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Artificial Intelligence (AI) Engineering Market Analysis

Report ID: GMI5383
Published Date: Oct 2022
Report Format: PDF

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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.

Global AI Engineering Market Size By Technology

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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.

Europe AI Engineering Market Size, By Country

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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.

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size of artificial intelligence (AI) engineering surpassed USD 8 billion in 2022 and is set to progress at above 35% CAGR from 2023 to 2032, owing to prominent government efforts to improve autonomous mobility.

The hardware segment captured over 30% of the market share in 2022, due to consistent efforts by industry players to introduce innovative products.

The machine learning segment dominated the AI engineering market with more than 48.5% share in 2022 backed by the mounting uptake of IoT and M2M-based devices.

The Europe AI engineering industry is slated to grow at more than 36.5% gains from 2023 to 2032 as a result of heavy investments by key automotive companies to advance autonomous mobility.

Some of the leading companies in the global industry 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, and People.ai.