Home Science Technology AI Industry to Surge to US$830 Billion by 2030, Exceeds Earlier Forecasts

AI Industry to Surge to US$830 Billion by 2030, Exceeds Earlier Forecasts

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The global artificial intelligence (AI) industry is poised for unprecedented growth, with projections indicating a staggering rise to nearly $830 billion by 2030, exceeding previous expectations by approximately $90 billion.

Key Developments:

Recent insights from Stocklytics.com highlight the robust expansion of AI technologies, particularly in sectors like Natural Language Processing and AI Robotics. These advancements have not only revolutionized operational efficiencies across industries but also bolstered decision-making capabilities and competitive advantages worldwide.

Market Momentum:

From a valuation of $93 billion in 2020, the AI market is projected to reach $194 billion by 2024, underscoring its rapid trajectory of growth. Looking ahead, market forecasts predict a substantial increase to $826.7 billion by 2030, reflecting accelerated demand and investment in AI-driven innovations.

Segment Breakdown:

  • Machine Learning: Expected to maintain dominance, with projections indicating a market value of $503 billion by 2030.
  • Natural Language Processing: Poised for significant expansion, with estimates reaching $156 billion, marking a remarkable 147% increase from previous forecasts.
  • AI Robotics: Set to double expectations, projecting a market value of $64.3 billion by the end of the decade.

User Expansion:

The adoption of AI tools is on an upward trajectory, with approximately 315 million users anticipated by the close of 2024. This figure is expected to surge to nearly 730 million by 2030, fueled by escalating investments in AI research, expanding applications across consumer sectors, and burgeoning demand for automation and optimization solutions.

Geographic Impact:

Geographically, the United States is positioned as a frontrunner in AI adoption, with projections suggesting every third user will hail from this region by 2030.

In summary, the burgeoning AI industry is poised to reshape global markets, driving unparalleled advancements in technology and user engagement in the coming decade.

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