Artificial Intelligence Advisory Service Market - Global Industry Research Analysis

According to Market Research Store, the global artificial intelligence advisory service market size was valued at around USD 11.90 billion in 2023 and is estimated to reach USD 114.47 billion by 2032, to register a CAGR of approximately 28.60% in terms of revenue during the forecast period 2024-2032.

To Get more Insights, Request a Free Sample

The artificial intelligence advisory service report provides a comprehensive analysis of the market, including its size, share, growth trends, revenue details, and other crucial information regarding the target market. It also covers the drivers, restraints, opportunities, and challenges till 2032.

Global Artificial Intelligence Advisory Service Market: Overview

Artificial Intelligence (AI) advisory services are specialized consulting offerings that help organizations design, implement, and optimize AI strategies and technologies to solve business challenges.

These services guide companies through the process of integrating AI into their operations, covering aspects such as AI strategy development, data analytics, machine learning model deployment, automation, and predictive analytics. AI advisory firms provide expertise on the best AI tools and practices, ensuring that businesses can harness AI effectively to improve decision-making, customer experience, and operational efficiency.

The market for AI advisory services is expanding rapidly as businesses increasingly recognize the value of AI in driving digital transformation and enhancing competitive advantage.

The adoption of AI technologies such as machine learning, natural language processing (NLP), and automation is becoming more common across various industries, including healthcare, finance, manufacturing, and retail. This trend is driving the demand for AI consulting services, as organizations seek expert guidance to navigate the complexities of AI implementation.

Key Highlights

• The artificial intelligence advisory service market is anticipated to grow at a CAGR of 28.60% during the forecast period.
• The global artificial intelligence advisory service market was estimated to be worth approximately USD 11.90 billion in 2023 and is projected to reach a value of USD 114.47 billion by 2032.
• The growth of the artificial intelligence advisory service market is being driven by rising need for personalized customer experiences, the growing availability of big data, and the push for operational efficiency through automation.
• Based on the type, the support & maintenance segment is growing at a high rate and is projected to dominate the market.
• On the basis of application, the BFSI and healthcare segment is projected to swipe the largest market share.
• By region, North America is the leading region in the AI advisory services market due to the strong presence of technology companies and widespread adoption of AI solutions in industries like finance and healthcare.

Artificial Intelligence Advisory Service Market: Dynamics

Key Growth Drivers

• Increasing adoption of AI technologies: The growing awareness and adoption of AI across various industries are driving the demand for expert advice and guidance.
• Complexities of AI implementation: Implementing AI solutions can be complex, requiring specialized knowledge and expertise. This is driving the demand for AI advisory services.
• Need for ethical and responsible AI: As AI becomes more prevalent, there is a growing emphasis on ethical and responsible AI development and deployment. AI advisory services can help organizations navigate these complexities.
• Growing focus on data-driven decision-making: Businesses are increasingly relying on data analytics to make informed decisions. AI advisory services can help organizations leverage AI to extract valuable insights from their data.

Restraints

• High costs: Hiring AI consultants or implementing AI advisory services can be expensive, especially for smaller organizations.
• Lack of skilled professionals: There is a shortage of skilled professionals with expertise in AI, which can limit the availability of quality advisory services.
• Data privacy and security concerns: The use of AI involves handling sensitive data, raising concerns about data privacy and security.
• Resistance to change: Organizations may face resistance to adopting AI technologies due to concerns about job displacement or disruption of existing processes.

Opportunities

• Expanding applications in various industries: AI advisory services can be applied to a wide range of industries, including healthcare, finance, manufacturing, and retail.
• Integration with other technologies: AI can be integrated with other emerging technologies, such as IoT and blockchain, to create innovative solutions.
• Development of new AI advisory services: The development of new AI advisory services, such as AI ethics consulting or AI talent development, can create new market opportunities.
• Growing demand for personalized AI solutions: Organizations are seeking personalized AI solutions tailored to their specific needs and goals.

Challenges

• Market volatility: The market for AI advisory services can be subject to fluctuations due to economic conditions, technological advancements, and changes in regulatory requirements.
• Competitive landscape: The market is competitive, with numerous players offering AI advisory services.
• Technological advancements: The rapid pace of technological advancements can make it difficult for AI advisory firms to keep up with the latest innovations and maintain a competitive edge.
• Regulatory compliance: Adherence to data privacy regulations, ethical guidelines, and industry standards can be complex and costly for AI advisory firms.

Artificial Intelligence Advisory Service Market: Segmentation Insights

The global artificial intelligence advisory service market is divided by type, application, and region.

Segmentation Insights by Type

Based on Type, the global artificial intelligence advisory service market is divided into installation, training & support, customization, application integration, and support & maintenance.

The Support & Maintenance segment plays a vital role in the long-term success of AI implementations, ensuring that AI systems continue to function effectively and deliver value over time. The Support & Maintenance segment represents a critical component of the AI advisory service market. As AI systems require ongoing attention to function effectively, businesses increasingly rely on external service providers to ensure smooth operation.

However, Training & Support and Application Integration are also growing in importance as businesses seek to integrate AI into their operations and upskill their workforce to use these systems effectively. The Training & Support segment is essential in the AI advisory service market, particularly as organizations increasingly adopt AI but may lack the internal expertise to operate these systems.

Demand for AI training services is growing as businesses seek to leverage AI effectively. The Application Integration segment is critical for companies looking to maximize the impact of AI by ensuring that it integrates smoothly with other business applications. As AI becomes more prevalent across various sectors, the need for integration services continues to grow.

Segmentation Insights by Application

On the basis of Application, the global artificial intelligence advisory service market is bifurcated into healthcare, BFSI, construction, energy & utilities, government & defense, IT & telecommunications, manufacturing, retail & e-commerce, and others.

The BFSI sector is one of the largest adopters of AI advisory services, particularly as banks and financial institutions increasingly focus on digital transformation, cybersecurity, and data-driven decision-making. The BFSI sector utilizes AI for fraud detection, risk management, customer service, and personalized financial products.

In the Healthcare sector, AI advisory services are crucial for implementing AI tools that enhance diagnostics, patient care, operational efficiency, and research. The healthcare sector is rapidly adopting AI, driven by the need for better patient outcomes, cost reduction, and more efficient use of data. AI advisory services are in high demand for training healthcare professionals, integrating AI with existing healthcare systems, and ensuring compliance with regulations like HIPAA.

However, AI adoption in the manufacturing sector is growing, particularly as companies seek to improve productivity, reduce operational costs, and enhance supply chain management. AI advisory services are essential for successful AI integration in industrial settings. Retail and e-commerce are rapidly embracing AI to stay competitive in a digital marketplace. AI advisory services are crucial for helping retailers optimize customer interactions, supply chain management, and personalized shopping experiences.

Artificial Intelligence Advisory Service Market: Report Scope

Artificial Intelligence Advisory Service Market: Regional Insights

• North America is expected to dominate the global market during the forecast period

North America leads the global AVM and MOD market, driven by high demand for luxury vehicles and advanced safety systems, especially in countries like the U.S. and Canada. The region is also experiencing rapid adoption of Advanced Driver Assistance Systems (ADAS) in both passenger and commercial vehicles, which is fueling the market growth. Increasing vehicle production, consumer preference for enhanced safety features, and government regulations mandating safety technologies in vehicles are the primary factors boosting market expansion​.

The Asia-Pacific market is projected to grow at a rapid pace, driven by rising automotive production and increasing consumer awareness of vehicle safety. Countries like China, Japan, and South Korea are major contributors to this growth due to strong automotive industries and technological advancements. Increasing adoption of safety features in mid-range and economy vehicles, along with a surge in the sales of electric vehicles (EVs), are key contributors to the growth of AVM systems in this region.

Europe is another significant market, where countries like Germany, France, and the UK are leading the adoption of AVM and MOD systems. The region's strong automotive industry, especially in luxury and premium car segments, along with stringent vehicle safety regulations, are propelling the market. High consumer demand for advanced safety features and the presence of leading automotive manufacturers are key to market growth in Europe.

South America and Middle East & Africa (MEA) are smaller in comparison, these regions are seeing increasing adoption of AVM and MOD systems, particularly in Brazil, Saudi Arabia, and the UAE. As the automotive industry continues to grow in these regions, the market for advanced safety features is expected to expand. Higher costs of advanced systems and economic challenges in some countries may slow down the growth, but there are opportunities for expansion as vehicle safety becomes a priority.

Artificial Intelligence Advisory Service Market: Competitive Landscape

The report provides an in-depth analysis of companies operating in the artificial intelligence advisory service market, including their geographic presence, business strategies, product offerings, market share, and recent developments. This analysis helps to understand market competition.

Some of the major players in the global artificial intelligence advisory service market include:

• Accenture PLC
• Amazon Web Services (AWS)
• Baidu
• Booz Allen Hamilton Inc.
• Boston Consulting Group (BCG)
• Capgemini SE
• Cognizant Technology Solutions
• Deloitte Touche Tohmatsu Limited
• EY
• FICO
• Fujitsu Limited
• Google LLC
• HP
• IBM Corporation
• Infosys Limited
• Intel
• KPMG International
• McKinsey & Company
• Microsoft Corporation
• Oracle Corporation
• PwC
• Salesforce
• SAP SE
• SAS Institute
• TCS

The global artificial intelligence advisory service market is segmented as follows:

By Type

• Installation
• Training & Support
• Customization
• Application Integration
• Support & Maintenance

By Application

• Healthcare
• BFSI
• Construction
• Energy & Utilities
• Government & Defense
• IT & Telecommunications
• Manufacturing
• Retail & E-Commerce
• Others

By Region

• North America
  • U.S.
  • Canada
• Europe
  • U.K.
  • France
  • Germany
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Rest of Latin America
• The Middle East and Africa
  • GCC Countries
  • South Africa
  • Rest of Middle East Africa

Frequently Asked Questions