According to a new report, published by KBV research, The Global Citizen Services AI Market size is expected to reach $48.6 billion by 2028, rising at a market growth of 39.8% CAGR during the forecast period.
The Services segment is showcasing a CAGR of 43.1% during (2022 - 2028). With the businesses and governmental organisations' ever-increasing demand to ameliorate their operational efficiency to citizenry services, the whole service industry is growing considerably. Adopting AI services will help in improving customer services which will further usher improvements across all fields including customer loyalty, brand image, revenue, repeated purchases, and more.
The Machine Learning segment acquired maximum revenue share in the Global Citizen Services AI Market by Technology in 2021 thereby, achieving a market value of $18.7 billion by 2028. Machine learning technology can quickly scan, dissect, and react to animalities as well as automatically improve the overall performance. Using machine learning government agencies can deliver economical and sophisticated AI services to citizens.
The Cloud segment has shown the growth rate of 42.8% during (2022 - 2028). Cloud based AI services has sustained a competitive edge by removing the administrative barriers of supporting infrastructure, which enables the organisations to concentrate on business competencies. Due to the deployment of these services it is expected project a remarkable growth in the forecast period.
The Large Enterprises segment is generating highest revenue share in the Global Citizen Services AI Market by Organization Size in 2021 thereby, achieving a market value of $36.4 billion by 2028. With the availability of computation power to enterprises to automate processes, enhance customer experience, and develop intelligent & innovative ways to help with repetitive business processes, the market is forecasted to grow at a steady pace.
The Healthcare segment is poised to grow at a CAGR of 40.4% during (2022 - 2028). Healthcare industries are incorporating citizen service AI for better and faster diagnosis. By using these technologies, data mining for the patient from available data sources to form a hypothesis and correct detection of illness can be made possible in no time. The application of AI also helps in online virtual health assistance, appointment scheduling, billing processes and so on.
The North America market dominated the Global Citizen Services AI Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $17.8 billion by 2028. The Europe market is exhibiting a CAGR of 38.9% during (2022 - 2028). Additionally, The Asia Pacific market would showcase a CAGR of 41.1% during (2022 - 2028).
Full Report: https://www.kbvresearch.com/citizen-services-ai-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of ServiceNow, Inc., Microsoft Corporation, IBM Corporation, Accenture PLC, Amazon Web Services, Inc. (Amazon.com, Inc.), Nvidia Corporation, Intel Corporation, Alibaba Group Holding Limited, Tencent Holdings Ltd., and Pegasystems, Inc.
By Component
By Technology
By Deployment Mode
By Organization Size
By Vertical
By Geography
Companies Profiled
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