IDC Forecasts Revenue for Artificial Intelligence Software Will Reach $307B Worldwide in 2027
Summary
IDC Forecasts Revenue for Artificial Intelligence Software Will Reach $307B Worldwide in 2027 NEEDHAM, Mass., Dec. 4, 2023 — A recent forecast from International Data Corporation (IDC) shows that the worldwide artificial intelligence (AI) software market will grow from $64 billion in 2022 to nearly $251 billion in 2027 at a compound annual growth rate (CAGR) of 31.4%. “The momentum behind investments in AI and automation technologies remains unwavering despite economic uncertainty and shifting market dynamics. Businesses are realizing that utilizing cutting-edge technology is not only a strategic necessity but also a crucial factor in achieving long-term success. The AI SIS category benefits from its integration with existing software systems, allowing organizations to derive valuable insights from vast amounts of data to make informed decisions and optimize operations. With more than 1,300 analysts worldwide, IDC offers global, regional, and local expertise on technology, IT benchmarking and sourcing, and industry opportunities and trends in over 110 countries.