge technologies, R&D activities, and product innovations expected to drive future market growth.

The report also answers critical questions to aid stakeholders in making informed decisions:

1. What is the current market size, and what is the forecasted growth?

2. Which products, segments, and regions offer the best investment opportunities?

3. What are the key technology trends and regulatory influences shaping the market?

4. How do leading vendors rank in terms of market share and competitive positioning?

5. What revenue sources and strategic opportunities drive vendors' market entry or exit strategies?

Product Code: MRR-4708BFC8B969

1. Preface

1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Stakeholders

2. Research Methodology

2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update

3. Executive Summary

4. Market Overview

5. Market Insights

5.1. Market Dynamics
- 5.1.1. Drivers
  - 5.1.1.1. Increasing businesses focus to boost the operational productivity
  - 5.1.1.2. Significant demand for ML services as a SDK and API
  - 5.1.1.3. Broadening adoption of professional AI based services in BFSI and healthcare
- 5.1.2. Restraints
  - 5.1.2.1. Technical complexities and upfront cost associated with professional AL services
- 5.1.3. Opportunities
  - 5.1.3.1. Emerging startups landscape investing in AI services
  - 5.1.3.2. Increasing advancements and investment for AI based services
- 5.1.4. Challenges
  - 5.1.4.1. Limited infrastructure and lack of skilled professionals
5.2. Market Segmentation Analysis
5.3. Porter's Five Forces Analysis
- 5.3.1. Threat of New Entrants
- 5.3.2. Threat of Substitutes
- 5.3.3. Bargaining Power of Customers
- 5.3.4. Bargaining Power of Suppliers
- 5.3.5. Industry Rivalry
5.4. PESTLE Analysis
- 5.4.1. Political
- 5.4.2. Economic
- 5.4.3. Social
- 5.4.4. Technological
- 5.4.5. Legal
- 5.4.6. Environmental

6. Professional services in AI Market, by AI Domain

6.1. Introduction
6.2. Machine Learning & Deep Learning
6.3. Machine Vision & Hearing
6.4. Natural Language Processing (NLP)
6.5. Robotics & Expert Systems

7. Professional services in AI Market, by Application

7.1. Introduction
7.2. Chatbots
7.3. Cyber Security
7.4. Human Resource Management
7.5. Intelligent CRM
7.6. Project & Resource Planning
7.7. Real Time & Predictive Business Intelligence
7.8. Sales & Marketing Analytics

8. Professional services in AI Market, by Organization Size

8.1. Introduction
8.2. Large Enterprises
8.3. Small & Medium-Sized Enterprises

9. Professional services in AI Market, by Vertical

9.1. Introduction
9.2. Banking, Financial Services & Insurance
9.3. Energy & Utilities
9.4. Government
9.5. Healthcare & Life Sciences
9.6. IT & Telecommunication
9.7. Manufacturing
9.8. Retail & Consumer Goods

10. Americas Professional services in AI Market

10.1. Introduction
10.2. Argentina
10.3. Brazil
10.4. Canada
10.5. Mexico
10.6. United States

11. Asia-Pacific Professional services in AI Market

11.1. Introduction
11.2. Australia
11.3. China
11.4. India
11.5. Indonesia
11.6. Japan
11.7. Malaysia
11.8. Philippines
11.9. Singapore
11.10. South Korea
11.11. Taiwan
11.12. Thailand
11.13. Vietnam

12. Europe, Middle East & Africa Professional services in AI Market

12.1. Introduction
12.2. Denmark
12.3. Egypt
12.4. Finland
12.5. France
12.6. Germany
12.7. Israel
12.8. Italy
12.9. Netherlands
12.10. Nigeria
12.11. Norway
12.12. Poland
12.13. Qatar
12.14. Russia
12.15. Saudi Arabia
12.16. South Africa
12.17. Spain
12.18. Sweden
12.19. Switzerland
12.20. Turkey
12.21. United Arab Emirates
12.22. United Kingdom

13. Competitive Landscape

13.1. Market Share Analysis, 2023
13.2. FPNV Positioning Matrix, 2023
13.3. Competitive Scenario Analysis
- 13.3.1. Wipro Expands Google Cloud Partnership to Advance Enterprise Adoption of Generative AI
- 13.3.2. PwC Bets USD 1 Billion on AI for Business
- 13.3.3. ServiceNow and NVIDIA Announce Partnership to Build Generative AI Across Enterprise IT
- 13.3.4. Cognizant and Google Cloud Expand Alliance to Bring AI to Enterprise Clients
- 13.3.5. Kpmg To Advance And Scale Generative Ai Technologies For Its Clients And Talent
- 13.3.6. Accenture bolsters industrial AI services with Flutura acquisition
- 13.3.7. Bain & Company announces services alliance with OpenAI to help enterprise clients identify and realize the full potential and maximum value of AI
- 13.3.8. McKinsey acquires Iguazio, a player in AI and machine-learning technology
- 13.3.9. Deloitte Acquires SFL Scientific's Business to Enhance Cutting Edge AI and Science-based Capabilities
13.4. Strategy Analysis & Recommendation

Companies Mentioned

1. Accenture PLC
2. AI Professional Services Limited
3. Booz Allen Hamilton Inc.
4. Cerence Inc.
5. Cognizant Technology Solutions Corporation
6. Columbus
7. Databricks, Inc.
8. Deloitte
9. Diveplane Corporation
10. Ernst & Young Global Limited
11. EXPERT.AI
12. Hewlett Packard Enterprise Development LP
13. IDC CEMA s.r.o.
14. Infosys Limited
15. International Business Machines Corporation
16. KPMG International Limited
17. Kyndryl Inc.
18. Lately, Inc.
19. LivePerson, Inc.
20. McKinsey & Company
21. Microsoft Corporation
22. NGS Global, LLC
23. NVIDIA Corporation
24. Open Text Corporation
25. People.ai Inc.
26. ReadWrite, INC.
27. SAP SE
28. ServiceNow, Inc.
29. Tech Mahindra Limited
30. Velosio, LLC
31. Wipro Limited
32. XFO Financials Inc. dba. Vic.ai