The Artificial Intelligence Products Market is segmented by Type (Hardware, Software, Services), Technology (Deep Learning, Machine Learning, Natural Language Processing, Machine Vision), End-Use (Healthcare, BFSI, Law, Retail, Advertising & Media, Automotive & Transportation, Agriculture, Manufacturing, Others) and Region (North America, Europe, Asia-Pacific, and the Rest of the World).

Market Dynamics

A surge in the number of innovative start-ups and technological advancements has resulted in an increase in investment in artificial intelligence technologies, which boosts product penetration in the coming years. In addition, strong growth in demand for interpreting and analyzing large amounts of data is further boosting the market growth. However, the lack of experienced and trained professionals is likely to hamper the industry’s growth.

Segment Analysis

By Type Trends

The market has been segmented into Hardware, Software, and Services. The software segment accounted for a revenue share of more than 36% in 2021.

Technology Trends

The market has been segmented into Deep Learning, Machine Learning, Natural Language Processing, and Machine Vision. Deep Learning accounted for a revenue share of nearly 35% in 2021.

Regional Trends

North America is expected to remain the largest market, and it holds a revenue share of more than 40% in 2021. This is mainly ascribed to the strong presence of artificial intelligence players in the US. Also, the growing adoption of artificial intelligence (AI) across various industries such as automotive, healthcare, retail, agriculture, marketing, and law, further proliferates the regional market growth.

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