Artificial Intelligence (AI) Market to Hit USD 360.36 Billion by 2028; Surging Innovation in Artificial Internet of Things (AIoT) to Augment Growth: Fortune Business Insights

Pune, India, Sept. 16, 2021 (GLOBE NEWSWIRE) -- The global Artificial Intelligence (AI) market size is expected to gain momentum by reaching USD 360.36 billion by 2028 while exhibiting a CAGR of 33.6% between 2021 to 2028. In its report titled, "Artificial Intelligence (AI) Market Size, Share & COVID-19 Impact Analysis, By Component (Hardware, Software, and Services), By Technology (Computer Vision, Machine Learning, Natural Language Processing, and Others), By Deployment (Cloud, On-premises), By Industry (Healthcare, Retail, IT & Telecom, BFSI, Automotive, Advertising & Media, Manufacturing, and Others), and Regional Forecast, 2021-2028" Fortune Business Insights mentions that the market stood at USD 35.92 billion in 2020. Artificial Intelligence has become immensely popular, and industries across the globe are rapidly incorporating it into their processes to improve business operations and customer experience. Not only the big companies but also the small and medium businesses are investing in this technology. Besides, the advancement and implementation of 5G, cloud computing, and a huge database are the factors, which are propelling its demand.