IDC: It is expected that the global AI software market size will reach 279 billion US dollars by 2027

On November 2nd, according to the latest report from market analysis firm IDC, the global AI software market size in 2022 was $64 billion, and is expected to increase to $279 billion by 2027, with a compound annual growth rate (CAGR) of 31.4%

On November 2nd, according to the latest report from market analysis firm IDC, the global AI software market size in 2022 was $64 billion, and is expected to increase to $279 billion by 2027, with a compound annual growth rate (CAGR) of 31.4%.

Among them, the revenue of the Generative AI (GenAI) platform and applications will reach $28.3 billion in 2027.

Raghunandhan Kuppuswamy, Research Manager for Artificial Intelligence and Automation at IDC, said, "Enterprises realize that leveraging cutting-edge technology is not only a strategic necessity, but also a key factor for achieving long-term success. Despite potential challenges and risks, companies believe that adopting AI is still crucial for future business operations and maintaining a leading position in competition

Based on the current situation, the highest proportion of AI software is AI applications, accounting for approximately one-third of the total market revenue in 2023. This category includes collaboration, content workflow and management, enterprise resource management (ERM), supply chain management, production and operations, engineering, and customer relationship management (CRM) applications. The compound annual growth rate of AI application category in the next 5 years is 21.1%.

Based on 2023 revenue, the second largest category is AI platforms. The AI platform has achieved the second highest growth rate (compound annual growth rate of 35.8%) during the forecast period from 2023 to 2027, making it the largest revenue category in most forecasts. The AI platform has promoted the development of AI models and applications, such as intelligent assistants that can mimic human cognitive abilities.

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