The artificial intelligence products market size has grown strongly in recent years. It will grow from $2.35 billion in 2023 to $2.53 billion in 2024 at a compound annual growth rate (CAGR) of 7.5%. The growth in the historic period can be attributed to increased computing power, rise of big data, government investments in research and development, growing adoption of cloud computing.
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Segmentation & Regional Insights
The artificial intelligence products market covered in this report is segmented –
1) By Product Type: Computer And GPU Chip Hardware, Cloud Hardware, Other Products
2) By Enterprise Size: Large Enterprise, Small And Medium-Sized Enterprise
3) By Application: Media And Advertising, Healthcare, Automotive And Transportation, Other Applications
North America was the largest region in the artificial intelligence products market in 2023. The regions covered in the artificial intelligence products market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The increasing government initiatives are expected to fuel the growth of the artificial intelligence products market going forward. Government initiatives refer to specific actions, programs, or policies undertaken by a government to address issues, achieve specific goals, or bring about positive changes in various aspects of society. Governments act as facilitators, bringing together researchers, industry players, and civil society organizations to collaborate to develop AI products. For instance, in June 2023, the Ministry of Innovation, Science, and Industry, a Canada-based government agency, initiated the second phase of the Pan-Canadian artificial intelligence program, and this rollout is supported by a substantial investment exceeding US$ 443 million, underscores the government’s commitment to enhance the integration and commercialization of AI across various sectors of the country’s economy. Therefore, increasing government initiatives is driving the growth of the artificial intelligence products market.
Key Industry Players
Major companies operating in the artificial intelligence products market report are Apple Inc., Alphabet Inc., Microsoft Corporation, Tencent Holdings Ltd., Amazon Web Services Inc., Siemens AG, Intel Corporation, International Business Machines Corporation, NVIDIA Corporation, Salesforce Inc., Advanced Micro Devices Inc., Baidu Inc., Zebra Technologies Corp., Autodesk Inc., Arm Holdings plc, Palantir Technologies Inc., Databricks Inc., UiPath, Open AI, Ayasdi AI LLC, AiCure, Enlitic Inc., Clarifai Inc., Sensely Inc., Atomwise Inc.
The artificial intelligence products market report table of contents includes:
1. Executive Summary
2. Artificial Intelligence Products Market Characteristics
3. Artificial Intelligence Products Market Trends And Strategies
4. Artificial Intelligence Products Market – Macro Economic Scenario
5. Global Artificial Intelligence Products Market Size and Growth
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31. Artificial Intelligence Products Market Other Major And Innovative Companies
32. Global Artificial Intelligence Products Market Competitive Benchmarking
33. Global Artificial Intelligence Products Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Artificial Intelligence Products Market
35. Artificial Intelligence Products Market Future Outlook and Potential Analysis
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