Software Artificial Intelligence Market: Trends, Opportunities and Competitive Analysis [2023-2028]

Software Artificial Intelligence Market Trends and Forecast

The future of the global software artificial intelligence market looks promising with opportunities in the healthcare, BFSI, law, retail, advertising and media, automotive & transportation, agriculture, and manufacturing end use industries. The global software artificial intelligence market is expected to reach an estimated $24.7 billion by 2028 with a CAGR of 22.9% from 2023 to 2028. The major drivers for this market are growing demand for self-driving cars and robots, increasing adoption of cloud based applications and services, and rising demand for intelligent virtual assistants.

Software Artificial Intelligence Market

A more than 150-page report is developed to help in your business decisions. A sample figure with some insights is shown below.

Software Artificial Intelligence Market by Segment

Software Artificial Intelligence Market by Segment

The study includes trends and forecast for the global software artificial intelligence market by deployment model, offering, application, end use industry, and region, as follows:

Software Artificial Intelligence Market by Deployment Model [Value ($B) Shipment Analysis from 2017 to 2028]:

On-Premises

Cloud

Software Artificial Intelligence Market by Offering [Value ($B) Shipment Analysis from 2017 to 2028]:

Hardware

Software

Services

Software Artificial Intelligence Market by Application [Value ($B) Shipment Analysis from 2017 to 2028]:

Voice Processing

Text Processing

Image Processing

Software Artificial Intelligence Market by End Use Industry [Value ($B) Shipment Analysis from 2017 to 2028]:

Healthcare

BFSI

Law

Retail

Advertising and Media

Automotive & Transportation

Agriculture

Manufacturing

Software Artificial Intelligence Market by Region [Value ($B) Shipment Analysis from 2017 to 2028]:

North America

Europe

Asia Pacific

The Rest of the World

List of Software Artificial Intelligence Companies

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies, software artificial intelligence companies cater to increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the software artificial intelligence companies profiled in this report include-

Advanced Micro Devices

Baidu

Atomwise

IBM

Oracle

Cisco

Google LLC

Intel Corporation

Microsoft

Lifegraph

Software Artificial Intelligence Market Insights

Lucintel forecasts that software will remain the largest offering segment over the forecast period due to its ability of extracting data and provide real-time analytics. Software also helps in supporting the decision-making process.

Within this market, BFSI will remain the largest end use industry segment from 2023 to 2028 due to increasing demand for artificial intelligence software to fight against cyber-attack and fraudulent activities and to deliver enhanced customer services.

North America will remain the largest region during the forecast period due to increasing penetration of artificial intelligence software in electronic devices and implementation of 5G technologies.

Features of the Software Artificial Intelligence Market

Market Size Estimates: Software artificial intelligence market size estimation in terms of value ($B)

Trend and Forecast Analysis: Market trends (2017-2022) and forecast (2023-2028) by various segments and regions.

Segmentation Analysis: Software artificial intelligence market size by various segments, such as by deployment model, offering, application, end use industry, and region

Regional Analysis: Software artificial intelligence market breakdown by North America, Europe, Asia Pacific, and the Rest of the World.

Growth Opportunities: Analysis on growth opportunities in different by deployment model, offering, application, end use industry, and regions for the software artificial intelligence market.

Strategic Analysis: This includes M&A, new product development, and competitive landscape for the software artificial intelligence market.

Analysis of competitive intensity of the industry based on Porter's Five Forces model.

FAQ

Q1. What is the software artificial intelligence market size?

Answer: The global software artificial intelligence market is expected to reach an estimated $24.7 billion by 2028.

Q2. What is the growth forecast for software artificial intelligence market?

Answer: The global software artificial intelligence market is expected to grow with a CAGR of 22.9% from 2023 to 2028.

Q3. What are the major drivers influencing the growth of the software artificial intelligence market?

Answer: The major drivers for this market are growing demand for self-driving cars and robots, increasing adoption of cloud based applications and services, and rising demand for intelligent virtual assistants.

Q4. What are the major segments for software artificial intelligence market?

Answer: The future of the global software artificial intelligence market looks promising with opportunities in the healthcare, BFSI, law, retail, advertising and media, automotive & transportation, agriculture, and manufacturing end use industries.

Q5. Who are the key software artificial intelligence companies?

Answer: Some of the key software artificial intelligence companies are as follows:

Advanced Micro Devices

Baidu

Atomwise

IBM

Oracle

Cisco

Google LLC

Intel Corporation

Microsoft

Lifegraph

Q6. Which software artificial intelligence segment will be the largest in future?

Answer:Lucintel forecasts that software will remain the largest offering segment over the forecast period due to its ability of extracting data and provide real-time analytics. Software also helps in supporting the decision-making process.

Q7. In software artificial intelligence market, which region is expected to be the largest in next 5 years?

Answer: North America will remain the largest region during the forecast period due to increasing penetration of artificial intelligence software in electronic devices and implementation of 5G technologies.

Q8. Do we receive customization in this report?

Answer: Yes, Lucintel provides 10% Customization Without any Additional Cost.

This report answers following 11 key questions

• Q.1. What are some of the most promising, high-growth opportunities for the software artificial intelligence market by deployment model (on-premises and cloud), offering (hardware, software, and services), application (voice processing, text processing, and image processing), end use industry (healthcare, BFSI, law, retail, advertising and media, automotive & transportation, agriculture, and manufacturing), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
• Q.2. Which segments will grow at a faster pace and why?
• Q.3. Which region will grow at a faster pace and why?
• Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
• Q.5. What are the business risks and competitive threats in this market?
• Q.6. What are the emerging trends in this market and the reasons behind them?
• Q.7. What are some of the changing demands of customers in the market?
• Q.8. What are the new developments in the market? Which companies are leading these developments?
• Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
• Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
• Q.11. What M&A activity did occur in the last five years and how did they impact the industry?