India Artificial Intelligence Market Size & Outlook
India artificial intelligence market, 2017-2030 (US$M)
Related Markets
India artificial intelligence market highlights
- The India artificial intelligence market generated a revenue of USD 10,284.7 million in 2023 and is expected to reach USD 184,464.3 million by 2030.
- The India market is expected to grow at a CAGR of 51% from 2024 to 2030.
- In terms of segment, software was the largest revenue generating solution in 2023.
- Services is the most lucrative solution segment registering the fastest growth during the forecast period.
Artificial intelligence market data book summary
| Market revenue in 2023 | USD 10,284.7 million |
| Market revenue in 2030 | USD 184,464.3 million |
| Growth rate | 51% (CAGR from 2023 to 2030) |
| Largest segment | Software |
| Fastest growing segment | Services |
| Historical data | 2017 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Hardware, Software, Services |
| Key market players worldwide | Advanced Micro Devices Inc, AiCure, ARM Holdings PLC ADR, Baidu Inc ADR, Alphabet Inc Class A, International Business Machines Corp, Intel Corp, Microsoft Corp, NVIDIA Corp |
Other key industry trends
- In terms of revenue, India accounted for 5.2% of the global artificial intelligence market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China artificial intelligence market is projected to lead the regional market in terms of revenue in 2030.
- South Korea is the fastest growing regional market in Asia Pacific and is projected to reach USD 93,334.3 million by 2030.
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Artificial Intelligence Market Scope
Artificial Intelligence Market Companies
| Name | Profile | # Employees | HQ | Website |
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India artificial intelligence market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to artificial intelligence market will help companies and investors design strategic landscapes.
Software was the largest segment with a revenue share of 35.75% in 2023. Horizon Databook has segmented the India artificial intelligence market based on hardware, software, services covering the revenue growth of each sub-segment from 2017 to 2030.
Indian e-commerce companies leverage AI for personalized product recommendations, dynamic pricing, and fraud detection, enhancing customer experiences and optimizing business operations. For instance, Flipkart, India's online marketplace, uses AI algorithms to provide personalized product recommendations to its customers.
AI is being adopted in India's agricultural sector to implement precision farming, monitor crop health, and use predictive analytics for optimizing crop yields and enhancing farmers' livelihoods. For instance, Ag Next is an Indian agricultural technology company that leverages AI for crop quality assessment, traceability, and predictive analytics.
The Indian government is actively supporting the progress of artificial intelligence (AI) through multiple initiatives, notably the National AI Strategy. This strategy outlines the country's approach to AI research, development, and adoption, aiming to unlock AI's potential for fostering innovation, economic prosperity, and societal progress.
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Horizon Databook provides a detailed overview of country-level data and insights on the India artificial intelligence market , including forecasts for subscribers. This country databook contains high-level insights into India artificial intelligence market from 2017 to 2030, including revenue numbers, major trends, and company profiles.
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India artificial intelligence market size, by solution, 2017-2030 (US$M)
India Artificial Intelligence Market Outlook Share, 2023 & 2030 (US$M)
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