Artificial Intelligence (AI) refers to the simulation of human intelligence in machines programmed to think, learn and make decisions. It encompasses a wide range of computational techniques that enable machines to perceive their environment, process information and act in ways that aim to achieve specific goals.
The artificial intelligence market consists of sales, by entities (organizations, sole traders and partnerships), of AI-enabled systems, software and services designed to simulate human intelligence processes like learning, reasoning and self-correction.
The global artificial intelligence market was valued at $35,120.38 million in 2018 which grew till 2023 at a compound annual growth rate (CAGR) of more than 33.00%.
Increased Internet Penetration
Increased internet penetration boosted the growth of the artificial intelligence in the historic period. Increased internet penetration expanded access to vast data volumes, essential for artificial intelligence (AI) growth, while enabling cloud-based AI platforms that lowered adoption barriers with scalable resources. Connectivity and internet-enabled devices supported real-time data collection, advancing AI applications in industries like healthcare, e-commerce and finance. This also fostered global collaboration among researchers, driving innovation and development. For instance, in October 2022, according to DataReportal, a Singapore-based online reference library, a total of 5.07 billion people around the world used the internet, equivalent to 63.5% of the world's total population. Internet users continue to grow too, with the data indicating that the world's connected population grew by more than 170 million in the past 12 months. Additionally, according to the ITU (International Telecommunication Union), globally, the percentage of households with internet access increased from 54.7% in 2018 to 57% in 2019. About 4.5 billion people had access to the internet in 2019. Initiatives such as Internet.org by Facebook also contributed to the rise in internet penetration. Therefore, more internet users and faster wireless internet access were major drivers for the artificial intelligence market during this period.
AI-Powered Programmatic Job Advertising Platform For Optimized Recruitment Campaigns
Major companies in the artificial intelligence market are focusing on developing innovative services, such as AI-powered programmatic job advertising, optimizing recruitment processes by automating job advertisement placements and targeting the right candidates more effectively. For instance, in November 2024, Veritone, Inc., a US-based AI company, launched AI-powered programmatic job advertising in Australia. The platform utilizes advanced AI and machine learning algorithms to optimize recruitment campaigns, allowing businesses to precisely target the most suitable candidates. It automates the process of ad-buying, ensuring job listings are delivered to the most relevant audience across various digital channels. This service aims to enhance recruitment efficiency, lower hiring costs and improve the quality of candidates.
The global artificial intelligence market is fairly fragmented, with large number of players operating in the market. The top ten competitors in the market made up to 12.22X% of the total market in 2023.
Artificial Intelligence Global Market Opportunities And Strategies To 2033 from The Business Research Company provides the strategists; marketers and senior management with the critical information they need to assess the global artificial intelligence market as it emerges from the COVID-19 shut down.
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Where is the largest and fastest-growing market for artificial intelligence? How does the market relate to the overall economy; demography and other similar markets? What forces will shape the market going forward? The artificial intelligence market global report from The Business Research Company answers all these questions and many more.
The report covers market characteristics; size and growth; segmentation; regional and country breakdowns; competitive landscape; market shares; trends and strategies for this market. It traces the market's history and forecasts market growth by geography. It places the market within the context of the wider artificial intelligence market; and compares it with other markets.
The report covers the following chapters
- Introduction and Market Characteristics- Brief introduction to the segmentations covered in the market, definitions and explanations about the segment by offering, by technology and by end user industry.
- Key Trends- Highlights the major trends shaping the global market. This section also highlights likely future developments in the market.
- Macro-Economic Scenario- The report provides an analysis of the impact of the COVID-19 pandemic, impact of the Russia-Ukraine war and impact of rising inflation on global and regional markets, providing strategic insights for businesses in the artificial intelligence market.
- Global Market Size And Growth- Global historic (2018-2023) and forecast (2023-2028, 2033F) market values and drivers and restraints that support and control the growth of the market in the historic and forecast periods.
- Regional And Country Analysis- Historic (2018-2023) and forecast (2023-2028, 2033F) market values and growth and market share comparison by region and country.
- Market Segmentation- Contains the market values (2018-2023) (2023-2028, 2033F) and analysis for each segment by offering, by technology and by end user industry in the market. Historic (2018-2023) and forecast (2023-2028) and (2028-2033) market values and growth and market share comparison by region market.
- Regional Market Size and Growth- Regional market size (2023), historic (2018-2023) and forecast (2023-2028, 2033F) market values and growth and market share comparison of countries within the region. This report includes information on all the regions Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa and major countries within each region.
- Competitive Landscape- Details on the competitive landscape of the market, estimated market shares and company profiles of the leading players.
- Other Major And Innovative Companies Details on the company profiles of other major and innovative companies in the market.
- Competitive Benchmarking- Briefs on the financials comparison between major players in the market.
- Competitive Dashboard- Briefs on competitive dashboard of major players.
- Key Mergers and Acquisitions- Information on recent mergers and acquisitions in the market is covered in the report. This section gives key financial details of mergers and acquisitions which have shaped the market in recent years.
- Market Opportunities And Strategies- Describes market opportunities and strategies based on findings of the research, with information on growth opportunities across countries, segments and strategies to be followed in those markets.
- Conclusions And Recommendations- This section includes recommendations for artificial intelligence providers in terms of product/service offerings geographic expansion, marketing strategies and target groups.
- Appendix- This section includes details on the NAICS codes covered, abbreviations and currencies codes used in this report.
Markets Covered:
- 1) By Offering: Hardware; Software; Services
- 2) By Technology: Machine Learning; Natural Language Processing; Context-Aware Computing; Computer Vision; Other Technologies
- 3) By End User Industry: Healthcare; Automotive; Agriculture; Retail; BFSI; Advertising & Media; Manufacturing; Other End-User Industries
- Companies Mentioned: NVIDIA Corporation; Microsoft Corporation; Alphabet Inc (Google LLC); Intel Corporation; OpenAI
- Countries: China; Australia; India; Indonesia; Japan; South Korea; USA; Canada; Brazil; France; Germany; UK; Italy; Spain; Russia
- Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
- Time-series: Five years historic and ten years forecast.
- Data: Ratios of market size and growth to related markets; GDP proportions; expenditure per capita; artificial intelligence indicators comparison.
- Data segmentations: country and regional historic and forecast data; market share of competitors; market segments.
- Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.