Overview and Scope
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.
Sizing and Forecast
The artificial intelligence (ai) engineering market size has grown exponentially in recent years. It will grow from $11.49 billion in 2023 to $15.95 billion in 2024 at a compound annual growth rate (CAGR) of 38.8%. The growth in the historic period can be attributed to increased computing power, growing availability of big data, rising demand for automation, expansion of cloud computing.
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.
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Segmentation & Regional Insights
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
North America was the largest region in the artificial intelligence (AI) engineering market in 2023. The regions covered in the artificial intelligence (ai) engineering 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 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.
Key Industry Players
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, Accenture LLP, 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.
The artificial intelligence (ai) engineering market report table of contents includes:
1. Executive Summary
2. Artificial Intelligence (AI) Engineering Market Characteristics
3. Artificial Intelligence (AI) Engineering Market Trends And Strategies
4. Artificial Intelligence (AI) Engineering Market – Macro Economic Scenario
5. Global Artificial Intelligence (AI) Engineering Market Size and Growth
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31. Artificial Intelligence (AI) Engineering Market Other Major And Innovative Companies
32. Global Artificial Intelligence (AI) Engineering Market Competitive Benchmarking
33. Global Artificial Intelligence (AI) Engineering Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Artificial Intelligence (AI) Engineering Market
35. Artificial Intelligence (AI) Engineering Market Future Outlook and Potential Analysis
36.Appendix
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