Artificial Intelligence Systems Spending Market Segmented by End-user Industry and Geography - Growth, Trends, and Forecast (2020 - 2028)

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, according to latest analysis by Emergen Research. 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.

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Key Highlights of 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.
Healthcare segment is projected to account for comparatively higher market share during the forecast period due to growing use of AI platforms for novel cancer drug target identification and validation.
North America market is projected to account for the highest revenue share among other regional markets over the forecast period due to increasing government focus on digital economy transformation in countries in the region.
Key market participants include Google LLC, Microsoft Corporation, Apple Inc., Facebook, Inc., International Business Machines Corporation, Intel Corporation, Wipro Limited, Accenture PLC, Infosys Limited, and Salesforce.com Inc.
In April 2020, Voysis Limited was acquired by Apple Inc. Through this acquisition Apple will strengthen its NLP technology expertise to enhance its AI-driven digital voice assistance application, Siri.

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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
1. Applications
2. Platforms
Hardware
1. Server
2. Storage
Service
1. IT service
2. 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

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End-use Outlook (Revenue, USD Billion; 2021–2028)

- Healthcare
- BFSI
- Transportation
- Education
- Telecommunications
- Media & entertainment
- Retail
- Manufacturing
- Construction
- Information technology
- Others

Regional Outlook (Revenue, USD Billion; 2021–2028)

- North America
  1. U.S.
  2. Canada
  3. Mexico
- Europe
  1. Germany
  2. U.K.
  3. France
  4. BENELUX
  5. Rest of Europe
- Asia Pacific
  1. China
  2. Japan
  3. South Korea
  4. India
  5. Rest of APAC
- Latin America
  1. Brazil
  2. Rest of LATAM
- Middle East & Africa
  1. Saudi Arabia
  2. UAE
  3. Rest of MEA

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Key Questions Answered in the Report:

What is the growth rate of the Artificial Intelligence Systems Spending market? What is the anticipated market valuation of Artificial Intelligence Systems Spending industry by 2028?

What are the key growth driving and restraining factors of the Artificial Intelligence Systems Spending market?

Who are the prominent players operating in the market? What are the key strategies adopted by these companies?

What are the key opportunities and growth prospects of the Artificial Intelligence Systems Spending industry over the forecast period?

Which region is expected to show significant growth in the coming years?

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About Emergen Research

Emergen Research is a Marketresearch and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer Marketintelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.

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