Artificial Intelligence Systems Spending Market 2024 Report By Key Companies, Regional Analysis And Forecast 2033

The Business Research Company has released its latest global market reports, covering insights for 2024 and offering projections up to 2033.

The Business Research Company presents an extensive market research report on the Artificial Intelligence Systems Spending Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.

Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.

Market Sizing:

The artificial intelligence systems spending market size has grown exponentially in recent years. It will grow from $117.38 billion in 2023 to $174.16 billion in 2024 at a compound annual growth rate (CAGR) of 48.4%. The growth in the historic period can be attributed to increased computing power, rise of cloud computing, growing awareness and education, regulatory and compliance requirements, and increased industry-specific applications.

The artificial intelligence systems spending market size is expected to see exponential growth in the next few years. It will grow to $827.98 billion in 2028 at a compound annual growth rate (CAGR) of 47.7%. The growth in the forecast period can be attributed to exponential growth in data, autonomous systems and robotics, quantum computing integration, global digital transformation initiatives, and increased adoption of ai in healthcare. Major trends in the forecast period include AI in edge computing, AI for cybersecurity, quantum computing and ai integration, AI-driven personalization, and strategic collaborations.

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Key Market Players:

Major companies operating in the artificial intelligence systems spending market report are Alphabet Inc., Microsoft Corporation, Alibaba Group Holding Limited, Facebook Inc., Dell Technologies Inc., Tencent Holdings Limited, Amazon Web Services, Siemens AG, General Electric (GE), Intel Corporation, IBM Corporation, Cisco Systems Inc., Oracle Corporation, Qualcomm Incorporated, SAP SE, Hewlett Packard Enterprise (HPE), NVIDIA Corporation, Salesforce.com, Baidu Inc., Adobe Inc., Splunk Inc., PTC Inc., Palantir Technologies Inc., Informatica LLC, Cloudera Inc.

Market Drivers:

The growing demand for automation is expected to propel the growth of the artificial intelligence systems spending market going forward. Automation refers to the process of using technology and systems to perform tasks or processes with minimal human intervention. Artificial intelligence system spending is used for automation to automate repetitive, rule-based tasks, typically in back-office operations such as data entry, customer service, and financial processing. For instance, in 2022, according to reports published by Routine Automation., a Poland-based operator of computer systems design, marketers adopting automation for content management increased from 22% in 2021 to 29% in 2022, with 48% using automation. Therefore, the growing demand for automation is driving the growth of the artificial intelligence systems spending market.

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The artificial intelligence systems spending market covered in this report is segmented -

1) By Component: Software, Hardware, Service
2) By Technology: Natural Language Processing, Deep Learning, Artificial General Intelligence, Machine Vision, Artificial Super Intelligence, Machine Learning
3) By Application: Automated Threat Intelligence And Prevention Systems, Fraud Analysis And Investigation, Automated Customer Service, Other Applications
4) By Industry Type: Banking, Financial Services, And Insurance, Discrete And Process Manufacturing, Healthcare, Retail, Wholesale, Professional And Consumer, Service, Transportation, Media And Entertainment, Others Industries

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