According to Next Move Strategy Consulting the market for artificial intelligence (AI) is expected to show strong growth in the coming decade. Its value of nearly 100 billion U.S. dollars is expected to grow twentyfold by 2030, up to nearly two trillion U.S. dollars. The AI market covers a vast number of industries. Everything from supply chains, marketing, product making, research, analysis, and more are fields that will in some aspect adopt artificial intelligence within their business structures. Chatbots, image generating AI, and mobile applications are all among the major trends improving AI in the coming years.
Generative AI a growing market
In 2022, the release of ChatGPT 3.0 brought about a new awakening to the possibilities of generative artificial intelligence. A good understanding of this trend comes from observing the difference in interest in generative AI on Google, with interest growing rapidly from 2022 to 2023. It is to be expected that this interest will continue as both ChatGPT and others aim for updated chatbot versions in the future and further generative AI programs are in development.
Growing awareness in academia
AI has long been a fast-moving field, with specialists in academia having to keep up with rapid technological developments. Most specialist PhDs in North America, for example, go to work in the industrial sector, with barely half that number going to work in academia. Therefore, traditional academic writing on the topic of AI has consistently been behind the times, as the academic process takes time. A change in this trend can be observed as more and more publications on the topic come out.
FAQs
Artificial intelligence (AI) worldwide - statistics & facts
How big is the machine learning market in 2030? ›
The market size in the Machine Learning market is projected to reach US$204.30bn in 2024. The market size is expected to show an annual growth rate (CAGR 2024-2030) of 17.15%, resulting in a market volume of US$528.10bn by 2030.
How big is the AI market in 2025? ›
AI investment forecast to approach $200 billion globally by 2025.
What is the market size of the AI industry? ›
The global artificial intelligence (AI) market size was estimated at US$ 119.78 billion in 2022 and it is expected to hit US$ 1,591.03 billion by 2030 with a registered CAGR of 38.1% from 2022 to 2030. The North America artificial intelligence market was valued at USD 51 billion in 2021.
How big will the AI industry be in 2030? ›
Artificial Intelligence - Worldwide
The market size is expected to show an annual growth rate (CAGR 2024-2030) of 28.46%, resulting in a market volume of US$826.70bn by 2030.
How big is the technology market in 2030? ›
The global Technology market size was valued at USD 802.07 million in 2021 and is expected to expand at a CAGR of 25.73% during the forecast period, reaching USD 3168.13 million by 2030.
How big is the AI market in 2027? ›
Predicting global spending on AI software will surge from $124 billion in 2022 to $297 billion in 2027, Gartner forecasts the market will grow at a 19.1% compound annual growth rate in the next six years.
Will AI be a trillion dollar industry? ›
Generative AI to Become a $1.3 Trillion Market by 2032, Research Finds | Press | Bloomberg LP.
Where will AI be in the next 10 years? ›
What will AI look like in 10 years? AI is on pace to become a more integral part of people's everyday lives. The technology could be used to provide elderly care and help out in the home. In addition, workers could collaborate with AI in different settings to enhance the efficiency and safety of workplaces.
Who is the market leader in AI? ›
Largest AI companies by market cap as of May 2024:
Microsoft. Alphabet. NVIDIA. Meta Platforms (Facebook)
The global artificial intelligence market size was estimated at USD 196.63 billion in 2023 and is expected to reach USD 279.22 billion in 2024.
How big is the generative AI market? ›
It stood at just under 45 billion U.S. dollars at the end of 2023, nearly double the size of 2022.
What will AI be in 2050? ›
By 2050 robotic prosthetics may be stronger and more advanced than our own biological ones and they will be controlled by our minds. AI will be able to do the initial examination, take tests, do X-rays and MRIs, and make a primary diagnosis and even treatment.
Where will AI be in 2040? ›
Contrary to fears of AI replacing humans, the reality is one of collaboration and synergy. In 2040, workers no longer fear being replaced by robots; instead, they embrace AI as a powerful tool that enhances their capabilities and frees them up to focus on more creative and strategic tasks.
Will AI add $15 trillion to the world economy by 2030? ›
Feryal Ahmadi, Chief Operating Officer, DMCC, added: “With AI projected to add USD 15 trillion to the global economy by 2030, there is huge potential across the value chain to support wider economic growth.
How much will AI value creation by the year 2030 is about? ›
The McKinsey Global Institute estimates that AI/ML technologies could add as much as $13 trillion in global economic productivity by the year 2030.
Is machine learning a good career in 2025? ›
High demand and low supply
Demand is outpacing supply in machine learning, with the need for employees with relevant skills expected to grow by 71% between 2020 and 2025.
What is the market size growth of machine learning? ›
The global Machine Learning market is projected to reach US$ 140610 million by 2028 from an estimated US$ 21040 million in 2022, at a CAGR of 37.3% during 2023 and 2028.
