According to our latest study on "Artificial Intelligence Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis - by Component, Deployment, Organization Size, and Industry Vertical". The artificial intelligence market size was valued at US$ 193.25 billion in 2024 and is expected to reach US$ 1,706.71 billion by 2031; it is estimated to register a CAGR of 37.8% during 2025-2031.

The artificial intelligence market is segmented into five major regions-North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South & Central America. North America dominated the market in 2023, followed by Europe and Asia Pacific, respectively. The Europe artificial intelligence market is segmented into Germany, France, the UK, Italy, Russia, and the Rest of Europe. In terms of revenue, UK dominated the artificial intelligence market share. According to Bank of England data from November 2024, 75% of businesses in the UK have already employed AI in their operations, while another 10% of businesses are planning to adopt it within the next 3 years. These stats indicate an increase from the source's 2022 study, which found that 58% of businesses were utilizing AI, and an additional 14% had plans of utilizing it. AI-based solutions enable businesses to automate data management processes by eliminating inconsistencies and duplication. According to GOV.UK data of November 2024, approximately 524 enterprises in the UK have deployed AI, which employs over 12,000 people and generates more than