Citizen Services AI Market Size Hits $41.0 Billion by 2027, growing at a CAGR of 44.5%: Report by MarketsandMarkets™

0
92

Chicago, Jan. 20, 2023 (GLOBE NEWSWIRE) — The global Citizen Services AI Market size is projected to grow from USD 6.5 Billion in 2022 to USD 41.0 Billion by 2027, at a CAGR of 44.5% during the forecast period, according to a new report by MarketsandMarkets™. The primary drivers of the market include greater automation and agility, the requirement for IT modernization in government agencies, automation of manual operations to relieve pressure and improve citizen experience, and enhanced cost savings.

Browse in-depth TOC on “Citizen Services AI Market”

260 – Tables
46 – Figures
250 – Pages

Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=147682438

Scope of the Report

Report Metrics Details
Market size value in 2022 USD 6.5 Billion
Revenue forecast by 2027 USD 41.0 Billion
Growth Rate (CAGR) CAGR of 44.5% from 2022 to 2027
Market size available for years 2017–2027
Base year considered 2021
Forecast period 2022–2027
Forecast units USD Million/USD Billion
Segments covered Component, Organization Size, Deployment mode technology, vertical, and region
Geographies covered North America, Europe, Asia Pacific, Middle East and Africa and Latin America
Companies covered IBM (US), ServiceNow (US), AWS (US), NVIDIA (US), Microsoft (US), Intel (US), Alfresco (US), Waymo (US), Voyager Labs (US), Accenture (Ireland), Alibaba (China), Tencent (China), Pegasystems (US), Baidu (China), Automation Anywhere (US), OpenText (Canada), H2O.AI (US), and ADDO (Singapore).

By gathering and interpreting analytical data, the citizen services AI effectively deploys public resources. Renewing a driver’s license, administering health and human services, keeping an eye on social media, controlling traffic, and assisting the general public in interacting with government agencies are just a few of the operations where citizen services AI is applied.

By technology, the citizen services AI market has been segmented into machine learning, natural language processing, image processing, face recognition, and other technologies. The other technologies include speech recognition and voice recognition. The other technologies segment is projected to register a CAGR of 52.2% during the forecast period. As governments across the globe look for better, more effective methods for their people to work, speech recognition could be the technology that solves the age-old problem of slow, manual documentation. Voice recognition technology uses voice analysis to confirm a person’s identification and is different from speech recognition. It can confirm a speaker’s identification based on his or her distinctive vocal characteristics.

The citizen services AI market has been segmented by component into solution and services. The rapid adoption of citizen services AI in various organizations and across different verticals for better service delivery to citizens resulted in the growth of the solution segment. The solution segment is projected to grow from USD 3,596 million in 2022 to USD 21,034 million by 2027, at a CAGR of 42.2% during the forecast period. The solution segment is also anticipated to lead the North American market, growing from USD 1,350 million in 2022 to USD 6,716 million by 2027, at a CAGR of 37.8% during the forecast period.

By organization size, the citizen services AI market has been segmented into large enterprises and SMEs. The SMEs segment is expected to register a higher CAGR of 45.7% during the forecast period. Advancement in technologies, such as big data and cloud, is driving the adoption of citizen services AI solutions in SMEs. The adoption of citizen services AI enables SMEs to improve their competitiveness and reduce operating costs. The SMEs segment is anticipated to register a significant CAGR of 50.6% in the Asia Pacific region during the forecast period.

The citizen services AI market has been segmented into five geographic regions: North America, Europe, Asia Pacific, the Middle East & Africa, and Latin America. Among these regions, the market in Asia Pacific is expected to register the highest CAGR of 44.8% during the forecast period. With a noticeable rise in citizen services AI throughout the developed and emerging countries, Asia Pacific has always offered lucrative market prospects for citizen services AI solutions. Countries such as Australia, Japan, Singapore, China, and India have shown ample growth potential in the citizen services AI market. Over the next five years, the region is anticipated to offer major growth potential.

Request Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=147682438

The citizen services AI market has been segmented into five geographic regions: North America, Europe, Asia Pacific, the Middle East & Africa, and Latin America. Among these regions, the market in Asia Pacific is expected to register the highest CAGR of 44.8% during the forecast period. With a noticeable rise in citizen services AI throughout the developed and emerging countries, Asia Pacific has always offered lucrative market prospects for citizen services AI solutions. Countries such as Australia, Japan, Singapore, China, and India have shown ample growth potential in the citizen services AI market. Over the next five years, the region is anticipated to offer major growth potential.

Market Players

Some of the major Citizen Services AI Market vendors are IBM (US), ServiceNow (US), AWS (US), NVIDIA (US), Microsoft (US), Intel (US), Alfresco (US), Waymo (US), Voyager Labs (US), Accenture (Ireland), Alibaba (China), Tencent (China), Pegasystems (US), Baidu (China), Automation Anywhere (US), OpenText (Canada), H2O.AI (US), and ADDO (Singapore).

Browse Adjacent Markets: Digitalization and Internet of Things (IoT) Market Research Reports & Consulting

Related Reports

Smart Buildings Market  – Global Forecast to 2027

Supply Chain Management Market  – Global Forecast to 2027

Student Information System Market  – Global Forecast to 2027

Artificial Intelligence Market  – Global Forecast to 2027

5G Services Market  – Global Forecast to 2027