Artificial intelligence (AI) market size to grow by USD 125.3 billion from 2022 to 2027; Prevention of fraud and malicious attacks to drive market growth – Technavio

NEW YORK, June 20, 2023 /PRNewswire/ — According to Technavio, the global artificial intelligence (AI) market size is estimated to grow by USD 125.3 billion from 2022 to 2027. The market is estimated to grow at a CAGR of 22.26% during the forecast period. This report also offers a 5-year historical (2017-2021) data projection of market size, segmentation, and region. Discover some insights on market size before buying the full report -Request a sample report

Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak. The Bargaining Power of Buyers & Suppliers and the Threat of New Entrants, Rivalry, and Substitutes have also been analyzed and rated between LOW-HIGH to provide a holistic view of market favorability.Find Technavio’s Exclusive Analysis of Price Sensitivity, Adoption Lifecycle, Customer Purchase Basket, Adoption Rates, and Purchase Criteria
One of the core components of the customer landscape is price sensitivity, an analysis of which will help companies refine marketing strategies to gain a competitive advantage. Another key aspect is price sensitivity drivers (purchases are undifferentiated, the purchase is a key cost to buyers, and quality is not important), which range between LOW and HIGH.Furthermore, market adoption rates for all regions have been covered.The artificial intelligence market report also offers information on the criticality of inputs, R&D, CAPEX, technology, and products of 15 vendors listed below –
Advanced Micro Devices Inc., Alphabet Inc., Amazon Web Services Inc., Apple Inc., Argo AI LLC, Baidu Inc., China Cambrian Technology Co. Ltd., CognitiveScale, DataDirect Networks Inc., Graphcore Ltd., Huawei Technologies Co. Ltd., Intel Corp., International Business Machines Corp., Microsoft Corp., Nuance Communications Inc., NVIDIA Corp., Oracle Corp., Qualcomm Inc., Tesla Inc., and Wipro Ltd.
Download a Sample Report!
Artificial Intelligence (AI) Market – Segmentation AssessmentSegment OverviewTechnavio has segmented the market based on component (software, hardware, and services), end-user (retail, banking, manufacturing, healthcare, and others), and geography (North America, Europe, APAC, South America, and Middle East and Africa). 
The market share growth by the software segment will be significant during the forecast period. AI software enables developers to create intelligent applications and enhance existing applications with machine learning. It also helps improve employee experience and provides workers with efficient, automated solutions to do manual jobs. Such benefits are increasing the dependence on AI software among end-users, which is driving the growth of the segment.To procure the data – Buy report!
Artificial Intelligence (AI) Market – Market Dynamics
Key factor driving market growth
The market is driven by the prevention of fraud and malicious attacks.The rising incidences of fraud and malicious attacks have compelled adopt AT technologies to combat them effectively.The use of AI technologies in cyber technology solutions helps organizations secure their users’ data against digital security threats.AI predicts cyberattacks by tracking cyber threats through cybersecurity analytics. It uses Big Data to create predictive analyses of how and when cyberattacks will occur.Many such benefits are increasing the use of AI in cybersecurity applications, which is driving the growth of the market.Leading trends influencing the market 
The emergence of narrow AI is the key trend in the market.Narrow AI enables the implementation of AI technologies to establish a system to replicate human intelligence for a dedicated purpose.Siri is one example of narrow AI. It has been designed by Apple for use in its iPhones/iPads for some specific tasks, such as setting up reminders or answering simple questions.Another example for narrow AI is IBM’s Watson supercomputer. It became famous for winning against a human contestant in the game show Jeopardy.The scope of narrow AI is expected to expand and be implemented on a wide range of problems in years to come.This trend is expected to have a positive impact on the growth of the market during the forecast period.Major challenges hindering the market growth
The shortage of AI experts is the key challenge in the market.Finding AI experts is difficult as there is a big competition among the top technology companies to hire the best talent.In addition, most companies lack the expertise that is needed to handle AI systems effectively.This is resulting in the lower adoption of AI in some of the major sectors, which is hindering the growth of the market in focus.Geography OverviewBy geography, the global artificial intelligence (AI) market is segmented into North America, Europe, APAC, South America, and Middle East and Africa. The report provides actionable insights and estimates the contribution of all regions to the growth of the global artificial intelligence (AI) market.
North America is estimated to contribute 56% to the growth of the global market during the forecast period. Increased investments in AI technologies by large and small enterprises in the retail and e-commerce sector are driving the growth of the regional market. In addition, the increase in technological advances, the rise in the number of connected devices, and the growth in the IoT device market are contributing to the growth of the regional market.For Insights on the market dynamics & segmentations VIEW PDF SAMPLE !
What are the key data covered in this Artificial Intelligence (AI) Market report?
CAGR of the market during the forecast periodDetailed information on factors that will drive the growth of the Artificial Intelligence (AI) market between 2023 and 2027Precise estimation of the size of the Artificial Intelligence (AI) market and its contribution to the market with a focus on the parent marketAccurate predictions about upcoming trends and changes in consumer behaviorGrowth of the Artificial Intelligence (AI) market across North America, Europe, APAC, South America, and Middle East and AfricaA thorough analysis of the market’s competitive landscape and detailed information about vendorsComprehensive analysis of factors that will challenge the growth of Artificial Intelligence (AI) market vendorsGain instant access to 17,000+ market research reports. 
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Related Reports:
The deep learning market is estimated to grow at a CAGR of 29.79% between 2022 and 2027. The size of the market is forecast to increase by USD 11113.13 million. The increasing entry of startups is notably driving the market growth, although factors such as the lack of technical expertise may impede the market growth.The conversational AI market size is expected to increase by USD 1.14 billion from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 21.6%. The growth in natural language processing (NLP), machine learning (ML), and AI technologies is notably driving the conversational AI market’s growth, although factors such as resistance to using chatbots may impede the market growth.Artificial Intelligence (AI) Market Scope
Report Coverage
Details
Base year
2022
Historic period
2017-2021
Forecast period
2023-2027
Growth momentum & CAGR
Accelerate at a CAGR of 22.26%
Market growth 2023-2027
USD 125.3 billion
Market structure
Fragmented
YoY growth 2022-2023 (%)
20.48
Regional analysis
North America, Europe, APAC, South America, and Middle East and Africa
Performing market contribution
North America at 56%
Key countries
US, China, Germany, UK, and France
Competitive landscape
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks
Key companies profiled
Advanced Micro Devices Inc., Alphabet Inc., Amazon Web Services Inc., Apple Inc., Argo AI LLC, Baidu Inc., China Cambrian Technology Co. Ltd., CognitiveScale, DataDirect Networks Inc., Graphcore Ltd., Huawei Technologies Co. Ltd., Intel Corp., International Business Machines Corp., Microsoft Corp., Nuance Communications Inc., NVIDIA Corp., Oracle Corp., Qualcomm Inc., Tesla Inc., and Wipro Ltd.
Market dynamics
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period.
Customization purview
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.
Table of Contents
1 Executive Summary
1.1 Market overviewExhibit 01: Executive Summary – Chart on Market OverviewExhibit 02: Executive Summary – Data Table on Market OverviewExhibit 03: Executive Summary – Chart on Global Market CharacteristicsExhibit 04: Executive Summary – Chart on Market by GeographyExhibit 05: Executive Summary – Chart on Market Segmentation by ComponentExhibit 06: Executive Summary – Chart on Market Segmentation by End-userExhibit 07: Executive Summary – Chart on Incremental GrowthExhibit 08: Executive Summary – Data Table on Incremental GrowthExhibit 09: Executive Summary – Chart on Vendor Market Positioning2 Market Landscape
2.1 Market ecosystemExhibit 10: Parent marketExhibit 11: Market Characteristics3 Market Sizing
3.1 Market definitionExhibit 12: Offerings of vendors included in the market definition3.2 Market segment analysis Exhibit 13: Market segments3.3 Market size 20223.4 Market outlook: Forecast for 2022-2027 Exhibit 14: Chart on Global – Market size and forecast 2022-2027 ($ billion)Exhibit 15: Data Table on Global – Market size and forecast 2022-2027 ($ billion)Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)4 Historic Market Size
4.1 Global artificial intelligence (AI) market 2017 – 2021 Exhibit 18: Historic Market Size – Data Table on Global artificial intelligence (AI) market 2017 – 2021 ($ billion)4.2 Component Segment Analysis 2017 – 2021 Exhibit 19: Historic Market Size – Component Segment 2017 – 2021 ($ billion)4.3 End-user Segment Analysis 2017 – 2021 Exhibit 20: Historic Market Size – End-user Segment 2017 – 2021 ($ billion)4.4 Geography Segment Analysis 2017 – 2021 Exhibit 21: Historic Market Size – Geography Segment 2017 – 2021 ($ billion)4.5 Country Segment Analysis 2017 – 2021 Exhibit 22: Historic Market Size – Country Segment 2017 – 2021 ($ billion)5 Five Forces Analysis
5.1 Five forces summaryExhibit 23: Five forces analysis – Comparison between 2022 and 20275.2 Bargaining power of buyers Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 20275.3 Bargaining power of suppliers Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 20275.4 Threat of new entrants Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 20275.5 Threat of substitutes Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 20275.6 Threat of rivalryExhibit 28: Threat of rivalry – Impact of key factors in 2022 and 20275.7 Market conditionExhibit 29: Chart on Market condition – Five forces 2022 and 20276 Market Segmentation by Component
6.1 Market segmentsExhibit 30: Chart on Component – Market share 2022-2027 (%)Exhibit 31: Data Table on Component – Market share 2022-2027 (%)6.2 Comparison by Component Exhibit 32: Chart on Comparison by ComponentExhibit 33: Data Table on Comparison by Component6.3 Software – Market size and forecast 2022-2027 Exhibit 34: Chart on Software – Market size and forecast 2022-2027 ($ billion)Exhibit 35: Data Table on Software – Market size and forecast 2022-2027 ($ billion)Exhibit 36: Chart on Software – Year-over-year growth 2022-2027 (%)Exhibit 37: Data Table on Software – Year-over-year growth 2022-2027 (%)6.4 Hardware – Market size and forecast 2022-2027 Exhibit 38: Chart on Hardware – Market size and forecast 2022-2027 ($ billion)Exhibit 39: Data Table on Hardware – Market size and forecast 2022-2027 ($ billion)Exhibit 40: Chart on Hardware – Year-over-year growth 2022-2027 (%)Exhibit 41: Data Table on Hardware – Year-over-year growth 2022-2027 (%)6.5 Services – Market size and forecast 2022-2027 Exhibit 42: Chart on Services – Market size and forecast 2022-2027 ($ billion)Exhibit 43: Data Table on Services – Market size and forecast 2022-2027 ($ billion)Exhibit 44: Chart on Services – Year-over-year growth 2022-2027 (%)Exhibit 45: Data Table on Services – Year-over-year growth 2022-2027 (%)6.6 Market opportunity by Component Exhibit 46: Market opportunity by Component ($ billion)7 Market Segmentation by End-user
7.1 Market segmentsExhibit 47: Chart on End-user – Market share 2022-2027 (%)Exhibit 48: Data Table on End-user – Market share 2022-2027 (%)7.2 Comparison by End-user Exhibit 49: Chart on Comparison by End-userExhibit 50: Data Table on Comparison by End-user7.3 Retail – Market size and forecast 2022-2027 Exhibit 51: Chart on Retail – Market size and forecast 2022-2027 ($ billion)Exhibit 52: Data Table on Retail – Market size and forecast 2022-2027 ($ billion)Exhibit 53: Chart on Retail – Year-over-year growth 2022-2027 (%)Exhibit 54: Data Table on Retail – Year-over-year growth 2022-2027 (%)7.4 Banking – Market size and forecast 2022-2027 Exhibit 55: Chart on Banking – Market size and forecast 2022-2027 ($ billion)Exhibit 56: Data Table on Banking – Market size and forecast 2022-2027 ($ billion)Exhibit 57: Chart on Banking – Year-over-year growth 2022-2027 (%)Exhibit 58: Data Table on Banking – Year-over-year growth 2022-2027 (%)7.5 Manufacturing – Market size and forecast 2022-2027 Exhibit 59: Chart on Manufacturing – Market size and forecast 2022-2027 ($ billion)Exhibit 60: Data Table on Manufacturing – Market size and forecast 2022-2027 ($ billion)Exhibit 61: Chart on Manufacturing – Year-over-year growth 2022-2027 (%)Exhibit 62: Data Table on Manufacturing – Year-over-year growth 2022-2027 (%)7.6 Healthcare – Market size and forecast 2022-2027 Exhibit 63: Chart on Healthcare – Market size and forecast 2022-2027 ($ billion)Exhibit 64: Data Table on Healthcare – Market size and forecast 2022-2027 ($ billion)Exhibit 65: Chart on Healthcare – Year-over-year growth 2022-2027 (%)Exhibit 66: Data Table on Healthcare – Year-over-year growth 2022-2027 (%)7.7 Others – Market size and forecast 2022-2027 Exhibit 67: Chart on Others – Market size and forecast 2022-2027 ($ billion)Exhibit 68: Data Table on Others – Market size and forecast 2022-2027 ($ billion)Exhibit 69: Chart on Others – Year-over-year growth 2022-2027 (%)Exhibit 70: Data Table on Others – Year-over-year growth 2022-2027 (%)7.8 Market opportunity by End-user Exhibit 71: Market opportunity by End-user ($ billion)8 Customer Landscape
8.1 Customer landscape overview Exhibit 72: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria9 Geographic Landscape
9.1 Geographic segmentation Exhibit 73: Chart on Market share by geography 2022-2027 (%)Exhibit 74: Data Table on Market share by geography 2022-2027 (%)9.2 Geographic comparison Exhibit 75: Chart on Geographic comparisonExhibit 76: Data Table on Geographic comparison9.3 North America – Market size and forecast 2022-2027 Exhibit 77: Chart on North America – Market size and forecast 2022-2027 ($ billion)Exhibit 78: Data Table on North America – Market size and forecast 2022-2027 ($ billion)Exhibit 79: Chart on North America – Year-over-year growth 2022-2027 (%)Exhibit 80: Data Table on North America – Year-over-year growth 2022-2027 (%)9.4 Europe – Market size and forecast 2022-2027 Exhibit 81: Chart on Europe – Market size and forecast 2022-2027 ($ billion)Exhibit 82: Data Table on Europe – Market size and forecast 2022-2027 ($ billion)Exhibit 83: Chart on Europe – Year-over-year growth 2022-2027 (%)Exhibit 84: Data Table on Europe – Year-over-year growth 2022-2027 (%)9.5 APAC – Market size and forecast 2022-2027 Exhibit 85: Chart on APAC – Market size and forecast 2022-2027 ($ billion)Exhibit 86: Data Table on APAC – Market size and forecast 2022-2027 ($ billion)Exhibit 87: Chart on APAC – Year-over-year growth 2022-2027 (%)Exhibit 88: Data Table on APAC – Year-over-year growth 2022-2027 (%)9.6 South America – Market size and forecast 2022-2027 Exhibit 89: Chart on South America – Market size and forecast 2022-2027 ($ billion)Exhibit 90: Data Table on South America – Market size and forecast 2022-2027 ($ billion)Exhibit 91: Chart on South America – Year-over-year growth 2022-2027 (%)Exhibit 92: Data Table on South America – Year-over-year growth 2022-2027 (%)9.7 Middle East and Africa – Market size and forecast 2022-2027 Exhibit 93: Chart on Middle East and Africa – Market size and forecast 2022-2027 ($ billion)Exhibit 94: Data Table on Middle East and Africa – Market size and forecast 2022-2027 ($ billion)Exhibit 95: Chart on Middle East and Africa – Year-over-year growth 2022-2027 (%)Exhibit 96: Data Table on Middle East and Africa – Year-over-year growth 2022-2027 (%)9.8 US – Market size and forecast 2022-2027 Exhibit 97: Chart on US – Market size and forecast 2022-2027 ($ billion)Exhibit 98: Data Table on US – Market size and forecast 2022-2027 ($ billion)Exhibit 99: Chart on US – Year-over-year growth 2022-2027 (%)Exhibit 100: Data Table on US – Year-over-year growth 2022-2027 (%)9.9 China – Market size and forecast 2022-2027 Exhibit 101: Chart on China – Market size and forecast 2022-2027 ($ billion)Exhibit 102: Data Table on China – Market size and forecast 2022-2027 ($ billion)Exhibit 103: Chart on China – Year-over-year growth 2022-2027 (%)Exhibit 104: Data Table on China – Year-over-year growth 2022-2027 (%)9.10 Germany – Market size and forecast 2022-2027 Exhibit 105: Chart on Germany – Market size and forecast 2022-2027 ($ billion)Exhibit 106: Data Table on Germany – Market size and forecast 2022-2027 ($ billion)Exhibit 107: Chart on Germany – Year-over-year growth 2022-2027 (%)Exhibit 108: Data Table on Germany – Year-over-year growth 2022-2027 (%)9.11 UK – Market size and forecast 2022-2027 Exhibit 109: Chart on UK – Market size and forecast 2022-2027 ($ billion)Exhibit 110: Data Table on UK – Market size and forecast 2022-2027 ($ billion)Exhibit 111: Chart on UK – Year-over-year growth 2022-2027 (%)Exhibit 112: Data Table on UK – Year-over-year growth 2022-2027 (%)9.12 France – Market size and forecast 2022-2027 Exhibit 113: Chart on France – Market size and forecast 2022-2027 ($ billion)Exhibit 114: Data Table on France – Market size and forecast 2022-2027 ($ billion)Exhibit 115: Chart on France – Year-over-year growth 2022-2027 (%)Exhibit 116: Data Table on France – Year-over-year growth 2022-2027 (%)9.13 Market opportunity by geography Exhibit 117: Market opportunity by geography ($ billion)10 Drivers, Challenges, and Trends
10.1 Market drivers10.2 Market challenges10.3 Impact of drivers and challenges Exhibit 118: Impact of drivers and challenges in 2022 and 202710.4 Market trends11 Vendor Landscape
11.1 Overview11.2 Vendor landscapeExhibit 119: Overview on Criticality of inputs and Factors of differentiation11.3 Landscape disruptionExhibit 120: Overview on factors of disruption11.4 Industry risksExhibit 121: Impact of key risks on business12 Vendor Analysis
12.1 Vendors coveredExhibit 122: Vendors covered12.2 Market positioning of vendors Exhibit 123: Matrix on vendor position and classification12.3 Advanced Micro Devices Inc. Exhibit 124: Advanced Micro Devices Inc. – OverviewExhibit 125: Advanced Micro Devices Inc. – Business segmentsExhibit 126: Advanced Micro Devices Inc. – Key newsExhibit 127: Advanced Micro Devices Inc. – Key offeringsExhibit 128: Advanced Micro Devices Inc. – Segment focus12.4 Alphabet Inc.Exhibit 129: Alphabet Inc. – OverviewExhibit 130: Alphabet Inc. – Business segmentsExhibit 131: Alphabet Inc. – Key newsExhibit 132: Alphabet Inc. – Key offeringsExhibit 133: Alphabet Inc. – Segment focus12.5 Amazon Web Services Inc. Exhibit 134: Amazon Web Services Inc. – OverviewExhibit 135: Amazon Web Services Inc. – Product / ServiceExhibit 136: Amazon Web Services Inc. – Key newsExhibit 137: Amazon Web Services Inc. – Key offerings12.6 Apple Inc.Exhibit 138: Apple Inc. – OverviewExhibit 139: Apple Inc. – Business segmentsExhibit 140: Apple Inc. – Key newsExhibit 141: Apple Inc. – Key offeringsExhibit 142: Apple Inc. – Segment focus12.7 Argo AI LLCExhibit 143: Argo AI LLC – OverviewExhibit 144: Argo AI LLC – Product / ServiceExhibit 145: Argo AI LLC – Key offerings12.8 Baidu Inc.Exhibit 146: Baidu Inc. – OverviewExhibit 147: Baidu Inc. – Business segmentsExhibit 148: Baidu Inc. – Key offeringsExhibit 149: Baidu Inc. – Segment focus12.9 CognitiveScaleExhibit 150: CognitiveScale – OverviewExhibit 151: CognitiveScale – Product / ServiceExhibit 152: CognitiveScale – Key newsExhibit 153: CognitiveScale – Key offerings12.10 Intel Corp.Exhibit 154: Intel Corp. – OverviewExhibit 155: Intel Corp. – Business segmentsExhibit 156: Intel Corp. – Key newsExhibit 157: Intel Corp. – Key offeringsExhibit 158: Intel Corp. – Segment focus12.11 International Business Machines Corp. Exhibit 159: International Business Machines Corp. – OverviewExhibit 160: International Business Machines Corp. – Business segmentsExhibit 161: International Business Machines Corp. – Key newsExhibit 162: International Business Machines Corp. – Key offeringsExhibit 163: International Business Machines Corp. – Segment focus12.12 Microsoft Corp.Exhibit 164: Microsoft Corp. – OverviewExhibit 165: Microsoft Corp. – Business segmentsExhibit 166: Microsoft Corp. – Key newsExhibit 167: Microsoft Corp. – Key offeringsExhibit 168: Microsoft Corp. – Segment focus12.13 Nuance Communications Inc. Exhibit 169: Nuance Communications Inc. – OverviewExhibit 170: Nuance Communications Inc. – Business segmentsExhibit 171: Nuance Communications Inc. – Key offeringsExhibit 172: Nuance Communications Inc. – Segment focus12.14 NVIDIA Corp.Exhibit 173: NVIDIA Corp. – OverviewExhibit 174: NVIDIA Corp. – Business segmentsExhibit 175: NVIDIA Corp. – Key newsExhibit 176: NVIDIA Corp. – Key offeringsExhibit 177: NVIDIA Corp. – Segment focus12.15 Oracle Corp.Exhibit 178: Oracle Corp. – OverviewExhibit 179: Oracle Corp. – Business segmentsExhibit 180: Oracle Corp. – Key newsExhibit 181: Oracle Corp. – Key offeringsExhibit 182: Oracle Corp. – Segment focus12.16 Tesla Inc.Exhibit 183: Tesla Inc. – OverviewExhibit 184: Tesla Inc. – Business segmentsExhibit 185: Tesla Inc. – Key newsExhibit 186: Tesla Inc. – Key offeringsExhibit 187: Tesla Inc. – Segment focus12.17 Wipro Ltd.Exhibit 188: Wipro Ltd. – OverviewExhibit 189: Wipro Ltd. – Business segmentsExhibit 190: Wipro Ltd. – Key newsExhibit 191: Wipro Ltd. – Key offeringsExhibit 192: Wipro Ltd. – Segment focus13 Appendix
13.1 Scope of the report13.2 Inclusions and exclusions checklist Exhibit 193: Inclusions checklistExhibit 194: Exclusions checklist13.3 Currency conversion rates for US$ Exhibit 195: Currency conversion rates for US$13.4 Research methodologyExhibit 196: Research methodologyExhibit 197: Validation techniques employed for market sizingExhibit 198: Information sources13.5 List of abbreviations Exhibit 199: List of abbreviationsAbout UsTechnavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
ContactTechnavio ResearchJesse MaidaMedia & Marketing ExecutiveUS: +1 844 364 1100UK: +44 203 893 3200Email: media@technavio.comWebsite: www.technavio.com

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SOURCE Technavio 

NEW YORK, June 20, 2023 /PRNewswire/ — According to Technavio, the global artificial intelligence (AI) market size is estimated to grow by USD 125.3 billion from 2022 to 2027. The market is estimated to grow at a CAGR of 22.26% during the forecast period. This report also offers a 5-year historical (2017-2021) data projection of market size, segmentation, and region. Discover some insights on market size before buying the full report –Request a sample report

Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak. The Bargaining Power of Buyers & Suppliers and the Threat of New Entrants, Rivalry, and Substitutes have also been analyzed and rated between LOW-HIGH to provide a holistic view of market favorability.

Find Technavio’s Exclusive Analysis of Price Sensitivity, Adoption Lifecycle, Customer Purchase Basket, Adoption Rates, and Purchase Criteria

One of the core components of the customer landscape is price sensitivity, an analysis of which will help companies refine marketing strategies to gain a competitive advantage. Another key aspect is price sensitivity drivers (purchases are undifferentiated, the purchase is a key cost to buyers, and quality is not important), which range between LOW and HIGH.Furthermore, market adoption rates for all regions have been covered.

The artificial intelligence market report also offers information on the criticality of inputs, R&D, CAPEX, technology, and products of 15 vendors listed below –

Advanced Micro Devices Inc., Alphabet Inc., Amazon Web Services Inc., Apple Inc., Argo AI LLC, Baidu Inc., China Cambrian Technology Co. Ltd., CognitiveScale, DataDirect Networks Inc., Graphcore Ltd., Huawei Technologies Co. Ltd., Intel Corp., International Business Machines Corp., Microsoft Corp., Nuance Communications Inc., NVIDIA Corp., Oracle Corp., Qualcomm Inc., Tesla Inc., and Wipro Ltd.

Download a Sample Report!

Artificial Intelligence (AI) Market – Segmentation Assessment

Segment Overview
Technavio has segmented the market based on component (software, hardware, and services), end-user (retail, banking, manufacturing, healthcare, and others), and geography (North America, Europe, APAC, South America, and Middle East and Africa). 

The market share growth by the software segment will be significant during the forecast period. AI software enables developers to create intelligent applications and enhance existing applications with machine learning. It also helps improve employee experience and provides workers with efficient, automated solutions to do manual jobs. Such benefits are increasing the dependence on AI software among end-users, which is driving the growth of the segment.

To procure the data – Buy report!

Artificial Intelligence (AI) Market – Market Dynamics

Key factor driving market growth

The market is driven by the prevention of fraud and malicious attacks.The rising incidences of fraud and malicious attacks have compelled adopt AT technologies to combat them effectively.The use of AI technologies in cyber technology solutions helps organizations secure their users’ data against digital security threats.AI predicts cyberattacks by tracking cyber threats through cybersecurity analytics. It uses Big Data to create predictive analyses of how and when cyberattacks will occur.Many such benefits are increasing the use of AI in cybersecurity applications, which is driving the growth of the market.

Leading trends influencing the market 

The emergence of narrow AI is the key trend in the market.Narrow AI enables the implementation of AI technologies to establish a system to replicate human intelligence for a dedicated purpose.Siri is one example of narrow AI. It has been designed by Apple for use in its iPhones/iPads for some specific tasks, such as setting up reminders or answering simple questions.Another example for narrow AI is IBM’s Watson supercomputer. It became famous for winning against a human contestant in the game show Jeopardy.The scope of narrow AI is expected to expand and be implemented on a wide range of problems in years to come.This trend is expected to have a positive impact on the growth of the market during the forecast period.

Major challenges hindering the market growth

The shortage of AI experts is the key challenge in the market.Finding AI experts is difficult as there is a big competition among the top technology companies to hire the best talent.In addition, most companies lack the expertise that is needed to handle AI systems effectively.This is resulting in the lower adoption of AI in some of the major sectors, which is hindering the growth of the market in focus.

Geography Overview
By geography, the global artificial intelligence (AI) market is segmented into North America, Europe, APAC, South America, and Middle East and Africa. The report provides actionable insights and estimates the contribution of all regions to the growth of the global artificial intelligence (AI) market.

North America is estimated to contribute 56% to the growth of the global market during the forecast period. Increased investments in AI technologies by large and small enterprises in the retail and e-commerce sector are driving the growth of the regional market. In addition, the increase in technological advances, the rise in the number of connected devices, and the growth in the IoT device market are contributing to the growth of the regional market.

For Insights on the market dynamics & segmentations VIEW PDF SAMPLE !

What are the key data covered in this Artificial Intelligence (AI) Market report?

CAGR of the market during the forecast periodDetailed information on factors that will drive the growth of the Artificial Intelligence (AI) market between 2023 and 2027Precise estimation of the size of the Artificial Intelligence (AI) market and its contribution to the market with a focus on the parent marketAccurate predictions about upcoming trends and changes in consumer behaviorGrowth of the Artificial Intelligence (AI) market across North America, Europe, APAC, South America, and Middle East and AfricaA thorough analysis of the market’s competitive landscape and detailed information about vendorsComprehensive analysis of factors that will challenge the growth of Artificial Intelligence (AI) market vendors

Gain instant access to 17,000+ market research reports. 

Technavio’s SUBSCRIPTION platform

Related Reports:

The deep learning market is estimated to grow at a CAGR of 29.79% between 2022 and 2027. The size of the market is forecast to increase by USD 11113.13 million. The increasing entry of startups is notably driving the market growth, although factors such as the lack of technical expertise may impede the market growth.The conversational AI market size is expected to increase by USD 1.14 billion from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 21.6%. The growth in natural language processing (NLP), machine learning (ML), and AI technologies is notably driving the conversational AI market’s growth, although factors such as resistance to using chatbots may impede the market growth.

Artificial Intelligence (AI) Market Scope

Report Coverage

Details

Base year

2022

Historic period

2017-2021

Forecast period

2023-2027

Growth momentum & CAGR

Accelerate at a CAGR of 22.26%

Market growth 2023-2027

USD 125.3 billion

Market structure

Fragmented

YoY growth 2022-2023 (%)

20.48

Regional analysis

North America, Europe, APAC, South America, and Middle East and Africa

Performing market contribution

North America at 56%

Key countries

US, China, Germany, UK, and France

Competitive landscape

Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks

Key companies profiled

Advanced Micro Devices Inc., Alphabet Inc., Amazon Web Services Inc., Apple Inc., Argo AI LLC, Baidu Inc., China Cambrian Technology Co. Ltd., CognitiveScale, DataDirect Networks Inc., Graphcore Ltd., Huawei Technologies Co. Ltd., Intel Corp., International Business Machines Corp., Microsoft Corp., Nuance Communications Inc., NVIDIA Corp., Oracle Corp., Qualcomm Inc., Tesla Inc., and Wipro Ltd.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period.

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Table of Contents

1 Executive Summary

1.1 Market overviewExhibit 01: Executive Summary – Chart on Market OverviewExhibit 02: Executive Summary – Data Table on Market OverviewExhibit 03: Executive Summary – Chart on Global Market CharacteristicsExhibit 04: Executive Summary – Chart on Market by GeographyExhibit 05: Executive Summary – Chart on Market Segmentation by ComponentExhibit 06: Executive Summary – Chart on Market Segmentation by End-userExhibit 07: Executive Summary – Chart on Incremental GrowthExhibit 08: Executive Summary – Data Table on Incremental GrowthExhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

2.1 Market ecosystemExhibit 10: Parent marketExhibit 11: Market Characteristics

3 Market Sizing

3.1 Market definitionExhibit 12: Offerings of vendors included in the market definition3.2 Market segment analysis Exhibit 13: Market segments3.3 Market size 20223.4 Market outlook: Forecast for 2022-2027 Exhibit 14: Chart on Global – Market size and forecast 2022-2027 ($ billion)Exhibit 15: Data Table on Global – Market size and forecast 2022-2027 ($ billion)Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

4.1 Global artificial intelligence (AI) market 2017 – 2021 Exhibit 18: Historic Market Size – Data Table on Global artificial intelligence (AI) market 2017 – 2021 ($ billion)4.2 Component Segment Analysis 2017 – 2021 Exhibit 19: Historic Market Size – Component Segment 2017 – 2021 ($ billion)4.3 End-user Segment Analysis 2017 – 2021 Exhibit 20: Historic Market Size – End-user Segment 2017 – 2021 ($ billion)4.4 Geography Segment Analysis 2017 – 2021 Exhibit 21: Historic Market Size – Geography Segment 2017 – 2021 ($ billion)4.5 Country Segment Analysis 2017 – 2021 Exhibit 22: Historic Market Size – Country Segment 2017 – 2021 ($ billion)

5 Five Forces Analysis

5.1 Five forces summaryExhibit 23: Five forces analysis – Comparison between 2022 and 20275.2 Bargaining power of buyers Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 20275.3 Bargaining power of suppliers Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 20275.4 Threat of new entrants Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 20275.5 Threat of substitutes Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 20275.6 Threat of rivalryExhibit 28: Threat of rivalry – Impact of key factors in 2022 and 20275.7 Market conditionExhibit 29: Chart on Market condition – Five forces 2022 and 2027

6 Market Segmentation by Component

6.1 Market segmentsExhibit 30: Chart on Component – Market share 2022-2027 (%)Exhibit 31: Data Table on Component – Market share 2022-2027 (%)6.2 Comparison by Component Exhibit 32: Chart on Comparison by ComponentExhibit 33: Data Table on Comparison by Component6.3 Software – Market size and forecast 2022-2027 Exhibit 34: Chart on Software – Market size and forecast 2022-2027 ($ billion)Exhibit 35: Data Table on Software – Market size and forecast 2022-2027 ($ billion)Exhibit 36: Chart on Software – Year-over-year growth 2022-2027 (%)Exhibit 37: Data Table on Software – Year-over-year growth 2022-2027 (%)6.4 Hardware – Market size and forecast 2022-2027 Exhibit 38: Chart on Hardware – Market size and forecast 2022-2027 ($ billion)Exhibit 39: Data Table on Hardware – Market size and forecast 2022-2027 ($ billion)Exhibit 40: Chart on Hardware – Year-over-year growth 2022-2027 (%)Exhibit 41: Data Table on Hardware – Year-over-year growth 2022-2027 (%)6.5 Services – Market size and forecast 2022-2027 Exhibit 42: Chart on Services – Market size and forecast 2022-2027 ($ billion)Exhibit 43: Data Table on Services – Market size and forecast 2022-2027 ($ billion)Exhibit 44: Chart on Services – Year-over-year growth 2022-2027 (%)Exhibit 45: Data Table on Services – Year-over-year growth 2022-2027 (%)6.6 Market opportunity by Component Exhibit 46: Market opportunity by Component ($ billion)

7 Market Segmentation by End-user

7.1 Market segmentsExhibit 47: Chart on End-user – Market share 2022-2027 (%)Exhibit 48: Data Table on End-user – Market share 2022-2027 (%)7.2 Comparison by End-user Exhibit 49: Chart on Comparison by End-userExhibit 50: Data Table on Comparison by End-user7.3 Retail – Market size and forecast 2022-2027 Exhibit 51: Chart on Retail – Market size and forecast 2022-2027 ($ billion)Exhibit 52: Data Table on Retail – Market size and forecast 2022-2027 ($ billion)Exhibit 53: Chart on Retail – Year-over-year growth 2022-2027 (%)Exhibit 54: Data Table on Retail – Year-over-year growth 2022-2027 (%)7.4 Banking – Market size and forecast 2022-2027 Exhibit 55: Chart on Banking – Market size and forecast 2022-2027 ($ billion)Exhibit 56: Data Table on Banking – Market size and forecast 2022-2027 ($ billion)Exhibit 57: Chart on Banking – Year-over-year growth 2022-2027 (%)Exhibit 58: Data Table on Banking – Year-over-year growth 2022-2027 (%)7.5 Manufacturing – Market size and forecast 2022-2027 Exhibit 59: Chart on Manufacturing – Market size and forecast 2022-2027 ($ billion)Exhibit 60: Data Table on Manufacturing – Market size and forecast 2022-2027 ($ billion)Exhibit 61: Chart on Manufacturing – Year-over-year growth 2022-2027 (%)Exhibit 62: Data Table on Manufacturing – Year-over-year growth 2022-2027 (%)7.6 Healthcare – Market size and forecast 2022-2027 Exhibit 63: Chart on Healthcare – Market size and forecast 2022-2027 ($ billion)Exhibit 64: Data Table on Healthcare – Market size and forecast 2022-2027 ($ billion)Exhibit 65: Chart on Healthcare – Year-over-year growth 2022-2027 (%)Exhibit 66: Data Table on Healthcare – Year-over-year growth 2022-2027 (%)7.7 Others – Market size and forecast 2022-2027 Exhibit 67: Chart on Others – Market size and forecast 2022-2027 ($ billion)Exhibit 68: Data Table on Others – Market size and forecast 2022-2027 ($ billion)Exhibit 69: Chart on Others – Year-over-year growth 2022-2027 (%)Exhibit 70: Data Table on Others – Year-over-year growth 2022-2027 (%)7.8 Market opportunity by End-user Exhibit 71: Market opportunity by End-user ($ billion)

8 Customer Landscape

8.1 Customer landscape overview Exhibit 72: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

9.1 Geographic segmentation Exhibit 73: Chart on Market share by geography 2022-2027 (%)Exhibit 74: Data Table on Market share by geography 2022-2027 (%)9.2 Geographic comparison Exhibit 75: Chart on Geographic comparisonExhibit 76: Data Table on Geographic comparison9.3 North America – Market size and forecast 2022-2027 Exhibit 77: Chart on North America – Market size and forecast 2022-2027 ($ billion)Exhibit 78: Data Table on North America – Market size and forecast 2022-2027 ($ billion)Exhibit 79: Chart on North America – Year-over-year growth 2022-2027 (%)Exhibit 80: Data Table on North America – Year-over-year growth 2022-2027 (%)9.4 Europe – Market size and forecast 2022-2027 Exhibit 81: Chart on Europe – Market size and forecast 2022-2027 ($ billion)Exhibit 82: Data Table on Europe – Market size and forecast 2022-2027 ($ billion)Exhibit 83: Chart on Europe – Year-over-year growth 2022-2027 (%)Exhibit 84: Data Table on Europe – Year-over-year growth 2022-2027 (%)9.5 APAC – Market size and forecast 2022-2027 Exhibit 85: Chart on APAC – Market size and forecast 2022-2027 ($ billion)Exhibit 86: Data Table on APAC – Market size and forecast 2022-2027 ($ billion)Exhibit 87: Chart on APAC – Year-over-year growth 2022-2027 (%)Exhibit 88: Data Table on APAC – Year-over-year growth 2022-2027 (%)9.6 South America – Market size and forecast 2022-2027 Exhibit 89: Chart on South America – Market size and forecast 2022-2027 ($ billion)Exhibit 90: Data Table on South America – Market size and forecast 2022-2027 ($ billion)Exhibit 91: Chart on South America – Year-over-year growth 2022-2027 (%)Exhibit 92: Data Table on South America – Year-over-year growth 2022-2027 (%)9.7 Middle East and Africa – Market size and forecast 2022-2027 Exhibit 93: Chart on Middle East and Africa – Market size and forecast 2022-2027 ($ billion)Exhibit 94: Data Table on Middle East and Africa – Market size and forecast 2022-2027 ($ billion)Exhibit 95: Chart on Middle East and Africa – Year-over-year growth 2022-2027 (%)Exhibit 96: Data Table on Middle East and Africa – Year-over-year growth 2022-2027 (%)9.8 US – Market size and forecast 2022-2027 Exhibit 97: Chart on US – Market size and forecast 2022-2027 ($ billion)Exhibit 98: Data Table on US – Market size and forecast 2022-2027 ($ billion)Exhibit 99: Chart on US – Year-over-year growth 2022-2027 (%)Exhibit 100: Data Table on US – Year-over-year growth 2022-2027 (%)9.9 China – Market size and forecast 2022-2027 Exhibit 101: Chart on China – Market size and forecast 2022-2027 ($ billion)Exhibit 102: Data Table on China – Market size and forecast 2022-2027 ($ billion)Exhibit 103: Chart on China – Year-over-year growth 2022-2027 (%)Exhibit 104: Data Table on China – Year-over-year growth 2022-2027 (%)9.10 Germany – Market size and forecast 2022-2027 Exhibit 105: Chart on Germany – Market size and forecast 2022-2027 ($ billion)Exhibit 106: Data Table on Germany – Market size and forecast 2022-2027 ($ billion)Exhibit 107: Chart on Germany – Year-over-year growth 2022-2027 (%)Exhibit 108: Data Table on Germany – Year-over-year growth 2022-2027 (%)9.11 UK – Market size and forecast 2022-2027 Exhibit 109: Chart on UK – Market size and forecast 2022-2027 ($ billion)Exhibit 110: Data Table on UK – Market size and forecast 2022-2027 ($ billion)Exhibit 111: Chart on UK – Year-over-year growth 2022-2027 (%)Exhibit 112: Data Table on UK – Year-over-year growth 2022-2027 (%)9.12 France – Market size and forecast 2022-2027 Exhibit 113: Chart on France – Market size and forecast 2022-2027 ($ billion)Exhibit 114: Data Table on France – Market size and forecast 2022-2027 ($ billion)Exhibit 115: Chart on France – Year-over-year growth 2022-2027 (%)Exhibit 116: Data Table on France – Year-over-year growth 2022-2027 (%)9.13 Market opportunity by geography Exhibit 117: Market opportunity by geography ($ billion)

10 Drivers, Challenges, and Trends

10.1 Market drivers10.2 Market challenges10.3 Impact of drivers and challenges Exhibit 118: Impact of drivers and challenges in 2022 and 202710.4 Market trends

11 Vendor Landscape

11.1 Overview11.2 Vendor landscapeExhibit 119: Overview on Criticality of inputs and Factors of differentiation11.3 Landscape disruptionExhibit 120: Overview on factors of disruption11.4 Industry risksExhibit 121: Impact of key risks on business

12 Vendor Analysis

12.1 Vendors coveredExhibit 122: Vendors covered12.2 Market positioning of vendors Exhibit 123: Matrix on vendor position and classification12.3 Advanced Micro Devices Inc. Exhibit 124: Advanced Micro Devices Inc. – OverviewExhibit 125: Advanced Micro Devices Inc. – Business segmentsExhibit 126: Advanced Micro Devices Inc. – Key newsExhibit 127: Advanced Micro Devices Inc. – Key offeringsExhibit 128: Advanced Micro Devices Inc. – Segment focus12.4 Alphabet Inc.Exhibit 129: Alphabet Inc. – OverviewExhibit 130: Alphabet Inc. – Business segmentsExhibit 131: Alphabet Inc. – Key newsExhibit 132: Alphabet Inc. – Key offeringsExhibit 133: Alphabet Inc. – Segment focus12.5 Amazon Web Services Inc. Exhibit 134: Amazon Web Services Inc. – OverviewExhibit 135: Amazon Web Services Inc. – Product / ServiceExhibit 136: Amazon Web Services Inc. – Key newsExhibit 137: Amazon Web Services Inc. – Key offerings12.6 Apple Inc.Exhibit 138: Apple Inc. – OverviewExhibit 139: Apple Inc. – Business segmentsExhibit 140: Apple Inc. – Key newsExhibit 141: Apple Inc. – Key offeringsExhibit 142: Apple Inc. – Segment focus12.7 Argo AI LLCExhibit 143: Argo AI LLC – OverviewExhibit 144: Argo AI LLC – Product / ServiceExhibit 145: Argo AI LLC – Key offerings12.8 Baidu Inc.Exhibit 146: Baidu Inc. – OverviewExhibit 147: Baidu Inc. – Business segmentsExhibit 148: Baidu Inc. – Key offeringsExhibit 149: Baidu Inc. – Segment focus12.9 CognitiveScaleExhibit 150: CognitiveScale – OverviewExhibit 151: CognitiveScale – Product / ServiceExhibit 152: CognitiveScale – Key newsExhibit 153: CognitiveScale – Key offerings12.10 Intel Corp.Exhibit 154: Intel Corp. – OverviewExhibit 155: Intel Corp. – Business segmentsExhibit 156: Intel Corp. – Key newsExhibit 157: Intel Corp. – Key offeringsExhibit 158: Intel Corp. – Segment focus12.11 International Business Machines Corp. Exhibit 159: International Business Machines Corp. – OverviewExhibit 160: International Business Machines Corp. – Business segmentsExhibit 161: International Business Machines Corp. – Key newsExhibit 162: International Business Machines Corp. – Key offeringsExhibit 163: International Business Machines Corp. – Segment focus12.12 Microsoft Corp.Exhibit 164: Microsoft Corp. – OverviewExhibit 165: Microsoft Corp. – Business segmentsExhibit 166: Microsoft Corp. – Key newsExhibit 167: Microsoft Corp. – Key offeringsExhibit 168: Microsoft Corp. – Segment focus12.13 Nuance Communications Inc. Exhibit 169: Nuance Communications Inc. – OverviewExhibit 170: Nuance Communications Inc. – Business segmentsExhibit 171: Nuance Communications Inc. – Key offeringsExhibit 172: Nuance Communications Inc. – Segment focus12.14 NVIDIA Corp.Exhibit 173: NVIDIA Corp. – OverviewExhibit 174: NVIDIA Corp. – Business segmentsExhibit 175: NVIDIA Corp. – Key newsExhibit 176: NVIDIA Corp. – Key offeringsExhibit 177: NVIDIA Corp. – Segment focus12.15 Oracle Corp.Exhibit 178: Oracle Corp. – OverviewExhibit 179: Oracle Corp. – Business segmentsExhibit 180: Oracle Corp. – Key newsExhibit 181: Oracle Corp. – Key offeringsExhibit 182: Oracle Corp. – Segment focus12.16 Tesla Inc.Exhibit 183: Tesla Inc. – OverviewExhibit 184: Tesla Inc. – Business segmentsExhibit 185: Tesla Inc. – Key newsExhibit 186: Tesla Inc. – Key offeringsExhibit 187: Tesla Inc. – Segment focus12.17 Wipro Ltd.Exhibit 188: Wipro Ltd. – OverviewExhibit 189: Wipro Ltd. – Business segmentsExhibit 190: Wipro Ltd. – Key newsExhibit 191: Wipro Ltd. – Key offeringsExhibit 192: Wipro Ltd. – Segment focus

13 Appendix

13.1 Scope of the report13.2 Inclusions and exclusions checklist Exhibit 193: Inclusions checklistExhibit 194: Exclusions checklist13.3 Currency conversion rates for US$ Exhibit 195: Currency conversion rates for US$13.4 Research methodologyExhibit 196: Research methodologyExhibit 197: Validation techniques employed for market sizingExhibit 198: Information sources13.5 List of abbreviations Exhibit 199: List of abbreviations

About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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