IDC: Spending on AI to Jump 19.6% in 2022
Summary
NEEDHAM, Mass.—The booming demand for artificial intelligence is expected to continue in 2022 and 2023, with a new IDC forecast predicting that worldwide revenues for the artificial intelligence (AI) market, including software, hardware, and services, will grow 19.6% year over year in 2022 to $432.8 billion and break the $500 billion mark in 2023. Advancements in language, voice and vision technologies, and multi-modal AI solutions are revolutionizing human efficiencies. Overall, AI plus human ingenuity is the differentiator for enterprises to scale and thrive in the era of compressed digital transformation." In terms of growth within the Software category, AI Platforms are expected to perform the best with a five-year CAGR of 34.6%. The IDC Worldwide Semiannual Artificial Intelligence Tracker provides spending data and vendor share for the global AI solutions market on a semi-annual basis.