AI is becoming more important all over the world, and certain parts of AI, like AI in healthcare or AI for businesses, are becoming even more important and growing fast. It also discusses which companies are doing the best in AI. The AI market is expected to grow globally.
Global Artificial Intelligence Market Forecast
The market for AI was worth about $46.9 billion in 2020. According to the CMI experts, by 2027, the global market for AI will reach around $341.4 billion. Countries like China, Germany, Japan, and Canada will see major growth in their AI markets.
The market growth of countries is as follows:
- China’s AI market is expected to grow by about 39.1%,
- Germany’s by 31.2%,
- Japan’s by 27.6%,
- And Canada’s by 29% between 2020 and 2027.
AI is becoming very important globally, and many countries are investing in it because it’s expected to grow more in the coming years.
Artificial Intelligence Chipsets
With the growing use of AI, there’s also a high demand for special computer chips for AI tasks.
There are two main types of chips:
- Processors
- Memory
The processors are the main part of the operation as they are needed to handle the calculations for AI tasks. They’re expected to grow at about 36.1% each year. Memory chips store the data the processors use; the need for these chips is also expected to grow at a CAGR of 39.4% each year. The market for these AI chips was worth $13.4 billion in 2020 and should be around $125 billion by 2027. That is a great growth rate of about 37.5% annually.
AI in the Healthcare Market
With AI becoming a big part of healthcare, it is seen to grow more as many countries invest in it. AI is expected to give us better treatments, faster diagnoses, and overall improvements in healthcare. The global healthcare AI market was worth about $14 billion in 2020. According to the experts, it will be valued at around $119.8 billion by 2027. Some big names in this industry are
- Johnson & Johnson Services,
- Koninklijke Philips,
- Medtronic,
- And Siemens Healthineers and other 222 companies.
Artificial intelligence in the healthcare market is:
- China is expected to grow at 34.7% annually,
- Japan is seen to grow at 32.6 yearly,
- Canada at 30.7%,
- And Germany at 25.1%.
Artificial Intelligence in Marketing
In 2020, the market for using AI in marketing was worth around $17.8 billion worldwide. By 2027, it’s expected to reach about $93.5 billion. That’s a huge increase of 26.8% each year on average. AI is becoming a big deal in marketing, with many companies worldwide funding it for their benefit.
The main countries where AI is expanding in marketing are as follows:
- The United States,
- China,
- Japan,
- Canada,
- Europe and 268 companies are getting involved in this industry.
AI in Computer Vision
The market for AI in the computer world was worth around $19.5 billion in 2020. It’s expected to grow widely and reach $84.1 billion by 2027. This growth is happening at a rate of about 23.3% per year. 407 different companies have shown interest in this market, and some big companies are as follows:
- Alphabet
- Omron
- Allied Vision Technologies
- Sony
- Apple and many more.
Predictions for the CAGR for both the market segments are as follows:
- The software has a CAGR of 23.9%.
- The hardware is at a CAGR of 21.8%.
Artificial Intelligence in Security
AI is becoming very important in keeping things safe and secure, which includes everything from protecting computer networks to stopping cyberattacks. According to experts, AI in security will expand significantly and reach $57.6 billion by 2027. That’s a big jump, expected to grow at a CAGR of 20%.
The growth rates of the countries are as follows:
- China is seen to have a 19.7% annual growth rate.
- Japan and Canada are seen to increase by 17.9% and 17.1%.
277 different companies have shown interest in this market, and some big companies are as follows:
- Acalvio Technologies,
- Fortinet, Securonix,
- ThreatMetrix,
- And Xilinx, and others.
Artificial Intelligence in Manufacturing
AI is becoming very important in manufacturing because it helps companies save money on labor and make their operations more efficient. This means companies will use AI machines and technologies to perform tasks that humans did before. The market for AI in manufacturing was worth about $2.6 billion in 2020, but it’s said to grow a lot in the coming years. By 2027, it could be worth around $48.9 billion.
Big companies which are a part of this sector are as follows:
- Bright Machines,
- Mitsubishi Electric,
- UBTECH Robotics,
- Rethink Robotics,
- Sight Machine and 152 others.