Causal AI Research Forecast Report 2024-2030: Market to Reach $456 Million by 2030, Growing at a CAGR of 41.8% Driven by Demand from Healthcare, Finance, and Autonomous Vehicles - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Causal AI Market by Offering, Application - Global Forecast to 2030" report has been added to ResearchAndMarkets.com's offering.

It is anticipated that the Causal AI market will experience substantial growth, increasing from USD 56.2 million in 2024 to USD 456.8 million by 2030, with a strong CAGR of 41.8% throughout the forecast period.

The report would provide the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall Causal AI market and its subsegments. It would help stakeholders understand the competitive landscape and gain more insights better to position their business and plan suitable go-to-market strategies. It also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.

The rise is fueled by growing demand for advanced decision-making tools in industries such as healthcare, finance, and autonomous vehicles, where traditional AI approaches struggle to clarify the causal relationships behind predictions.

Moreover, the increasing significance of employing Causal AI across different industries is evident, particularly in swift analysis and tailored services, as the focus shifts from identifying relationships to executing plans rooted in causality. However, significant obstacles are being faced by the market due to the complex process of constructing and putting into effect causal inference models. This requires extensive knowledge and computational resources, possibly restricting smaller companies from adopting them. Moreover, worries about data privacy and adhering to regulations still hinder the availability and use of data, highlighting the difficulty of balancing innovation with ethical concerns.

By offering, software segment is expected to have the largest market share during the forecast period

During the forecast period, the software segment is expected to have largest market share in the causal AI market by enabling organizations to leverage advanced causal inference capabilities for decision-making. Causal AI technology provides businesses with tools and platforms to discover cause and effect connections, going beyond traditional predictive analytics.

This ability is increasingly crucial for companies looking to make well-informed decisions in complex, constantly changing environments. Software solutions can improve, customize, and integrate with existing systems to increase accessibility and flexibility in sectors such as healthcare, finance, retail, and manufacturing. Moreover, the quick advancement of AI platforms, cloud-based deployment choices, and easy-to-use interfaces has also increased the adoption of software. Businesses are using causal AI technology to improve operations, enhance customer interactions, and enhance risk management through analyzing data for actionable insights.

By vertical, Healthcare & Life sciences is expected to register the fastest market growth rate during the forecast period.

The healthcare and life sciences industry is forecasted to experience fast growth in the causal AI market as it holds promise for transforming personalized medicine, drug development, and enhancing patient care. Causal AI enables healthcare providers and researchers to uncover causal connections, resulting in improved comprehension of disease development, treatment efficacy, and overall health outcomes. This capacity improves clinical decision-making, minimizes trial-and-error in treatments, and speeds up drug development processes by recognizing influential factors affecting health conditions.

Furthermore, in medical research, it is crucial for causal AI to analyze large datasets while considering confounding variables in order to understand causality instead of just correlation. Healthcare organizations are increasingly using causal AI to meet the growing need for predictive and prescriptive analytics in order to control costs, boost patient outcomes, and improve operational efficiency. Advancements in digitizing medical data, including electronic health records and wearable health devices, are also driving growth in the sector, creating opportunities for causal AI applications.

By Region, North America to have the largest market share in 2024, and Asia Pacific is slated to grow at the fastest rate during the forecast period.

North America is projected to be at the forefront of the casual AI market by 2024, as a result of its advanced technology, significant investments in AI R&D, and the major presence of key companies like Google, IBM, and Microsoft. The area has developed a strong atmosphere that supports the application of causal AI across sectors like healthcare, finance, and manufacturing, giving an advantage in competition. Additionally, its significant impact in the field is reinforced by top educational establishments and a dedication to fostering innovation.

However, the Asia Pacific (APAC) area is expected to experience the most rapid expansion in the estimated period because of rapid digital transformation and growing enthusiasm for AI-driven solutions in nations like China, Japan, and India. The rapid growth of the region is fueled by the increasing embrace of AI in industries such as e-commerce, automotive production, and finance, combined with significant backing and funding for AI research from the government. Moreover, an increasing number of technology proficient individuals and the flourishing startup culture in APAC are leading to a demand for informal AI programs, positioning it as a rapidly growing sector in the times ahead.

The report provides insights on the following pointers:

• Analysis of key drivers (Increasing Demand for Explainable AI in Regulated Industries, Growing demand for Robust Counterfactual Analysis, Surge in Demand for Predictive Maintenance and Root Cause Analysis, Shift from Predictive to Causal AI based Prescriptive Analytics), restraints (Lack of Standardized Tools and Frameworks for Causal Inference, High Computational Costs for Causal Modeling), opportunities (Causal AI in Precision Healthcare and Drug Discovery, Scalable Causal Inference APIs for Real-Time Applications, Integrating Causal AI with IoT for Real-Time Decision Making), and challenges (Complexity of Causal Model Development and Interpretability, Data Quality and Availability for Causal Inference).
• Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product & service launches in the Causal AI market.
• Market Development: Comprehensive information about lucrative markets - the report analyses the Causal AI market across varied regions.
• Market Diversification: Exhaustive information about new products & services, untapped geographies, recent developments, and investments in the Causal AI market.
• Competitive Assessment: In-depth assessment of market shares, growth strategies and service offerings of leading players like IBM (US), Google (US), Microsoft (US), Dynatrace (US), Cognizant (US), Logility (US), Datarobot (US), CausaLens (UK), Aitia (US), Taskade (US), Causely (US), Causaly (UK), Causality Link (US), Xplain data (Germany), Parabole.AI (US), Datma (US), Incrmntl (Israel), Scalnyx (France), Geminos (US), Data Poem (US), CausaAI (Netherlands), Causa (UK), Lifesight (US), Actable AI (UK), biotx.ai (Germany), Howso (US), VELDT (Japan), and CML Insight (US) among others in the Causal AI market. The report also helps stakeholders understand the pulse of the Causal AI market and provides them with information on key market drivers, restraints, challenges, and opportunities.

Key Attributes:

Report Attribute	Details
No. of Pages	332
Forecast Period	2024 - 2030
Estimated Market Value (USD) in 2024	$56.2 Million
Forecasted Market Value (USD) by 2030	$456.8 Million
Compound Annual Growth Rate	41.8%
Regions Covered	Global

Companies Featured

• Google
• IBM
• Microsoft
• Dynatrace
• Cognizant
• Logility
• Datarobot
• Causalens
• Data Poem
• Lifesight
• Aitia
• Causaly
• Causality Link
• Taskade
• Causely
• Xplain Data
• Parabole.AI
• Datma
• Incrmntal
• Scalnyx
• Geminos
• Causai
• Causa
• Actable AI
• Biotx.AI
• Howso
• Veldt
• Cml Insight

For more information about this report visit https://www.researchandmarkets.com/r/h7bko8

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