Artificial Intelligence - Switzerland

Switzerland

The market size in the Artificial Intelligence market is projected to reach US$1.74bn in 2024.
The market size is expected to show an annual growth rate (CAGR 2024-2030) of 28.16%, resulting in a market volume of US$7.71bn by 2030.
In global comparison, the largest market size will be in the United States (US$50.16bn in 2024).

Definition:
Artificial intelligence (AI) is a branch of computer science that focuses on creating machines able to perform tasks traditionally requiring human intelligence, such as perception, reasoning, and learning. The Artificial Intelligence (AI) market includes a wide range of applications, such as speech recognition, image processing, and autonomous vehicles and has seen rapid growth in recent years due to advancements in technology and increased investment. The Artificial Intelligence (AI) market includes software, hardware, and services that enable organizations to develop and deploy AI applications.

Structure:

The Artificial Intelligence (AI) market is structured into six markets based on the technology:

The Computer Vision market covers applications that enable computers to interpret and understand digital images and video data.
The Machine Learning market covers the use of algorithms to enable computer systems to learn from data.
The Natural Language Processing market covers applications that enable computers to understand, interpret, and generate human language.
The Artificial Intelligence Robotics market covers the combination of AI, machine learning, and engineering to create intelligent machines that can perform tasks autonomously.
The Autonomous & Sensor Technology market covers machines and systems that operate independently by using sensors, AI, and machine learning to respond to changes in their environment.
The Generative AI market covers artificial intelligence that involves creating models capable of generating new content, such as images, videos, and text, which are indistinguishable from content created by humans.

Additional Information:

The Artificial Intelligence (AI) market comprises three key performance indicators: market sizes, market sizes by industry, and users of AI tools. Market sizes are generated by the funding amount of Artificial Intelligence (AI) companies. Key players of the Artificial Intelligence (AI) market include companies such as Google, Open AI, IBM, and Microsoft.

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Analyst Opinion

The Artificial Intelligence market in Switzerland is experiencing rapid growth, driven by factors such as increasing adoption of digital technologies, rising awareness about the potential of AI, and the convenience of online services. This elevated growth is influenced by advancements in AI Robotics, Autonomous & Sensor Technology, Computer Vision, Machine Learning, Natural Language Processing, and Generative AI. This growth is expected to continue as more industries integrate AI into their operations.

Customer preferences: With the rise of AI technology, there has been an increase in demand for personalized and efficient solutions in various industries. This trend is reflected in the Swiss market, where consumers are seeking AI-powered tools for tasks such as financial planning, customer service, and healthcare. This shift is driven by the desire for convenience, accuracy, and cost-effectiveness. Additionally, there has been a growing interest in ethical and transparent AI practices, as consumers become more aware of the potential impact of AI on society.

Trends in the market: In Switzerland, the Artificial Intelligence market is experiencing a surge in demand for AI-powered solutions in various industries, including healthcare, finance, and manufacturing. This trend is expected to continue as companies realize the potential of AI in enhancing efficiency and decision-making. Additionally, there is a growing focus on ethical and transparent use of AI, with the government implementing regulations to promote responsible AI adoption. This could lead to increased trust in AI and drive further growth in the market. Furthermore, with the rise of data-driven technologies and advancements in machine learning, the potential applications of AI are expanding, creating new opportunities for industry stakeholders to innovate and stay competitive.

Local special circumstances: In Switzerland, the Artificial Intelligence market is thriving due to the country's highly skilled workforce and advanced technological infrastructure. The government's support for innovation and investment in research and development has also played a crucial role in the market's growth. Additionally, the country's strong data privacy laws have attracted companies looking to develop ethical and responsible AI solutions. Switzerland's unique position as a global hub for finance and technology has also contributed to the market's success, with major banks and tech giants investing in AI-driven solutions.

Underlying macroeconomic factors: The Artificial Intelligence Market in Switzerland is greatly influenced by macroeconomic factors such as technological advancements, government support, and investment in research and development. Switzerland has a strong economy and is known for its innovation and technological expertise, making it a favorable environment for the growth of the AI market. Additionally, the country's stable political and regulatory environment, along with its high investment in research and development, further contribute to the growth of the AI market. The increasing demand for automation and efficiency in various industries, coupled with the country's skilled workforce, also plays a significant role in driving the growth of the AI market in Switzerland.

Methodology

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.