artificial intelligence: the global artificial intelligence market will reach 450 billion dollars in 2022
In 2021, the global AI market revenue, including software, hardware and services for AI-centric and non-AI-centric applications, reached $383.3 billion, a 20.7% increase over the previous year, according to the International Data Corporation. (IDC).
“Across all industries and functions, end-user organizations are discovering the benefits of AI technologies as increasingly powerful AI solutions enable better decision-making and increased productivity,” said Rasmus Andsbjerg, Associate Vice President, Data & Analytics at IDC.
The reality is that AI offers solutions to everything we’re facing right now.
“AI can be a source of accelerating digital transformation journeys, enabling cost savings in times of sky-high inflation rates, and supporting automation efforts in times of labor shortages,” said added Andsbjerg.
AI software accounted for the largest share of the overall AI market in 2021.
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The four categories of AI software – AI Application Delivery and Deployment, AI Applications, AI System Infrastructure Software, and Artificial Intelligence Platforms – have generated more than $340 billion in value market in 2021, with AI applications accounting for almost half of the total.
Artificial intelligence platforms saw the strongest year-over-year growth at 36.6%, albeit from a smaller baseline.
With nearly 300 companies vying for market share, the AI application market remains highly competitive, the IDC said.
The AI services market saw its total value increase by 22.4% year-over-year to reach $24 billion in 2021.
AI hardware was both the smallest segment ($18.8 billion) and the fastest growing segment (38.9% year-over-year growth) of the the AI.