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According to a report by Tractica the global AI software market revenue is expected to increase from US$9.5 billion in 2018 to US$118.6 billion by 2025.

Artificial Intelligence Software Market To Reach US$118.6 Billion By 2025

Artificial Intelligence Software Market To Reach US$118.6 Billion By 2025

According to a report by Tractica, titled “Artificial Intelligence Market Forecast”, the global artificial intelligence (AI) software market revenue is expected to increase from US$9.5 billion in 2018 to US$118.6 billion by 2025. The study includes market sizing, segmentation, and forecasts for 315 AI use cases distributed across 30 industries. The steady growth of the AI market in the consumer, enterprise, government and defence sectors can be observed as applications of AI technologies and solutions are becoming a reality.

“While the market is still a few years away from an inflection point for real growth, it is critical for both end users and solutions providers to identify the technologies and use cases where they want to invest in AI,” commented Aditya Kaul, research director at Tractica.

AI use cases covered by this report includes three main categories: vision, language and analytics. Vision and language represent the perceptive brain which aims to enhance speech and sight capabilities. While analytics represent the analytical brain which deals with extracting and processing raw data, using traditional machine learning techniques for example. Although analytics and big data are huge drivers of the AI market, pure analytics only represent 35 percent of revenue from AI use cases. In fact, the main driver of the market is actually language and vision use cases in combination with analytics, representing 65 percent of the revenue. New AI use cases in the manufacturing sector includes supply chain optimisation, human-robot collaboration, digital twins and robotic and machine vision enhancements.

 

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