artificial intelligence: the global artificial intelligence market will reach 450 billion dollars in 2022

The market value of artificial intelligence (AI) is expected to reach nearly $450 billion this year and maintain a year-over-year growth rate over the next five years, according to a new report.

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.

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