Trends and Opportunities in Applied Artificial Intelligence Market 2024

 The applied artificial intelligence (ai) global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.

Applied Artificial intelligence (AI) Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.

 Market Size — 
The applied artificial intelligence (AI) market size has grown exponentially in recent years. It will grow from $139.63 billion in 2023 to $177.28 billion in 2024 at a compound annual growth rate (CAGR) of 27%. The growth in the historic period can be attributed to increased data availability, rising adoption of cloud computing, growing demand for automation, investment in AI research and development, regulatory and compliance requirements.
The applied artificial intelligence (AI) market size is expected to see exponential growth in the next few years. It will grow to $462.6 billion in 2028 at a compound annual growth rate (CAGR) of 27.1%. The growth in the forecast period can be attributed to expansion of AI capabilities, increasing focus on AI ethics and governance, growth in edge computing, rise of AI-driven personalization, increased collaboration between AI providers and industry leaders. Major trends in the forecast period include integration of AI with IoT, advancements in AI technology, AI-powered automation, AI-driven decision support systems, AI-powered cybersecurity solutions.

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 Scope Of Applied Artificial intelligence (AI) Market
The Business Research Company’s reports encompass a wide range of information, including:

1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.

2. Drivers: Examination of the key factors propelling market growth.

3. Trends: Identification of emerging trends and patterns shaping the market landscape.

4. Key Segments: Breakdown of the market into its primary segments and their respective performance.

5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.

6. Macro Economic Factors: Assessment of broader economic elements impacting the market.

 Applied Artificial intelligence (AI) Market Overview

 Market Drivers –
The increasing data availability is expected to propel the growth of the applied artificial intelligence (AI) market going forward. Data availability refers to the extent to which data is readily accessible and usable for analysis and decision-making processes. Increasing data availability is driven by the proliferation of digital devices, the growth of the internet, and advancements in data storage and processing technologies, enabling more data to be collected, stored, and accessed than ever before. Applied AI leverages data availability to enhance decision-making, improve predictive analytics, and optimize operations across various industries by analyzing vast amounts of accessible data more effectively. For instance, in December 2022, a report from The Linux Foundation highlighted a substantial increase in data growth for average end-user organizations, reaching 2,208 TB — a 215.43% rise from the 700 TB recorded in 2021. Therefore, increasing data availability will drive the growth of the applied Artificial Intelligence (AI) market.

 Market Trends — 
Major companies operating in the applied artificial intelligence (AI) market are focusing on AI-driven personalization, such as AI-powered website assistants, to enhance the user experience, drive customer engagement, and increase conversion rates by delivering tailored content and support. AI-powered website assistants are digital tools that use artificial intelligence to interact with users, providing personalized assistance, answering queries, and enhancing the overall user experience on websites. For instance, in June 2024, Cognistx, a US-based applied AI company that builds multi-strategy AI systems to solve complex business challenges, launched SQUARY, an AI-powered website assistant that evolves with user interactions. Unlike traditional chatbots, SQUARY uses machine learning to understand user intent and provide accurate, personalized responses. It integrates with existing systems to ensure alignment with organizational goals. In healthcare, SQUARY offers verified medical information and appointment scheduling, while in education, it assists with course queries, study resources, and assignments.

 The applied artificial intelligence (AI) market covered in this report is segmented — 

1) By Technology: Machine Learning, Natural Language Processing (NLP), Computer Vision, Expert Systems, Other Technologies
2) By Component: Software, Services
3) By Deployment: Cloud-Based, On-Premise
4) By Application: Healthcare, Automotive, Retail, Finance, Manufacturing, Other Applications
5) By End-User: Large Enterprises, Small And Medium Enterprises (SMEs)

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 Regional Insights — 
North America was the largest region in the applied artificial intelligence (AI) market in 2023. The regions covered in the applied artificial intelligence (AI) market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

 Key Companies — 
Major companies operating in the applied artificial intelligence (AI) market are Apple Inc., Alphabet Inc., Microsoft Corporation, Meta Platforms Inc., Amazon Web Services Inc., Intel Corporation, International Business Machines Corporation, Salesforce Inc., NVIDIA Corporation, Baidu Inc., SAS Institute Inc., HubSpot Inc., Databricks Inc., UiPath Inc., Anthropic PBC, Mango Technologies Inc. (ClickUp), Freshworks Inc., C3.ai Inc., DataRobot Inc., OpenAI L.P., Pipedrive OÜ, Jasper AI Inc., H2O.ai Inc., Deep North Inc., Gridspace Inc.< /b>

 Table of Contents 
1. Executive Summary
2. Applied Artificial intelligence (AI) Market Report Structure
3. Applied Artificial intelligence (AI) Market Trends And Strategies
4. Applied Artificial intelligence (AI) Market — Macro Economic Scenario
5. Applied Artificial intelligence (AI) Market Size And Growth
…..
27. Applied Artificial intelligence (AI) Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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