Decision AI Market

According to a research report "Decision AI Market by Component (Solution & Services), Application (Governance, Risk, & Compliance Management, Financial Forecasting and Budgeting, Custom Decision AI Market by Component (Software & Services), Application (Supply Chain Management and Demand Planning , Asset and Investment Management, Predictive Maintenance), Deployment Mode, Organization Size, Vertical and Region - Global Forecast to 2027" published by MarketsandMarkets, the global Decision AI market size to grow from USD 12.1 billion in 2022 to USD 22.8 billion by 2027, at a Compound Annual Growth Rate (CAGR) of 13.5% during the forecast period. Various factors such as growing use cases in the healthcare sector and increasing need of real time decision making system to drive the adoption of decision AI across various industries.

Need of Real Time Decision Making in Autonomous Vehicle

AI-based smart transportation leverages connected vehicles’ data for various activities, such as real-time traffic flow optimization, efficient traffic light controls, parking space identification, public transport, and road congestion and condition notifications. AI based autonomous driving can help address key use cases such as accessing the roads for predictive parking or parking based on cost or availability can eliminate hours of wasted driving time. Also, detecting accidents in real time to save lives by sending precise GPS coordinates, crash impact data, and other critical information to first responders are some other areas where decision AI will play a pivotal role. These use cases would drive the growth of decision AI solutions in the smart transportation.

Asset and Predictive Manaitenance Application

Fault prediction has been one of the major applications of AI in the energy sector, along with real-time maintenance and identification of ideal maintenance schedules. In an industry where equipment failure is common, with potentially significant consequences, AI combined with appropriate sensors can be useful to monitor equipment and detect failures before they happen, saving resources, money, time, and lives.

Healthcare segment to have the highest CAGR during the forecast period

AI algorithms ingest and analyze a vast amount of information and can help clinicians and researchers identify potential drug candidates in a short time. Deep learning systems can also be used for generating molecules with properties that are expected to be effective against specific diseases and without side effects. AI also plays an important role in drug discovery for chronic diseases, such as cancer. The healthcare industry is expected to grow with highest CAGR due to the numerous use cases in the industry.

APAC to hold higher CAGR during the forecast period

The decision AI market in the APAC region includes key markets such as China, Japan, South Korea, India, and rest of APAC region. The growing eCommerce, online streaming, and internet penetration have resulted in the growth of marketing industries. Initiatives in the advanced technologies and growing investments among startups would enhance the adoption of decision AI solutions in the region. APAC holds the highest CAGR in the decision AI Market and would continue to do so during the forecast period.

Major vendors in the global Decision AI market include IBM (US), Google (US), Facebook (US), Teradata (US), SAS Institute (US), Cognizant (US), Videonetics (India), Weride (China), Oracle (US), and 4Cast (Israel).

Don’t miss out on business opportunities in Specialty Fertilizers Market. Speak to our analyst and gain crucial industry insights that will help your business grow.

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
sales@marketsandmarkets.com