Home > Media & Technology > Next Generation Technologies > AI and Machine Learning > Artificial Intelligence (AI) Engineering Market
Artificial Intelligence Engineering Market Size
AI Engineering Market size valued at USD 8 billion in 2022 and is anticipated to grow at around 35% CAGR from 2023 to 2032. The growing focus of market players on eliminating loopholes in AI technology will be a key driver for business expansion.
Support from governments of varied developing countries towards promoting AI technology to strengthen the IT infrastructure has also played a crucial role in supporting industry expansion. Heavy investment to improve public welfare areas, including predictive healthcare, adaptive education, and optimized crisis response, by investing in long-term research projects is propelling the artificial intelligence engineering market. For instance, in June 2022, the government of Canada granted approximately USD 370 million to the country's researchers for AI and computer science research projects.
| Report Attributes | Details |
|---|---|
| Base Year: | 2022 |
| Market Size in 2022: | 18 billion (USD) |
| Forecast Period: | 2023 to 2032 |
| Forecast Period 2023 to 2032 CAGR: | 15% |
| 2032 Value Projection: | 70 billion (USD) |
| Historical Data for: | 2018 to 2022 |
| No. of Pages: | 220 |
| Tables, Charts & Figures: | 451 |
| Segments covered: | Deployment Model, Solution, End-use, Vehicle, and Region |
| Growth Drivers: |
|
| Pitfalls & Challenges: |
|
The rising preference for cloud-based applications will generate lucrative growth opportunities for AI engineering solution provider. Artificial intelligence improves cloud computing in terms of productivity, data management, errors and cost, and security, which has encouraged organizations to adopt AI to automate such routine tasks and functions. As per a survey published in February 2022, 67% large enterprises expedited cloud adoption while 39% medium-sized companies and 38% small companies began their cloud journey.
Artificial Intelligence Engineering Market Analysis
The growing risk of cyberattacks is likely to hamper AI engineering market size. The surging adoption of AI in the government sector and end-user industries have boosted their susceptibility to cyberattacks that can have malicious end goals. This has empowered attackers to corrupt sophisticated and intelligent technology solutions and find loopholes in corporate IT networks. Nevertheless, many developed nations have implemented strict regulations for the integration of artificial intelligence, which is expected to help operators overcome this issue.
The FPGA hardware segment is estimated to expand at above 33.5% growth rate through 2032, on account of the flexibility of FPGAs that enables it to be programmed for various kinds of workloads, from signal processing to deep learning & big data analytics.
The hardware segment captured over 30% of the AI engineering market share in 2022 and is slated to attain tremendous growth in coming years. Consistent efforts by industry players to introduce innovative products may increase segmental revenues.
The machine learning segment held more than 48.5% of the industry revenue share in 2022. The mounting uptake of IoT and M2M-based devices has amplified the demand for machine learning technology. Moreover, IoT connected devices penetration is set to reach 29.4 billion by 2030.
The IT & telecom segment is poised to record nearly 34.5% growth between 2023 and 2032. AI is widely utilized in the telecom industry for predictive maintenance and fraud detection, which is boosting product penetration.
The on-cloud segment is predicted to exhibit 37% growth rate till 2032. The segment growth is attributed to developments in the cloud infrastructure of companies, along with enhanced AI capabilities.
Regionally, the Europe artificial intelligence engineering market is showcase 36.5% gains through 2032. Top automobile players, including Audi, Mercedes, Ford, and others, are investing heavily in autonomous mobility, thereby facilitating the extensive use of AI in the region.
Artificial Intelligence Engineering Market Share
Some of the major key players operating in the AI engineering market include
- Alphabet Inc.
- IBM Corp.
- Intel Corp.
- Baidu Inc.
- Oracle Corp.
- Salesforce.com Inc.
- Cisco Systems, Inc.
- Meta Platforms Inc.
- Siemens AG
- Nvidia Corp.
- Microsoft Corp.
- SAP SE
- Dolbey Systems
- Netbase Solutions
- Verint Systems
- Lexalytics
- People.ai
These companies are majorly focusing on advancing product operational skills and innovating reliable AI services.
Impact of COVID-19 Pandemic
During the COVID-19 pandemic, the industry witnessed a huge surge in demand as AI technology aided public and private companies in managing the crisis. Machine learning technology allowed enterprises to scale up and adjust to the new remote working environment while healthcare and government institutions adopted ML software to enable contactless screening of COVID-19 symptoms. For instance, in May 2020, Clevy.io, a French AI-based technology start-up, launched an AWS chatbot for customers to easily find official government communications regarding the coronavirus. These factors are foreseen to positively influence the demand for AI engineering solutions.
This artificial intelligence (AI) engineering market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD million from 2018 to 2032 for the following segments:
Click here to Buy Section of this Report
Market, By Solution
- Hardware
- Central Processing Unit (CPU)
- Graphics Processing Unit (GPU)
- Application Specific Integrated Circuit (ASIC)
- Field-Programmable Gate Array (FPGA)
- Software
- Services
Market, By Technology
- Deep Learning
- Machine Learning
- Supervised Learning
- Unsupervised Learning
- Reinforcement Learning
- Natural Language Processing (NLP)
- Speech Recognition
- Optical Character Recognition (OCR)
- Semantic Search
- Sentiment Analysis
- Computer Vision
Market, By End-use
- Retail
- BFSI
- IT and Telecommunication
- Government and Public Sector
- Manufacturing
- Healthcare
- Education and Research
- Others
Market, By Deployment
- On-cloud
- On-premise
The above information has been provided for the following regions and countries:
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Asia Pacific
- China
- Japan
- South Korea
- India
- Australia
- Southeast Asia
- Latin America
- Brazil
- Mexico
- Argentina
- Middle East & Africa
- UAE
- Saudi Arabia
- South Africa
Frequently Asked Questions (FAQ) :