The global artificial intelligence market reached a value of around USD 1.2 trillion in 2019 and expected to grow at a CAGR of about 23% in the forecast period of 2020-2025 to reach a value of about USD 6 trillion by 2025.
The global artificial intelligence market size was valued at USD 39.9 billion in 2019 and is expected to grow at a compound annual growth rate (CAGR) of 42.2% from 2020 to 2027. The continuous research and innovation directed by the tech giants are driving the adoption of advanced technologies in industry verticals, such as automotive, healthcare, retail, finance, and manufacturing. However, technology has always been an essential element for these industries, but AI has brought technology at the center of the organizations. For instance, from self-driving vehicles to crucial life-saving medical gear, AI is being infused virtually to every apparatus and program. AI is proven to be the significant revolutionary element of the upcoming digital era. Tech giants like Amazon.com, Inc.; Google LLC; Apple Inc.; Facebook; International Business Machines Corporation; and Microsoft are investing significantly in the research and development of AI. These companies are working for making AI more accessible for enterprise use-cases.