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UK Artificial Intelligence Market Report by Solution (Hardware, Software, Services), Technology (Deep Learning, Machine Learning, Natural Language Processing (NLP), Machine Vision, Generative AI), Function (Cybersecurity, Finance and Accounting, Human Resource Management, Legal and Compliance, Operations, Sales and Marketing, Supply Chain Management), End-Use (Healthcare, BFSI, Law, Retail, Advertising and Media, Automotive and Transportation, Agriculture, Manufacturing), and Region 2024-2032
Report Format: PDF+Excel | Report ID: SR112024A24917
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UK Artificial Intelligence Market Overview:
The UK artificial intelligence market size reached USD 2.66 Billion in 2023. Looking forward, IMARC Group expects the market to reach USD 19.27 Billion by 2032, exhibiting a growth rate (CAGR) of 23.50% during 2024-2032. The growing implementation of policies, funding programs, and strategic initiatives by governing agencies, increasing adoption of AI technologies across various sectors, and rapid development of AI infrastructure are some of the factors propelling the growth of the market.
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Report Attribute
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Key Statistics
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|---|---|
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Base Year
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2023
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Forecast Years
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2024-2032
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Historical Years
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2018-2023
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| Market Size in 2023 | USD 2.66 Billion |
| Market Forecast in 2032 | USD 19.27 Billion |
| Market Growth Rate 2024-2032 | 23.50% |
UK Artificial Intelligence Market Trends:
Rising Adoption of AI Across Industries
The increasing adoption of AI technologies across various sectors is supporting the market growth in the UK. Industries, such as healthcare, retail, manufacturing, and financial services, are experiencing a rise in AI deployments to streamline operations, enhance customer experiences, and reduce costs. For example, the Health and Social Care Secretary announced in 2023 that the National Health Service (NHS) staff were given access to the latest AI technology for diagnosing and treating patients spontaneously. This AI diagnostic fund included the employment of AI tools to analyze chest X-rays, which is the most common method used to diagnose lung cancer. The retail sector has also witnessed increased AI adoption, with companies like Tesco utilizing AI-driven supply chain management and personalized customer experiences. UK supermarket giant Tesco announced in 2024 that it will use AI to present personalized purchasing opportunities to three million customers of its Clubcard loyalty program, providing them a chance to earn a maximum of £50 in Clubcard points.
Government Support and Policy Initiatives
Governing agencies are playing a significant role in facilitating the adoption of AI. In recent years, numerous policies, funding programs, and strategic initiatives have rolled out to support AI innovation and adoption across various sectors. For instance, in March 2023, the UK government announced a £1 billion investment to boost AI research and development (R&D). This initiative is aimed at ensuring the UK remains competitive in the global AI landscape and fostering partnerships between academia and industry. Furthermore, in 2024, the UK government assigned £110m to fasten the deployment of AI across the public sector. This initiative aimed to deliver on the government's ambition to deploy AI to create a leaner state while raising productivity, making vast efficiency savings, and enhancing the delivery of public services like healthcare, education, crime prevention, immigration, and the wider public administration.
Advancements in AI Technologies and Infrastructure
AI technologies and infrastructure are expanding quickly, bolstering the market growth in the UK. The field of machine learning (ML) is advancing rapidly, as are associated areas like natural language processing (NLP) and computer vision, making it possible for businesses to better leverage AI. Sparked with the advancement, several UK-based companies are planning to launch their innovative products related to AI. For example, in 2024, Amazon announced the launch of Rufus in the UK, which is an AI-powered shopping assistant capable of answering customer questions on shopping needs. Large cloud service providers are scaling up their UK facilities for AI workloads. Apart from this, advancements in AI software tools are lowering the barrier for AI adoption among businesses.
UK Artificial Intelligence Market News:
- June 2024: Salesforce chose London for its first AI center, which will be a physical space for fostering collaboration and bringing together industry experts, partners, and customers to advance AI innovation and provide upskilling opportunities.
- June 2024: LexisNexis launched its Lexis+ AI platform in the UK, which features conversational search, intelligent legal drafting, document upload capabilities, and insightful summarization. These capabilities are supported by state-of-the-art encryption and privacy maintaining features to protect sensitive data.
UK Artificial Intelligence Market Segmentation:
IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the country level for 2024-2032. Our report has categorized the market based on solution, technology, function, and end-use.
Solution Insights:
- Hardware
- Accelerators
- Processors
- Memory
- Network
- Software
- Services
- Professional
- Managed
The report has provided a detailed breakup and analysis of the market based on the solution. This includes hardware (accelerators, processors, memory, and network), software, and services (professional and managed).
Technology Insights:
- Deep Learning
- Machine Learning
- Natural Language Processing (NLP)
- Machine Vision
- Generative AI
A detailed breakup and analysis of the market based on the Technology have also been provided in the report. This includes deep learning, machine learning, natural language processing (NLP), machine vision, and generative AI.
Function Insights:
- Cybersecurity
- Finance and Accounting
- Human Resource Management
- Legal and Compliance
- Operations
- Sales and Marketing
- Supply Chain Management
The report has provided a detailed breakup and analysis of the market based on the function. This includes cybersecurity, finance and accounting, human resource management, legal and compliance, operations, sales and marketing, and supply chain management.
End-Use Insights:
- Healthcare
- Robot Assisted Surgery
- Virtual Nursing Assistants
- Hospital Workflow Management
- Dosage Error Reduction
- Clinical Trial Participant Identifier
- Preliminary Diagnosis
- Automated Image Diagnosis
- BFSI
- Risk Assessment
- Financial Analysis/Research
- Investment/Portfolio Management
- Others
- Law
- Retail
- Advertising and Media
- Automotive and Transportation
- Agriculture
- Manufacturing
- Others
A detailed breakup and analysis of the market based on the end-use have also been provided in the report. This includes healthcare (robot assisted surgery, virtual nursing assistants, hospital workflow management, dosage error reduction, clinical trial participant identifier, preliminary diagnosis, and automated image diagnosis), BFSI (risk assessment, financial analysis/research, investment/portfolio management, and others), law, retail, advertising and media, automotive and transportation, agriculture, manufacturing, and others.
Regional Insights:
- London
- South East
- North West
- East of England
- South West
- Scotland
- West Midlands
- Yorkshire and The Humber
- East Midlands
- Others
The report has also provided a comprehensive analysis of all the major regional markets, which include London, South East, North West, East of England, South West, Scotland, West Midlands, Yorkshire and The Humber, East Midlands, and Others.
Competitive Landscape:
The market research report has also provided a comprehensive analysis of the competitive landscape. Competitive analysis such as market structure, key player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided.
UK Artificial Intelligence Market Report Coverage:
| Report Features | Details |
|---|---|
| Base Year of the Analysis | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Units | USD Billion |
| Scope of the Report | Exploration of Historical Trends and Market Outlook, Industry Catalysts and Challenges, Segment-Wise Historical and Future Market Assessment:
|
| Solutions Covered |
|
| Technologies Covered | Deep Learning, Machine Learning, Natural Language Processing (NLP), Machine Vision, Generative AI |
| Functions Covered | Cybersecurity, Finance and Accounting, Human Resource Management, Legal and Compliance, Operations, Sales and Marketing, Supply Chain Management |
| End-Uses Covered |
|
| Regions Covered | London, South East, North West, East of England, South West, Scotland, West Midlands, Yorkshire and The Humber, East Midlands, and Others |
| Customization Scope | 10% Free Customization |
| Post-Sale Analyst Support | 10-12 Weeks |
| Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
Key Questions Answered in This Report:
- How has the UK artificial intelligence market performed so far and how will it perform in the coming years?
- What has been the impact of COVID-19 on the UK artificial intelligence market?
- What is the breakup of the UK artificial intelligence market on the basis of solution?
- What is the breakup of the UK artificial intelligence market on the basis of technology?
- What is the breakup of the UK artificial intelligence market on the basis of function?
- What is the breakup of the UK artificial intelligence market on the basis of end-use?
- What are the various stages in the value chain of the UK artificial intelligence market?
- What are the key driving factors and challenges in the UK artificial intelligence?
- What is the structure of the UK artificial intelligence market and who are the key players?
- What is the degree of competition in the UK artificial intelligence market?
Key Benefits for Stakeholders:
- IMARC’s industry report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the UK artificial intelligence market from 2018-2032.
- The research report provides the latest information on the market drivers, challenges, and opportunities in the UK artificial intelligence market.
- Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the UK artificial intelligence industry and its attractiveness.
- Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.
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