Tractica: AI global software market revenue to reach $105.8B by 2025

Thursday August 23, 2018 0 comments Tags: Boulder, Tractica, Aditya Kaul, AI

BOULDER -- Global revenue from artificial intelligence (AI) software implementations will increase from $8.1 billion in 2018 to $105.8 billion by 2025, according to a new report from market intelligence firm Tractica.Tractica_logoUSE

And despite ongoing challenges, the commercial outlook for AI has never been stronger, the report notes.

The forecast represents a significant upgrade of Tractica’s previous projections, last published at the end of 2017, owing to the addition of new real-world use cases across multiple industries, as well as increased guidance for key use cases in several sectors.

Tractica forecasts that the top 10 industries in terms of AI adoption and spending between 2018 and 2025 will include:

  1. Telecommunications
    2. Consumer
    3. Advertising
    4. Business Services
    5. Healthcare
    6. Retail
    7. Automotive
    8. Legal
    9. Public Sector
    10. Insurance

“The types of challenges currently faced by the AI sector are to be expected as we move from a hype phase into a reality phase as part of the cycle of market development,” said Aditya Kaul, Tractica research director.

“Tractica sees these challenges as part of the maturity curve for AI, where the next few years will see a sobering of expectations, while the momentum around use cases and applications continues to build.”

Tractica’s report, “Artificial Intelligence Market Forecasts”, provides a quantitative assessment of the market opportunity for AI across the consumer, enterprise, and government sectors.

The report includes market sizing, segmentation, and forecasts for 294 AI use cases distributed across 30 industries, and 165 unique use cases. The market forecasts span the period from 2017 through 2025 and include segmentation by the six fundamental AI technologies: machine learning, deep learning, computer vision, natural language processing, machine reasoning, and strong AI.

Revenue forecasts are further segmented by software, hardware, and services, in addition to segmentation by world region.

An Executive Summary of the report is available for free download on the firm’s website.