Tractica: AI software market to reach $118.6B globally by 2025

Thursday May 2, 2019 0 comments Tags: Boulder, artificial intelligence, Aditya Kaul

BOULDER -- Global artificial intelligence software revenue will increase from $9.5 billion in 2018 to $118.6 billion by 2025, according to a new report from Tractica.Tractica_logoUSE

The report notes that the pace of growth for artificial intelligence within the consumer, enterprise, government, and defense sectors continues unabated as use cases start to solidify and companies move from talking about AI to deploying and building solutions.

The conversation is moved away from “How does one define AI?” to “What are the main challenges for deploying and scaling AI?” According to Tractica’s report, the global AI market is entering a new phase where the narrative is shifting from hype to 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,” said Tractica research director Aditya Kaul.

The market intelligence firm forecasts that the top 10 industries in terms of AI spending between 2018 and 2025 will be:

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

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

The study includes market sizing, segmentation, and forecasts for 315 AI use cases distributed across 30 industries. Since the last iteration of this report, Tractica has added 21 new use cases spread across multiple industries, including energy, manufacturing, retail, consumer, transportation, public sector, media and entertainment, telecommunications, and insurance.

Global market forecasts, segmented by hardware, software, services, technology, geography, revenue type, and meta-category, extend through 2025.

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