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Artificial Intelligence (AI) Market to Grow by USD 237.4 Billion from 2024-2028, Driven by Fraud Prevention and Malicious Attack Mitigation, Report on AI’s Market Transformation – Technavio

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NEW YORK, Feb. 3, 2025 /PRNewswire/ — Report with the AI impact on market trends – The global artificial intelligence (ai) market size is estimated to grow by USD 237.4 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  30.07%  during the forecast period. Prevention of fraud and malicious attacks is driving market growth, with a trend towards increase in cloud-based ai services  However, shortage of ai experts  poses a challenge.Key market players include .Advanced Micro Devices, AiCure, Arm Limited, Atomwise, Inc., Ayasdi AI LLC, Baidu, Inc., Clarifai, Inc., Cyrcadia Health, Enlitic, Inc., Google LLC, H2O.ai, HyperVerge, Inc., International Business Machines Corporation, IBM Watson Health, Intel Corporation, Iris.ai AS, Lifegraph, Microsoft, NVIDIA Corporation, Sensely, Inc.

Key insights into market evolution with AI-powered analysis. Explore trends, segmentation, and growth drivers- View Free Sample PDF

Artificial Intelligence (Ai) Market Scope

Report Coverage

Details

Base year

2023

Historic period

2018 – 2022

Forecast period

2024-2028

Growth momentum & CAGR

Accelerate at a CAGR of 30.07%

Market growth 2024-2028

USD 237.4 billion

Market structure

Fragmented

YoY growth 2022-2023 (%)

23.17

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

Key companies profiled

Advanced Micro Devices, AiCure, Arm Limited, Atomwise, Inc., Ayasdi AI LLC, Baidu, Inc., Clarifai, Inc., Cyrcadia Health, Enlitic, Inc., Google LLC, H2O.ai, HyperVerge, Inc., International Business Machines Corporation, IBM Watson Health, Intel Corporation, Iris.ai AS, Lifegraph, Microsoft, NVIDIA Corporation, Sensely, Inc.

Market Driver

Artificial Intelligence (AI) is revolutionizing businesses with trends like deep learning, data analytics, and data science. Deep learning techniques and machine learning algorithms are driving advancements in areas such as computer vision, natural language processing, and cognitive solutions. Cloud computing and edge computing are enabling the deployment of AI in various industries. Healthcare, banking, e-commerce, and IT and telecommunication are major sectors adopting AI for customer experiences, fraud prevention, and workflow management. Ethical and regulatory concerns, privacy issues, and bias in algorithms are key challenges. Skilled AI professionals are in high demand for automation, robotics, chatbots, and virtual assistants. Next-generation tech fields like generative AI, edge AI, and IoT are transforming industries. SaaS, tech giants, and open-source AI platforms are leading the market. AI is being used in retail, agriculture, media, finance, cybersecurity, legal compliance, and more. Pretrained models, customizable AI, and AI marketplaces are enabling businesses to adopt AI easily. Biopharmaceutical companies, financial firms, and operation teams are leveraging AI for trend forecasting, workflow management, and preliminary diagnosis. AI is also being used in marketing, advertising, robot-assisted surgery, and hospital workflow management. 

Artificial Intelligence (AI) is revolutionizing business operations by enabling advanced automation and analysis. Companies are integrating AI technology into various applications such as recommendation engines, pricing optimization, lead generation, chatbots, and supply chain optimization. However, implementing AI in on-premises data centers requires substantial computing and data storage capabilities. Developing in-house AI products can be costly, leading many businesses to consider cloud solutions for more efficient and cost-effective implementation. By leveraging AI, companies can gain valuable insights, streamline processes, and enhance customer experiences. 

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 Market Challenges

Artificial Intelligence (AI) market is witnessing significant growth with various industries adopting this technology for different applications. Deep learning, data analytics, and data science are key areas driving the AI market. Software engineering, cognitive solutions, and cloud computing are essential components for building and deploying AI systems. Computer vision, natural language processing, and algorithms are core AI technologies. Challenges include developing intelligence standards, acquiring supercomputers and quantum computers, and addressing ethical concerns, regulatory issues, privacy, bias in algorithms, and job displacement. Industries like healthcare, banking, e-commerce, and IT & telecommunication are major adopters. AI is transforming sectors like retail, agriculture, media, finance, cybersecurity, and legal compliance. Advancements include edge AI, IoT, edge computing, machine learning, generative AI, and conversational AI. Pretrained models, customizable AI, and AI marketplaces are enabling easier access to AI. Biopharmaceutical companies, financial firms, and operation departments are leveraging AI for trend forecasting, fraud prevention, and workflow management. Robotics, chatbots, virtual assistants, and customer service are enhancing customer experiences. Cutting-edge technology from tech giants, SaaS, and next-generation tech fields are shaping the future of AI. Open-source AI platforms, hardware, and software are essential for the growth of the AI market. Data storage, parallel processing, on-premises, marketing, and sales are also impacted by AI.

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Segment Overview 

This artificial intelligence (ai) market report extensively covers market segmentation by  

ComponentSoftwareHardwareServicesEnd-userRetailBankingManufacturingHealthcareOthersGeographyNorth AmericaEuropeAPACSouth AmericaMiddle East And AfricaTechnologyDeep LearningMachine LearningNatural Language Processing (NLP)Machine VisionGenerative AI

1.1 Software-  Artificial Intelligence (AI) market growth is driven by the increasing adoption of AI developer tools among software developers. These tools enable the creation of intelligent applications, enhancing existing ones with machine learning or speech recognition capabilities, or building new ones using AI platforms. Developers utilize algorithms, libraries, frameworks, or developer kits to integrate AI features into software. The use of AI in software development is becoming a standard, improving employee experience and providing efficient, automated solutions for manual jobs. Companies benefit from enhanced decision-making abilities and increased efficiency. Software engineers can create AI-powered solutions for various sectors, including corporates, by leveraging AI software. The reliance on AI software is expected to continue growing, fueling the expansion of the AI market during the forecast period.

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Research Analysis

Artificial Intelligence (AI) is a rapidly growing market that encompasses various technologies and applications. At its core, AI involves the development of intelligent machines that can learn from data and make decisions like humans. Key technologies include deep learning, data analytics, data science, software engineering, cognitive solutions, and natural language processing. AI is powered by algorithms, intelligence standards, and advanced computing platforms such as supercomputers and quantum computers. Deep learning techniques and machine learning algorithms are essential for training AI models on large datasets, known as big data. AI is transforming industries like healthcare, where it’s used for automated image diagnostics and disease prediction. Tech Giants are leading the charge in AI, with SaaS offerings and next-generation tech fields like computer vision and natural language processing. Open-source AI platforms, hardware, software, data storage, parallel processing, and on-premises solutions are also crucial components of the AI ecosystem. AI is revolutionizing various sectors, including fraud prevention, autonomous vehicles, and customer service, among others.

Market Research Overview

Artificial Intelligence (AI) is a cutting-edge technology revolutionizing various industries by enabling machines to learn and perform tasks that typically require human intelligence. Deep learning, a subset of machine learning, uses neural networks to analyze data and improve performance. Data analytics, data science, and software engineering are essential components of AI development. Cognitive solutions, including computer vision and natural language processing, enable machines to understand and interpret visual and textual data. Algorithms, intelligence standards, supercomputers, and quantum computers power AI’s advanced capabilities. Deep learning techniques and machine learning algorithms process big data for data analysis in sectors like healthcare, banking, e-commerce, and more. Ethical and regulatory concerns, privacy issues, bias in algorithms, and job displacement are significant challenges. Skilled AI professionals are in high demand for automation, robotics, chatbots, virtual assistants, and customer service support. Edge AI, Internet of Things, and edge computing expand AI’s reach. Machine learning, generative AI, and pretrained models offer customizable solutions. AI marketplaces facilitate access to AI tools and services. Biopharmaceutical companies, private sectors, and various industries leverage AI for fraud prevention, workflow management, trend forecasting, and more. AI’s impact on IT and telecommunication, retail & e-commerce, agriculture, media and entertainment, finance & accounting, cybersecurity, legal and compliance, and operation sectors is transformative.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

ComponentSoftwareHardwareServicesEnd-userRetailBankingManufacturingHealthcareOthersGeographyNorth AmericaEuropeAPACSouth AmericaMiddle East And AfricaTechnologyDeep LearningMachine LearningNatural Language Processing (NLP)Machine VisionGenerative AI

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides 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 across 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.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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SOURCE Technavio

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Ursa Major to Deliver Chemical Propulsion Capability for Tactical Satellite Bus Systems

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DENVER, March 13, 2025 /PRNewswire/ — Ursa Major has been awarded a contract for delivery of fully integrated GEO propulsion systems for a customer focused on critical space missions. The multi-year award totaling $10 to $15 million supports the development, manufacturing, assembly, integration, and testing of a full propulsion system capable of six degree-of-freedom maneuverability.

Building upon successful flights for hypersonic and defense applications in 2024, Ursa Major is leveraging its expertise in scaling manufacturing of propulsion systems to provide unfettered access to space. The recent growth in the satellite industry has demonstrated an increased demand for advanced propulsion systems that provide efficient mobility for maneuverability, collision avoidance, and timely deorbiting. A pillar to responsive space domain is a resilient supply chain that can meet the necessary mission lead times. Ursa Major is responding to this need with an off-the-shelf and scalable manufacturing approach to enable rapid delivery of mission critical capabilities.

“This award demonstrates the engineering rigor in propulsion systems to yield a new generation of highly maneuverable buses at significantly faster lead times than currently fielded systems,” said Ursa Major CEO Dan Jablonsky.

The development and production work of these in-space propulsion systems will take place at Ursa Major’s design, test, and production facility in Berthoud, Colorado and apply advanced digital manufacturing processes alongside vertical integration of key technologies to enable rapid deployment.

About Ursa Major

Ursa Major is an aerospace and defense company, providing products and solutions for hypersonic, tactical missile, and space mobility systems. The company applies state-of-the-art digital and additive manufacturing techniques to rapidly produce the most advanced, cost-effective solutions. Ursa Major has category-leading hypersonic, on-orbit, and solid rocket motor propulsion capabilities. Ursa Major’s customers range from commercial space technology providers to enterprise-level aerospace and defense leaders as well as the U.S. government. The company employs the most sought-after engineers from top aerospace programs and universities, united in the core values of disruptive innovation, flying faster, and providing reliable and cost-effective systems. Headquartered in Berthoud, Colorado, with additive manufacturing facilities in Youngstown, Ohio, Ursa Major was named one of the best places to work by Built in Colorado three years in a row.

For more information, visit www.ursamajor.com

Media Contacts

Ursa Major

media@ursamajor.com

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SOURCE Ursa Major Technologies

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PROPERTY MELD EXPANDS PROPERTY MAINTENANCE OPERATIONS WITH ADDITION OF ZINSPECTOR INTEGRATION

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RAPID CITY, S.D., March 13, 2025 /PRNewswire/ — Property Meld, the leading property maintenance platform for property managers, announces its strategic integration with zInspector, highlighting its commitment to advancing property maintenance operations (PMO). This partnership marks a significant leap in unifying inspections and maintenance, enhancing efficiency while capturing reliable data for smarter maintenance decisions, naturally propelling PMO to the next level.

This partnership fits into Property Meld’s broader plan for ‘Nexus’, its initiative to bring every facet of maintenance operations together. ‘Nexus’ embodies its purpose: a connection point that eliminates inefficiencies, drives data-driven decisions, and redefines property maintenance. From vendor management to property accounting integrations, Property Meld is creating the future of property maintenance through connectivity—and the integration with zInspector’s inspection platform is helping bring that vision to life.

“Everyone knows that the property management industry continues to evolve at top speed, and data is the key to making informed decisions,” says Ray Hespen, CEO and Co-Founder of Property Meld. “With zInspector on board, we’re delivering on our promise to expand the Nexus ecosystem and give property managers the visibility they need to tackle maintenance issues head-on, and ultimately protecting investor returns.”

“At zInspector, we are dedicated to making property inspections as thorough and seamless as possible,” said Andrew Wallace, CEO and Founder of zInspector. “By integrating with Property Meld, we’re enabling property managers to take immediate action on inspection work, ensuring maintenance needs are addressed with speed and precision. This partnership represents a major step forward in how inspections and maintenance work together in the industry.”

This integration goes far beyond simply syncing zInspector’s inspection solution with Property Meld’s maintenance platform. By leveraging the data captured during every inspection, property managers gain deeper insights into their operations, allowing them to optimize workflows, reduce downtime, and ultimately boost profitability.

Additionally, Property Meld and zInspector will co-host a webinar on March 19, providing property managers with insights into how this partnership will optimize overall operational performance and the force behind a strong inspections and maintenance integration. For more details on this integration, visit www.propertymeld.com or www.zinspector.com.

About Property Meld
Property Meld is a property maintenance operations platform designed to enhance efficiency and provide clear oversight through improved data visibility. It significantly reduces repair times while optimizing and documenting communication to create a better experience for all stakeholders. Property Meld offers valuable performance metrics, enabling data-driven decisions to drive growth and profitability. Seamlessly integrating with leading property accounting software, it is an essential tool for modern property management.

About zInspector
zInspector is an industry-leading property inspection platform designed to streamline documentation, enhance transparency, and simplify inspections for property managers and owners. Through its advanced technology, zInspector ensures accurate, data-driven insights that support better property management decisions.

Contact: Madison Zimmerman, Property Meld
Phone: (605) 431-0265
Email: madison@propertymeld.com 

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SOURCE Property Meld

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Skylark Labs Reveals Scout MK I: Next-Generation Privacy-Preserving Public Safety Platform

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NEW YORK, March 13, 2025 /PRNewswire/ — Skylark Labs, a leading provider of AI-powered security and safety solutions, today announced the launch of Scout MK I AI Tower, an advanced mobile surveillance system designed specifically for public safety applications within the United States. This cutting-edge system leverages Skylark Labs’ proprietary Kepler AI platform to deliver unprecedented threat detection capabilities for law enforcement agencies, public event managers, and construction site operators across America.

Following the successful deployment of the Scout MK II for border security operations, Skylark Labs has adapted its revolutionary technology to strengthen security within American communities. As public spaces face increasingly complex safety challenges—from unauthorized access at construction sites to dangerous situations at community events—conventional surveillance systems typically sacrifice either comprehensive coverage or individual privacy. The Scout MK I AI Tower integrates multiple proprietary privacy-preserving sensors with adaptive AI for rapid deployment in any environment where public safety monitoring is needed.

MOBILE MK I MONITORING PLATFORM

The Scout MK I features a compact 20-50 feet telescoping design that deploys in under an hour and operates for 72+ hours on integrated solar power, eliminating the need for fixed infrastructure or external power sources. The system integrates proprietary privacy-preserving spatial mapping technology, multi-spectrum imaging, advanced radar, and AI-powered audio analysis into a rapidly deployable tower. The system’s onboard Kepler AI can detect weapons, unauthorized access, violence, crowd formations, and destructive activities in real-time. The audio analysis system identifies critical sounds including gunshots, breaking glass, and distress calls. The system can be fully operational within 60 minutes at construction sites, public events, critical infrastructure, or remote locations without existing security infrastructure.

PROPRIETARY PRIVACY-PRESERVING MULTI-SENSOR APPROACH

The Scout MK I’s privacy-preserving design creates a crucial balance for modern policing. By using proprietary spatial sensors rather than continuous video surveillance, the system protects privacy while maintaining security effectiveness. This approach allows police departments to deploy advanced monitoring in privacy-sensitive locations, reducing both community resistance and data storage requirements. When threats are detected, targeted visual verification activates only as needed, ensuring effective response without unnecessary surveillance of law-abiding citizens.

REVOLUTIONARY ADAPTIVE INTELLIGENCE

At the heart of the Scout MK I is Skylark Labs’ groundbreaking Kepler adaptive AI platform—a breakthrough on-device intelligence system that learns instantly from new environments without pre-training, detects threats proactively through multi-sensor analysis, operates entirely on-device with no external data transmission, adapts continuously to evolving security challenges, and maintains complete functionality without internet connectivity.

“What makes our Kepler platform revolutionary is its ability to recognize potential threats before they fully manifest,” explains Dr. Amarjot Singh, CEO of Skylark Labs. “The system begins learning immediately upon deployment, identifying normal patterns and distinguishing them from potential threats without requiring massive datasets or cloud connectivity. As it encounters new scenarios, it continuously refines its detection capabilities, dramatically reducing false positives while ensuring genuine threats aren’t missed.”

PROVEN TECHNOLOGY

The Scout MK I AI Tower is already being used by public safety clients across the United States.

“As security professionals, we’re constantly balancing effectiveness against resource constraints,” notes Greg West, Western Hemisphere Consulting. “The Scout MK I’s combination of mobility, adaptive intelligence, and privacy protection solves our most pressing operational challenges while building community trust. Its ability to continuously improve threat detection while reducing false alarms addresses the fundamental limitations we’ve faced with previous technologies.”

The Scout MK I AI Tower is now available for demonstration and deployment to qualified agencies and security operators across the United States. For more information about Skylark Labs’ public safety solutions, please visit Mobile Tower System: Advanced Multi-Sensor Surveillance Platform | Skylark Labs.

ABOUT SKYLARK LABS

Skylark Labs is a U.S.-based artificial intelligence company that is revolutionizing AI with adaptive technology that learns on any device from a single experience. Our brain-inspired architecture enables AI that adapts continuously like the human brain, eliminating operational disruptions while reducing costs. As a U.S.-based company, we specialize in advanced AI solutions for defense and security, delivering actionable intelligence at the tactical edge for enhanced situational awareness.

For more information, please contact us at info@skylarklabs.ai.

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SOURCE Skylark Labs, Inc.

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