The global artificial intelligence market will reach $450 billion in 2022

The Artificial intelligence (IA) market value is expected to reach nearly $450 billion this year and maintain a year-over-year growth rate over the next 5 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 increase of 20.7% over the previous year, according to the International Data Company (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.

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The reality is that AI offers solutions to everything we’re facing right now.

“AI can be a source of acceleration digital transformation journeys, save money in times of skyrocketing inflation, and support automation efforts in times of labor shortages,” added Andsbjerg.

AI software accounted for the largest share of the overall AI market in 2021.

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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