The worldwide market revenue for artificial intelligence is forecast to grow from 2018 to 2027, although different studies suggest variations in just how much the global market size will increase by. The market research firm IDC projected that the global AI market will reach a size of over half a trillion U.S. dollars by 2024.
IBM’s position in the AI market
The current AI market race is led by IBM, which holds a global market share of more than nine percent. IBM is also the leading company in terms of active machine learning and AI patents worldwide with more than 5,500 patent families as of November 2020. Next to IBM in the global AI patent race are Microsoft and Samsung, each within 500 patent families from IBM.
AI startups
The enthusiasm in AI technologies and their applications worldwide is leading to a growing number of AI startup and kindling existing companies’ interest in the field. The number of AI startup acquisitions has increased steadily since 2010, growing by almost fourfold between 2015 and 2018. Increases in AI startup acquisitions have been met by increases in funding of AI startups - global funding increased from over a billion U.S. dollars in 2013 to 8.5 billion U.S. dollars in the first quarter of 2020 alone.
Market size and revenue comparison for artificial intelligence worldwide from 2018 to 2027
(in billion U.S. dollars)
IDC: Artificial intelligence systems, including hardware (server, storage), software (AI applications, AI software platforms, AI system infrastructure software, AI application development and deployment), and services (business services, IT services).
Tractica: B2B software opportunity related to AI, covering three major meta categories: vision, language and analytics.
Grand View Research: AI segments include hardware, software and services; technologies include deep learning, machine learning, natural language processing (NLP) and machine vision,
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Statista. (April 12, 2021). Market size and revenue comparison for artificial intelligence worldwide from 2018 to 2027 (in billion U.S. dollars) [Graph]. In Statista. Retrieved May 28, 2022, from https://www.statista.com/statistics/941835/artificial-intelligence-market-size-revenue-comparisons/
Statista. "Market size and revenue comparison for artificial intelligence worldwide from 2018 to 2027 (in billion U.S. dollars)." Chart. April 12, 2021. Statista. Accessed May 28, 2022. https://www.statista.com/statistics/941835/artificial-intelligence-market-size-revenue-comparisons/
Statista. (2021). Market size and revenue comparison for artificial intelligence worldwide from 2018 to 2027 (in billion U.S. dollars). Statista. Statista Inc.. Accessed: May 28, 2022. https://www.statista.com/statistics/941835/artificial-intelligence-market-size-revenue-comparisons/
Statista. "Market Size and Revenue Comparison for Artificial Intelligence Worldwide from 2018 to 2027 (in Billion U.S. Dollars)." Statista, Statista Inc., 12 Apr 2021, https://www.statista.com/statistics/941835/artificial-intelligence-market-size-revenue-comparisons/
Statista, Market size and revenue comparison for artificial intelligence worldwide from 2018 to 2027 (in billion U.S. dollars) Statista, https://www.statista.com/statistics/941835/artificial-intelligence-market-size-revenue-comparisons/ (last visited May 28, 2022)
