The artificial intelligence market consists of sales of the artificial intelligence software and related services. Artificial Intelligence(AI) some times referred to as machine intelligence. Artificial intelligence is a wide-ranging branch of computer science-related with building smart machines that can perform tasks that require human intelligence.
The global artificial intelligence market is expected to grow from $28.42 billion in 2019 to $40.74 billion in 2020 at a compound annual growth rate (CAGR) of 43.39%. The growth is mainly due to the COVID-19 health emergency across the globe that has led to a new wave of transformative technologies including the revolutionary artificial intelligence technology (for example - smart machines and robots) emerging as a possible solution to contain the epidemic. The market is then expected to recover and reach $99.94 billion in 2023 at CAGR of 34.86%.