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Time of India
11 hours ago
- Business
- Time of India
India Inc's AI reality check: Why 92% still struggle to scale AI
Only BFSI (71%) and ITES (80%) show signs of AI maturity — but even they face integration and governance and retail sectors have >60% AI experimentation, but governance, ethics, and backend integration stall AI being a boardroom buzzword, only 8% of enterprises have realized business-scale AI value. AI might be the star of corporate town halls and keynote speeches, but behind the curtains of glossy brochures and tech summits lies an inconvenient truth: the vast majority of Indian enterprises are nowhere close to AI maturity. According to the ETCIO Intelligence Report AI Playbook – GPUs, Strategies & Readiness Index 2025, a staggering 92% of organizations remain stuck in pilot or exploratory phases. Only a slim 8% have fully implemented AI initiatives. This discrepancy reveals a telling reality—while boardrooms are bullish about AI's potential, operationalizing it at scale remains an uphill task. For a quarter of surveyed firms, AI remains an abstract concept—a buzzword to explore rather than a tool to deploy. Pilot paralysis: From proof of concept to proof of value What's keeping India Inc from achieving AI lift-off? At the heart of the issue lies an ROI dilemma. AI pilots, often built around automation or chatbots, fail to deliver tangible business impact. 'Boards demand measurable business value,' the report notes, 'but most AI efforts focus on narrow use cases with limited bottom-line value.' In response, many CIOs are shifting their KPIs from 'proof of concept' to 'proof of value,' with a sharper focus on metrics like Return on Employee (RoE). 'AI has moved beyond proof of concept - it's now about proof of value. With data at its core, the true success metric is ROE: Return on Employee, where enhanced productivity and smarter efficiency reveals AI's real impact,' says Rakesh Bhardwaj, Group Chief Information Officer, Lupin. The infrastructure conundrum: Legacy systems as a bottleneck India's digital backbone—comprising legacy ERP, SCADA, MES, and siloed data systems—is not AI-ready. In manufacturing, for instance, only 57% of firms report any form of AI adoption. Even among these, most remain confined to pilot projects, thanks to fragmented operational technology and poor data standardization. The BFSI sector leads India's AI journey in terms of adoption maturity. Banks and insurers are embedding AI into fraud detection, underwriting, and customer service. But deeper integration is still constrained by legacy systems and high implementation costs. 'AI adoption in BFSI is not just about improving efficiency. It is redefining resilience, security, compliance and customer experience at scale,' says Sampath Manickam , Chief Technology Officer, National Stock Exchange of India. 'As we integrate AI-driven solutions, the emphasis must remain on ethical innovation, regulatory compliance and long-term value creation.' In retail and consumer goods, the maturity is mixed. While digital-native firms and FMCG giants leverage AI for personalization and supply chain visibility, traditional retailers are still stuck on basic digital transformation journeys. Data privacy and ERP integration issues loom large. In healthcare and pharma, AI use cases are growing—from diagnostics and imaging to drug discovery. However, full-scale adoption is rare, and ethical concerns around bias and explainability are front and center. ITES players show relative maturity. Roughly 60% have implemented AI for customer service automation, IT ops, or HR analytics. But only 8% have embedded AI into core functions. The rest remain tactical, often boxed into non-core deployments due to legacy constraints and unclear ROI. Talent deficit vs tool overload Another major hurdle? – People. Despite the explosion of AI platforms and APIs, there is a severe shortage of skilled professionals—particularly AI engineers, data scientists, and MLOps experts. 'There is a huge shortage of skilled talent because modern education is unable to keep up with the speed of change,' says Priya Dar, CIO, Valvoline Cummins . 'We are not experimenting enough and limitations of industry-specific tools lead to customizations that need skills, time, and money. What we are doing is simple—upskilling, leaning on open source, and outsourcing some innovation to smaller partners working on specific use cases.' Organizations are responding with hybrid strategies: reskilling programs, partnerships with academic institutions, and tapping global talent pools via remote work. 'Our leadership emphasizes innovation, operational excellence, and customer-centricity as core pillars of our growth strategy,' adds Kavita Bijlani, Head of IT & RAD, Bausch + Lomb. 'We are up-skilling and re-skilling our employees by rolling out training programs on AI/ML through virtual platforms. To overcome local shortages, we are tapping into global and regional talent pools.' Integration complexity: The silent killer Even when talent and tools are available, most AI projects flounder during integration. ETCIO Intelligence survey revealed that poor post-deployment support and a lack of plug-and-play capabilities remain key friction points—particularly in sectors like BFSI and healthcare, where compliance demands are non-negotiable. As Anand Sinha, CIO, Birlasoft, explains: 'Organizations address the shortage by upskilling existing staff, recruiting from diverse backgrounds, and using global remote talent… Automation and low-code AI tools are adopted to reduce reliance on specialists.' Who's Winning and Who's Lagging? A Sectoral Snapshot ITES (80%) and BFSI (71%) lead due to digital maturity and strong risk/compliance needs. Healthcare (70%) is gaining traction in diagnostics and drug discovery, but lags in AI governance. Retail (61%) shines in front-end CX but falters on backend integrations. Manufacturing (57%) struggles with data quality and fragmented tech environments. From projects to platforms: Global lessons for India Inc The report emphasizes that successful AI transformation isn't about isolated pilots—it's about 'platformization'. Giants like JPMorgan (COIN platform) and Siemens (AI-augmented digital twins) show the way. Indian firms must follow suit by institutionalizing AI Centers of Excellence, building explainable AI systems, and investing in scalable data infrastructure. To paraphrase Rucha Nanavati of Mahindra & Mahindra: 'AI has moved from curiosity to boardroom mandate. The challenge now is not in adopting AI—but in delivering on its promise.' The next 24 months represent a defining window. For India Inc., this is the moment to evolve from pilot purgatory to platform-powered performance. The age of AI has begun—now it's time to make it real. The AI Playbook | ET CIO
Economic Times
20 hours ago
- Business
- Economic Times
Indian Banks' earnings growth forecast halved amid economic caution and high deposit costs
Mumbai: The pace of earnings growth could halve at Indian banks, which together make up about a third of the Nifty's weighting, with experts attributing the foreign funds-heavy sector's deceleration in FY26 to a circumspect economy, narrower core profits, muted credit demand, and persistently high deposit costs. ADVERTISEMENT "The banking sector's earnings growth has witnessed successive moderation-from 39.3% in FY23 to 12.8% in FY25," said Nitin Aggarwal, head, BFSI, Motilal Oswal Securities. "In FY26, we estimate earnings growth to moderate to 6.5%, with the first half being more muted. We also estimate FY27 earnings growth to recover to 16.1%." Some analysts have pencilled in aggregate growth at 2%, with policy rates dropping a full percentage point in four months, prompting an immediately lower pricing for a majority of loans tied to the external gauge. Most analysts, however, expect earnings growth in the lending sector to rebound in FY27. "We expect earnings growth for our covered banks to remain subdued at 2% on year in FY26 and improve to 16% on year in FY27," Ankit Bihani, associate, Nomura Financial Advisory and Securities (India), said. "Earnings cuts have been sharper for MFI lenders like Bandhan and IndusInd Bank. FY26-27 EPS cuts for large private banks have been 0-8% and PSU banks 6-10%, led by moderation of NIMs amid the rate cut cycle."The recent deceleration in credit growth and the downgrade in earnings growth is the result of RBI's calibrated actions to rein in unsecured consumer credit which has triggered a slowdown in personal and services credit, which together account for over 70% of the total growth slowdown. Credit growth has dropped sharply from 16% a year ago to under 10% bank credit to NBFCs, down to 3% on year, has driven much of the decline in services credit, a drop in unsecured credit growth has also weighed on the expansion in personal loans. Tight liquidity in the system, due to persistent forex outflows, continued well into March 2025, further constraining banks' lending capacity. ADVERTISEMENT A weakened risk appetite among banks, driven by emerging asset quality concerns in microfinance and credit card book, prompted banks to pull back on credit growth toward the latter half of FY25. "We forecast a rebound to 13% in FY26, around 100 bps ahead of consensus, supported by a favorable base, improving demand from consumers, NBFCs, and the agri segment, and aided by both rate cuts, liquidity surplus, CRR easing and fiscal measures like budget tax cut stimuli," said Pranav Gundlapalle, head of India financials at Bernstein. (You can now subscribe to our ETMarkets WhatsApp channel)
Yahoo
a day ago
- Business
- Yahoo
Artificial Intelligence Market Size Worth USD 3,680.47 Bn By 2034
According to Precedence Research, the global artificial intelligence market size is expected to be worth USD 3,680.47 billion by 2034, increasing from USD 757.58 billion in 2025, surging at a remarkable CAGR of 19.20% between 2025 and 2034. Ottawa, June 19, 2025 (GLOBE NEWSWIRE) -- The global artificial intelligence market size was valued at USD 638.23 billion in 2024 and is forecasted to grow at a double-digit CAGR of 19.20% from 2025 to 2034, reaching USD 3,680.47 billion by 2034. AI's transformative role in enhancing operational efficiency and decision-making is fueling its rapid adoption across core industries. Your Market Advantage Begins Here – Download the Sample Report Instantly @ Artificial Intelligence (AI) Market Key Highlights In terms of revenue, the artificial intelligence (AI) market has been calculated at $757.58 billion in 2025. By 2034, the market is projected to soar to $3,680.47 billion. This growth reflects a notable compound annual growth rate (CAGR) of 19.20% from 2025 to 2034. North America led the global AI market in 2024, capturing over 36.92% of the total market share. Asia Pacific is projected to grow at the fastest growth with a CAGR of 19.8% between 2025 and 2034. Deep learning technology dominated the AI space in 2024, accounting for a 37.4% market share. The services segment emerged as the leading solution category, contributing more than 39.2% in 2024. In terms of end users, the BFSI sector held a significant 17.4% share of the AI market in 2024. Artificial Intelligence Market Revenue Breakdown by Key Segments Global Artificial Intelligence Market Revenue, By Technology, 2022–2024 (USD Billion) Technology 2022 2023 2024 Deep Learning 165.98 196.83 233.69 Machine Learning 122.59 145.43 172.72 NLP 91.33 108.31 128.50 Machine Vision 74.22 87.57 103.33 Global Artificial Intelligence Market Revenue, By Solution, 2022-2024 (USD Billion) Solution 2022 2023 2024 Hardware 109.20 129.66 154.22 Software 168.85 200.24 237.86 Services 176.08 208.23 246.14 Global Artificial Intelligence Market Revenue, By End User, 2022-2024 (USD Billion) End User 2022 2023 2024 Healthcare 64.33 76.35 90.48 BFSI 72.59 86.13 102.26 Law 15.96 19.02 22.67 Retail 43.83 52.13 62.06 Advertising & Media 63.19 74.97 88.96 Automotive & Transportation 45.41 53.84 63.87 Agriculture 29.26 34.78 41.39 Manufacturing 43.44 51.58 61.49 Others 76.11 89.34 105.04 Make Smarter Decisions Faster – Access the Premium Report Instantly @ How is the Artificial Intelligence Market Transforming Globally? The artificial intelligence (AI) market is transforming rapidly due to its rapid entry into all global fields. AI technologies enable machines to perform tasks that typically require human intelligence, such as learning, reasoning, problem-solving, and language understanding. 78% of companies use AI in at least one function as of 2024, up 55% from 2023. Major use of segments like Natural Language Processing (NLP), Machine Learning & Deep Learning, Computer Vision, Robotics & Automation, AI Platforms & Services are contributing to the market growth. Artificial Intelligence (AI) is creating significant opportunities for innovation and economic growth. Organizations investing in AI are seeing enhanced decision-making, improved customer experiences, and operational efficiencies. With ongoing technological advances and broader adoption, AI is expected to become an integral part of every industry shortly. Navigate the Future with Our Complete Market Analysis @ Factors to Know About Artificial Intelligence Market in 2025 According to Deloitte State of AI in Enterprises Edition, 94% of business leaders believe AI improves real-time decision-making. The pwC AI Prediction Report stated that, 63% increase in data accuracy and ~52% reduction in forecasting errors have been measured since the adoption of AI. Gartner predicts that by 2025, 80% of companies will be using AI-powered chatbots for customer service. IBM also reports that AI implementation can reduce customer service operational costs by around 30%, and in some cases, cut labor costs by up to 90%. What are the Key Trends of the Global Artificial Intelligence (AI) Market? Generative AI Going Mainstream: Generative AI is now widely adopted across industries for content creation, code generation, and design automation. AI-First Business Models: Companies are building products and services with AI at the core rather than as an enhancement. Rise of Industry-Specific AI Solutions: Tailored AI models are being developed to meet unique needs in sectors like healthcare, finance, manufacturing, and logistics. AI-as-a-Service (AIaaS) Expansion: Cloud providers are scaling AI offerings, making advanced tools accessible to organizations without in-house expertise. Explainable & Ethical AI: There's growing emphasis on transparency, bias mitigation, and accountability in AI decision-making. Multimodal AI Models: AI systems are increasingly capable of processing and integrating text, images, audio, and video in a unified framework. AI Chip Market Boom: Demand for specialized AI hardware like GPUs, TPUs, and neuromorphic chips is surging to support high-performance workloads. Edge AI and On-Device Intelligence: AI models are running directly on devices (e.g., phones, cameras, IoT), enabling faster processing with enhanced privacy. Workforce Transformation via AI: AI is reshaping job roles, automating tasks, and requiring upskilling across virtually every sector. For questions or customization requests, please reach out to us at sales@ What are the Major Artificial Intelligence Initiatives and Efforts in 2025 in Various Sectors? Sector Initiatives Agriculture In June 2025, the Maharashtra Cabinet approved MahaAgri-AI 2025-29, the agriculture-artificial intelligence policy. The policy is implemented to support digital agriculture initiatives like AgriStack, Maha-Agritech, Mahavedh, CropSAPP, Agmarknet, Digital Farming Schools, and Maha-DBT. Government In June 2025, American Tech giants issued a proposal for a 10-year ban on state regulations of artificial intelligence (AI) models. Electric Vehicles (EV) In April 2025, Intel launched its second-generation AI-powered software-defined vehicle (SDV) system-on-chip (SoC), with features of the first chiplet architecture of the automotive industry. Education In January 2025, Audrey Azoulay, the Director-General of UNESCO, dedicated 24th January as International Education Day 2025. The initiatives are supporting the breakthrough entry of AI in the education field. How is Industrial Adoption Generating Potential Growth of the Artificial Intelligence (AI) market? The Artificial Intelligence (AI) market is witnessing transformative growth in various industries like healthcare, automotives, finance, retail, defense, and education. The healthcare industry has targeted the adoption of AI to enhance patient care, predictive diagnostics, communication between healthcare providers, and to offer personalized treatments. Automotive companies are bringing AI models into their vehicles to provide mobility services and autonomous driving experiences. The banking and finance industry is driving significant emphasis on AI integrations for fraud detection, personalized financial services, and reducing cybersecurity threats. The retail industry is fostering an AI emphasis to enhance supply chain and establish AI-driven marketing. The military and defense industry are increasingly integrating AI in equipment to enhance predictive analytics and decision-making. The educational sector is embracing AI to improve studies and problem-solving abilities. AI Market Scope at a Glance Report Attribute Key Statistics Market Size in 2024 USD 638.23 Billion Market Size in 2025 USD 757.58 Billion Market Size by 2034 USD 3,680.47 Billion CAGR 2024 to 2034 19.20% Base Year 2024 Historic Years 2020 to 2023 Forecast Years 2025 to 2034 Segments Covered Technology, Solution, End Use, and Regions Regions Covered North America, Asia Pacific, Europe, Latin America, Middle East and Africa Companies Covered Intel Corporation, Microsoft, IBM, Google, Amazon Web Services, Baidu, Inc., NVIDIA Corporation, Lifegraph, Sensely, Inc., Enlitic, Inc., AiCure, HyperVerge, Inc., and Arm Limited. Set up a meeting at your convenience to get more insights instantly! How North America Dominated the Global Artificial Intelligence (AI) Market in 2024? North America dominated the global market, driven by a combination of technological leadership, corporate investment, talent availability, and policy direction. North America have the big tech & AI gents, like OpenAI (ChatGPT, GPT-4), Google/Alphabet (Gemini, DeepMind), Microsoft (Copilot, Azure AI), Amazon (AWS AI, Alexa), Meta (Llama models, social media AI), and NVIDIA (AI chips and training platforms). U.S. & Canada Artificial Intelligence Market Trends: The U.S. is a major player in the regional market due to countries' Massive Investment & Venture Capital for AI. U.S. has the Top Talent & Research Institutions, robust cloud computing infrastructure, massive AI adoption across industries, and government support. How Big is the U.S. Artificial Intelligence Market? According to Precedence Research, the U.S. artificial intelligence market size is projected to reach USD 851.46 billion by 2034, increasing from USD 146.09 billion in 2024. The market is poised to grow at a solid CAGR of 19.33% from 2025 to 2034. Canada is the second-largest country, leading the regional market due to its wide recognition as a global leader in AI research, innovation, and ethical development. Canada's role is influential and strategic, especially in shaping the foundations and future direction of artificial intelligence. What are the Key Trends of the Asia Pacific Artificial Intelligence (AI) Market? Asia Pacific is the second-largest region in the global market, as it is rapidly becoming a global force in AI due to its scale, speed of adoption, government investment, and growing innovation ecosystems. The Government of Asia is promoting digitalization and fostering potential opportunities for AI. Additionally, government initiatives like Industry 4.0 and AI robotics for defense sectors are fostering market growth. Also Read: Industrial Robotics Market Outlook Highlighting Innovation and Adoption China & India Artificial Intelligence Market Trends: China is leading the regional market due to massive government initiatives in AI infrastructure developments and rising adoption of AI in surveillance & smart infrastructure. The presence of major companies like Baidu, Alibaba, Tencent, and Huawei is contributing to the market growth. India is the fastest-growing country in the regional market, driven by the robust entry of AI in startups & talent sector, governance & public services, and high consumer electronics use. Government initiatives like National AI Strategy: 'AI for All' and Digital India and IndiaAI Mission to scale public sector AI, shaping the Indian market. In April 2025, the Data Science and AIML department of R.C. Patel Institute of Technology, Shirpur, inaugurated their "Year of Artificial Intelligence. The initiative was launched with a grand celebration on campus, as part of a larger effort to promote AI literacy and application in educational institutions, and conducted by the college's director, Dr. J.B. Patil. Also Read: Rising Demand in the Artificial Intelligence Software Market What is the Position of Europe in the Global Artificial Intelligence (AI) Market? Europe is expected to witness significant growth over the forecast period, with region's several countries in the region emerging as leaders in the AI market, each excelling in different aspects such as regulation, research, innovation, and ethical AI deployment. While Europe may not dominate in terms of raw commercial output like the U.S. or China, it leads in responsible AI governance, foundational research, and niche AI applications. Germany is leading the regional market due to strong industrial strengths like AI in Industry 4.0, robotics, and automotive, and countries' strong focus on AI for engineering, logistics, and smart factories. Germany and NVIDIA are planning to build the most ambitious European tech project of the decade: the continent's first industrial AI cloud. In June 2025, NVIDIA partnered with Deutsche Telekom to transform European technological sovereignty. (Source: How is Latin America Shaping its Artificial Intelligence (AI) Market? Latin America is rapidly emerging as a regional innovator with growing adoption, local startup ecosystems, and strong government interest. The region is leveraging AI to address practical challenges in healthcare, agriculture, public safety, and financial inclusion. Countries like Brazil, Chile, and Colombia are playing a significant role in establishing an AI powerhouse. Under the project, steered by Chile's state-run National Center for Artificial Intelligence (CENIA) alongside over 30 regional institutions, multiple Latin American countries are collaborating to launch the Latam-GPT in September 2025. This will be the first large artificial intelligence language model trained to understand the region's diverse cultures and linguistic nuances. (Source: How is the Middle East and Africa's Artificial Intelligence (AI) Market Growing? The Middle East and Africa (MEA) AI market is experiencing rapid growth, driven by increasing digital transformation, government initiatives, investments in smart infrastructure, and the need for AI solutions across industries like healthcare, finance, oil & gas, and government services. Although still emerging compared to North America, Europe, or Asia-Pacific, MEA is becoming a vital AI growth region with unique opportunities and challenges. What are the Major Challenges for the Artificial Intelligence (AI) Market? Lack of Explainability: There are many powerful AI models that have been available in the market, requiring a sophisticated explanation for each different model. Data privacy and Security: AI is reliant on massive databases, which pose a risk to data privacy and security. Infrastructure Limitations: Many industries lack AI-ready infrastructure, which hampers the adoption of the latest and next-generation AI models. By Technology Analysis How Deep Learning Segment Dominates the Artificial Intelligence (AI) Market? The deep learning segment dominated the market due to factors like its Massive Data Availability, Computational Power, Improved Algorithms, and Wide Applications. Deep learning is widely being used in applications like Computer Vision, Natural Language Processing (NLP), Speech Recognition, and Recommendation Systems. Also Read: Rising Adoption Trends in the Speech Analytics Market How Machine Learning Segments the Artificial Intelligence (AI) Market? The machine learning segment is the second-largest segment, leading the market, as to forms the core engine behind most AI applications in use today. It enables systems to learn from data, identify patterns, and make decisions without being explicitly programmed for every scenario. Machine learning models include Supervised Learning, Unsupervised Learning, Reinforcement Learning, and Deep Learning are highly used models. What is the Position of the Natural Language Processing Segment in the Artificial Intelligence (AI) Market? The Natural Language Processing (NLP) segment is one of the most dynamic and fastest-growing segments in the Artificial Intelligence (AI) market. Its dominance is fueled by the explosion of unstructured text and speech data, advancements in large language models (LLMs), and its widespread use in consumer and enterprise applications. What is the Position of the Context-Aware Computing Segment in the Artificial Intelligence (AI) Market? The context-aware computing segment is gaining significant growth in the market, driven by its increased use for enabling systems to deliver more intelligent, personalized, and adaptive experiences based on real-time environmental, user, and situational data. The segment can provide personalized scale, smart assistants and devices, and edge AI and IoT Synergy. What is the Position of the Computer Vision Segment in the Artificial Intelligence (AI) Market? The computer vision segment is expected to grow fastest over the forecast period, due to its rising adoption in applications like image classification, motion tracking, facial recognition, and object detection and recognition. Computer vision empowers machines to see, interpret, and act on visual data, and is rapidly expanding across industries due to advances in deep learning, increased use of cameras and sensors, and demand for real-time visual intelligence. Also Read: How AI is Revolutionizing the Computer Vision Landscape By Solution Analysis How Services Segment Dominates the Artificial Intelligence (AI) Market? The services segment is a dominant segment of the Artificial Intelligence (AI) market, enabling organizations to successfully adopt, implement, and scale AI solutions across diverse industries. As AI becomes more complex and widespread, demand for expert services, ranging from consulting to system integration and support, is rapidly increasing. What is the Position of Software Segment in the Artificial Intelligence (AI) Market? The software segment is the fastest-growing segment of the Artificial Intelligence (AI) market, acting as the core engine behind how AI solutions are created, trained, deployed, and scaled. AI software powers everything from machine learning platforms to intelligent applications, enabling organizations across industries to integrate AI into their operations and products. What is the Position of Hardware Segment in the Artificial Intelligence (AI) Market? The hardware segment is expected to grow significantly over the forecast period, driven by its providing the computational infrastructure required to power complex AI models, especially in deep learning, computer vision, generative AI, and edge AI applications. Infrastructure investment is following suit, major tech players like Microsoft, Google, and Meta significantly increased AI capital expenditures from $139 B in 2024 to $215 B in 2025. By End-use Analysis How BFSI Segment Dominates the Artificial Intelligence (AI) Market? The BFSI sector (Banking, Financial Services, and Insurance) is one of the leading and dominant segments in the Artificial Intelligence (AI) market. As a data-intensive industry, BFSI leverages AI to enhance efficiency, security, customer experience, and decision-making, making it one of the earliest and most aggressive adopters of AI technologies. How is the Healthcare Segment Leading the Artificial Intelligence (AI) Market? The Healthcare segment is one of the most transformative and rapidly growing sectors in the Artificial Intelligence (AI) market. AI is revolutionizing healthcare by improving diagnostics, patient care, drug discovery, and operational efficiency, making it a dominant force within the global AI ecosystem. What is the Significance of of Advertising & Media Segment in the Artificial Intelligence Sector? The Advertising & Media segment is rapidly becoming one of the most influential and dominant sectors within the Artificial Intelligence (AI) market. AI technologies are revolutionizing how brands connect with audiences, optimize campaigns, and create personalized, engaging content, driving substantial growth and innovation in this space. How Law Sector Holds Importance in AI industry? The law segment is increasingly becoming a significant player in the Artificial Intelligence (AI) market, driving innovation and efficiency in legal services. While it may not be the largest segment compared to industries like BFSI or healthcare, AI adoption in law is rapidly growing and transforming how legal professionals work, making it a rising force within the AI ecosystem. What is the Position of Retail & Automotive Segments in the Artificial Intelligence (AI) Market? The retail segment is one of the fastest-growing and most dynamic sectors dominating the Artificial Intelligence (AI) market. AI is transforming retail by enhancing customer experiences, optimizing supply chains, personalizing marketing, and streamlining operations, making it a major driver of AI adoption globally. The automotive & transportation segment is a key driver and dominant force in the Artificial Intelligence (AI) market, revolutionizing how vehicles operate, how goods and people move, and enhancing safety and efficiency across the entire transportation ecosystem. What to Expect from Agriculture & Manufacturing Sectors for Artificial Intelligence Market till 2040? The agriculture segment is rapidly emerging as a significant player in the Artificial Intelligence (AI) market by transforming traditional farming practices through automation, precision, and data-driven insights. While it may not yet dominate the AI market as extensively as sectors like healthcare or automotive, agriculture's AI adoption is growing swiftly, making it a crucial and expanding segment. The manufacturing segment is experiencing significant growth in the Artificial Intelligence (AI) market. AI technologies are reshaping manufacturing by enhancing productivity, quality, and flexibility across the entire production lifecycle, making it a powerhouse for AI adoption. Related Topics You May Find Useful: Artificial Intelligence As A Service Market: The global artificial intelligence as a service market size is estimated at USD 11.96 billion in 2024 and is anticipated to reach around USD 294.83 billion by 2034, expanding at a CAGR of 37.78% from 2024 to 2034. Artificial Intelligence in E-commerce Market: The global artificial intelligence in e-commerce market size is estimated at USD 7.25 billion in 2024 and is anticipated to reach around USD 64.03 billion by 2034, expanding at a CAGR of 24.34% from 2024 to 2034. Artificial Intelligence Robots Market: The global artificial intelligence robots market size is worth around USD 17.09 billion in 2024 and is anticipated to reach around USD 124.26 billion by 2034, growing at a CAGR of 21.9% over the forecast period 2024 to 2034. Artificial Intelligence Software Market: The global artificial intelligence (AI) software market size accounted for USD 209.29 billion in 2024 and is anticipated to reach around USD 1458.89 billion by 2034, growing at a CAGR of 21.43% from 2025 to 2034. Artificial Intelligence In Retail Market: The global artificial intelligence (AI) in retail market size was accounted for USD 11.83 billion in 2024, and is expected to reach around USD 62.64 billion by 2034, expanding at a CAGR of 18.14% from 2025 to 2034. Artificial Intelligence In Cybersecurity Market: The global artificial intelligence (AI) in cybersecurity market size is estimated at USD 24.82 billion in 2024 and is anticipated to reach around USD 146.52 billion by 2034, expanding at a CAGR of 19.43% between 2024 and 2034. Artificial Intelligence Chip Market: The global artificial intelligence chip market size is estimated at USD 73.27 billion in 2024 and is anticipated to reach around USD 927.76 billion by 2034, expanding at a CAGR of 28.90% from 2024 to 2034. Artificial Intelligence in Aviation Market: The global artificial intelligence in aviation market size was estimated at USD 5.19 million in 2024 and is anticipated to reach around USD 20.63 million by 2034, expanding at a CAGR of 14.80% from 2025 to 2034. Key Market Company List and Their Innovations: Google: Offered applications like Gemini, Google Cloud AI, and DeepMind. Microsoft: Copilot, Azure AI Services, OpenAI Partnership, GitHub Copilot. OpenAI: ChatGPT, GPT models (GPT-4, GPT-4o), DALL·E, Whisper, and Enterprise integrations Amazon: Amazon Web Services (AWS AI), Alexa AI, AI in Logistics & Retail. Meta: Llama Models, AI in social media, Meta AI agents, and Emu & Imagine. IBM: WatsonX, AI for healthcare, finance, and law, Hybrid Cloud + AI strategy: NVIDIA: GPU & AI Hardware, NVIDIA AI Enterprise, Omniverse & Isaac Apple: On-device AI, Apple Intelligence (2024) Tesla: Autopilot & FSD, Dojo Supercomputer, and Robotics. Baidu: Ernie Bot, Apollo AI, and AI Cloud & Language Services Recent Developments In June 2025, Hugging Face added Groq to its AI model inference providers to enhance speed and efficiency. The Groq is a chip designed for launch models to handle unique computational patterns of launch models. (Source: In June 2025, the Department of Electronics, IT, and Biotechnology, Karnataka government, introduced a study to assess the AI impact on states' workforces, to inform the upcoming IT policy 2025 and government initiatives, NIPUNA Karnataka. (Source: The artificial intelligence market report is categorized into the following segments and subsegments: By Solution Hardware Software Services By Technology Machine Learning Deep Learning Natural Language Processing Context-Aware Computing Computer Vision By End-Use Healthcare BFSI Law Retail Advertising & Media Automotive & Transportation Agriculture Manufacturing Others By Region North America Europe Asia-Pacific Latin America The Middle East and Africa Thanks for reading You can also get individual chapter-wise sections or region-wise report versions such as North America, Europe, or Asia Pacific. This Report is Readily Available for Immediate Delivery | Buy This Premium Research Report@ You can place an order or ask any questions, please feel free to contact at sales@ | +1 804 441 9344 Precedence Research offers exclusive subscription services designed to provide in-depth data and analytics insights. With a subscription, you gain access to a comprehensive suite of statistical resources, market intelligence, and research tools tailored to your business needs. Whether you're looking for industry trends, competitive analysis, or future market projections, our subscription plans ensure you stay ahead with reliable, up-to-date information. Browse Our Subscription Plans@ Frequently Asked Questions 1. What is the projected size of the global artificial intelligence market by 2034? The global artificial intelligence (AI) market is projected to reach USD 3,680.47 billion by 2034, rising from USD 757.58 billion in 2025, growing at a CAGR of 19.20% from 2025 to 2034. 2. What was the size of the AI market in 2024? The global AI market was valued at USD 638.23 billion in 2024, showcasing substantial year-over-year growth due to increasing AI integration across industries. 3. Which region dominated the global AI market in 2024? North America dominated the global AI market in 2024, accounting for over 36.92% of the total market share, driven by strong tech infrastructure, R&D leadership, and major players like Google, Microsoft, OpenAI, and NVIDIA. 4. Which region is expected to grow the fastest in the AI market from 2025 to 2034? Asia Pacific is projected to grow at the fastest rate, registering a CAGR of 19.8% during the forecast period, fueled by rapid digitalization, strong government backing, and vibrant startup ecosystems. 5. What are the leading technologies driving the AI market? Key technologies include: Deep Learning (dominated with 37.4% share in 2024) Machine Learning Natural Language Processing (NLP) Computer Vision Context-Aware Computing 6. Which AI solution segment is dominating the market? The Services segment was the leading solution category in 2024, contributing more than 39.2% to the global market. This includes consulting, system integration, support, and training services. 7. Which end-user industry holds the largest share in the AI market? The BFSI sector (Banking, Financial Services, and Insurance) held a significant 17.4% share of the AI market in 2024, leveraging AI for fraud detection, personalized financial services, and cybersecurity. 8. What is the size of the U.S. AI market expected to be by 2034? The U.S. AI market is projected to reach USD 851.46 billion by 2034, growing from USD 146.09 billion in 2024, at a CAGR of 19.33%. About Us Precedence Research is a worldwide market research and consulting organization. We give an unmatched nature of offering to our customers present all around the globe across industry verticals. Precedence Research has expertise in giving deep-dive market insight along with market intelligence to our customers spread crosswise over various undertakings. We are obliged to serve our different client base present over the enterprises of medicinal services, healthcare, innovation, next-gen technologies, semi-conductors, chemicals, automotive, and aerospace & defense, among different ventures present globally. Web: Our Trusted Data Partners: Towards Healthcare | Towards Packaging | Towards Automotive | Towards Chem and Materials | Towards FnB | Towards Consumer Goods | Statifacts | Towards EV Solutions | Towards Dental | Nova One Advisor Get Recent News: For Latest Update Follow Us: LinkedIn | Facebook | TwitterError in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Time of India
a day ago
- Business
- Time of India
Indo US BTA: A strategic crossroad for services sector of both economies
In 2024, the U.S.-India trade relationship reached $191 billion, underscoring the growing interdependence between the world's largest and fifth-largest economies. At the heart of this relationship lies a deepening trade in services, especially in IT and professional services. Yet, as both nations work towards a Bilateral Trade Agreement (BTA), the path forward is strewn with strategic opportunities and emerging policy challenges. Synergies in Digital Services between India and USA by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Thanh Pho Ho Chi Minh: Unsold Furniture Liquidation 2024 (Prices May Surprise You) Unsold Furniture | Search Ads Learn More Undo India's total services exports rose by 13.6% to $387.5 billion in FY 2024-25, out of which, exports to the U.S. reached $33.2 billion; led by IT-enabled services ($20 billion), professional services ($10 billion), and BFSI (banking, financial services, and insurance) exports ($2 billion). Conversely, the U.S. exported $25.9 billion in services to India with a surplus of $102 million, primarily from exports in finance and consulting. The digital services sector in particular reflects a symbiotic relationship between the two countries. India today is the third largest start-up hub and one of the leading countries in global SaaS businesses. There is a deep organic relation between Indian and US tech businesses, with 60% of total investments in Indian start-ups in 2020 coming from US investors. Overall, US investors were part of 75% of the deals, followed by Singapore based investors (15%) and Japanese investors (10%). Moreover, major global US tech businesses like Alphabet and Meta have increased their presence in India, making it their second base (or base for their Asia operations) for much of their product development and marketing activities. Live Events Friction Points: Tariffs, Taxes, and Technological Tensions Unfortunately, it has not been smooth sailing for the BTA as2025 has brought fresh headwinds. In April, the U.S. introduced a reciprocal 26% tariff aimed at select sectors—primarily tech and electronics. India's recent decision to remove its 6% equalization levy (digital services tax) was seen as a conciliatory gesture in support of the BTA process, but teething problems still remain. For instance, fundamental differences in data protection frameworks—India's more state-centered model vs. the U.S.' consumer and market-driven approach— are bilateral e-commerce trade reached $15 billion in 2024, but DPDPA compliance costs $500 million yearly for IT exporters. Alignment could boost trade by 15% ($2.25 billion) by 2030. Visa policy is another sore point. Current visa caps cost $800 million in losses and BFSI exports face U.S. regulatory barriers. A WTO study suggests negotiating a 20% increase in H-1B visa quotas could grow India's $10 billion Mode 4 exports by $5 billion, while reciprocal BFSI market access could triple India's $2 billion BFSI exports by 2030. Addressing the dragon in the room Much of these hurdles exist because historically India and USA have often perceived each other as competitors in digital technology and services. However, the BTA finds utility when both countries face a bigger challenge in the form of China. The National Strategy for Critical and Emerging Technologies (2020) by USA recognises China as a major threat in the field of technology. The US is actively seeking to de-couple from China on all fronts; from manufacturing to new technologies. Much of the initial phase of the Indian tech start-up ecosystem was developed by investments from Chinese sources such as Alibaba, Tencent or Didi Chuxing. However, over time there has been a conscious shift by the Indian Government to decouple from Chinese influence which also involved banning certain Chinese service providers. Chinese technology firms are aggressively expanding into Latin America and Africa, offering bundled solutions, low-cost hardware, and subsidized services. China is also fast emerging as a major tech innovator in the new-age technologies such as AI. These developments threaten business interests of both India and USA. India and USA signed a critical treaty under the previous US Administration in the form of United States–India Initiative on Critical and Emerging Technologies (iCET), that sought to leverage complementarities between the two countries in the fields of AI, quantum computing, semiconductors and wireless telecommunications. This initiative, which is critical for both countries to counter the Chinese developments, now needs to be fostered by a BTA that helps realise the stated objectives. Fresh Perspective for the BTA: from competitors to allies The Indo US BTA between the global leaders in the services is no more about turf war between competitors. It is now more about geofencing out the competition from China. Businesses are presently more allied to the idea (as is evident from the degrees of integration); the authorities need to foster it.
Yahoo
2 days ago
- Business
- Yahoo
Loyalty Management Market worth $20.36 billion by 2030- Exclusive Report by MarketsandMarkets™
DELRAY BEACH, Fla., June 18, 2025 /PRNewswire/ -- The Loyalty Management Market is estimated at USD 12.89 billion in 2025 and is projected to reach USD 20.36 billion by 2030, registering a CAGR of 9.6% during 2025–2030, according to a new report by MarketsandMarkets™. Browse in-depth TOC on "Loyalty Management Market" 350 – Tables 50 - Figures320 – Pages Download PDF Brochure @ Scope of the Report Report Metrics Details Market size available for years 2019–2030 Base year considered 2024 Forecast period 2025–2030 Forecast units Value (USD) Billion Segments Covered By Offering, Program Type, Application, Business Model, Vertical, and Region Region covered North America, Europe, Asia Pacific, Middle East & Africa, and Latin America Companies covered The major players in the Loyalty Management Market are Epsilon (US), Oracle (US), Comarch (Poland), Bond Brand Loyalty (Canada), Merkle (US), Capillary (Singapore), Jakala (Italy), Kobie (US), Giift Management (Singapore), Maritz Motivation (US), Cheetah Digital (US), Collinson (UK), AIR MILES Loyalty (Canada), Punchh (US), Ebbo (US), Preferred Patron (US), Loopy Loyalty (China), Paystone (UK), LoyLogic (Switzerland), Ascenda (Singapore), Loyalty Juggernaut (US), Gratifii (Australia), SAP SE (Germany), Annex Cloud (US), Apex Loyalty (US), Sumup (UK), Kangaroo (Canada), (Canada), SessionM (US), LoyaltyLion (UK), Yotpo (US), SailPlay (US), Phaedon (US), and Zinrelo (US). Rising competition in sectors like retail, hospitality, and BFSI compels companies to implement loyalty programs that help them stand out by offering personalized rewards and experiences to enhance customer loyalty. In retail, brands such as Amazon and Walmart utilize loyalty initiatives to drive repeat purchases through tailored discounts and exclusive product access. Likewise, in hospitality, chains like Marriott and Hilton leverage loyalty programs to deliver personalized experiences, including room upgrades or late check-outs, thus building stronger emotional connections with guests. In the BFSI sector, banks and financial institutions, including American Express, offer rewards programs linked to credit card usage, providing cashback or travel perks to boost customer allegiance. By providing customized rewards and memorable experiences, these programs enable businesses to differentiate themselves, helping them retain customers in fiercely competitive markets where consumers have countless options, ultimately promoting long-term loyalty and profitability. Request Sample Pages@ BFSI vertical segment is expected to have the largest market size during the forecast period. BFSI organizations have long acknowledged the value of loyalty programs in retaining high-value customers, cross-selling products, and minimizing churn. The primary role of loyalty in BFSI is to foster trust and long-term relationships through personalized rewards, exclusive offers, and seamless integration with financial products. The sector is propelled by early adoption, significant investment in technology, and the high lifetime value of financial customers. Credit card rewards, banking loyalty programs, and insurance incentives are deeply integrated into customer engagement strategies, bolstered by robust data analytics and personalization capabilities. The professional services segment is expected to have the largest market size during the forecast period. Professional services encompass consulting, implementation, and ongoing support. These services are vital for brands aiming to design, launch, and optimize advanced loyalty programs tailored to their unique needs. The purpose of professional services is to bridge the gap between technology and business objectives, ensuring that loyalty solutions are seamlessly integrated with current systems and aligned with broader customer experience strategies. The rapid growth of this segment is driven by the increasing complexity of loyalty technology, the need for specialized expertise in AI and personalization, and the demand for continuous program optimization. As brands work to differentiate themselves and maximize ROI, professional services are becoming essential partners in the loyalty ecosystem. Inquire Before Buying@ Asia Pacific to register fastest growth rate during forecast period The Loyalty Management Market in Asia Pacific is experiencing rapid growth, driven by the region's high digital adoption and mobile-first consumer base. Countries such as India, China, and Singapore are at the forefront, where smartphone penetration exceeds 80%, enabling brands to seamlessly deploy mobile-based loyalty programs. For instance, platforms like Capillary Technologies cater to regional giants such as Unilever, offering affordable, AI-driven solutions that personalize customer experiences. The rise of e-commerce, with platforms like Shopee and Lazada integrating loyalty features, further fuels market expansion. Additionally, cultural preferences for gamification and instant rewards resonate strongly, as demonstrated in programs offering digital badges or cashback. Government initiatives promoting digital payments, such as India's UPI, enhance the adoption of loyalty programs linked to transactions. Asia Pacific's tech-savvy population positions it as a high-growth market for loyalty management solutions. Top Key Companies in Loyalty Management Market: The report profiles key players, such as Epsilon (US), Oracle (US), Comarch (Poland), Bond Brand Loyalty (Canada), Merkle (US), Capillary (Singapore), AIR MILES Loyalty (Canada), Ebbo (US), Annex Cloud (US), Apex Loyalty (US). Browse Adjacent Markets: Software and Services Market Research Reports & Consulting Related Reports: Smart Warehousing Market - Global Forecast to 2030 Application Lifecycle Management Market - Global Forecast to 2029 MarTech Market- Global Forecast to 2030 Simulation Software Market- Global Forecast to 2030 Application Modernization Services Market- Global Forecast to 2029 Get access to the latest updates on Loyalty Management Companies and Loyalty Management Industry About MarketsandMarkets™ MarketsandMarkets™ has been recognized as one of America's Best Management Consulting Firms by Forbes, as per their recent report. MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. With the widest lens on emerging technologies, we are proficient in co-creating supernormal growth for clients across the globe. Today, 80% of Fortune 2000 companies rely on MarketsandMarkets, and 90 of the top 100 companies in each sector trust us to accelerate their revenue growth. With a global clientele of over 13,000 organizations, we help businesses thrive in a disruptive ecosystem. The B2B economy is witnessing the emergence of $25 trillion in new revenue streams that are replacing existing ones within this decade. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing. Built on the 'GIVE Growth' principle, we collaborate with several Forbes Global 2000 B2B companies to keep them future-ready. Our insights and strategies are powered by industry experts, cutting-edge AI, and our Market Intelligence Cloud, KnowledgeStore™, which integrates research and provides ecosystem-wide visibility into revenue shifts. 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