Intelligent security systems – Part 1 of 6

Advantages and flexibility drive AI market to new heights

The fast evolving and increasing use of artificial intelligence (AI) is opening new opportunities for a wide number of sectors. This means also new business options for providers of physical security solutions – especially within risk management but also AI-equipped camera technology can also provide customers with data-based services beyond security.

A recent AI market report from Marketsandmarkets reveals a market with an enormous growth and potential.

In a new artificial intelligence market report Marketsandmarkets has divided vertical markets into BFSI, IT/ITES, telecommunication, healthcare and life sciences, manufacturing, retail and ecommerce, government and defence, automotive transportation and logistics, energy and utilities, and others, such as travel and hospitality, and education. Using these divisions, the researchers found that the healthcare and life sciences vertical is expected to grow at the highest CAGR during the forecast period.

Extreme growth

Since its introduction in the market, artificial intelligence technology has quickly acquired acceptance. The worldwide artificial intelligence market is expanding significantly as a result of the increasing demand for artificial intelligence technologies across numerous industry verticals, and according to the latest research on the subject, this sector is projected to show growth from $86.9 billion in 2022 to $407 billion USD in 2027.

Growth sectors

Healthcare and life sciences, as an industry, is growing at a good pace and is expected to contribute significantly to the globally artificial intelligence market. Applications for artificial intelligence in healthcare include patient data and risk analysis, medical imaging and diagnostics, precision medicine medicine, drug discovery, and much more. Patient data is expanding as a result of the widespread use of electronic medical records, and the risk analysis market is also expanding because of benefits like risk management and predictive analytics provided by AI systems to payers and healthcare providers.

Cloud deployments have most potential

The artificial intelligence market by deployment mode is segmented into cloud and on-premises. Various advantages, such as lower operational expenses, hasslefree deployment, and more, are provided by the cloud deployment approach. With increasing awareness of the advantages of cloud-based solutions, cloud adoption for Machine Learning and Natural Language Processing tools in AI is anticipated to increase. It gives businesses more operational flexibility and makes real-time analytics implementation easier for businesses.

Business decisions based on AI

In terms of geography, North America is set to have the highest market size during the forecasted period. The Americas AI digital age that has grown in the retail operation is the foundation of AI in industrial developments. All sectors of retail have seen an improvement in speed, productivity, and reliability, in large part due to cutting-edge data and advanced analytical technology that help businesses make decisions based on data. Businesses are now able to compile and assess individual customer data in order to run promotional campaigns because of cutting-edge AI technology. For this reason, regional retailers are using cutting-edge technology to improve their e-commerce platforms.

Main players

Some of the major artificial intelligence market vendors named by the analysts, are, Google Inc, Microsoft Corporation, Nvidia Corporation, Intel Corporation, Samsung Electronics Co., Ltd, IBM Corporation, Amazon Web Services, Inc., Oracle, Meta, Salesforce, Cisco, Siemens, Huawei, Sap SE, SAS Institute, Baidu, Inc, Alibaba Cloud, Iflytec, and Hewlett Packard Enterprise Development LP.

Note: This editorial article has primarily been produced for the security trade magazine Detektor in collaboration with

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