Artificial Intelligence - United States

United States

The market size in the Artificial Intelligence market is projected to reach US$50.16bn in 2024.
The market size is expected to show an annual growth rate (CAGR 2024-2030) of 28.30%, resulting in a market volume of US$223.70bn 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 the United States is experiencing significant growth, propelled by the increasing adoption of digital technologies, growing health awareness among consumers, and the convenience offered by online health services. The market's substantial growth rate can be attributed to the advancements in AI Robotics, Autonomous & Sensor Technology, Computer Vision, Machine Learning, Natural Language Processing, and Generative AI. Factors such as the availability of large amounts of data, advancements in computing power, and increasing investments in AI research and development are also impacting the market's growth rate.

Customer preferences: As the use of Artificial Intelligence continues to expand in various industries, consumer preferences are shifting towards more personalized and efficient experiences. This has led to a rise in demand for AI-powered virtual assistants and chatbots for customer service and shopping assistance. Additionally, there is a growing interest in using AI for personalized recommendations and customized products. This trend is fueled by a desire for convenience and a desire for more tailored and relevant experiences.

Trends in the market: In the United States, the Artificial Intelligence market is experiencing a surge in the adoption of machine learning and natural language processing technologies across various industries. This trend is driven by the increasing demand for automation and data-driven decision making. Additionally, the integration of AI with advanced technologies like 5G and IoT is further propelling the growth of the market. This trend is significant as it has the potential to improve efficiency, reduce costs, and drive innovation in industries such as healthcare, finance, and retail. However, it also raises concerns about job displacement and ethical implications, which industry stakeholders must address to ensure responsible and sustainable use of AI.

Local special circumstances: In the United States, the Artificial Intelligence market is thriving due to the country's advanced technological infrastructure and strong investment in research and development. Additionally, the US has a highly skilled workforce and a supportive regulatory environment for AI adoption. This has led to the country being a leader in AI innovation and the development of cutting-edge AI solutions. Furthermore, the US market is heavily influenced by large tech companies such as Google, Amazon, and Microsoft, who are investing heavily in AI research and development.

Underlying macroeconomic factors: The Artificial Intelligence Market in the United States is heavily influenced by macroeconomic factors such as technological advancements, government support, and investments in research and development. With a robust national economy and a favorable regulatory environment, the US market is experiencing rapid growth. Additionally, the increasing adoption of AI in various industries, such as healthcare, finance, and retail, is driving market demand. Furthermore, the growing need for automation and efficiency in business processes is contributing to the market's expansion, making the US a key player in the global AI market.

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.