Machine Learning - North America

The North American Artificial Intelligence market, specifically in the field of Machine Learning, is experiencing remarkable growth. This is primarily due to the increasing adoption of advanced technologies, growing awareness of the benefits of AI in healthcare, and the convenience of online services. The market's extraordinary growth rate is influenced by various factors such as government initiatives, investments in research and development, and the integration of AI in various industries.

Customer preferences: The North American market for machine learning in the artificial intelligence market is witnessing a rising demand for personalized and data-driven solutions. With a growing awareness of the potential of AI, consumers are now seeking more advanced and accurate AI-powered products and services. This is fueled by a shift towards a digital-first lifestyle, where individuals prefer convenient and personalized experiences in areas such as healthcare, education, and entertainment. As a result, there is a growing demand for AI-powered virtual assistants, chatbots, and other smart solutions that can cater to specific consumer needs and preferences.

Trends in the market: In North America, the Machine Learning Market within the Artificial Intelligence Market is experiencing a surge in demand for predictive analytics solutions, as businesses seek to gain insights from large datasets. This trend is expected to continue, driven by advancements in Big Data technologies and the increasing adoption of AI-powered tools in industries such as healthcare, finance, and retail. As such, companies specializing in Machine Learning and AI are poised for growth opportunities and partnerships as they help organizations harness the power of data to make informed decisions and improve operational efficiency.

Local special circumstances: In North America, the Machine Learning Market within the Artificial Intelligence Market is heavily influenced by the presence of tech giants such as Google, Microsoft, and IBM. These companies have invested heavily in research and development of machine learning technologies, leading to a highly competitive market landscape. Additionally, the region's robust infrastructure and advanced IT capabilities have created a conducive environment for the adoption of machine learning solutions across various industries. The North American market is also characterized by strong government initiatives to promote AI innovation, making it a hotbed for startups and emerging players in the machine learning space.

Underlying macroeconomic factors: The Machine Learning Market within the Artificial Intelligence Market in North America is heavily influenced by macroeconomic factors such as technological advancements, government support, and investment in research and development. Countries with strong technological capabilities and government initiatives to promote AI adoption are experiencing faster market growth compared to regions with limited resources and regulatory challenges. Moreover, the increasing demand for automation and data-driven decision making across various industries is propelling the demand for machine learning solutions in North America. Additionally, the growing need to improve operational efficiency and reduce costs is further driving the adoption of machine learning technologies in the region.

Data coverage: The data encompasses B2B, B2G, and B2C enterprises. Figures are based on the funding values from different industries for the market.

Modeling approach / Market size:Market sizes are determined through a top-down approach with a bottom-up validation, building on a specific rationale for each market. As a basis for evaluating markets, we use annual financial reports, funding data, and third-party data. In addition, we use relevant key market indicators and data from country-specific associations such as GDP, number of internet users, number of secure internet servers, and internet penetration. This data helps us estimate the market size for each country individually.

Forecasts:In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the S-curve function and exponential trend smoothing are well suited to forecast digital products and services due to the non-linear growth of technology adoption. The main drivers are the level of digitalization, the number of secure internet servers, and the revenue of the Public Cloud market.

Additional Notes: The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russian-Ukraine war are considered at a country-specific level. The market is updated twice a year. In some cases, the market is updated on an ad-hoc basis (e.g., when new, relevant data has been released or significant changes within the market have an impact on the projected development). Data from the Statista Consumer Insights Global survey is weighted for representativeness.