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AI Revolutionizing Industries: Market Set for 39.7% CAGR Growth, Reaching $1.1 Trillion by 2029

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“From Healthcare and Life Sciences to Oil & Gas and Diagnostics, BCC Research Highlights How AI is Transforming Industries, Enhancing Efficiency, and Accelerating Breakthroughs”

BOSTON, Feb. 7, 2025 /PRNewswire/ — AI is the new trend in the market, making a significant impact across various sectors. It’s not just a buzzword; AI is revolutionizing how industries operate. By boosting efficiency, speeding up discoveries, and ultimately saving lives, AI is proving to be a game-changer. According to BCC Research, AI is leaving a lasting mark on industries from healthcare and life sciences to oil and gas and diagnostics. The global AI market is expected to grow from $148.8 billion in 2023 to $1.1 trillion by the end of 2029 at a compound annual growth rate (CAGR) of 39.7%. Let’s explore some of these transformative impacts and see how AI shapes a promising future for all of us.

Global Artificial Intelligence (AI) Market: Investments vs Potential
The global AI market is expected to grow from $148.8 billion in 2023 to $1.1 trillion by the end of 2029 at a CAGR of 39.7%. AI’s potential is vast, revolutionizing customer experiences, streamlining operations, and automating decision-making. Companies invest in AI to increase efficiency, reduce costs, and foster innovation.

Core Findings: AI has the potential to significantly accelerate technological advances in the coming years. For example, although designing computer chips is a complex and lengthy process for humans, taking months, AI can revolutionize this field by completing the task in under six hours.

Emerging Startups: UiPath, DataRobot, Sift

Artificial Intelligence (AI) in the Life Sciences Market
Artificial intelligence is redefining healthcare and research in life sciences by processing massive data sets with unprecedented accuracy. The AI market in life sciences is expected to grow from $9.8 billion in 2024 to $33.5 billion by the end of 2029 at a CAGR of 27.9%.

Core Findings: AI is revolutionizing healthcare by accelerating drug discovery, tailoring treatments through genetic analysis, and enhancing medical imaging for better diagnoses. It detects early disease patterns with machine learning (ML), streamlines research with virtual clinical trials, and generates new drug candidates, making development faster and more efficient.

Emerging Startups: BenevolentAI, Recursion Pharmaceuticals, Zebra Medical Vision

Artificial Intelligence (AI) in Clinical and Molecular Diagnostics Market
The integration of AI in clinical and molecular diagnostics is about to enhance patient care globally. The market will grow from $2.6 billion in 2024 to $8.9 billion by the end of 2029 at a CAGR of 27.6%.

Core Findings: AI’s integration with genomics allows it to predict disease susceptibility from genetic data, potentially identifying health risks before any symptoms appear—something that was previously impossible.

Emerging Startups: Qure.ai, PathAI

Artificial Intelligence (AI) in Cancer
Artificial intelligence has made significant progress in oncology, aiding in early detection, personalized treatment, rapid drug development, and relapse prediction. The market for AI in cancer treatment is expected to grow from $2.2 billion in 2024 to $6.3 billion by the end of 2029, at a CAGR of 23.1%.

Core Findings: AI is increasingly used in cancer treatment to develop personalized therapies. AI models, including ML, deep learning, generative AI, and federated learning, are being developed by AI and biotech companies to aid in drug discovery. Additionally, AI is expected to play a significant role in diagnosis and supporting clinicians, oncologists, and radiologists in the coming years.

Emerging Startups: AzraAI, PathAI, Ezra, Therapixel

Artificial Intelligence (AI) in Oil and Gas: Global Markets and Technologies
Artificial intelligence may not be the first thing that comes to mind when considering the oil and gas industry, but its transformative impact is undeniable. The AI market in oil and gas is expected to grow from $2.8 billion in 2023 to $5.1 billion by the end of 2028 at a CAGR of 12.9%.

Core Findings: The oil and gas industry increasingly integrates AI with edge computing. By deploying edge servers at the network’s edge and combining them with AI platforms, the industry can leverage low-latency 5G applications and make real-time decisions, significantly boosting operational efficiency.

Emerging Startups: Arundo Analytics, DeepIQ, C3.ai

Across sectors, AI is proving to be a game-changing force, shaping the future at lightning speed. Now is the time to innovate, adapt, and lead. AI will play a crucial role in shaping the future of business, healthcare, energy, and beyond.

Consider becoming a member of the BCC Research Library and gain access to our full catalog of market research reports in your industry. Not seeing what you are looking for? We offer custom solutions too, including our new product line: Custom Intelligence Services.

For further information on any of these reports or to make a purchase, please contact us at info@bccresearch.com.

About BCC Research

BCC Research market research reports provide objective, unbiased measurement, and assessment of market opportunities. Our experienced industry analysts’ goal is to help you make informed business decisions free of noise and hype.

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RTI International Congratulates DOE And Research Teams Advancing The Genesis Mission

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DOE announced selected research teams supporting the Genesis Mission278 projects selected by DOE to support Genesis Mission objectivesRTI supports the Mission through operation of the Genesis Mission Consortium

RESEARCH TRIANGLE PARK, N.C., July 23, 2026 /PRNewswire/ — RTI International, an independent scientific research institute, congratulates the U.S. Department of Energy and the research teams announced at the Genesis Mission Annual Summit in Washington, D.C. this week. The selections represent an important milestone in advancing the Genesis Mission’s vision for AI-enabled scientific discovery to advance energy, national security and global competitiveness.

The Genesis Mission is a national initiative that aims to double the productivity and impact of American research within a decade. It is designed to unite DOE national laboratories, industry, academia and other partners to harness artificial intelligence for breakthroughs in energy dominance, discovery science and national security. During the summit, DOE announced the selection of 342 participating institutions as award recipients whose projects will contribute to advancing the Genesis Mission’s objectives.

The summit brought together more than 650 participants, including researchers, agency leaders, members of Congress, scientific leaders and industry partners for plenary sessions, showcases and networking opportunities. The event served as a convening point for stakeholders working to advance the Genesis Mission’s vision and strengthen collaboration across the research, technology and innovation communities.

“RTI congratulates DOE and the award recipients announced at the Genesis Mission Annual Summit,” said Tim J. Gabel, president and CEO of RTI. “These recipients exemplify the collaborative spirit at the heart of the Genesis Mission and demonstrate the value of bringing together expertise, capabilities and resources from industry, academia and government to address some of the nation’s most important scientific and technological challenges.”

RTI operates the Genesis Mission Consortium via TechWerx, a DOE partnership intermediary. The consortium provides a mechanism for collaboration among researchers, national laboratories, universities and industry partners supporting the Genesis Mission.

“Through the Genesis Mission Consortium, we are connecting innovators with mission needs, strengthening pathways to adoption and ensuring scientific advances deliver practical benefits for national security. These connections accelerate convergence,” said Senior Director, Consortia Growth and Partnerships at RTI, Ivy Estabrooke, Ph.D.

The consortium brings together organizations from across the AI, computing and scientific research landscape, including cloud providers, AI developers, technology companies, research institutions and national laboratories. Current members include organizations such as Amazon Web Services, Google, IBM, Microsoft, NVIDIA and other leaders from industry and the national laboratory system.

Learn more about the Genesis Mission Consortium

About RTI International

RTI International is an independent scientific research institute dedicated to improving the human condition. Our vision is to address the world’s most critical problems with technical and science-based solutions in pursuit of a better future. Clients rely on us to answer questions that demand an objective and multidisciplinary approach—one that integrates expertise across social, statistical, data, and laboratory sciences, engineering, and other technical disciplines to solve the world’s most challenging problems. For more information, visit www.rti.org.

About TechWerx
TechWerx is a DOE supported innovation hub managed by RTI International through a Partnership Intermediary Agreement. The hub is dedicated to driving collaboration across the energy and national security ecosystems to accelerate the transition and impact of energy-focused science and technology solutions, ultimately enhancing America’s economic and energy security landscape. For more information visit, www.techwerx.org.

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RTI International
9195417300
419371@email4pr.com

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Linnworks Releases “Inside Peak” Report, Analyzing Peak Season Preparation Timelines

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New Data Reveals Peak Prep is Complete as Early as October, Tools and Catalogs Set Well Before Q4 Surge

LOUISVILLE, Ky., July 23, 2026 /PRNewswire/ — Linnworks, a leading provider of e-commerce inventory and order management software, today released Inside Peak, a new report that maps out when top-performing online sellers prepare for the Holiday peak and Black Friday rush.

“Peak is won in the weeks and months before Black Friday, not during it,” said Diana Nolting, Chief Product Officer, Linnworks. “Our data shows a clear, repeatable pattern: the sellers who come out ahead have their tools and catalogs locked in by October. A channel you’re still figuring out in November is a channel working against you when it matters most.”

Analyzing 207.2 million orders placed across 2025, worth $11.88 billion (£8.82 billion) in sales, alongside prep-behavior data spanning 2022 to 2025, the report gives retailers a benchmark to measure their own peak readiness against.

Evaluating order volume, sales value, and prep signals such as new tool integrations and catalog expansion from a subset of Linnworks’ global customers, the report identifies a consistent readiness window. Key findings include:

Demand Piles Into Q4: Q4 takes nearly a third of the year’s orders and 30.9% of its value ($3.68bn/£2.73bn), cresting at Black Friday. Order volume spikes while average basket size holds steady, even dipping slightly during the Black Friday and Christmas weeks, putting the pressure squarely on operations rather than order size.Tooling Decisions Happen Early: New integrations peak in October, nearly a fifth above the monthly average, then fall away sharply in November, as most sellers stop making changes and run on what they set up earlier in the year.Catalogs Expand Ahead of the Rush: Sellers add more new products to their catalogs in October than in any other month, finishing the listings they want live for peak well before the season begins.Channel Mix Multiplies Complexity: Average basket size ranges from about $17.50 (£13) on Temu to about $94.30 (£70) on Shopify, with Amazon’s high-volume orders near ($35) £26. Every channel shares the same Q4 timing, meaning sellers on more channels must meet more sets of expectations at full volume, in the same few weeks.Lead Time Is the Hidden Constraint: New tools take an average of 40 days to go live and settle, so sellers weighing an operational change close to peak are already working against the clock.

The report also features a self-assessment created to evaluate readiness for peak season. The full report is available to download here.

To learn more about Linnworks and its product offerings, please visit Linnworks.com.

About Linnworks
Linnworks is a Connected CommerceOps platform that gives 4000+ online retailers the power to connect, automate, and scale their e-commerce operations from a single source of truth. Our solution brings three core attributes to the retailer: connectivity to 100-plus marketplaces, automation to traditionally time-consuming e-commerce processes, and a centralized platform to manage listings, inventory, orders, and shipments.

Media Contact
Danna Tabachnik
419356@email4pr.com
(773) 453-2444

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Fraction Becomes DevHawk, Launching an AI Software Factory Companies Can Run Themselves or Hand Off Entirely

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More than a name change: the launch marks the company’s evolution from fractional engineering into a suite of specialized AI agents, directed by senior engineers, that build, run, and maintain software. DevHawk delivers it two ways, with deep experience across a range of industries.

ATLANTA, July 23, 2026 /PRNewswire/ — Fraction, which since 2022 has given 175 companies access to senior US engineers without the cost of building a team, today announced it has evolved into DevHawk, an AI software factory: a suite of specialist AI agents, directed by senior engineers, that build, run, and evolve the software a business depends on. Companies can have DevHawk operate the factory for them, or run the agents with their own team.

“We built Fraction on a belief I’ve bet my whole career on: leverage beats headcount,” said Praveen Ghanta, Founder and CEO of DevHawk. “Small, senior teams with the right tools outbuild big ones, and they grow profitably instead of bloating the org chart. It’s how I built and sold my last company. Same belief now, with a much bigger engine.”

The agents cover the full engineering lifecycle, spanning up to nine disciplines from product and architecture to QA, DevOps, and security. They don’t just write code; they test it, ship it, and keep it running in production. A single senior engineer directing the suite can do work that once required six to ten people, shipping up to 10x faster and at 80-90% less than a traditional team.

DevHawk offers firms two paths, and positions itself as a partner in both. In the managed model, DevHawk’s senior engineers operate the software factory on the client’s behalf. In the self-serve model, a company adds the agents it needs to its own team and runs them, with DevHawk handling onboarding, integration, and ongoing support.

“It’s the best engineers in the game, 10x’d by a suite of specialized AI agents,” said Ghanta. “Run it with us, or we customize the agents and then you run them yourself.”

Since launching the software factory, DevHawk has seen a sharp uptick in demand from traditionally non-technical industries, including construction, logistics, and healthcare. Its deepest roots are in wealth management and fintech, where getting software wrong is not an option. As off-the-shelf tools stop fitting how these businesses run, more are choosing to own their own software rather than keep renting something that doesn’t fit.

“For the first time, every company can afford software built exactly for how they work,” said Ghanta, “instead of bending their business around off-the-shelf tools.”

About DevHawk
DevHawk (formerly Fraction) is an AI software factory. The company helps businesses build, run, and maintain the software they depend on using a suite of specialized AI agents, run by the company’s own team or operated by DevHawk. DevHawk was founded by Praveen Ghanta, a multiple-time founder who previously built and sold the wealth-technology platform HiddenLevers to Orion. Founded as Fraction in 2022 and headquartered in Atlanta, the company has served more than 175 companies across dozens of industries. Learn more at https://www.devhawk.ai.

Media Contact
Ali Murphy • 419374@email4pr.com • 404.343.7747

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