According to GlobalData’s latest published report, the revenue generated by the global artificial intelligence (AI) market stood at USD 68.1 billion in 2021 and is expected to grow further at 14.8% CAGR to reach USD 135.8 billion by 2026. The artificial intelligence market report provides an executive-level overview of the current state of the global artificial intelligence industry, including forecasts of key indicators till 2026. The report also features future scope, leading artificial intelligence vendors profiling, and demand dynamics by products/services and vertical, across regions and countries. The research study focuses on artificial intelligence markets across 24 major countries of the world.
Growing popularity of Metaverse and increasing applications in use cases such as self-driving cars, chatbots, disease diagnosis, drug discovery and others are driving growth of the artificial intelligence market. The major players in the global artificial intelligence market including Alphabet Inc, Microsoft Corporation, International Business Machines Corp (IBM), Intel Corp, Apple Inc, amongst others, focus on expanding their product/service offerings by adopting organic (through innovation and technology integration) and inorganic growth strategies, notably Partnerships, Mergers And Acquisitions (M&A). The top four artificial intelligence vendors are listed below:
International Business Machines Corp (US): International Business Machines Corp (IBM) is a provider of information technology (IT) products and services and is headquartered in Armonk, New York. The company manufactures and sells system hardware and software, and offers infrastructure, hosting, and consulting services. In February 2022, International Business Machines Corp (IBM) acquired Neudesic, a cloud services consultancy. The acquisition is part of IBM’s plan to expand in the areas of artificial intelligence and hybrid cloud.
Microsoft Corp (US): Microsoft Corp is a multinational corporation producing personal computers, computer software, consumer electronics and related services. Microsoft Corp offers a wide range of products and services including public, private and hybrid server products, cloud services and enterprise services. In March 2022, Microsoft Corp acquired Nuance Communications Inc, a company that offers conversational AI and ambient clinical intelligence solutions.
Alphabet Inc (US): Alphabet Inc, the holding company of Google, is a global technology company. It offers a wide range of products and platforms, including search, maps, calendar, ads, Gmail, Google Play, Android, google cloud, chrome, and YouTube. The company offers online advertising services through its AdSense, internet, TV services, licensing, and research and development services. In April 2022, Intrinsic, a robot software company owned by Alphabet Inc acquired Vicarious, a robotics and artificial intelligence company.
Intel Corp (US): Intel Corp designs and develops technology products and components. The company’s product portfolio comprises microprocessors, chipsets, embedded processors and microcontrollers, flash memory, graphic, network and communication, and conferencing. It also offers processors, chipsets, motherboards, solid state drives, server products, wireless connectivity products, and software and applications customers include original equipment manufacturers (OEMs), industrial and communications equipment manufacturers, and original design manufacturers. In March 2022, Intel Corp signed an agreement to acquire Granulate Cloud Solutions Ltd, a startup offering AI-powered workload optimization.
Need more information? GlobalData’s new report covers each of these companies in much more detail, providing an analysis of the following:
- Major competitors
- Key strategic initiatives
- Market Dynamics including Venture Financing, Mergers & Acquisitions deals, Social Media Analytics, and Patent Analytics
- The comprehensive report provides global market size estimates, revenue numbers, and coverage of key issues and market drivers.
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