May 16, 2024
ICT

U.S. Artificial Intelligence (AI) Market Size, Growth, Report By 2033

The U.S. artificial intelligence (AI) market size reached USD 37.01 billion in 2023 and is predicted to be worth around USD 369.34 billion by 2033, expanding at a CAGR of 28.83% from 2024 to 2033.

Key Points

  • By offering, the software segment dominated the market with a share of 39.24% in 2023.
  • By offering, the services segment is expected to witness a significant growth in the market during the forecast period.
  • By technology, the machine learning segment dominated the market with a share of 39.32% in 2023.
  • By deployment, the on-premise segment is dominated the market with the market share of 50.76% in 2023.
  • By organization, the large enterprises dominated the market with the share of 57.13% in 2023.
  • By business function, the others segment led the market with 38.58% market share in 2023.
  • By end use, the advertising and media segment dominated the market with a share of 18.77% in 2023.
  • By end-use, the BFSI segment was the second largest segment with a share of 17.15% in 2023.

Artificial Intelligence (AI) Market Size in US 2024 to 2033

The U.S. artificial intelligence (AI) market has witnessed substantial growth in recent years, driven by advancements in technology, increasing adoption across various industries, and supportive government initiatives. AI refers to the simulation of human intelligence processes by machines, including learning, reasoning, and problem-solving. In the U.S., this market encompasses a wide range of applications across sectors such as healthcare, finance, retail, automotive, and manufacturing, among others.

Get a Sample: https://www.precedenceresearch.com/sample/4294

Growth Factors

Several key factors contribute to the growth of the AI market in the U.S. One significant driver is the escalating demand for automation and efficiency in businesses, prompting organizations to leverage AI technologies to streamline operations and enhance productivity. Additionally, the availability of vast amounts of data, coupled with improvements in computing power, has facilitated the development of more sophisticated AI algorithms and applications. Moreover, increasing investments by major technology companies and startups in AI research and development further fuel market expansion.

Regional Insights

The U.S. holds a prominent position in the global AI landscape, characterized by a strong ecosystem of technology companies, research institutions, and academic centers. Regions such as Silicon Valley in California and the Boston area in Massachusetts are notable hubs for AI innovation, attracting talent and investment from around the world. The U.S. government also plays a crucial role in shaping the AI market through policies aimed at promoting research, development, and adoption of AI technologies.

U.S. Artificial Intelligence (AI) Market Scope

Report Coverage Details
Growth Rate from 2024 to 2033 CAGR of 28.83%
U.S. Artificial Intelligence (AI) Market Size in 2023 USD 37.01 Billion
U.S. Artificial Intelligence (AI) Market Size in 2024 USD 48.51 Billion
U.S. Artificial Intelligence (AI) Market Size by 2033 USD 369.34 Billion
Base Year 2023
Forecast Period 2024 to 2033
Segments Covered By Offering, By Technology, By Deployment, By Organization Size, By Business Function, and By End-use

 

U.S. Artificial Intelligence(AI) Market Dynamics

Drivers

Several drivers propel the growth of the AI market in the U.S. These include the increasing need for automation across industries, advancements in deep learning and neural networks, and the rising demand for AI-driven solutions in healthcare, finance, and cybersecurity. Furthermore, the integration of AI with other emerging technologies like IoT (Internet of Things) and 5G networks opens up new opportunities for innovation and market expansion.

Opportunities

The U.S. AI market offers numerous opportunities for businesses and investors. The healthcare sector, in particular, presents significant potential for AI applications in diagnostics, personalized medicine, and patient care. Similarly, AI-powered solutions for autonomous vehicles, smart cities, and robotics are poised for substantial growth. Moreover, the ongoing development of AI chips and specialized hardware accelerators creates new avenues for enhancing AI performance and efficiency.

Challenges

Despite its rapid growth, the U.S. AI market faces certain challenges. Ethical concerns related to data privacy, algorithm biases, and job displacement due to automation are critical issues that need to be addressed. Moreover, the complexity and cost associated with implementing AI solutions, along with the shortage of skilled AI professionals, pose obstacles to widespread adoption across industries.

Read Also: Pork Meat Market Size to Rise USD 411.15 Billion by 2033

U.S. Artificial Intelligence (AI) Market Recent Developments

  • In May 2024, The Department of Homeland Security (DHS) is regulating artificial intelligence for training officers for reviewing refugee status applicants in the United States.
  • In May 2024, Mechanoid, a leading players in the automation and business optimization announced the launch of new software for the transformation of small business sales and marketing by artificial intelligence (AI) and automation.

U.S. Artificial Intelligence (AI) Market Companies

  • AiCure
  • Atomwise, Inc.
  • Ayasdi AI LLC
  • Clarifai, Inc
  • Cyrcadia Health
  • Enlitic, Inc.
  • Google LLC
  • H2O.ai.
  • HyperVerge, Inc.
  • International Business Machines Corporation
  • IBM Watson Health
  • Intel Corporation
  • Microsoft
  • NVIDIA Corporation
  • Sensely, Inc.

Segments Covered in the Report

By Offering

  • Hardware
  • Software
  • Services

By Technology

  • Machine Learning
  • NLP
  • Context Aware Computing
  • Computer Vision

By Deployment

  • On-premise
  • Cloud-based

By Organization Size

  • Large Enterprises
  • SMEs

By Business Function

  • Marketing
  • Security
  • Finance
  • Others

By End-use

  • Healthcare
  • BFSI
  • Law
  • Retail
  • Advertising and Media
  • Automotive and Transportation
  • Agriculture
  • Manufacturing
  • Others

Contact Us:

Mr. Alex

Sales Manager

Call: +1 9197 992 333

Email: sales@precedenceresearch.com

Web: https://www.precedenceresearch.com

Blog: https://www.expresswebwire.com/

Blog: https://www.uswebwire.com/

Blog: https://www.dailytechbulletin.com/

Blog: https://www.autoindustrybulletin.com/

Prathamesh

I have completed my education in Bachelors in Computer Application. A focused learner having a keen interest in the field of digital marketing, SEO, SMM, and Google Analytics enthusiastic to learn new things along with building leadership skills.

View all posts by Prathamesh →

Leave a Reply

Your email address will not be published. Required fields are marked *