The market for artificial intelligence grew beyond 184 billion U.S. dollars in 2024, a considerable jump of nearly 50 billion compared to 2023. This staggering growth is expected to continue with the market racing past 826 billion U.S. dollars in 2030. AI demands data Data management remains the most difficult task of AI-related infrastructure. This challenge takes many forms for AI companies. Some require more specific data, while others have difficulty maintaining and organizing the data their enterprise already possesses. Large international bodies like the EU, the US, and China all have limitations on how much data can be stored outside their borders. Together these bodies pose significant challenges to data-hungry AI companies. AI could boost productivity growth Both in productivity and labor changes, the U.S. is likely to be heavily impacted by the adoption of AI. This impact need not be purely negative. Labor rotation, if handled correctly, can swiftly move workers to more productive and value-added industries rather than simple manual labor ones. In turn, these industry shifts will lead to a more productive economy. Indeed, AI could boost U.S. labor productivity growth over a 10-year period. This, of course, depends on a variety of factors, such as how powerful the next generation of AI is, the difficulty of tasks it will be able to perform, and the number of workers displaced.

In 2024, Artificial Intelligence Market was valued at $224.41 Billion and projected to reach $1236.47 Billion by 2030, due to increasing number of data globally.

The market size in the artificial intelligence market in the United States was forecast to continuously increase between 2024 and 2030 by in total 173.5 billion U.S. dollars (+345.89 percent). After the eighth consecutive increasing year, the market size is estimated to reach 223.68 billion U.S. dollars and therefore a new peak in 2030. Find more key insights for the market size in countries and regions like the market size in the 'Machine Learning' segment of the artificial intelligence market in Nordics and the market size in the 'Machine Learning' segment of the artificial intelligence market in the world. The Statista Market Insights cover a broad range of additional markets.

Machine learning remains the largest segment of the AI market in 2024 and is expected to continue as such until at least 2030. This stems in large part from the machine learning segment being the most prolific and simple AI to create. Its subcategory, deep learning, is considerably more complex but constitutes some of the most influential chatbots created since the expansion of generative AI in 2022, further cementing its market importance.

Artificial Intelligence Market size was valued at USD 214 Billion in 2024 and is projected to reach USD 863.79 Billion by 2030. Along with A 32.19% CAGR.

The global market size in the 'Generative AI' segment of the artificial intelligence market was forecast to continuously increase between 2024 and 2030 by in total 320 billion U.S. dollars (+887.41 percent). After the tenth consecutive increasing year, the market size is estimated to reach 356.05 billion U.S. dollars and therefore a new peak in 2030. Notably, the market size of the 'Generative AI' segment of the artificial intelligence market was continuously increasing over the past years.Find further information concerning the market size change in the 'AI Robotics' segment of the artificial intelligence market in the world and the market size in the 'Natural Language Processing' segment of the artificial intelligence market in the world. The Statista Market Insights cover a broad range of additional markets.

[228+ Pages Report] The global artificial intelligence (AI) market size is expected to grow from USD 137 billion in 2022 to USD 1812 billion by 2030, at a CAGR of 38% from 2023-2030

The Report Covers Global Artificial Intelligence Industry Report, Overview, and the Market is Segmented by Components (Hardware and Software and Services), by End-User Industry (BFSI, Fashion and Retail, Healthcare and Life Sciences, Manufacturing, Automotive, Aerospace and Defense, Construction, and Other End Users), by Geography (North America (United States, Canada), Europe (United Kingdom, Germany, France, Rest of Europe), Asia Pacific (China, India, Japan, South Korea, Rest of Asia Pacific), Latin America, and Middle East and Africa). The Market Sizes and Forecasts are Provided in Terms of Value in USD Billion for all the Above Segments.

Report Scope:

As per Cognitive Market Research's latest published report, the Global Machine Learning market size was USD 24,345.76 million in 2021 and it is forecasted to reach USD 206,235.41 million by 2028. Machine Learning Industry's Compound Annual Growth Rate will be 42.64% from 2023 to 2030. What is Driving Machine Learning Market?

COVID-19 Impact:

Similar to other industries, the covid-19 situation has affected the machine learning industry. Despite the dire conditions and uncertain collapse, some industries have continued to grow during the pandemic. During covid 19, the machine learning market remains stable with positive growth and opportunities. The global machine learning market faces minimal impact compared to some other industries.The growth of the global machine learning market has stagnated owing to automation developments and technological advancements. Pre-owned machines and smartphones widely used for remote work are leading to positive growth of the market. Several industries have transplanted the market progress using new technologies of machine learning systems. June 2020, DeCaprio et al. Published COVID-19 pandemic risk research is still in its early stages. In the report, DeCaprio et al. mentions that it has used machine learning to build an initial vulnerability index for the coronavirus. The lab further noted that as more data and results from ongoing research become available, it will be able to see more practical applications of machine learning in predicting infection risk.

Machine Learning Market Drivers:

Growing use of the technology and automation is a major factor is expected to drive the growth of the global machine learning market. Increasing need of machine learning from the media and entertainment, automobiles, IT and telecommunications, education, and other government and non-government sectors are factors driving the growth of the global machine learning market over the forecast period. In October 2022, Bharat Electronics (BEL) announced the signing of an agreement with Meslova to develop products and services in artificial intelligence and machine learning to develop air defense (AD) systems and platforms for the armed forces. Meslova uses artificial intelligence to develop domain-specific products and applications for some of the largest governments and corporations. Increasing technology advancements to higher accuracy of systems coupled with demand of various system based on machine learning such as voice recognition systems, image recognition system and recommender systems which is expected to support the growth in the near future. Furthermore, introduction of self-driving automobiles and significant expenditures in AI is another factor expected to fuel the growth of the global market over the forecast year.

Machine Learning Market: Restraints

The lack of skilled and experienced employees in the machine learning is a major factor expected to decline growth of the target market to a certain extent. In addition, network hardware issues, delicate data security, and ethical allegations in the algorithms is expected to hamper growth of the potential market in the near future. However, the high deployment cost is another factor that could pose as a hindrance in the growth of global market.

Machine Learning Market: Opportunities

During covid 19, industries and organizations in almost all regions are using remote working and working from home. It increases the use of machines, smartphones and other technological devices. Schools, colleges, government and non-government sectors are using machines developed by AI systems. Therefore, according to the machine learning market forecast report, the technology and machine learning are in high demand and will increase in the future. Organizations and other organizational sectors are investing more in building A-based technologies to benefit the global market. These are the major machine learning market opportunities to watch during the forecast period. What is Machine Learning?

Machine learning (ML) is a subdivision of artificial intelligence (AI). It is a method of data analysis that teaches computers to learn from algorithms and data, quickly mimicking the way humans learn. The technique focuses primarily on developing a program that can access data and use it to learn for itself. Machine learning enables machines to learn directly from data, experience, and examples. Additionally, ma...

The global artificial intelligence (AI) in diagnostics market size is expected to reach USD 5,225.4 Million by 2030 according to a new study by Polaris Market Research.

The Artificial Intelligence Market estimated size and share is projected to exceed USD 3,582.75 billion by 2034, with a forecasted CAGR of 31.3% during the period.

Discover the burgeoning Global AI Enabled Medical Imaging Market, valued at USD 3.23 billion in 2023, projected to reach USD 16.20 billion by 2030, with a remarkable CAGR of 25.9% from 2024 to 2030.

Global Artificial Intelligence Market size was valued at USD 129.12 Billion in 2022 and is poised to grow from USD 241.80 Billion in 2023 to USD 2359.1 Billion by 2031, at a CAGR of 38.1% during the forecast period (2024-2031).

The global artificial intelligence (AI) in HIV/AIDS market size is expected to reach USD 519.63 million by 2030 according to a new study by Polaris Market Research.

The Europe Artificial Intelligence In Banking Market would witness market growth of 30.8% CAGR during the forecast period (2023-2030). Fintech startups, characterized by agility and innovation, are early adopters of artificial intelligence in banking market. These companies leverage AI to create di

According to Cognitive Market Research, the global Location Intelligence market size is USD 16912.5 million in 2023 and will expand at a compound annual growth rate (CAGR) of 16.20% from 2023 to 2030.

North America held the major market of more than 40% of the global revenue with a market size of USD 6765.00 million in 2023 and will grow at a compound annual growth rate (CAGR) of 14.4% from 2023 to 2030
Europe market of more than 30% of the global revenue with a market size of USD 5073.75 million in 2023 and will grow at a compound annual growth rate (CAGR) of 14.7% from 2023 to 2030.
Asia-Pacific held the fastest growing market of more than 23% of the global revenue with a market size of USD 3889.88 million in 2023 and will grow at a compound annual growth rate (CAGR) of 18.2% from 2023 to 2030
Latin America market of more than 5% of the global revenue with a market size of USD 845.63 million in 2023 and will grow at a compound annual growth rate (CAGR) of 15.6% from 2023 to 2030
The Middle East and Africa market of more than 2.00% of the global revenue with a market size of USD 338.25 million in 2023 and will grow at a compound annual growth rate (CAGR) of 15.9% from 2023 to 2030.
The demand for Location Intelligences is rising due to the rising demand for spatial analytics and advancements in technology.
Demand for workforce management remains higher in the Location Intelligence market.
The System integration and implementation category held the highest Location Intelligence market revenue share in 2023.

Increased Demand for Real-Time Location Data to Provide Viable Market Output

The escalating demand for real-time location data stands as a key driver in the location intelligence market. Businesses are increasingly leveraging location-based insights for dynamic decision-making, resource optimization, and improved customer experiences. The ability to access and analyze up-to-the-minute location information enables industries such as logistics, transportation, and emergency services to enhance operational efficiency, respond swiftly to changing conditions, and optimize routes and services based on current data, thereby driving the adoption of location intelligence solutions.

In November 2022, the geospatial intelligence platform for programmatic advertising in Italy has been launched, according to TapTap, a business that provides advertisement technology. The company's development into Europe has led to the introduction of a new service and offering.

(Source:www.exchangewire.com/blog/2022/11/24/taptap-digitals-location-intelligence-lands-in-italy-with-a-new-sales-director-on-the-ground/)

Integration of Location Intelligence with Emerging Technologiesto Propel Market Growth

The integration of Location Intelligence with emerging technologies, such as artificial intelligence and the Internet of Things (IoT), serves as a pivotal driver in the market. This synergy enhances the capabilities of location intelligence by providing more comprehensive and context-rich insights. The combination of spatial data with AI algorithms and IoT sensors enables businesses to derive deeper, actionable insights from their location-based data. This integration is particularly significant in sectors like smart cities, where the amalgamation of diverse technologies through location intelligence contributes to more efficient urban planning, infrastructure management, and overall improved quality of life.

July 2021 -A new cloud-based location-based business intelligence (LBS) program called INRIX IQ Location Analytics was unveiled by INRIX Inc. It offers retailers, investors, and other business professionals insights on how to build additional locations, boost sales, and optimize return on investment.

(Source:inrix.com/press-releases/location-analytics/)

Market Restraints of the Location Intelligence

Privacy and Security Concerns to Restrict Market Growth

Privacy and security concerns represent a significant restraint in the Location Intelligence market. As the collection and analysis of location data become more pervasive, there is a growing apprehension among consumers and businesses regarding the potential misuse or unauthorized access to sensitive location information. Striking a balance between leveraging location-based insights for business purposes and ensuring the protection of individual privacy poses a challenge. Addressing these concerns by implementing ...

The Global Artificial Intelligence in Neurology Market is expacted to reach USD 48 million in 2023 and is estimated to grow at a CAGR of about 46% during the forecast period 2024-30.

North America Artificial Intelligence Education Technology Market size will be USD 1570.08 Million in 2023 and will expand at a compound annual growth rate (CAGR) of 45.7% from 2023 to 2030.

The market size change in the 'Generative AI' segment of the artificial intelligence market in the United States was forecast to continuously decrease between 2024 and 2030 by in total 49.7 percentage points. After the sixth consecutive decreasing year, the market size change is estimated to reach 26.3 percent and therefore a new minimum in 2030. Notably, the market size change of the 'Generative AI' segment of the artificial intelligence market was continuously increasing over the past years.Find more key insights for the market size change in countries and regions like the market size change in the 'Natural Language Processing' segment of the artificial intelligence market in the United States and the number of AI tools users in the 'AI Tool Users' segment of the artificial intelligence market in Nordics. The Statista Market Insights cover a broad range of additional markets.