Artificial Intelligence Market Size Projected to Hit USD 3,680.47 Bn by 2034

Ottawa, Nov. 07, 2024 (GLOBE NEWSWIRE) -- The global artificial intelligence market size is expected to increase from USD 757.58 billion in 2025 to approximately USD 3,680.47 billion by 2034, According to Precedence Research. The North America artificial intelligence (AI) market size is calculated at USD 235.63 billion in 2024.

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The artificial intelligence (AI) market is experiencing unprecedented growth, driven by rapid advancements in technology, increasing data availability, and a burgeoning demand for automation across various industries. As businesses recognize the transformative potential of AI to enhance efficiency, reduce operational costs, and improve customer experiences, investment in AI technologies has surged.

The market potential for AI is vast as organizations increasingly seek to harness data-driven insights to remain competitive. Key growth drivers include the proliferation of internet of things devices, advancements in machine learning algorithms, and the integration of AI with emerging technologies such as blockchain and edge computing. As the integration of Moreover, the shift towards remote work and digital transformation accelerated by the pandemic has further propelled the adoption of AI solutions.

Artificial Intelligence (AI) Market Key Highlights:

• North America accounted for the largest market share of 36.90% in 2023.
• The Asia Pacific is expected to grow at a double-digit CAGR of 19.8% from 2024 to 2034.
• By technology, the deep learning segment contributed the biggest market share of 36.9% in 2023.
• By solution, the services segment recorded the largest market share of 39.4% in 2023.
• By end user, the BFSI segment has held a major market share of 17.1% in 2023.
  

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Artificial Intelligence (AI) Market Revenue, By Solution (USD Billion), 2022 to 2024

Artificial Intelligence (AI) Market Revenue, By End User (USD Billion), 2022 to 2024