Causal AI Market Size Worth $ 543.73 Million By 2032 | CAGR: 40.3%

The global causal AI market size is expected to reach USD 543.73 million by 2032, according to a new study by Polaris Market Research. The report “Causal AI Market Share, Size, Trends, Industry Analysis Report, By Offering (Platform, Cloud, On-premises, Services); By Vertical; By Region; Segment Forecast, 2023 - 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.

The growing adoption and utilization of big data analytics drive the market's growth. The proliferation of data has created a need for advanced analytics techniques to extract valuable insights. Causal AI techniques can uncover causal relationships within large datasets, helping businesses identify hidden patterns and make more accurate predictions. The latest Worldwide Big Data and Analytics (BDA) Spending Guide from International Data Corporation (IDC) predicts that Australia and New Zealand (ANZ) will spend USD 8.9 Million on BDA solutions over the five years between 2021 and 2026, growing at a compound annual growth rate of 13.3%. In 2022, these expenses are expected to total USD 5.5 Million. The growing prominence of big data analytics drives the demand for causal AI. By combining the power of big data analytics with causal AI techniques, organizations can unlock deeper insights, improve decision-making, address the limitations of correlation-based analyses, and achieve more accurate predictions and actionable outcomes.

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An increase in company funding is fuelling the research and development activities in the Causal AI field. CausaLens, a company specializing in Causal AI, has successfully raised USD 45 million in a Series A funding round in 2022. Molten Ventures and Dorilton Ventures took the lead in the funding round. This substantial investment will empower causaLens to expand its operations and bring the remarkable advantages of Causal AI to organizations across various sectors and geographical regions. The funding will support the company's efforts in advancing the adoption and application of Causal AI, enabling businesses to leverage its transformative capabilities for improved decision-making and insights.

Causal AI Market Report Highlights

• Platform segment is anticipated to witness faster growth in the coming years due to the growing need for data integration and preprocessing.
• Healthcare & Life Sciences segment accounted for the larger market share owing to the complex healthcare challenges, growing demand for precision medicine and personalized care.
• APAC is projected to register a higher growth rate in the study period owing to the rise in the AI adoption rate in healthcare, retail, BFSI, industrial and automation sectors.
• North America is expected to grow larger revenue share owing to the growing investments in computational technology.
• The global players include OpenAI, Google, Microsoft, Amazon, IBM, Facebook, Apple, Baidu, Salesforce, NVIDIA, Intel, Tencent, Alibaba, Huawei, Samsung, Oracle, SAP, Adobe, Twitter, Lyft, Uber, Pinterest, Netflix, Spotify, Airbnb, Dropbox, Slack, Zoom, TikTok, Snapchat, WeChat, Attivio, Ayasdi, Clarifai, Descartes Labs, Indico, Anki & iCarbonX.

Polaris Market Research has segmented the causal AI market report based on offering, vertical and region:

Causal AI, Offering Outlook (Revenue - USD Million, 2019 - 2032)

• Platform
  • By Deployment
    • Cloud
    • On-premises
• Services
  • Consulting Services
  • Deployment & Integration
  • Training, Support, and Maintenance

Causal AI, Vertical Outlook (Revenue - USD Million, 2019 - 2032)

• Healthcare & Lifesciences
• BFSI
• Retail & eCommerce
• Transportation & Logistics
• Manufacturing
• Other Verticals

Causal AI, Regional Outlook (Revenue - USD Million, 2019 - 2032)

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Netherlands
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Indonesia
  • Malaysia
• Latin America
  • Argentina
  • Brazil
  • Mexico
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Israel
  • South Africa

Causal AI Market Report Scope