The U.S. artificial intelligence (AI) market size was exhibited at USD 37.01 billion in 2023 and is anticipated to cross 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.
The U.S. Artificial Intelligence (AI) market has experienced robust growth in recent years, driven by advancements in technology, increasing adoption across various industries, and strong government support for AI research and development. AI technologies, including machine learning, natural language processing, and computer vision, are transforming businesses and reshaping the way organizations operate. The market encompasses a wide range of applications such as healthcare, finance, retail, automotive, and cybersecurity, with significant investment pouring into AI startups and established tech giants alike.
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Growth Factors
Several key factors are fueling the growth of the U.S. AI market. First, the exponential growth of data generated across industries has created a demand for sophisticated AI algorithms to extract valuable insights and improve decision-making. Second, the rise of cloud computing and scalable infrastructure has enabled easier deployment of AI solutions. Additionally, increased investment from venture capitalists, government initiatives to promote AI innovation, and growing awareness among businesses about the potential benefits of AI are driving market expansion.
Region Insights
The United States leads the global AI market due to its strong technological infrastructure, advanced research capabilities, and a high concentration of AI talent. Major tech hubs like Silicon Valley, Seattle, and Boston are home to numerous AI startups and research institutions, fostering innovation and collaboration. Additionally, strategic partnerships between academia, industry, and government have created an ecosystem conducive to AI development and adoption.
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
Key drivers of the U.S. AI market include the need for automation and efficiency in industries such as manufacturing, logistics, and customer service. AI-powered solutions are enabling businesses to optimize operations, reduce costs, and enhance customer experiences. Furthermore, the increasing demand for AI-driven insights in healthcare for personalized medicine and predictive analytics is propelling market growth.
Opportunities
The U.S. AI market presents abundant opportunities for companies to innovate and disrupt traditional business models. Areas such as autonomous vehicles, smart cities, virtual assistants, and AI-driven cybersecurity solutions offer significant growth potential. Moreover, partnerships between AI developers and industry players are fostering new use cases and expanding market reach.
Challenges
Despite its promising growth trajectory, the U.S. AI market faces certain challenges. Ethical concerns related to data privacy, bias in AI algorithms, and job displacement due to automation are critical issues that need to be addressed. Additionally, the shortage of skilled AI professionals and the complexity of integrating AI into existing infrastructures pose obstacles to widespread adoption.
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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
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