Artificial Intelligence (AI) Market worth $1,339.1 billion by 2030- Exclusive Report by MarketsandMarkets™ (2024)

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550 – Tables
80 - Figures
650 – Pages

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Scope of the Report

By business function, marketing & salesto register the largest market share during the forecast period.

Marketing & sales business function is projected to hold the largest market share in the Artificial Intelligence Market during the forecast period due to several compelling reasons. Firstly, AI-powered tools such as predictive analytics and recommendation engines significantly enhance customer targeting, lead generation, and personalized marketing campaigns, leading to improved conversion rates and sales performance. Secondly, the integration of AI into customer relationship management (CRM) systems enables businesses to automate repetitive tasks, streamline workflows, and provide more tailored customer experiences, driving customer satisfaction and loyalty. Additionally, AI-driven chatbots and virtual assistants are increasingly adopted by companies to offer round-the-clock customer support, further augmenting sales efforts. Furthermore, emerging trends such as AI-powered dynamic pricing, visual search, and voice commerce are reshaping the marketing and sales landscape, offering new avenues for growth and competitive advantage.

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By vertical, healthcare & life sciencessegmentis poised for the fastest growth rate during the forecast period.

Healthcare & life sciences vertical in the Artificial Intelligence Market is poised for the fastest growth rate during the forecast period due to various significant factors. Advancements in AI algorithms and deep learning techniques have significantly enhanced diagnostic accuracy, personalized treatment plans, and drug discovery processes, leading to improved patient outcomes and reduced healthcare expenses. Additionally, the proliferation of electronic health records (EHRs) and wearable devices has generated vast amounts of patient data, providing fertile ground for AI-powered analytics to extract actionable insights and augment clinical decision-making capabilities. Furthermore, the accelerated adoption of telemedicine and remote patient monitoring solutions are driving the integration of AI technologies into healthcare delivery systems. Emerging trends like precision medicine, virtual assistants for healthcare professionals, and AI-driven genomics are also contributing to the rapid growth of AI in the healthcare and life sciences sector.

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By region, North America accounts for the largest market during forecast period.

The region boasts a strong presence of leading tech giants and research institutions at the forefront of AI development. Additionally, North American industries have been early adopters of AI technologies, driving market growth. Government funding also plays a big role, as substantial resources are allocated towards AI research and development. This fosters a large pool of skilled AI professionals, further strengthening North America's position in the AI market.

Top Key Companies in Artificial Intelligence (AI) Market:

The major players in the Artificial Intelligence Market include Microsoft (US), IBM (US), Google (US), AWS (US), NVIDIA (US) along with startups such as Anthropic (US), Cerebras (US), OpenAI (US), Anduril Industries (US) and Cohere (Canada).

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