Press release
Artificial Intelligence (AI) Engineering Market 2024-2033: Competitor Assessment, Industry Size And Major Players
Artificial Intelligence (AI) Engineering Market
The artificial intelligence (ai) engineering market size is expected to see exponential growth in the next few years. It will grow to $59.22 billion in 2028 at a compound annual growth rate (CAGR) of 38.8%. The growth in the forecast period can be attributed to demand for ai-powered cybersecurity solutions, growth in edge computing, expansion of ai in healthcare applications, increasing use of ai in customer service. Major trends in the forecast period include development of explainable ai, rise of ai in drug discovery and healthcare research, increased use of ai in human resources, emergence of ai-driven design and creativity tools, growing focus on ethical ai development.
Market Overview -
Artificial intelligence engineering is a discipline that focuses on developing tools, systems, and processes to enable the application of artificial intelligence in real-world contexts. AI engineers play a crucial role in building AI models, designing algorithms, and applying AI technologies to solve complex problems and make data-driven decisions.
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The Impact Of Automation On The Artificial Intelligence (AI) Engineering Landscape
The rapid adoption of automation is expected to propel the growth of the artificial intelligence (AI) engineering market going forward. Automation refers to developing and using technology to manufacture and distribute goods and services with little human assistance. Automation in the AI engineering sector speeds up development, improves productivity, and streamlines procedures, resulting in the broad adoption of AI technology across various sectors. For instance, in February 2022, according to the International Federation of Robotics, a Germany-based non-profit organization, 23,000 industrial robots will be operating in UK factories in 2021, an increase of 6% from 2021. Further, sales of new robots were up by 8% to 2,205 units in 2020. Furthermore, in April 2021, according to Eurostat, a Luxembourg-based statistical office of the European Union, Denmark, and Finland reported having the highest percentage of businesses adopting artificial intelligence in 2021, with 24% Denmark and 16 % Finland, up from Finland (12%) and Denmark (11%) in 2020. Therefore, the rapid adoption of automation drives the artificial intelligence (AI) market.
Competitive Landscape -
Major companies operating in the artificial intelligence (ai) engineering market report are Alphabet Inc., Microsoft Corporation, Meta Platform Inc., Dell Technologies Inc., Huawei Technologies Co. Ltd., Sony Group Corporation, Tencent Holdings Limited, Amazon Web Services Inc., Siemens AG, General Electric Company, Intel Corporation, International Business Machines Corporation, Samsung Electronics Co. Ltd., Cisco System Inc., Qualcomm Incorporated, Oracle Corporation, SAP SE, Hewlett Packard Enterprise Company, Nvidia Corporation, Salesforce Inc., Capgemini SE, Cognizant Technology Solutions Corporation, Infosys Limited, Baidu Inc., Alibaba Cloud, Zebra Technologies Corporation, Palantir Technologies Inc., UiPath Inc., Verint Systems Inc.
AI And Computer Vision Transforming Geospatial Engineering
Technological advancement is a key trend gaining popularity in the artificial intelligence (AI) engineering market. Major companies operating in the artificial intelligence (AI) engineering market are adopting new technologies to sustain their position in the market. For instance, in March 2023, Mach9 Robotics Inc., a US-based geospatial technology company, launched new geospatial production software. The new tool uses computer vision and AI to produce 2D and 3D CAD engineering deliverables quickly. This is Mach9's conversion from a hardware-first to a software-first business model, brought on by the expanding need for tools that quicken the processing and analysis of geospatial data for infrastructure management.
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Key Segments -
The artificial intelligence (ai) engineering market covered in this report is segmented -
1) By Solution: Hardware, Software, Services
2) By Technology: Deep Learning, Machine Learning, Natural Language Processing, Computer Vision
3) By Deployment: On-Cloud, On-Premise
4) By End-User: Healthcare, Automotive And Transportation, Agriculture, Information Technology (IT), Business Management, Other End-Users
Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics
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