[198 Pages Report] The Professional services in AI Market size was estimated at USD 7.16 billion in 2023 and expected to reach USD 8.63 billion in 2024, at a CAGR 22.21% to reach USD 29.18 billion by 2030.

Professional services in AI is a specialized service offered by experts and firms with extensive knowledge and experience in artificial intelligence. These services aim to assist businesses, organizations, and individuals leverage AI technologies to achieve their objectives and address specific challenges. The growing need for customized AI solutions, the rapid transformation of digitalization, and increased demand for improved efficiency and enhanced decision-making fuel the market growth. However, the lack of skilled professionals and AI's complexity and rapid evolution has hindered market growth. Furthermore, the increasing advancment and funding in AI technology and the rapid expansion of end-use industries has offered a significant growth opportunity for the market.

The Americas region has a thriving landscape of professional services in AI, with numerous companies and organizations offering AI expertise and solutions. The region is home to major tech hubs, including Silicon Valley in the United States and prominent AI research institutions. The Americas region boasts renowned research institutions and universities contributing significantly to AI advancements. Institutions such as Stanford University, Massachusetts Institute of Technology, and the University of California, have active AI research programs and collaborations with industry partners, driving the demand for professional services in the AI market. The EMEA region has a rapidly growing landscape of professional services in AI with an increased focus on digitalization and a flourishing startup ecosystem. Companies in the EMEA region provide industry-specific AI solutions and consulting services to sectors such as finance, healthcare, manufacturing, transportation, energy, and retail. These solutions range from customer analytics and personalized marketing to predictive maintenance, fraud detection, and autonomous systems. Governments and research institutions in the EMEA region collaborate with companies to foster AI innovation, develop AI strategies, and promote AI adoption, boosting the demand for professional services in the AI market. The APAC region has a dynamic and rapidly evolving landscape of professional services in AI, with governments across the APAC region launching new initiatives and policies to promote AI development and adoption. For instance, China's "New Generation Artificial Intelligence Development Plan" aims to place the country as an AI leader, while Singapore has launched the "AI Singapore" initiative to drive AI innovation and adoption. The APAC landscape of professional services in AI reflects the region's rapid technological growth, entrepreneurial spirit, and commitment to AI innovation. The presence of established research institutions, dynamic startup ecosystems, industry-specific solutions, and government support contribute to the market growth.

The market dynamics represent an ever-changing landscape of the Professional services in AI Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.

• Market Drivers
  • Increasing businesses focus to boost the operational productivity
  • Significant demand for ML services as a SDK and API
  • Broadening adoption of professional AI based services in BFSI and healthcare
• Market Restraints
  • Technical complexities and upfront cost associated with professional AL services
• Market Opportunities
  • Emerging startups landscape investing in AI services
  • Increasing advancements and investment for AI based services
• Market Challenges
  • Limited infrastructure and lack of skilled professionals

The market disruption analysis delves into the core elements associated with market-influencing changes, including breakthrough technological advancements that introduce novel features, integration capabilities, regulatory shifts that could drive or restrain market growth, and the emergence of innovative market players challenging traditional paradigms. This analysis facilitates a competitive advantage by preparing players in the Professional services in AI Market to pre-emptively adapt to these market-influencing changes, enhances risk management by early identification of threats, informs calculated investment decisions, and drives innovation toward areas with the highest demand in the Professional services in AI Market.

The porter's five forces analysis offers a simple and powerful tool for understanding, identifying, and analyzing the position, situation, and power of the businesses in the Professional services in AI Market. This model is helpful for companies to understand the strength of their current competitive position and the position they are considering repositioning into. With a clear understanding of where power lies, businesses can take advantage of a situation of strength, improve weaknesses, and avoid taking wrong steps. The tool identifies whether new products, services, or companies have the potential to be profitable. In addition, it can be very informative when used to understand the balance of power in exceptional use cases.

The value chain of the Professional services in AI Market encompasses all intermediate value addition activities, including raw materials used, product inception, and final delivery, aiding in identifying competitive advantages and improvement areas. Critical path analysis of the <> market identifies task sequences crucial for timely project completion, aiding resource allocation and bottleneck identification. Value chain and critical path analysis methods optimize efficiency, improve quality, enhance competitiveness, and increase profitability. Value chain analysis targets production inefficiencies, and critical path analysis ensures project timeliness. These analyses facilitate businesses in making informed decisions, responding to market demands swiftly, and achieving sustainable growth by optimizing operations and maximizing resource utilization.

The pricing analysis comprehensively evaluates how a product or service is priced within the Professional services in AI Market. This evaluation encompasses various factors that impact the price of a product, including production costs, competition, demand, customer value perception, and changing margins. An essential aspect of this analysis is understanding price elasticity, which measures how sensitive the market for a product is to its price change. It provides insight into competitive pricing strategies, enabling businesses to position their products advantageously in the Professional services in AI Market.

The technology analysis involves evaluating the current and emerging technologies relevant to a specific industry or market. This analysis includes breakthrough trends across the value chain that directly define the future course of long-term profitability and overall advancement in the Professional services in AI Market.

The patent analysis involves evaluating patent filing trends, assessing patent ownership, analyzing the legal status and compliance, and collecting competitive intelligence from patents within the Professional services in AI Market and its parent industry. Analyzing the ownership of patents, assessing their legal status, and interpreting the patents to gather insights into competitors' technology strategies assist businesses in strategizing and optimizing product positioning and investment decisions.

The trade analysis of the Professional services in AI Market explores the complex interplay of import and export activities, emphasizing the critical role played by key trading nations. This analysis identifies geographical discrepancies in trade flows, offering a deep insight into regional disparities to identify geographic areas suitable for market expansion. A detailed analysis of the regulatory landscape focuses on tariffs, taxes, and customs procedures that significantly determine international trade flows. This analysis is crucial for understanding the overarching legal framework that businesses must navigate.

The regulatory framework analysis for the Professional services in AI Market is essential for ensuring legal compliance, managing risks, shaping business strategies, fostering innovation, protecting consumers, accessing markets, maintaining reputation, and managing stakeholder relations. Regulatory frameworks shape business strategies and expansion initiatives, guiding informed decision-making processes. Furthermore, this analysis uncovers avenues for innovation within existing regulations or by advocating for regulatory changes to foster innovation.

The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Professional services in AI Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Professional services in AI Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

• Wipro Expands Google Cloud Partnership to Advance Enterprise Adoption of Generative AI

  Wipro announced an expanded partnership with Google Cloud to provide enterprise customers with access to generative AI capabilities. This partnership allows Wipro to offer its clients industry-leading AI solutions that support business growth and accelerate the development of digital transformation initiatives. By incorporating Google Cloud's advanced AI tools, Wipro can help companies unlock valuable insights from their data and automate processes in a secure manner. [Published On: 2023-05-23]

• PwC Bets USD 1 Billion on AI for Business

  PwC pledged USD 1 billion to invest in artificial intelligence for businesses. By leveraging the power of AI, PwC can help clients identify new opportunities, improve operational efficiency, reduce costs, and ultimately create more value for them. [Published On: 2023-05-18]

• ServiceNow and NVIDIA Announce Partnership to Build Generative AI Across Enterprise IT

  Nvidia and ServiceNow announced a partnership to bring generative AI capabilities to enterprise IT. This collaboration is expected to enable organizations of all sizes to leverage the power of Artificial Intelligence and benefit from predictive analytics that can drive actionable insights. By combining ServiceNow's cloud platform with Nvidia's GPU accelerated computing, companies can gain a competitive advantage and make their business operations more efficient. [Published On: 2023-05-17]

The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Professional services in AI Market. This critical assessment involves a thorough analysis of the organization’s resources, capabilities, and overall performance to identify its core strengths and areas for improvement.

The report delves into recent significant developments in the Professional services in AI Market, highlighting leading vendors and their innovative profiles. These include Microsoft Corporation, International Business Machines Corporation, Infosys Limited, Hewlett Packard Enterprise Development LP, NGS Global, LLC, Tech Mahindra Limited, Databricks, Inc., Kyndryl Inc., EXPERT.AI, Columbus, Velosio, LLC, Ernst & Young Global Limited, KPMG International Limited, NVIDIA Corporation, Open Text Corporation, XFO Financials Inc. dba. Vic.ai, Cognizant Technology Solutions Corporation, AI Professional Services Limited, LivePerson, Inc., IDC CEMA s.r.o., Diveplane Corporation, SAP SE, Accenture PLC, Lately, Inc., Cerence Inc., Booz Allen Hamilton Inc., ReadWrite, INC., People.ai Inc., Wipro Limited, ServiceNow, Inc., Deloitte, and McKinsey & Company.

This research report categorizes the Professional services in AI Market to forecast the revenues and analyze trends in each of the following sub-markets:

• AI Domain
  • Machine Learning & Deep Learning
  • Machine Vision & Hearing
  • Natural Language Processing (NLP)
  • Robotics & Expert Systems
• Application
  • Chatbots
  • Cyber Security
  • Human Resource Management
  • Intelligent CRM
  • Project & Resource Planning
  • Real Time & Predictive Business Intelligence
  • Sales & Marketing Analytics
• Organization Size
  • Large Enterprises
  • Small & Medium-Sized Enterprises
• Vertical
  • Banking, Financial Services & Insurance
  • Energy & Utilities
  • Government
  • Healthcare & Life Sciences
  • IT & Telecommunication
  • Manufacturing
  • Retail & Consumer Goods

• Region
  • Americas
    • Argentina
    • Brazil
    • Canada
    • Mexico
    • United States
      • California
      • Florida
      • Illinois
      • New York
      • Ohio
      • Pennsylvania
      • Texas
  • Asia-Pacific
    • Australia
    • China
    • India
    • Indonesia
    • Japan
    • Malaysia
    • Philippines
    • Singapore
    • South Korea
    • Taiwan
    • Thailand
    • Vietnam
  • Europe, Middle East & Africa
    • Denmark
    • Egypt
    • Finland
    • France
    • Germany
    • Israel
    • Italy
    • Netherlands
    • Nigeria
    • Norway
    • Poland
    • Qatar
    • Russia
    • Saudi Arabia
    • South Africa
    • Spain
    • Sweden
    • Switzerland
    • Turkey
    • United Arab Emirates
    • United Kingdom

1. Market Penetration: This section thoroughly overviews the current market landscape, incorporating detailed data from key industry players.
2. Market Development: The report examines potential growth prospects in emerging markets and assesses expansion opportunities in mature segments.
3. Market Diversification: This includes detailed information on recent product launches, untapped geographic regions, recent industry developments, and strategic investments.
4. Competitive Assessment & Intelligence: An in-depth analysis of the competitive landscape is conducted, covering market share, strategic approaches, product range, certifications, regulatory approvals, patent analysis, technology developments, and advancements in the manufacturing capabilities of leading market players.
5. Product Development & Innovation: This section offers insights into upcoming technologies, research and development efforts, and notable advancements in product innovation.

1. What is the current market size and projected growth?
2. Which products, segments, applications, and regions offer promising investment opportunities?
3. What are the prevailing technology trends and regulatory frameworks?
4. What is the market share and positioning of the leading vendors?
5. What revenue sources and strategic opportunities do vendors in the market consider when deciding to enter or exit?