The International Data Corporation (IDC) has released a forecast for the global artificial intelligence (AI) market for the coming years: the industry expects robust growth despite the ongoing pandemic and economic challenges.
IDC data takes into account the supply of software and hardware solutions in the field of AI, as well as the cost of all kinds of services in the relevant area.
It is noted that software is currently the largest segment of the global market. Software accounted for approximately 88% of total AI spending in 2020. The share of hardware solutions was about 5%. The remainder of the costs fell on related services.
In general, the volume of the global AI market at the end of last year amounted to about $ 281.4 billion.This year, growth is projected by 16.4%: if these expectations are justified, expenses will reach $ 327.5 billion.
Over the next five years, the CAGR (compound annual growth rate) in the designated area, according to IDC experts, will be at 17.5%. As a result, in 2024 the market will overcome the symbolic milestone of $ 500 billion, reaching a volume of $ 554.3 billion.
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