The U.S. artificial intelligence (AI) market size was USD 123.07 billion in 2023, calculated at USD 146.09 billion in 2024 and is expected to reach around USD 851.46 billion by 2034, expanding at a CAGR of 19.3% from 2024 to 2034.
The U.S. artificial intelligence (AI) market size accounted for USD 146.09 billion in 2024 and is expected to reach around USD 851.46 billion by 2034, expanding at a CAGR of 19.3% from 2024 to 2034. The rising demand for artificial intelligence for improving the efficiency and productivity in the businesses that drives teh expansion of the market.
To Access our Exclusive Data Intelligence Tool with 15000+ Database, Visit: Precedence Statistics
Artificial intelligence is the recent advancements in technology, it is the computer systems that allows to perform the complex tasks like analysis, reasoning, solving problems, and making decisions. Artificial intelligence is used in a wide range of applications and industries like healthcare, telecommunications, automotive, electronics, and others. Artificial intelligence plays an important role in the business operations to automate the tasks including consumer service work, fraud detection, lead generation and quality control. The artificial intelligence is helps in increasing efficiency and creates the various new opportunities for the growth of the U.S. artificial intelligence market.
Report Coverage | Details |
Growth Rate from 2024 to 2034 | CAGR of 19.3% |
Market Size in 2023 | USD 123.07 Billion |
Market Size in 2024 | USD 146.09 Billion |
Market Size by 2034 | USD 851.46 Billion |
Base Year | 2023 |
Forecast Period | 2024 to 2034 |
Segments Covered | By Solution, By Technology, and By End Use |
The rising adoption of the artificial intelligence technologies in the healthcare sector in the applications like medical diagnosis, data analysis, drug trials and development, pain management, improving patient outcomes, in pharmaceuticals and others contributing to the growth of the U.S. artificial intelligence market. Artificial intelligence helps in the diagnosis of patients with specific diseases. The number of major pharmaceutical industry is integrating the artificial intelligence for helping in the drug discovery process and reduces the lengthy process of discovering and launching drugs to the market.
Artificial intelligence also helps with the huge amount of data set aiming to help the physician to make informed decisions and manage the patient information effectively. It also helps in the personalized medicine for the better treatment with analyzing the patient data and identifying treatment options. The increasing investment by the U.S. government and major industry leaders on the integration of artificial intelligence, machine learning, and other technologies in the healthcare industry is accelerating the growth of the U.S. artificial intelligence market.
Shortage of the skilled professionals and the high cost of implementation of AI solutions in the organizations are the major factors that are limiting the expansion of the U.S. artificial intelligence U.S. artificial intelligence market. However, the emergence of Ai-related courses in academics to leverage the significance of AI in multiple industries in the United States is observed to create a solution for the hindering factor.
Key players in the United States are focused on increasing federal investment in the artificial intelligence research and development in the collaboration with the academia, industries, international alliances and partners and other non-governmental entities for generating advancement in the artificial intelligence. The United States is investing on the research on the minimizing the challenges for the safer testing, development, deployment, and adaptation of AI technologies. The collaboration of the public and private sector allows strategic leveraging of resources, expertise, and datasets. It also enhances the transformation in research innovations to practices using expertise to published research into the services and products to the marketplace for economic growth.
The services segment dominated the U.S. artificial intelligence market with the share of 39.70% in 2023. Artificial intelligence as a service is employed in large enterprises as well as small enterprises. The employment of artificial intelligence is necessary especially with the amount of advantages Al offers in business management. Additionally, the field of artificial intelligence has experienced ground-breaking advancements in recent times and machine learning techniques have the ability to provide promising results to companies.
As a service, Al can be employed in any branched company especially in current times. Companies that adopt Al and machine learning benefit from a reduction in overall costs as it allows them to cut down the cost on development and research by providing the information by Al, without getting financially involved with the third-party companies.
Further, along with the cost, Al also assists the companies in speeding up the work. Additionally, the Al service provides the company with the required training in how to code and thereby develop complex multi-level infrastructure and hire experts. Also, these services allow the company to customize by corresponding with the data, business and project's needs.
The software segment is expected to show significant growth in the market during the forecast period. Artificial Intelligence as a software is making a wider shift in many sectors as Al systems streamline software development process such as quality testing. Code compilation and reduction of costs and time are a few significant advantages of the same. For example, Al software tools of Google cloud allow developers to work on machine learning design in a cost-effective and time saving manner.
Also, it allows the access of various pre- trained cloud API in order to build machine learning applications such as natural language, computer vision, translation, video, etc. Furthermore, Al as a software enables the execution of complex tasks without any cost outlays. Also, it drives down the time that is used in performing a task. Furthermore, Al software can be operated 24/7 without any interruption or any down time as well as Al software plays with a huge data and reduces human errors, automates the repetitive tasks and processes and facilities quick decision making.
On macro level, the Al services for the organizations are used for:
The deep learning segment held the largest share of 36.53% of the U.S. artificial intelligence market in 2023. Deep learning algorithms, particularly neural networks, have demonstrated superior accuracy in complex tasks such as image and speech recognition, natural language processing, and predictive analytics. This high level of precision makes deep learning indispensable for AI applications where accuracy is paramount.
Companies are leveraging deep learning to innovate and create new products and services, contributing to the segment’s rapid growth. There has been substantial investment in deep learning research and development from both the private sector and government agencies. This influx of capital has fueled advancements and innovation in the field, leading to more robust and versatile deep learning models.
The BFSI segment dominated the U.S. artificial intelligence market with an 19.9% market share in 2023. The adoption of artificial intelligence in the banking and financial sector increases efficiency in operations and enhances their customer centricity. It has a wide range of applications across middle, front, and back office of the BFSI industry. AI is used in finance, human resources operations, IT operations, application maintenance, and data centers.
Segments Covered in the Report
By Solution
By Technology
By End-use
U.S. Artificial Intelligence (AI) Market
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology (Premium Insights)
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5. COVID 19 Impact on U.S. Artificial Intelligence (AI) Market
5.1. COVID-19 Landscape: U.S. Artificial Intelligence (AI) Industry Impact
5.2. COVID 19 - Impact Assessment for the Industry
5.3. COVID 19 Impact: Major Government Policy
5.4. Market Trends and Opportunities in the COVID-19 Landscape
Chapter 6. Market Dynamics Analysis and Trends
6.1. Market Dynamics
6.1.1. Market Drivers
6.1.2. Market Restraints
6.1.3. Market Opportunities
6.2. Porter’s Five Forces Analysis
6.2.1. Bargaining power of suppliers
6.2.2. Bargaining power of buyers
6.2.3. Threat of substitute
6.2.4. Threat of new entrants
6.2.5. Degree of competition
Chapter 7. Competitive Landscape
7.1.1. Company Market Share/Positioning Analysis
7.1.2. Key Strategies Adopted by Players
7.1.3. Vendor Landscape
7.1.3.1. List of Suppliers
7.1.3.2. List of Buyers
Chapter 8. U.S. Artificial Intelligence (AI) Market, By Solution
8.1. U.S. Artificial Intelligence (AI) Market, by Solution, 2024-2034
8.1.1 Hardware
8.1.1.1. Market Revenue and Forecast (2021-2034)
8.1.2. Software
8.1.2.1. Market Revenue and Forecast (2021-2034)
8.1.3. Services
8.1.3.1. Market Revenue and Forecast (2021-2034)
Chapter 9. U.S. Artificial Intelligence (AI) Market, By Technology
9.1. U.S. Artificial Intelligence (AI) Market, by Technology, 2024-2034
9.1.1. Deep Learning
9.1.1.1. Market Revenue and Forecast (2021-2034)
9.1.2. Machine Learning
9.1.2.1. Market Revenue and Forecast (2021-2034)
9.1.3. NLP
9.1.3.1. Market Revenue and Forecast (2021-2034)
9.1.4. Machine Vision
9.1.4.1. Market Revenue and Forecast (2021-2034)
Chapter 10. U.S. Artificial Intelligence (AI) Market, By End-use
10.1. U.S. Artificial Intelligence (AI) Market, by End-use, 2024-2034
10.1.1. Healthcare
10.1.1.1. Market Revenue and Forecast (2021-2034)
10.1.2. BFSI
10.1.2.1. Market Revenue and Forecast (2021-2034)
10.1.3. Law
10.1.3.1. Market Revenue and Forecast (2021-2034)
10.1.4. Retail
10.1.4.1. Market Revenue and Forecast (2021-2034)
10.1.5. Advertising & Media
10.1.5.1. Market Revenue and Forecast (2021-2034)
10.1.6. Automotive & Transportation
10.1.6.1. Market Revenue and Forecast (2021-2034)
10.1.7. Agriculture
10.1.7.1. Market Revenue and Forecast (2021-2034)
10.1.8. Manufacturing
10.1.8.1. Market Revenue and Forecast (2021-2034)
10.1.9. Others
10.1.9.1. Market Revenue and Forecast (2021-2034)
Chapter 11. U.S. Artificial Intelligence (AI) Market, Regional Estimates and Trend Forecast
11.1. U.S.
11.1.1. Market Revenue and Forecast, by Solution (2021-2034)
11.1.2. Market Revenue and Forecast, by Technology (2021-2034)
11.1.3. Market Revenue and Forecast, by End-use (2021-2034)
Chapter 12. Company Profiles
12.1. AiCure
12.1.1. Company Overview
12.1.2. Product Offerings
12.1.3. Financial Performance
12.1.4. Recent Initiatives
12.2. Atomwise, Inc.
12.2.1. Company Overview
12.2.2. Product Offerings
12.2.3. Financial Performance
12.2.4. Recent Initiatives
12.3. Ayasdi AI LLC
12.3.1. Company Overview
12.3.2. Product Offerings
12.3.3. Financial Performance
12.3.4. Recent Initiatives
12.4. Clarifai, Inc
12.4.1. Company Overview
12.4.2. Product Offerings
12.4.3. Financial Performance
12.4.4. Recent Initiatives
12.5. Cyrcadia Health
12.5.1. Company Overview
12.5.2. Product Offerings
12.5.3. Financial Performance
12.5.4. Recent Initiatives
12.6. Enlitic, Inc.
12.6.1. Company Overview
12.6.2. Product Offerings
12.6.3. Financial Performance
12.6.4. Recent Initiatives
12.7. Google LLC
12.7.1. Company Overview
12.7.2. Product Offerings
12.7.3. Financial Performance
12.7.4. Recent Initiatives
12.8. H2O.ai.
12.8.1. Company Overview
12.8.2. Product Offerings
12.8.3. Financial Performance
12.8.4. Recent Initiatives
12.9. HyperVerge, Inc.
12.9.1. Company Overview
12.9.2. Product Offerings
12.9.3. Financial Performance
12.9.4. Recent Initiatives
12.10. International Business Machines Corporation
12.10.1. Company Overview
12.10.2. Product Offerings
12.10.3. Financial Performance
12.10.4. Recent Initiatives
Chapter 13. Research Methodology
13.1. Primary Research
13.2. Secondary Research
13.3. Assumptions
Chapter 14. Appendix
14.1. About Us
14.2. Glossary of Terms
No cookie-cutter, only authentic analysis – take the 1st step to become a Precedence Research client