Report Feature
Software Artificial Intelligence Market Trends and Forecast
The future of the global software artificial intelligence market looks promising with opportunities in the healthcare, BFSI, law, retail, advertising and media, automotive & transportation, agriculture, and manufacturing end use industries. The global software artificial intelligence market is expected to reach an estimated $24.7 billion by 2028 with a CAGR of 22.9% from 2023 to 2028. The major drivers for this market are growing demand for self-driving cars and robots, increasing adoption of cloud based applications and services, and rising demand for intelligent virtual assistants.
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Software Artificial Intelligence Market by Segment
The study includes trends and forecast for the global software artificial intelligence market by deployment model, offering, application, end use industry, and region, as follows:
Software Artificial Intelligence Market by Deployment Model [Value ($B) Shipment Analysis from 2017 to 2028]:
- On-Premises
- Cloud
Software Artificial Intelligence Market by Offering [Value ($B) Shipment Analysis from 2017 to 2028]:
- Hardware
- Software
- Services
Software Artificial Intelligence Market by Application [Value ($B) Shipment Analysis from 2017 to 2028]:
- Voice Processing
- Text Processing
- Image Processing
Software Artificial Intelligence Market by End Use Industry [Value ($B) Shipment Analysis from 2017 to 2028]:
- Healthcare
- BFSI
- Law
- Retail
- Advertising and Media
- Automotive & Transportation
- Agriculture
- Manufacturing
Software Artificial Intelligence Market by Region [Value ($B) Shipment Analysis from 2017 to 2028]:
- North America
- Europe
- Asia Pacific
- The Rest of the World
List of Software Artificial Intelligence Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies, software artificial intelligence companies cater to increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the software artificial intelligence companies profiled in this report include-
- Advanced Micro Devices
- Baidu
- Atomwise
- IBM
- Oracle
- Cisco
- Google LLC
- Intel Corporation
- Microsoft
- Lifegraph
Software Artificial Intelligence Market Insights
- Lucintel forecasts that software will remain the largest offering segment over the forecast period due to its ability of extracting data and provide real-time analytics. Software also helps in supporting the decision-making process.
- Within this market, BFSI will remain the largest end use industry segment from 2023 to 2028 due to increasing demand for artificial intelligence software to fight against cyber-attack and fraudulent activities and to deliver enhanced customer services.
- North America will remain the largest region during the forecast period due to increasing penetration of artificial intelligence software in electronic devices and implementation of 5G technologies.
Features of the Software Artificial Intelligence Market
- Market Size Estimates: Software artificial intelligence market size estimation in terms of value ($B)
- Trend and Forecast Analysis: Market trends (2017-2022) and forecast (2023-2028) by various segments and regions.
- Segmentation Analysis: Software artificial intelligence market size by various segments, such as by deployment model, offering, application, end use industry, and region
- Regional Analysis: Software artificial intelligence market breakdown by North America, Europe, Asia Pacific, and the Rest of the World.
- Growth Opportunities: Analysis on growth opportunities in different by deployment model, offering, application, end use industry, and regions for the software artificial intelligence market.
- Strategic Analysis: This includes M&A, new product development, and competitive landscape for the software artificial intelligence market.
- Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
FAQ
Q1. What is the software artificial intelligence market size?
Answer: The global software artificial intelligence market is expected to reach an estimated $24.7 billion by 2028.
Q2. What is the growth forecast for software artificial intelligence market?
Answer: The global software artificial intelligence market is expected to grow with a CAGR of 22.9% from 2023 to 2028.
Q3. What are the major drivers influencing the growth of the software artificial intelligence market?
Answer: The major drivers for this market are growing demand for self-driving cars and robots, increasing adoption of cloud based applications and services, and rising demand for intelligent virtual assistants.
Q4. What are the major segments for software artificial intelligence market?
Answer: The future of the global software artificial intelligence market looks promising with opportunities in the healthcare, BFSI, law, retail, advertising and media, automotive & transportation, agriculture, and manufacturing end use industries.
Q5. Who are the key software artificial intelligence companies?
Answer: Some of the key software artificial intelligence companies are as follows:
Answer: The global software artificial intelligence market is expected to reach an estimated $24.7 billion by 2028.
Q2. What is the growth forecast for software artificial intelligence market?
Answer: The global software artificial intelligence market is expected to grow with a CAGR of 22.9% from 2023 to 2028.
Q3. What are the major drivers influencing the growth of the software artificial intelligence market?
Answer: The major drivers for this market are growing demand for self-driving cars and robots, increasing adoption of cloud based applications and services, and rising demand for intelligent virtual assistants.
Q4. What are the major segments for software artificial intelligence market?
Answer: The future of the global software artificial intelligence market looks promising with opportunities in the healthcare, BFSI, law, retail, advertising and media, automotive & transportation, agriculture, and manufacturing end use industries.
Q5. Who are the key software artificial intelligence companies?
Answer: Some of the key software artificial intelligence companies are as follows:
- Advanced Micro Devices
- Baidu
- Atomwise
- IBM
- Oracle
- Cisco
- Google LLC
- Intel Corporation
- Microsoft
- Lifegraph
Q6. Which software artificial intelligence segment will be the largest in future?
Answer: Lucintel forecasts that software will remain the largest offering segment over the forecast period due to its ability of extracting data and provide real-time analytics. Software also helps in supporting the decision-making process.
Q7. In software artificial intelligence market, which region is expected to be the largest in next 5 years?
Answer: North America will remain the largest region during the forecast period due to increasing penetration of artificial intelligence software in electronic devices and implementation of 5G technologies.
Q8. Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% Customization Without any Additional Cost.
Answer: Lucintel forecasts that software will remain the largest offering segment over the forecast period due to its ability of extracting data and provide real-time analytics. Software also helps in supporting the decision-making process.
Q7. In software artificial intelligence market, which region is expected to be the largest in next 5 years?
Answer: North America will remain the largest region during the forecast period due to increasing penetration of artificial intelligence software in electronic devices and implementation of 5G technologies.
Q8. Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% Customization Without any Additional Cost.
Table of Contents
Methodology
Lucintel has been in the business of market research and management consulting since 2000 and has published over 1000 market intelligence reports in various markets / applications and served over 1,000 clients worldwide. This study is a culmination of four months of full-time effort performed by Lucintel's analyst team. The analysts used the following sources for the creation and completion of this valuable report:
- In-depth interviews of the major players in this market
- Detailed secondary research from competitors’ financial statements and published data
- Extensive searches of published works, market, and database information pertaining to industry news, company press releases, and customer intentions
- A compilation of the experiences, judgments, and insights of Lucintel’s professionals, who have analyzed and tracked this market over the years.
Extensive research and interviews are conducted across the supply chain of this market to estimate market share, market size, trends, drivers, challenges, and forecasts. Below is a brief summary of the primary interviews that were conducted by job function for this report.
Thus, Lucintel compiles vast amounts of data from numerous sources, validates the integrity of that data, and performs a comprehensive analysis. Lucintel then organizes the data, its findings, and insights into a concise report designed to support the strategic decision-making process. The figure below is a graphical representation of Lucintel’s research process.
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Key Questions
- • What are some of the most promising, high-growth opportunities for the software artificial intelligence market by deployment model (on-premises and cloud), offering (hardware, software, and services), application (voice processing, text processing, and image processing), end use industry (healthcare, BFSI, law, retail, advertising and media, automotive & transportation, agriculture, and manufacturing), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
- • Which segments will grow at a faster pace and why?
- • Which region will grow at a faster pace and why?
- • What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
- • What are the business risks and competitive threats in this market?
- • What are the emerging trends in this market and the reasons behind them?
- • What are some of the changing demands of customers in the market?
- • What are the new developments in the market? Which companies are leading these developments?
- • Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
- • What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
- • What M&A activity did occur in the last five years and how did they impact the industry? For any questions related to software artificial intelligence market or related to software artificial intelligence companies, software artificial intelligence market size, software artificial intelligence market share, software artificial intelligence analysis, software artificial intelligence market growth, software artificial intelligence market research, write Lucintel analyst at email: helpdesk@lucintel.com we will be glad to get back to you soon.
