Artificial Intelligence Software Market to Reach $118.6 Billion in Annual Worldwide Revenue by 2025, According to Tractica

More than 300 AI Use Cases Will Contribute to Market Growth Across 30
Industries with the Strongest Opportunity in the Telecommunications,
Consumer, Automotive, Business Services, Advertising, and Healthcare
Sectors

BOULDER, Colo.–(BUSINESS WIRE)–lt;a href=”https://twitter.com/hashtag/ai?src=hash” target=”_blank”gt;#ailt;/agt;–The pace of growth for artificial intelligence (AI) 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 a new report from Tractica,
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,” says research director Aditya Kaul.

Tractica forecasts that global AI software revenue will increase from
$9.5 billion in 2018 to $118.6 billion by 2025. This forecast represents
a significant upgrade of Tractica’s previous projections, last published
in 3Q 2018, as a result of faster than anticipated market adoption in
several industries as well as an expansion in the number of use cases
currently active within the market.

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

  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.

About Tractica

Tractica, an Informa business, is a market intelligence firm that
focuses on emerging technologies. Tractica’s global market research and
consulting services combine qualitative and quantitative research
methodologies to provide a comprehensive view of the emerging market
opportunities surrounding Artificial Intelligence, Robotics, User
Interface Technologies, Advanced Computing, Connected & Autonomous
Vehicles, and Wearables & Digital Health. For more information, visit www.tractica.com
or call +1.303.248.3000.

Contacts

Clint Wheelock
+1.303.248.3000
[email protected]

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