The specialists of the analytical company studied the situation on the market of solutions in the field of artificial intelligence (AI) and published a forecast.
Revenues in this market, which includes software, hardware and services, will grow by 15.2% in 2021 and reach $ 341.8 billion. Moreover, it is predicted that the market will continue to accelerate in the coming years. In 2022, the growth will be 18.8%, and by 2024, the mark of $ 500 billion will be taken.
Among the three categories, software occupies 88% of the entire AI market. However, in terms of growth, the hardware category is in a more advantageous position, which is estimated to grow faster in the coming years. However, in 2023, AI services will become the fastest growing category.
The AI services market in 2020 amounted to $ 19.4 billion. For the current year, growth is projected at 19.3%, and the average annual growth rate in the next five years is projected at 21%. Analysts distinguish two segments in this category: IT services and business services. The first of them is much larger than the second. Now it accounts for almost 80% of all revenue in the services category. At the same time, both segments are similar in terms of growth. For both of them, a five-year average annual growth rate of 21% is projected. In general, it is expected that the AI services market will reach $ 50 billion by 2025.
