Lucintel's latest market report analyzed that software artificial intelligence provides attractive opportunities in the healthcare, BFSI, law, retail, advertising and media, automotive & transportation, agriculture, and manufacturing end use industries. The software artificial intelligence market is expected to reach $24.7 billion by 2028 with a CAGR of 22.9%. In this market, software is the largest segment by offering, whereas BFSI is largest by end use industry.
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Based on offering, the software artificial intelligence market is segmented into hardware, software, and services. The software segment accounted for the largest share of the market in 2023 and is expected to register the highest CAGR during the forecast period, due to its ability of extracting data and provide real-time analytics. Software also helps in supporting the decision-making process.
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The Software Artificial Intelligence Market is marked by the presence of several big and small players. Some of the prominent players offering software artificial intelligence include Advanced Micro Devices, Baidu, Atomwise, IBM, Oracle, Cisco, Google LLC, Intel Corporation, Microsoft, and Lifegraph.
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