IMARC Group, a leading market research company, has recently releases report titled “India Artificial Intelligence Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028” The study provides a detailed analysis of the industry, including the ai industry in india market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
Report Highlights:
How big is the india artificial intelligence market?
The India artificial intelligence market size reached US$ 680.1 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 3,935.5 Million by 2028, exhibiting a growth rate (CAGR) of 33.28% during 2023-2028.
What is artificial intelligence?
Artificial intelligence (AI) represents the technological solution used for building smart machines capable of performing various tasks that require human intelligence. It aids in planning, learning, recognizing human-like speech, solving problems according to past experiences, etc. Artificial intelligence comprises hardware components, including a central processing unit (CPU), graphics processing unit (GPU), field-programmable gate array (FPGA), application-specific integrated circuits (ASIC), etc. It also has software components, such as deep learning, natural language processing (NLP), machine learning (ML), etc., that provide meaningful insights and process a large amount of data.
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What are the growth prospects and trends in the India artificial intelligence?
The escalating demand for AI-integrated systems, on account of the growing digitization in several sectors, including banking, financial services and insurance (BFSI), telecommunications, healthcare, automotive, etc., is among the key factors stimulating the India artificial intelligence market. Moreover, the expanding information technology (IT) industry and the rising usage of cloud-based applications are acting as significant growth-inducing factors. Besides this, numerous benefits offered by artificial intelligence-integrated systems, such as analysis of large amounts of data, improved consumer experience, extraction of insights regarding overall operational efficacy, etc., are bolstering the market growth. Furthermore, extensive R&D activities by key market players are propelling the market growth across the country. Apart from this, the widespread adoption of reliable cloud computing solutions is further augmenting the market growth. Additionally, the increasing popularity of AI-powered industrial and surgical robots, the development of intelligent virtual assistants, and continuous improvements in 5G infrastructures are anticipated to fuel the India artificial intelligence market over the forecasted period.
What is included in market segmentation?
The report has segmented the market into the following categories:
Breakup by Type:
Narrow/Weak Artificial Intelligence
General/Strong Artificial Intelligence
Breakup by Offering:
Hardware
Software
Services
Breakup by Technology:
Machine Learning
Natural Language Processing
Context-Aware Computing
Computer Vision
Others
Breakup by System:
Intelligence Systems
Decision Support Processing
Hybrid Systems
Fuzzy Systems
Breakup by End-Use Industry:
Healthcare
Manufacturing
Automotive
Agriculture
Retail
Security
Human Resources
Marketing
Financial Services
Transportation and Logistics
Others
Breakup by Geography:
North India
West and Central India
South India
East India
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players.
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