Artificial Intelligence Systems Spending Market 2021 Latest Innovations, Business Scenario Outlook By 2028
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Increasing demand for AI-driven solutions in the education sector and rising adoption of AI in the BFSI industry to provide enhanced customer service
VANCOUVER, BC, CANADA, March 31, 2022 /EINPresswire.com/ -- The Global Artificial Intelligence Systems Spending Market Research Report published by Emergen Research is furnished with the latest information about product specifications and portfolio, technological advancement, product type, and manufacturing. Major factors such as revenue, costs, and gross margin are taken into consideration while formulating this report. The report provides extensive data concerning the key market players along with their SWOT analysis, financial standing, technological and product development, and recent strategic business expansion plans.
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. 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.
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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.
The report sheds light on the minute details of the Artificial Intelligence Systems Spending industry pertaining to growth factors, opportunities and lucrative business prospects, regions showing promising growth, and forecast estimation till 2028. The report assesses the historical data and current scenario to offer accurate estimations of the Artificial Intelligence Systems Spending market in the coming years.
Key players in the market
Google LLC, Microsoft Corporation, Apple Inc., Facebook, Inc., International Business Machines Corporation, Intel Corporation, Wipro Limited, Accenture PLC, Infosys Limited, and Salesforce.com Inc.
Key insights presented in the report:
Market revenue shares by major business players, by type, by application, and market scope of global Artificial Intelligence Systems Spending market
Sales revenue by key players and new entrants
Competitive analysis of key players, including aspects such as company overview, product or services specification, vendors, and buyers
Recent mergers, acquisitions, product launches, recent investments, and joint ventures
Regional analysis to provide insight into recent trends and opportunities
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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
Applications
Platforms
Hardware
Server
Storage
Service
IT service
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
End-use Outlook (Revenue, USD Billion; 2021–2028)
Healthcare
BFSI
Transportation
Education
Telecommunications
Media & entertainment
Retail
Manufacturing
Construction
Information technology
Others
Regional Segmentation
North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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The report demonstrates the progress and advancement achieved by the global Artificial Intelligence Systems Spending market, including the historical analysis and progress through forecast years. The report provides valuable insights to the stakeholders, investors, product managers, marketing executives, and other industry professionals. The report provides an accurate estimation by applying SWOT analysis and Porter’s Five Forces analysis. The report focuses on current and future market growth, technological advancements, volume, raw materials, and profiles of the key companies involved in the market.
Key Highlights from the 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.
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