The global AI consulting services market is expected to reach a market valuation of US$ 525.65 billion by the end of the year 2023, rising at a CAGR of 4.3% over the forecast period (2023 to 2033). With the advancement of technologies and the demand for internet services to grow the market, the AI consulting service market is experiencing rapid growth.
With businesses leveraging AI to improve their operations and competitiveness, AI consulting services are expected to grow in demand. Services offered by AI consulting companies range from the creation of AI strategies to the implementation and support of AI solutions.
The market is supported by:
More companies are expected to enter the AI consulting services market and existing players will expand their product offerings in the coming years. Consumers are demanding more innovative and advanced technologies from companies operating in the market. Small boutique firms and large multinational companies provide AI consulting services in North America. AI consulting services are primarily offered in North America and Europe, as these regions have a large number of companies providing automation consulting and digital transformation strategy formulation services.
Computer programs that replicate human intelligence perform tasks and analyze data. Using artificial intelligence and machine learning models, the analysis of unique datasets and the completion of specific tasks requires algorithms and collected data. To meet their overall business goals, businesses are increasingly focusing on developing AI strategies. Businesses can benefit from personalized AI consulting services that can assist them in developing strategies that are suited to their specific needs, as well as identifying the AI solutions best suited to their needs.
To gain a greater share of the AI consulting service market, key producers are committed to manufacturing the service. Some of these companies include IBM, Google, Salesforce.com, Chatbots. Studio, Accenture, Centric Consulting, Opex Analytics Inc., Adastra, ADDO AI, AIBRIDGE, Sofbang LLC., Eigen Innovations, and among others.
For instance, Schneider Electric revealed new details about providing off-the-shelf products for specific needs and advising customers on advanced AI technologies. By combining the expertise of Schneider Electric's 200+ artificial intelligence experts with its AI Consulting Services domain expertise, the central AI Hub will help customers unlock new capabilities for capturing insights, predicting, simulating, and making more agile decisions.
The experts in artificial intelligence and data science possess the skills and experience needed when developing AI applications for automation, electrification, and decarbonization. As part of the program, various companies provide a wide range of services, including alarm management, microgrid management, enhanced HVAC performance, charging management for electric vehicles, smart charging, facility management, automation, energy efficiency, and optimization of gH2 flow.
For instance, Yokogawa Electric Corporation has introduced reinforcement learning services for its edge controllers. Using the Factorial Kernel Dynamic Policy Programming (FKDPP) reinforcement learning AI algorithm, the autonomous control service has been optimized to operate with OpreX Realtime OS-based Machine Controllers (e-RT3 Plus). Additional consulting and training options are also available, depending on the needs of the end user. The software will be released globally, with consulting and training programs initially provided in Japan.
| Data Points | Key Statistics |
|---|---|
| Estimated Base Year Value (2022) | US$ 510 billion |
| Expected Market Value (2023) | US$ 525.65 billion |
| Anticipated Forecast Value (2033) | US$ 801 billion |
| Projected Growth Rate (2023 to 2033) | 4.3% CAGR |
Artificial Intelligence (AI) consulting services are multi- layered technical services that help enterprises enhance their business operations via implementing analytical processing and Machine Learning (ML) capabilities.
AI consulting services leverage Big Data accumulated from various IoT and IT related tools and devices. The information fed into the platform is used to formulate operational strategies and facilitates commercial diligence. AI consulting services also ensure proper implementation of initiatives and strategies.
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Enterprise-grade IT operations are surpassing human scale. Traditional approach towards monitoring and tackling IT challenges is not enough in today’s dynamic IT environments. Manual Identification and management of such complexities lacks the much needed efficiency.
IT infrastructure exceeding human scale is the primary factor driving the adoption of AI consulting services in the global landscape. Volume of information that an IT infrastructure is required to process and archive is rising at a noteworthy pace.
Performance monitoring and management operations are giving out a larger number of alerts and notifications. Volume of tickets raised is experiencing considerable increase with introduction of Application Programming Interfaces (APIs), Internet of Things (IoT) devices, and solution mobility applications.
This factor makes manual reporting and analysis intensely complicated, thus increasing the demand for AI consulting services.Infrastructure related challenges demand immediate escalation. Technological consumerization has raised user expectations in every end-use industry.
IT infrastructure related events, notifications and alerts demand immediate attention, especially in cases where such issues affect user experience. AI consulting services possess great potential to cater to this demand. This in turn enhances their attractiveness in the market.
Some of the major players in the global AI consulting services market are
Following are recent key developments in global AI consulting services market:
Principal Consultant
AI consulting services have not yet gained traction on a global level. Among all the regional markets AI consulting services market in North America currently dominates the global landscape. Markets for AI consulting services in Europe and South Asia Pacific are projected to offer most attractive opportunities for solution providers.
AI consulting services market in the United States is expected to dominate the global landscape in terms of revenue from sales over the forecast period. Markets for AI consulting services in Brazil GCC Countries and India are estimated to record strong growth rates over the forecast period. The accelerated adoption may be attributed to constant advancements in IT sector in these countries.
The AI consulting services market report is a compilation of first-hand information qualitative and quantitative assessment by industry analysts and inputs from industry experts and industry participants across the value chain.
The report provides in-depth analysis of parent market trends macro-economic indicators and governing factors along with market attractiveness as per segment. The market report also maps the qualitative impact of various market factors on market segments and geographies.
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The global AI Consulting Services market can been segmented on the basis of use case, enterprise size and vertical.
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AI Consulting Services Market
