According to the latest report by IMARC Group, titled “United States Artificial Intelligence Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” The United States artificial intelligence market size reached US$ 19,248.7 Million in 2021. Looking forward, IMARC Group expects the market to reach US$ 93,073.4 Million by 2027, exhibiting a growth rate (CAGR) of 29.1% during 2022-2027.
accomplishing tasks and improving functions through various information. It relies on cognitive skills, such as learning, reasoning, and self-correction, to perform several tasks efficiently. It enhances the performance and productivity of large enterprises by increasing the efficiency of detail-oriented and repetitive tasks and delivering consistent and appropriate results. It assists businesses in reducing production management tasks, detecting and solving security intrusions, and managing technological complications. It also enhances customer service by answering frequently asked questions (FAQs), providing customized suggestions, and cross-selling products to improve company sales.
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Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Market Trends:
A high digital dependence of businesses for enhancing their productivity represents one of the major factors driving the market in the United States. In addition, there is a rise in the adoption of AI in various organizations to provide customized services for improving customer engagement in the country. This, along with technological advancements in AI, such as faster speech and natural language processing, is strengthening the growth of the market in the US. Moreover, the rising reliance on hyper-personalized marketing strategies offered by AI to provide real-time data-oriented decisions, improve profitability, decrease expenses, and enhance customer experience are positively influencing the market in the country. Apart from this, the increasing utilization of AI-driven automation in various industries, such as healthcare, aviation, agriculture, and finance, to achieve precision in repetitive and complicated tasks is propelling the growth of the market. Furthermore, rising investments by key market players in open-source AI platforms to increase efficiency in their value chain are expected to bolster the growth of the market.
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 Region:
Northeast
Midwest
South
West
Competitive Landscape:
The report has also analysed the competitive landscape of the market along with the profiles of the key players.
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Key highlights of the report:
Market Performance (2016-2021)
Market Outlook (2022- 2027)
Porter’s Five Forces Analysis
Market Drivers and Success Factors
SWOT Analysis
Value Chain
Comprehensive Mapping of the Competitive Landscape
As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
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