Global Artificial Intelligence In Healthcare Market is expected to grow at a CAGR of 41% during the forecast period 2022-2030


Global Artificial intelligence in healthcare market is estimated to growat a CAGR of 41% during the forecast period 2022-2030. The global artificial intelligence in healthcare market is primarily driven by growing investment by the private firms. Moreover, advancements in IT and big data capabilities along with surging healthcare expenditure is fueling the artificial intelligence in healthcare market globally. IT healthcare and capability of big data analytics benefit healthcare organizations by connecting with consumers in a real-time scenario. Organizations uses big data capabilities to refine and measure health status of the patients. According to world economic forum organization, 4.4 zettabyte of digital data was created by the end of 2013 and is expected to boost 44 zettabytes by the end of 2023.  This is expected to fuel the demand of AI platforms in the market.

The software segment is expected to grow at a CAGR of 41.6% during forecast period. The growth in software segment is mainly driven by the rising development initiatives by the companies to offer new and innovative products which helps them to capture large market share. Artificial Intelligence software providers such as Microsoft, Intel, Google, IBM and others are continuously enhancing the capabilities of their respective software and surging usage of smart devices, which is proving to be the major drivers of AI in healthcare software market. The growing initiative by companies to develop new and innovative products is boosting the growth in global AI healthcare software market.

Global artificial intelligence in healthcare market by deep learning technology segment is expected to rise at a CAGR of 42.2% during the forecast period. The key factor responsible for the surging demand of deep learning in healthcare applications is the increasing usage of big data in healthcare industry. The medical research institutions and other academic institutions are using big data analytics for healthcare and medical research. This raw (unprocessed) big data is processed by big data analytics tools and analyzed by data scientists, graduates, statisticians etc. The major application of big data in healthcare is Electronic Health Records (EHR). Every patient has its own digital record which comprises of medical history, allergies, demographics, laboratory test results etc. Furthermore, big data applications in healthcare provides many opportunities to learn latest techniques and methods in healthcare in order to enhance the quality of health care services. Therefore, the increasing usage of big data in healthcare industry is driving the growth of deep learning market.

Browse full report at https://www.atlanticmarketresearch.com/artificial-intelligence-in-healthcare-market

Geographically, the global artificial intelligence in healthcare market has been segmented into North America, Europe, Asia Pacific and Rest of the world (ROW). North America leads the global artificial intelligence in healthcare market by capturing largest market share in terms of revenue of 38% in 2021. Further North America AI in healthcare market is anticipated to grow at highest CAGR of 41.9 % during the forecast period. The dominance of North America is attributed to rising adoption of machine learning in medical sector which has increased the growth in AI in healthcare market in countries such as the U.S. and Canada.

Collaboration and partnership allows companies to enhance the capabilities and effectiveness of business which help them to innovate and develop new products. Product launch allows companies to offer innovative and technically upgraded products to meet the requirement and demand of the consumers. The product launch by companies allows companies to capture large market share by offering innovative and advanced products. The intensity of competitive rivalry in the Artificial Intelligence in healthcare market is expected to remain high over the forecast period. The major companies in the artificial intelligence in healthcare market are Google, Microsoft, Stryker, IBM and Intel these companies combined have a net ~XX% share in the global artificial intelligence in healthcare market. The new companies in the artificial intelligence in healthcare market are incorporating mobile based application and cognitive computing capabilities to support artificial intelligence infrastructure. Themajor companies are engaged in research and development activities to make their services more attractive and cost effective for the consumers. The companies are involved in collaborative research. Companies are trying to compete with each other by providing the same characteristics and similar price or by similar features at competitive prices. Companies are focusing on mergers, new product development and collaborative research and development activities with medical institutes in order to serve the consumer efficiently to sustain in the market and strengthen their respective positions in the global artificial intelligence in healthcare market which is also increasing the competition.

KEY MARKET MOVEMENTS

  • Global Artificial intelligence in healthcare market is estimated to growat a CAGR of 41% during the forecast period 2022-2030.
  • Global Artificial intelligence in healthcare market is estimated to growat a CAGR of 41% during the forecast period 2022-2030.
  • Global artificial intelligence in healthcare market by deep learning technology segment is expected to rise at a CAGR of 42.2% during the forecast period.
  • North America leads the global artificial intelligence in healthcare market by capturing largest market share in terms of revenue of 38% in 2021.
  • North America AI in healthcare market is anticipated to grow at highest CAGR of 41.9 % during the forecast period.
  • The intensity of competitive rivalry in the Artificial Intelligence in healthcare market is expected to remain high over the forecast period.
  • The major companies in the artificial intelligence in healthcare market are Google, Microsoft, Stryker, IBM and Intel these companies combined have a net ~XX% share in the global artificial intelligence in healthcare market.

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