The global AI in omics studies market size is expected to reach US$ 4,515.4 Mn by 2030, from US$ 639.8 Mn in 2023, exhibiting a compound annual growth rate (CAGR) of 32.2% during the forecast period.
Global AI in Omics Studies Market- Trends
As businesses embrace cloud-based tools and remote work enabled by technologies like cloud-hosted virtual meeting solutions, the demand for reliable and secure cloud infrastructure has also increased tremendously. To meet this demand, major cloud service providers like Amazon Web Services, Microsoft Azure and Google Cloud have been significantly expanding their data center presence globally. For example, Amazon Web ServicesCloud computing company,announced plans in late 2021 to invest US$5 billion in building 15 new data center regions worldwide by 2026. This rapid data center expansion allows cloud providers to reduce latency and better support customers across the world, attracting even more businesses to their platforms.
The growing adoption of cloud-based solutions by enterprises is creating a huge market opportunity for independent software vendors and cloud technology startups. More companies are developing cloud-native applications and workflows that are easy to deploy, manage and update in the cloud. This has driven strong investment and innovation in areas like serverless computing, containers, cloud storage, collaboration tools, cybersecurity, AI/ML, and more. The pandemic has accelerated this shift towards cloud-enabled digital transformation across all industries.
The integration of AI and IoT is also opening new opportunities through hyper-automation. Real-time data from connected devices can power automated decision making and workflows. Blockchain's ability to securely share data across organizational silos further enhances the potential of AI and IoT collaborations. When devices, systems, and trading partners can reliably transact, interact, and validate transactions in an automated manner, it drives efficiencies. For instance, blockchain and AI-powered smart contracts are streamlining supply chain processes for automakers like Ford by digitally tracking parts from suppliers. This is reducing paperwork and improving visibility into inventory levels.
Figure 2. Global AI in Omics Studies Market Share (%), By Offering, 2023
Global AI in Omics Studies Market- Recent Developments
Global AI in Omics Studies Market Report Snapshots
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