Artificial Intelligence Market Size to Surpass Around US$ 1,597.1 Bn By 2030

Ottawa, April 19, 2022 (GLOBE NEWSWIRE) -- The global artificial intelligence (AI) market size was valued at US$ 87.04 billion in 2021. The artificial intelligence technology has gained a rapid traction since its introduction in the market. The rising demand for artificial intelligence technology across various induce verticals such as a retail, BFSI, healthcare, food and beverages, automotive, and logistics is significantly contributing towards the growth of the global artificial intelligence market. Furthermore, the rising adoption of the AI technology in the pharmaceutical manufacturing is expected to have a significant impact on the market growth in the forthcoming years. The biopharmaceutical companies are increasingly adopting the artificial intelligence technology in various applications such as research, drug discovery, and clinical trials, which is significantly fueling the demand for artificial intelligence technology across the globe. The growing penetration of advanced digital technologies across the globe in various application is supporting the growth of the AI market.