Technology & Telecommunications

According to a market report by Lucintel, 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.



Hardware, software & services are different segments of software artificial intelligence by offering. 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.

Advanced Micro Devices, Baidu, Atomwise, IBM, Oracle, Cisco, Google LLC, Intel Corporation, Microsoft, and Lifegraph Health are the major suppliers in the global software artificial intelligence market.



Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global software artificial intelligence market by deployment model, offering, application, end use industry, and region. Lucintel has compiled a comprehensive research report titled “Growth Opportunities in the Global Software Artificial Intelligence Market 2023-2028: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy, as it provides comprehensive data and analysis on trends, key drivers, and directions. 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:

 

This more than 150-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or email us at helpdesk@lucintel.com.

 

Lucintel, the premier global Management Consulting and market research firm, creates winning strategies for growth. Lucintel offers market assessments, competitive analysis, opportunity analysis, Growth Consulting, M&A, and Due diligence services to executives and key decision-makers in a variety of industries. For further information, visit www.lucintel.com.

 

Q.1. What are some of the most promising, high-growth opportunities for the global 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)?

Q.2. Which segments will grow at a faster pace and why?

Q.3. Which region will grow at a faster pace and why?

Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?

Q.5. What are the business risks and competitive threats in this market?

Q.6. What are the emerging trends in this market and the reasons behind them?

Q.7. What are some of the changing demands of customers in the market?

Q.8. What are the new developments in the market? Which companies are leading these developments?

Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?

Q.10. 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?

Q.11. What M&A activity did occur in the last five years and how did they impact the industry?