Artificial Intelligence Market Size to Hit USD 407.0 Billion by 2027

Artificial Intelligence Market, By Offering (Hardware, Software, Services), Technology (Machine Learning, Natural Language Processing), Deployment Mode, Organization Size, Business Function (Law, Security), Vertical and Region - Global forecast to 2027


Northbrook, IL 60062 -- (SBWIRE) -- 11/29/2022 -- The global Artificial Intelligence Market size is expected to grow at a Compound Annual Growth Rate (CAGR) of 36.2% during the forecast period, to reach USD 407.0 billion by 2027 from USD 86.9 billion in 2022. Since its introduction in the market, artificial intelligence technology had rapidly acquired acceptance. The worldwide artificial intelligence market is expanding significantly as a result of the increasing demand for artificial intelligence technologies across numerous industry verticals.

Browse 447 market data Tables and 65 Figures spread through 431 Pages and in-depth TOC on "Artificial Intelligence Market - Global forecast to 2027"

Download PDF Brochure @

As per verticals, the healthcare and life sciences segment to grow at highest CAGR during the forecast period

The artificial intelligence market is segmented on verticals into BFSI, IT/ITES, Telecommunication, Healthcare and Life Sciences, Manufacturing, Retail and eCommerce, Government and Defense, Automotive Transportation and Logistics, Energy and Utilities, and other verticals, such as travel and hospitality, and education. As per verticals, the healthcare and life sciences vertical is expected to grow at the highest CAGR during the forecast period. The market for the medical imaging and diagnostics segment is expected to grow at the highest CAGR during the forecast period. Factors such as the presence of a large volume of imaging data, advantages offered by AI systems to radiologists in diagnosis and treatment management, and the influx of a large number of startups in this segment fuel the growth of medical imaging & diagnostics.

Computer vision Segment to grow at the highest CAGR during the forecast period

As per technology, computer vision Segment to grow at the highest CAGR for the artificial intelligence market during the forecast period. Computer vision is concerned with the automatic extraction, analysis, and understanding of useful information from a single image or a sequence of image. In the agriculture application, computer vision technology is widely used for monitoring crop health and detecting nutrient deficiency in plants. For instance, IBM offers a solution named "IBM Maximo Visual Inspection," which enables it to unleash the power of computer vision to automate inspection and produce high-quality outputs.

As per region, North America to have the highest market size during the forecasted period

As per region, North America to have the highest market size during the forecasted period. North America has been the most-promising region across verticals, such as BFSI, retail and eCommerce, telecom, and travel and hospitality. The presence of prominent AI technology providers, such as IBM (US), Google (US), Microsoft (US), NVIDIA (US), Intel (US), Meta (US), Salesforce (US), Oracle (US), and AWS (US), is complementing the growth of the market in this region. The presence of such established AI companies and the emergence of new start-ups will strengthen the outlook of this region and enable it to witness a significant increase in investments and early adoption of Artificial Intelligence technology.

Request Sample Copy @

Some of the major artificial intelligence market vendors are Google Inc. (US), Microsoft Corporation (US), NVIDIA Corporation (US), Intel Corporation (US), Samsung Electronics Co., Ltd. (South Korea), IBM Corporation (US), Amazon Web Services, Inc. (US), Oracle (US), Meta (US), Salesforce (US), Cisco (US), Siemens (US), Huawei (China), SAP SE (Germany), SAS Institute (US), Baidu, Inc. (China), Alibaba Cloud (China), iFLYTEK (China), and Hewlett Packard Enterprise Development LP (US).

About MarketsandMarkets™

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.


Mr. Aashish Mehra
MarketsandMarkets™ INC
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Visit Our Website:
Research Insights:
Content Source: