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Artificial Intelligence (AI) Market 2019-2023 | Evolving Opportunities With ABB and Alphabet | Technavio

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The global artificial intelligence (AI) market size is poised to grow by USD 75.54 billion during 2019-2023, according to a new report by Technavio, progressing at a CAGR of over 33% during the forecast period. Request Free Sample Pages

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Technavio has announced its latest market research report titled global artificial intelligence market 2019-2023. (Graphic: Business Wire)

Technavio has announced its latest market research report titled global artificial intelligence market 2019-2023. (Graphic: Business Wire)

Read the 129-page research report with TOC on “Artificial Intelligence (AI) Market Analysis Report by end-users (retail, banking, manufacturing, healthcare, and others) and geography (APAC, Europe, MEA, North America, and South America) 2019 – 2023”.

The market is driven by the need to increase employee productivity. Also, the ability of AI to prevent fraud and malicious attacks is anticipated to further boost the growth of the artificial intelligence (AI) market.

The popularity of artificial intelligence (AI) has increased tremendously over the last few years. AI has become very useful in completing vital tasks and boosting employee productivity. The technology can improve communication and deploy health focused strategies to help employees in enhancing their well-being. AI can generate data on human performance across several parameters and provide customized insights to managers and HRs. Thus, the need to increase employee productivity will boost the adoption of AI over the next five years.

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Major Five Artificial intelligence (AI) Companies:


ABB has business operations under four segments, namely electrification products, robotics and motion, industrial automation, and power grids. The company offers predictive emission monitoring system, which helps the energy sector to predict emission concentrations based on process data such as load, operating pressure, fuel flow, and ambient air temperature using an empirical model.


Alphabet is one of the largest IT companies in the world, mostly known for its search engine; Google. Google includes products associated with the Internet such as search, ads, commerce, maps, YouTube, google cloud, android, chrome, and google play, as well as the hardware initiatives of the company. Under its AI category, the company offers Google Sunroof and AI home energy management systems.


GENERAL ELECTRIC owns and operates businesses under various segments, such as power, renewable energy, oil & gas, aviation, healthcare, transportation, lighting, and capital. The company provides AI-enabled digital solutions for different verticals in the energy industry including steam, gas, nuclear, wind, hydro, solar, transmission, distribution, substation, and prosumer.


IBM has business operations under various categories, namely cognitive solutions, global business services, technology services and cloud platforms, systems, and global financing. The company’s key offerings in the AI market include IBM Watson and Artificial Intelligence Consulting Services.


Siemens provides digital AI-based solutions for power generation and energy management to increase productivity, efficiency, reliability, flexibility, and performance. Siemens is also a leading provider of automation technologies and digital services for safe, secure, and efficient buildings and infrastructures.

Technavio has segmented the artificial intelligence (AI) market based on the end-users and region.

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Artificial intelligence (AI) End-Users Outlook (Revenue, USD Million, 2019 – 2023)

  • Retail
  • Banking
  • Manufacturing
  • Healthcare
  • Others

Others Artificial intelligence (AI) Regional Outlook (Revenue, USD Million, 2019 – 2023)

  • APAC
  • Europe
  • MEA
  • North America
  • South America

Technavio’s sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more. Request a free sample report

Related Reports on Information Technology are:

Artificial Intelligence (AI) Market in Retail Sector – Global Artificial Intelligence (AI) Market in Retail Sector by application (sales and marketing, in-store, planning, procurement, and production; and logistics management) and geography (APAC, Europe, MEA, North America, and South America).

Artificial Intelligence (AI) Chips Market – Global Artificial Intelligence (AI) Chips Market by product (GPUs, ASICs, CPUs, and FPGAs) and geography (the Americas, APAC, and EMEA).

About Technavio

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