Invest Opportunity in USD 1901.5 Billion AI and Machine Learning in Business Market Size Reach by 2032, Growing with 32% CAGR

Allied Market Research published a new report, titled, " Invest Opportunity in USD 1901.5 Billion AI and Machine Learning in Business Market Size Reach by 2032, Growing with 32% CAGR." The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter’s Five Forces analysis, and competitive landscape. This study is a helpful source of information for market players, investors, VPs, stakeholders, and new entrants to gain thorough understanding of the industry and determine steps to be taken to gain competitive advantage.

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The global AI and ML in business market is segmented on the basis of component, application, enterprise size, end user, and region. On the basis of component, the market is divided into solutions and services. Depending on application, it is divided into predictive analytics, data analytics, supply chain and inventory management, and others. Depending on enterprise size, it is fragmented into large enterprises and small and medium-sized enterprises. On the basis of end user, the market is divided into retail, IT and telecom, manufacturing & logistics, financial services, energy sector (oil & gas), healthcare and others. Region-wise, it is analyzed across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa.

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On the basis of application, the data analytics segment dominated the AI and machine learning in business market in 2022 and is expected to maintain its dominance in the upcoming years, owing to companies gaining a competitive advantage in the market by extracting important information from massive datasets, identifying patterns, trends, and correlations, and utilizing data analytics tools driven by AI and machine learning algorithms, which propels the market growth significantly.

However, the supply chain management segment is expected to witness the highest growth, owing to the improved capabilities that artificial intelligence and machine learning technologies provide for increasing supply chain efficiency, controlling inventory levels, predicting demand, and enhancing logistics.

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By region, North America garnered the highest share in 2021, holding nearly one-third of the global Industry 4.0 market revenue in 2021, and is projected to retain its dominance by 2031. The Asia-Pacific region would also portray the fastest CAGR of 21.0% during the forecast period, owing to analytics, automation, and machine-learning algorithms have released human operators from performing a significant percentage of the detailed work that was previously their duty. Region-wise, North America dominated the AI and machine learning in business market in 2022 and is expected to retain its position during the AI and machine learning in business market forecast period, owing to continuous technological advancements and the adoption of AI and machine learning for many industries such as business, healthcare, and finance, aiding the growth of the AI and machine learning in business market size.

The key players profiled in the AI and machine learning in business industry are Alibaba, Microsoft, Amazon, Google, IBM, Baidu, Tencent, Nvidia, Intel, and Salesforce. These players have adopted various strategies to increase their market penetration and strengthen their position in the AI and machine learning in business industry.

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Key Findings of The Study

● By component, the solution segment accounted highest revenue for the AI and machine learning in business market share in 2022.

● By application, the data analytics segment accounted highest revenue for the AI and ML in business market in 2022.

● By enterprise, the large enterprise segment accounted highest revenue for the AI and ML in business market size in 2022.

● On the basis of end user, the financial services segment generated the highest revenue in 2022.

● According to the AI and machine learning in business market analysis, region-wise, North America generated the highest revenue in 2022.

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Lastly, this report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

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Allied Market Research (AMR) is a market research and business-consulting firm of Allied Analytics LLP, based in Portland, Oregon. AMR offers market research reports, business solutions, consulting services, and insights on markets across 11 industry verticals. Adopting extensive research methodologies, AMR is instrumental in helping its clients to make strategic business decisions and achieve sustainable growth in their market domains. We are equipped with skilled analysts and experts and have a wide experience of working with many Fortune 500 companies and small & medium enterprises.

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