The global artificial intelligence (AI) software market size is expected to exceed approximately USD 1.9452 trillion by 2032, growing at a compound annual growth rate (CAGR) of 22.97% from 2023 to 2032 I am poised.
OTTAWA, Dec. 28, 2022 (GLOBE NEWSWIRE) — According to Precedence Research, global Artificial Intelligence (AI) Software Market The size was estimated at US$138.4 billion in 2022. Artificial intelligence software includes machine learning, speech recognition, and virtual assistants. It mimics human behavior by learning data patterns. Artificial intelligence software can recognize speech, images, and text to solve problems and develop better analytics. Artificial intelligence software is globally acclaimed for its oversight of curbing risk management techniques and managing business and operating systems.
Artificial intelligence software is used in multiple fields such as education, healthcare, automotive, IT and communications, defense, and BFSI. The artificial intelligence software market is growing all over the world as more industries rely on artificial intelligence technology. The Covid-19 pandemic has brought opportunities in the healthcare sector to the artificial intelligence software market. On the other hand, the demand for self-driving cars and self-driving cars is boosting the market of the automotive industry.The retail sector is impressive Artificial intelligence Use software to gain better data insights and manage operations while improving customer service. In contrast, the banking sector is seen to implement various strategies against fraud with the help of artificial intelligence software. It has been.
Get a sample copy of this report@ https://www.precedenceresearch.com/sample/2484
Region snapshot:
With major key players such as Google Inc, Microsoft Corporation, NVIDIA Corporation, IBM Corporation, and Amazon Web Services, the North American artificial intelligence software market is booming. Growing application of artificial intelligence software in the electronics, healthcare sector (especially after the Covid-19 pandemic), and other development sectors has opened the door for investors in the North American region. Geographically, the United States and Canada are her two major countries in the North American region, playing an important role in the development of the artificial intelligence software market. Canada has started implementing a new strategy to grow the overall AI market. The Canadian Institute for Advanced Study is said to be responsible for participating in and funding these new strategies.North America region artificial intelligence software market is projected to grow during the forecast period of 2022-2030
The artificial intelligence software market in the European region is projected to grow due to the research and innovation programs implemented by the European Commission to increase investment in the overall artificial intelligence market, which will also benefit the artificial intelligence software market. Asia-Pacific is likely to grow over the forecast period of 2022-2030, mainly in India, China, and Japan. The rise of the retail, healthcare, manufacturing, and IT industries demanding AI security software is responsible for this growth. Artificial intelligence software is widely imposed in China’s retail sector. On the other hand, rising number of start-ups is driving the surge in demand for artificial intelligence software market in India. In contrast, the Japanese artificial intelligence market is focused on the robotics sector. Real-time path planning, UAV drone control, and motion control are among the few AI robotics software used in the Japanese market.
Brazil and Argentina are seeing an increase in the number of startups in the regions responsible for the growth of the artificial intelligence software market in Latin America. While the Gulf countries of the Middle East are developing, the African region has yet to catch up with the competition in the artificial intelligence software market. The Middle East favors investments in self-driving vehicles and is projected to grow the artificial intelligence software market during the forecast period of 2022-2030. For example, the Saudi Arabian Ministry of Finance announced the approval of his two US-based artificial intelligence software companies, Faceki and QVALON.
Report highlights:
-
Rapid adoption of artificial intelligence software in automotive, healthcare, and BFSI sectors is likely to boost the growth of the artificial intelligence software market.
-
North America holds the largest revenue share in the artificial intelligence software market. Asia Pacific is likely to grow during the forecast period.
-
Increasing attention to robotics and 4IR technology to boost the market.
-
The customer service department could lead the market.
For more information on customization, please contact us here@ https://www.precedenceresearch.com/customization/2484
Reporting scope
|
report attribute |
detail |
|
Market size in 2023 |
US$170.19 billion |
|
Revenue projections to 2032 |
US$109.452 billion |
|
CAGR |
22.97% from 2023 to 2032 |
|
base year |
2022 |
|
Forecast year |
2023-2032 |
|
main player |
Advanced Micro Devices, Baidu, Inc., Atomwise, Inc., International Business Machines Corporation, Oracle, Cisco, Google LLC, Intel Corporation, Microsoft, Lifegraph, Cyrcadia Health, etc. |
Market dynamics:
driver
Growing demand for cybersecurity in all sectors:
Technological developments or advances have created cyber threats and cyber attacks, forcing businesses to adopt various cyber security measures to protect sensitive information and data carried by networks. Integrated artificial intelligence software for cybersecurity detects malware on your network, prioritizes risks, and protects your data sources. Artificial intelligence software in cybersecurity countermeasures detects threats that are difficult for human analysts due to the amount of data they generate. Artificial intelligence software is regarded as an important tool in cyber security because it can assess systems quickly and well. Rise in demand for cyber security by all sectors such as healthcare, education, automotive, defense, BFSI, IT & telecommunications, show predictable growth of the artificial intelligence software market.
Restraint
Limited skill set or limited number of artificial intelligence professionals for implementation:
A limited skill set to implement complex software hinders the artificial intelligence software market and is seen as a significant constraint. Developing, managing and implementing artificial intelligence software requires expertise. Machine learning, deep learning, and cognitive computing are some of the key technologies in artificial intelligence. Minor unintentional errors can cause major malfunctions in the performance of artificial intelligence software and have a large impact on results. As companies around the world invest in and adapt artificial intelligence software to run their businesses, it has become necessary to be aware of its algorithms, techniques, and other working aspects.
chance
Growing demand for self-driving cars:
The increasing use of artificial intelligence software in the automotive industry is creating a wide range of opportunities for the artificial intelligence software market. Self-driving cars use artificial intelligence software that senses their surroundings and collects data. Automobiles and vehicles can operate autonomously using machine learning techniques, image recognition, and voice processing applications. The growing demand for self-driving cars and vehicles with intelligent navigation systems has opened the door to the artificial intelligence software market. Artificial intelligence software can detect potential hazards to vehicles to make them safer. In the developing automotive industry, the demand for artificial intelligence software is scalable and enormous.
challenge
Privacy and data security concerns:
The performance of artificial intelligence software depends on the availability of input data. Artificial intelligence software generates vast amounts of data from various sources around the world. This is where the potential for data-related threats increases. Therefore, privacy and data security are key issues for the artificial intelligence software market. Artificial intelligence software is used in the BFSI sector, which carries vast amounts of sensitive data. Cyberattacks expose the personal information of countless people to the dark web, increasing the potential for fraudulent activity. However, many artificial intelligence software providers are already tackling this barrier.
Related reports
Get the latest press releases@ https://www.precedenceresearch.com/press-releases
these days D.developments:
-
In December 2022, Wodify, a leading gym and studio management software company, launched WodifyRetain, an all-in-one gym management artificial intelligence software. This software aims to improve member retention using artificial intelligence features to retain members longer.
-
In December 2022, Philadelphia, Pennsylvania’s regional public transit agency, SEPTA, announced new artificial intelligence security software in partnership with technology company ZeroEyes. SPETA will soon implement this artificial intelligence software, Deep Zero, which can detect when a firearm has been lifted and notify law enforcement directly after the weapon has been identified.
-
In November 2022, Amazon announced that the company would launch a new artificial intelligence software called Create with Alexa. It allows children to create stories with images, animations and sounds.
-
In November 2022, artificial intelligence software company Zenseact launched a new generation of artificial intelligence software, OnePilot. This artificial intelligence software provides the next level of safety for cars. With the launch of this AI software, the company aims to reduce traffic accidents and create safer roads.
market segmentation
By deployment model
By offering
by application
-
audio processing
-
text processing
-
Image processing
By end user
by geography
Available for immediate delivery | Buy this premium research report@ https://www.precedenceresearch.com/checkout/2484
Please feel free to contact us for orders, questions, etc. [email protected] | | +1 9197 992 333
about us
Precedence Research is a global market research and consulting organization. We provide unparalleled service to our global customers across a variety of industries. Precedence Research has expertise in providing market intelligence along with deep market insights to clients across a variety of businesses. We serve a diverse customer base in medical services, healthcare, innovation, next-generation technology, semiconductor, chemical, automotive, aerospace and defense companies, among other ventures around the world. is obliged to provide
Follow us for the latest updates:
https://www.linkedin.com/company/precedence-research/
https://www.facebook.com/precedenceresearch/
https://twitter.com/Precedence_R
