Experts of the analytical company studied the situation in the market of solutions in the field of artificial intelligence (AI) and published a forecast according to which revenues in this market, including software, equipment and services, in 2021 will grow by 15.2% and reach 341.8 billion dollars. Moreover, it is predicted that the market will continue to accelerate in the coming years. In 2022, growth will be 18.8%, and by 2024, the $ 500 billion mark will be taken.
Among the three categories, software accounts for 88% of the total AI market. However, in terms of growth, the hardware category is in a better position, and it is estimated to grow faster in the coming years. However, already in 2023, AI services will become the fastest growing category.
The market for AI services in 2020 was $ 19.4 billion. Growth is projected for the current year at 19.3%, and the CAGR for the next five years is forecast at 21%. Analysts distinguish two segments in this category: IT services and business services. The first of them is much larger than the second. It now accounts for almost 80% of all revenue in the service category. At the same time, both segments are similar in terms of growth. Both of them are projected to grow at a five-year CAGR of 21%. Overall, the AI ​​services market is expected to reach $ 50 billion by 2025.
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