Artificial Intelligence Market to Record CAGR of 29.2% Over 2025-2032; Rising Use of AI Assistance for Human Agents to Accelerate Market Growth

The artificial intelligence market size was valued at USD 233.46 billion in 2024 and is predicted to reach USD 294.16 billion in 2025. The market is anticipated to touch USD 1,771.62 billion by 2032, recording a CAGR of 29.2% over 2025-2032.

Fortune Business Insights™ presents this information in its latest report titled “Artificial Intelligence Market Size, Share & Industry Analysis, By Component (Hardware, Software, and Services), By Deployment (On-premise and Cloud), By Enterprise Type (Large Enterprises and Small and Medium-sized Enterprises), By Function (Human Resources, Marketing & Sales, Product/Service Deployment, Service Operation, Risk, Supply-chain Management, and Others), By Technology (Machine Learning, Natural Language Processing, Computer Vision, Robotics and Automation, Expert Systems), By Industry (Healthcare, Automotive, Retail, BFSI, Manufacturing, Agriculture, Government and Public Sector, IT & Telecom, Energy & Utilities, and Education), and Regional Forecast, 2025 – 2032”.

Artificial Intelligence (AI) uses a wide range of advanced machines to imitate human intelligence processes and help users make informed decisions. A wide range of smart hardware and software are developed to simulate human abilities, such as problem-solving and learning. Companies are gradually realizing the role AI plays in enhancing their performance and increasing their revenue margins. Moreover, governments across the world are launching various initiatives to encourage industries to adopt AI technologies. These factors will amplify the market’s growth.

The COVID-19 pandemic had a favorable impact on the market’s progress as there was a commendable rise in the number of AI-powered startups in various countries across the world. The use of AI in several industries during this period to manage large workloads gave these companies an opportunity to expand their business, which ultimately helped the market grow.

Launch of ChatGPT to Boost Use of Generative AI

The adoption of Generative AI technologies is rising in several industry verticals as this form of AI can produce a wide range of texts that are usually written by humans, such as coding basic programs, solving mathematical equations, and writing short stories. The launch of ChatGPT by OpenAI transformed the AI industry as this technology reached 1 million subscribers within just 5 days of the launch. This inspired many tech giants to launch their own versions of AI tools, such as chatbots to compete with ChatGPT. These efforts had a positive effect on the artificial intelligence market growth.

IBM Partnered with Intel to Install Latter’s AI Accelerators as a Service on Its Cloud Platform

IBM announced its partnership with Intel to install the latter’s Gaudi 3 AI accelerators as a Service on its cloud platform. This solution will be made available in early 2025 and help scale enterprise AI more cost-effectively.

Rising Use of AI Assistance for Human Agents to Accelerate Market Growth

Artificial intelligence is being widely used in the form of customer-experience chatbots across contact centers. These bots provide answers to common customer queries and can help customers get access to relevant resources. AI can also offer support to virtual agents by acting as agent assistants. This technology is capable of studying the customer sentiment and providing appropriate responses to help human agents offer enhanced customer services. These advantages offered by artificial intelligence will catalyze the market’s growth.

However, most developing countries do not have adequate AI talent, which can hamper the market’s progress.

Key Companies to Focus on Partnerships and Mergers to Introduce Innovative Solutions

Some of the top companies fueling the global artificial intelligence market growth are focusing on mergers, acquisitions, partnerships, and collaborations to help them launch cutting-edge AI solutions. These strategies will help them maintain their dominance in the market.

Notable Industry Development:

• September 2024 – Oracle announced the launch of innovative AI features in the Oracle Fusion Cloud Applications Suite. These features are expected to assist customers in effectively carrying out a wide range of intricate activities, enhancing productivity, and streamlining workflows.

To get a detailed report summary and research scope of this market, click here:

https://www.fortunebusinessinsights.com/industry-reports/artificial-intelligence-market-100114

List of Key Companies Profiled in the Report:

• Microsoft Corporation (U.S.)


• Amazon.com, Inc. (U.S.)


• IBM Corporation (U.S.)


• Alphabet Inc. (Google LLC) (U.S.)


• Salesforce.com, Inc. (U.S.)


• Baidu, Inc. (China)


• NVIDIA Corporation (U.S.)


• H2O.ai (U.S.)


• Oracle Corporation (U.S.)


• Hewlett Packard Enterprise Development LP (U.S.)


• Cisco (U.S.)


• Alibaba Cloud (China)


• Huawei (China)


• Appier (Taiwan)


• Gamaya (Switzerland)


• Hailo (Israel)


• Lumen5 (Canada)


• Graphcore (U.K.)

Further Report Findings:

• North America is dominating the global market as the region has a vast presence of leading players, such as Microsoft Corporation, IBM Corporation, and many others. Also, the number of AI-powered startups is increasing in the U.S., which will propel the regional market’s growth.


• Asia Pacific is anticipated to showcase robust growth in the global market as several countries across the region are increasing their investments in AI technologies.


• Based on technology, the machine learning segment is anticipated to dominate the global artificial intelligence market share as this technology can greatly improve the precision and accuracy of complicated tasks. It can also study vast volumes of data to identify abnormal patterns that might be overlooked by humans.

Table of Segmentation