Casual Ai Market
Casual Artificial intelligence (AI) Market Forecasts to 2028 - Global Analysis By Offering (Services, Platform and Other Offerings), By Deployment (Cloud and On-premises), By End User (BFSI, Retail & eCommerce, Tansportation & Logistics, Manufacturing and Other End Users) and By Geography
|
Years Covered |
2020-2028 |
|
CAGR (2022 - 2028) |
45.1% |
|
Regions Covered |
North America, Europe, Asia Pacific, South America, and Middle East & Africa |
|
Countries Covered |
US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa |
|
Largest Market |
North America |
|
Highest Growing Market |
North America |
According to Stratistics MRC, the Global Casual AI Market is growing at a CAGR of 45.1% during the forecast period. Artificial intelligence that recognizes cause and effect is known as causal AI. Organizations use causal AI technologies to help explain decision-making and the causes of a decision. Systems based on causal AI can extract insights from historical data that merely predictive AI models would not be able to, as they can identify the underlying web of causality for a behavior or event. When knowing the causes of an event is crucial, such as when calculating the effects of various actions, making policy decisions, or undertaking scenario planning, an analysis of causality may be utilized to support people's opinions.
Market Dynamics:
Driver:
Importance of causal inference models
For applications where accurate forecasts are essential, causal inference models are more suitable. Due to their capacity to establish causal connections between medical disorders and treatments, they are increasingly being used in the healthcare sector for drug development, diagnosis, and treatment planning. The market for causal AI is expanding as a result of the usage of causal inference models in the financial sector for credit risk evaluation, fraud detection, and portfolio optimization. Causal inference models are appropriate for applications where explanations are required because they offer a more accessible and comprehensible approach to predictions.
Restraint:
Acquiring and preparing high-quality data
Effective training of causal AI models requires huge quantities of high-quality data, which can be challenging for humans to come by in many fields. Data that is incomplete, noisy, or biased might result in models that are incorrect or unreliable. In certain circumstances, the data may not exist or be difficult to acquire. Along with the difficulty of obtaining high-quality data, there are difficulties in obtaining the data ready for usage in causal AI and causal ML models. Data must be organized specifically, with variables clearly connected in a cause-and-effect manner, in order for causal AI models to function. To do this, especially in complicated fields where there may be a large number of interacting aspects and variables, it can take an enormous amount of work and expertise.
Opportunity:
Potential to revolutionize the healthcare sector
Researchers, doctors, and healthcare organizations will be able to discover and comprehend the complex relationships between many factors and diseases because of causal AI, which has the potential to completely transform the healthcare sector. The ability of causal AI to assist in identifying the underlying causes of diseases, which can result in more effective preventive and treatment techniques, is one of the major prospects it offers in the field of healthcare. In order to produce more precise and customized diagnoses and treatment plans, causal AI can also be used to evaluate enormous volumes of medical data, such as electronic health records, medical histories, and genetic information. This can raise the overall standard of treatment, lower healthcare expenses, and improve patient outcomes.
Threat:
Causal inference from complex data sets
The ability to extract causality from complicated and enormous data sets is one of the key difficulties tackled by causal AI. The detection of causal relationships is challenging as data sets get larger and more complex. It's possible that the complexity of these data sets is too much for the conventional statistical models employed for causal inference. In order to extract causal connections from huge data sets, more advanced techniques and technologies are therefore required. Additionally, in other circumstances, the causal connection might not be obvious at once and might take a lot of effort to determine. When trying to deliver correct causal conclusions across multiple businesses, this is a big challenge for causal AI.
Covid-19 Impact:
Business operations were altered by the pandemic concern, which also made things more complicated. Companies shifted their work operations to the cloud in order to implement these developments. This accelerated the uptake of cutting-edge technology like AI, machine learning, and others. This technology, which increased the precision and effectiveness of diagnoses, treatments, and predictions, was among the initial innovations to be used by the healthcare industry. In the wake of COVID-19, 66% of firms decided to expand or retain their AI investments, according to a September 2020 Gartner survey report. According to the research, 24% of the enterprises surveyed boosted their AI investments, while 42% held them steady since the pandemic's commencement.
The cloud segment is expected to be the largest during the forecast period
Cloud segment is expected to hold the largest share during the forecast period due to flexible, scalable, and affordable option for enterprises to have access to effective causal inference tools is the cloud-based deployment approach. Without the need for major upfront investments in hardware or software, cloud deployment enables enterprises to scale their resources up or down with ease as needed. Because they can be accessed from any location with an internet connection and allow for remote collaboration and data sharing, cloud-based causal AI platforms, therefore, have the potential to be more accessible. Additionally, cloud deployment reduces IT resources and costs, as does the requirement for businesses to manage and maintain their own physical infrastructure. However, data security and privacy are often ensured by the robust security and compliance measures offered by cloud providers.
The platform segment is expected to have the highest CAGR during the forecast period
Platform segment is anticipated to have lucrative growth throughout the projected period. Platforms for causal AI often use a variety of statistical and machine-learning techniques to identify causal links in data. These methods for causal inference may involve regression analysis, propensity score matching, instrumental variable analysis, and other techniques. Platforms may also offer tools for feature engineering and data prior to treatment to assist users in obtaining their data prepared for analysis. Many platforms for causal AI emphasize usability and accessibility while offering strong capabilities for causal inference. This could involve making the platform's user interfaces, visualizations, and tutorials simple to use.
Region with largest share:
North America dominated the largest share of the market throughout the forecasted period. The growth and development of causal AI are significantly supported by North America. As companies and organizations look for more sophisticated analytics solutions to acquire deeper insights and make better decisions, causal AI is growing in popularity. Additionally, governments in North America, including those in the United States and Canada, have started programs to encourage the creation and use of AI by providing financing and resources to support research and innovation in the area.
Region with highest CAGR:
North America is expected to have profitable growth over the extrapolated period. Both US and Canada have made substantial investments in AI research and development, causal AI has been gaining popularity. The American AI Initiative, which aims to keep the US at the forefront of AI research and development, is merely one of many projects the US government has sponsored to advance the field. Several universities and research centers in Canada are attempting to create AI technology, which has contributed to the field's advancement. With businesses like Google, Amazon, and Microsoft creating AI technology for a variety of applications, the private sector in North America has also been making significant investments in AI research and development.
Key players in the market
Some of the key players in Casual AI market include IBM , H2O.AI, Microsoft, Datarobot, Geminos, Causalens, Google, AWS, Dynatrace, Causality Link, Aitia, Parabole.AI, Causalis, Omics Data Automation and Cognizant.
Key Developments:
In February 2023, Dynatrace introduced new capabilities to Grail that enable boundless exploratory analysis by adding new data types and unlocking support for graph analytics. These capabilities enable Davis, the Dynatrace causal AI engine, to gather even more insights.
In January 2023, CausaLens released a new operating system for decision-making powered by causal AI. The system is designed to help organizations make more accurate predictions and optimize their business processes.
In December 2022, Microsoft launched a causal AI suite (DoWhy, EconML, Causica, and ShowWhy) for decision-making that enables developers and data scientists to build models that provide causal explanations for their predictions. The suite includes the DoWhy, EconML, and CausalML libraries, and is integrated with Azure Machine Learning and Azure Databricks.
In June 2022, Microsoft's collaboration with AWS to develop a new GitHub home for DoWhy will not only enhance the availability of the library but also help Microsoft gain a competitive edge in the causal machine learning space, showing a strategic move to leverage partnerships for growth.
Offerings Covered:
• Services
• Platform
• Other Offerings
Deployments Covered:
• Cloud
• On-premises
End Users Covered:
• BFSI
• Retail & eCommerce
• Tansportation & Logistics
• Manufacturing
• Other End Users
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 End User Analysis
3.7 Emerging Markets
3.8 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Casual AI Market, By Offering
5.1 Introduction
5.2 Services
5.2.1 Consulting Services
5.2.2 Training, Support, and Maintenance
5.2.3 Deployment & Integration
5.3 Platform
5.4 Other Offerings
6 Global Casual AI Market, By Deployment
6.1 Introduction
6.2 Cloud
6.3 On-premises
7 Global Casual AI Market, By End User
7.1 Introduction
7.2 BFSI
7.3 Retail & eCommerce
7.4 Tansportation & Logistics
7.5 Manufacturing
7.6 Other End Users
8 Global Casual AI Market, By Geography
8.1 Introduction
8.2 North America
8.2.1 US
8.2.2 Canada
8.2.3 Mexico
8.3 Europe
8.3.1 Germany
8.3.2 UK
8.3.3 Italy
8.3.4 France
8.3.5 Spain
8.3.6 Rest of Europe
8.4 Asia Pacific
8.4.1 Japan
8.4.2 China
8.4.3 India
8.4.4 Australia
8.4.5 New Zealand
8.4.6 South Korea
8.4.7 Rest of Asia Pacific
8.5 South America
8.5.1 Argentina
8.5.2 Brazil
8.5.3 Chile
8.5.4 Rest of South America
8.6 Middle East & Africa
8.6.1 Saudi Arabia
8.6.2 UAE
8.6.3 Qatar
8.6.4 South Africa
8.6.5 Rest of Middle East & Africa
9 Key Developments
9.1 Agreements, Partnerships, Collaborations and Joint Ventures
9.2 Acquisitions & Mergers
9.3 New Product Launch
9.4 Expansions
9.5 Other Key Strategies
10 Company Profiling
10.1 IBM
10.2 H2O.AI
10.3 Microsoft
10.4 Datarobot
10.5 Geminos
10.6 Causalens
10.7 Google
10.8 AWS
10.9 Dynatrace
10.10 Causality Link
10.11 Aitia
10.12 Parabole.AI
10.13 Causalis
10.14 Omics Data Automation
10.15 Cognizant
List of Tables
1 Global Casual AI Market Outlook, By Region (2020-2028) ($MN)
2 Global Casual AI Market Outlook, By Offering (2020-2028) ($MN)
3 Global Casual AI Market Outlook, By Services (2020-2028) ($MN)
4 Global Casual AI Market Outlook, By Consulting Services (2020-2028) ($MN)
5 Global Casual AI Market Outlook, By Training, Support, and Maintenance (2020-2028) ($MN)
6 Global Casual AI Market Outlook, By Deployment & Integration (2020-2028) ($MN)
7 Global Casual AI Market Outlook, By Platform (2020-2028) ($MN)
8 Global Casual AI Market Outlook, By Other Offerings (2020-2028) ($MN)
9 Global Casual AI Market Outlook, By Deployment (2020-2028) ($MN)
10 Global Casual AI Market Outlook, By Cloud (2020-2028) ($MN)
11 Global Casual AI Market Outlook, By On-premises (2020-2028) ($MN)
12 Global Casual AI Market Outlook, By End User (2020-2028) ($MN)
13 Global Casual AI Market Outlook, By BFSI (2020-2028) ($MN)
14 Global Casual AI Market Outlook, By Retail & eCommerce (2020-2028) ($MN)
15 Global Casual AI Market Outlook, By Tansportation & Logistics (2020-2028) ($MN)
16 Global Casual AI Market Outlook, By Manufacturing (2020-2028) ($MN)
17 Global Casual AI Market Outlook, By Other End Users (2020-2028) ($MN)
18 North America Casual AI Market Outlook, By Country (2020-2028) ($MN)
19 North America Casual AI Market Outlook, By Offering (2020-2028) ($MN)
20 North America Casual AI Market Outlook, By Services (2020-2028) ($MN)
21 North America Casual AI Market Outlook, By Consulting Services (2020-2028) ($MN)
22 North America Casual AI Market Outlook, By Training, Support, and Maintenance (2020-2028) ($MN)
23 North America Casual AI Market Outlook, By Deployment & Integration (2020-2028) ($MN)
24 North America Casual AI Market Outlook, By Platform (2020-2028) ($MN)
25 North America Casual AI Market Outlook, By Other Offerings (2020-2028) ($MN)
26 North America Casual AI Market Outlook, By Deployment (2020-2028) ($MN)
27 North America Casual AI Market Outlook, By Cloud (2020-2028) ($MN)
28 North America Casual AI Market Outlook, By On-premises (2020-2028) ($MN)
29 North America Casual AI Market Outlook, By End User (2020-2028) ($MN)
30 North America Casual AI Market Outlook, By BFSI (2020-2028) ($MN)
31 North America Casual AI Market Outlook, By Retail & eCommerce (2020-2028) ($MN)
32 North America Casual AI Market Outlook, By Tansportation & Logistics (2020-2028) ($MN)
33 North America Casual AI Market Outlook, By Manufacturing (2020-2028) ($MN)
34 North America Casual AI Market Outlook, By Other End Users (2020-2028) ($MN)
35 Europe Casual AI Market Outlook, By Country (2020-2028) ($MN)
36 Europe Casual AI Market Outlook, By Offering (2020-2028) ($MN)
37 Europe Casual AI Market Outlook, By Services (2020-2028) ($MN)
38 Europe Casual AI Market Outlook, By Consulting Services (2020-2028) ($MN)
39 Europe Casual AI Market Outlook, By Training, Support, and Maintenance (2020-2028) ($MN)
40 Europe Casual AI Market Outlook, By Deployment & Integration (2020-2028) ($MN)
41 Europe Casual AI Market Outlook, By Platform (2020-2028) ($MN)
42 Europe Casual AI Market Outlook, By Other Offerings (2020-2028) ($MN)
43 Europe Casual AI Market Outlook, By Deployment (2020-2028) ($MN)
44 Europe Casual AI Market Outlook, By Cloud (2020-2028) ($MN)
45 Europe Casual AI Market Outlook, By On-premises (2020-2028) ($MN)
46 Europe Casual AI Market Outlook, By End User (2020-2028) ($MN)
47 Europe Casual AI Market Outlook, By BFSI (2020-2028) ($MN)
48 Europe Casual AI Market Outlook, By Retail & eCommerce (2020-2028) ($MN)
49 Europe Casual AI Market Outlook, By Tansportation & Logistics (2020-2028) ($MN)
50 Europe Casual AI Market Outlook, By Manufacturing (2020-2028) ($MN)
51 Europe Casual AI Market Outlook, By Other End Users (2020-2028) ($MN)
52 Asia Pacific Casual AI Market Outlook, By Country (2020-2028) ($MN)
53 Asia Pacific Casual AI Market Outlook, By Offering (2020-2028) ($MN)
54 Asia Pacific Casual AI Market Outlook, By Services (2020-2028) ($MN)
55 Asia Pacific Casual AI Market Outlook, By Consulting Services (2020-2028) ($MN)
56 Asia Pacific Casual AI Market Outlook, By Training, Support, and Maintenance (2020-2028) ($MN)
57 Asia Pacific Casual AI Market Outlook, By Deployment & Integration (2020-2028) ($MN)
58 Asia Pacific Casual AI Market Outlook, By Platform (2020-2028) ($MN)
59 Asia Pacific Casual AI Market Outlook, By Other Offerings (2020-2028) ($MN)
60 Asia Pacific Casual AI Market Outlook, By Deployment (2020-2028) ($MN)
61 Asia Pacific Casual AI Market Outlook, By Cloud (2020-2028) ($MN)
62 Asia Pacific Casual AI Market Outlook, By On-premises (2020-2028) ($MN)
63 Asia Pacific Casual AI Market Outlook, By End User (2020-2028) ($MN)
64 Asia Pacific Casual AI Market Outlook, By BFSI (2020-2028) ($MN)
65 Asia Pacific Casual AI Market Outlook, By Retail & eCommerce (2020-2028) ($MN)
66 Asia Pacific Casual AI Market Outlook, By Tansportation & Logistics (2020-2028) ($MN)
67 Asia Pacific Casual AI Market Outlook, By Manufacturing (2020-2028) ($MN)
68 Asia Pacific Casual AI Market Outlook, By Other End Users (2020-2028) ($MN)
69 South America Casual AI Market Outlook, By Country (2020-2028) ($MN)
70 South America Casual AI Market Outlook, By Offering (2020-2028) ($MN)
71 South America Casual AI Market Outlook, By Services (2020-2028) ($MN)
72 South America Casual AI Market Outlook, By Consulting Services (2020-2028) ($MN)
73 South America Casual AI Market Outlook, By Training, Support, and Maintenance (2020-2028) ($MN)
74 South America Casual AI Market Outlook, By Deployment & Integration (2020-2028) ($MN)
75 South America Casual AI Market Outlook, By Platform (2020-2028) ($MN)
76 South America Casual AI Market Outlook, By Other Offerings (2020-2028) ($MN)
77 South America Casual AI Market Outlook, By Deployment (2020-2028) ($MN)
78 South America Casual AI Market Outlook, By Cloud (2020-2028) ($MN)
79 South America Casual AI Market Outlook, By On-premises (2020-2028) ($MN)
80 South America Casual AI Market Outlook, By End User (2020-2028) ($MN)
81 South America Casual AI Market Outlook, By BFSI (2020-2028) ($MN)
82 South America Casual AI Market Outlook, By Retail & eCommerce (2020-2028) ($MN)
83 South America Casual AI Market Outlook, By Tansportation & Logistics (2020-2028) ($MN)
84 South America Casual AI Market Outlook, By Manufacturing (2020-2028) ($MN)
85 South America Casual AI Market Outlook, By Other End Users (2020-2028) ($MN)
86 Middle East & Africa Casual AI Market Outlook, By Country (2020-2028) ($MN)
87 Middle East & Africa Casual AI Market Outlook, By Offering (2020-2028) ($MN)
88 Middle East & Africa Casual AI Market Outlook, By Services (2020-2028) ($MN)
89 Middle East & Africa Casual AI Market Outlook, By Consulting Services (2020-2028) ($MN)
90 Middle East & Africa Casual AI Market Outlook, By Training, Support, and Maintenance (2020-2028) ($MN)
91 Middle East & Africa Casual AI Market Outlook, By Deployment & Integration (2020-2028) ($MN)
92 Middle East & Africa Casual AI Market Outlook, By Platform (2020-2028) ($MN)
93 Middle East & Africa Casual AI Market Outlook, By Other Offerings (2020-2028) ($MN)
94 Middle East & Africa Casual AI Market Outlook, By Deployment (2020-2028) ($MN)
95 Middle East & Africa Casual AI Market Outlook, By Cloud (2020-2028) ($MN)
96 Middle East & Africa Casual AI Market Outlook, By On-premises (2020-2028) ($MN)
97 Middle East & Africa Casual AI Market Outlook, By End User (2020-2028) ($MN)
98 Middle East & Africa Casual AI Market Outlook, By BFSI (2020-2028) ($MN)
99 Middle East & Africa Casual AI Market Outlook, By Retail & eCommerce (2020-2028) ($MN)
100 Middle East & Africa Casual AI Market Outlook, By Tansportation & Logistics (2020-2028) ($MN)
101 Middle East & Africa Casual AI Market Outlook, By Manufacturing (2020-2028) ($MN)
102 Middle East & Africa Casual AI Market Outlook, By Other End Users (2020-2028) ($MN)
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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