The worldwide revenue for AI software will reach $307 billion in 2027, according to IDC. The forecast for AI-centric software includes Artificial Intelligence Platforms, AI Applications, AI System Infrastructure Software, and AI Application Development and Deployment software.
It does not include Generative AI platforms and applications, which IDC recently forecast will generate revenues of $55.7 billion in 2027.
A recent IDC survey found that, in the next 12 months, roughly a third of respondents believe that organizations will prefer to buy AI software from a vendor or use in-house support alongside vendor-supplied AI software for specific use cases or application areas.
This indicates a growing demand for AI solutions and highlights the need for customized approaches based on individual business requirements.
The category includes collaborative, content workflow and management, enterprise resource management, supply chain management, production and operations, engineering, and customer relationship management applications.
Revenue growth in the AI Applications category will trail the overall market with a five-year CAGR of 21.1%. The second largest category in terms of 2023 revenue is Artificial Intelligence Platforms.
With the second fastest growth rate over the 2023-2027 forecast period, AI Platforms will be the largest revenue category for most of the forecast.
AI Platforms facilitate the development of artificial intelligence models and applications, such as intelligent assistants that can mimic human cognitive abilities.
The two smallest categories - AI Systems Infrastructure Software and AI Application Development and Deployment software - will both grow revenues faster than the overall market with five-year CAGRs of 32.6% and 38.7%, respectively.
The AI SIS category benefits from its integration with existing software systems, allowing organizations to derive valuable insights from vast amounts of data to make informed decisions and optimize operations.
The AI AD&D category includes analytics and business intelligence software, data management, integration and orchestration, application development, software quality and life-cycle software, and application platforms.
This Cyber News was published on www.helpnetsecurity.com. Publication date: Fri, 29 Dec 2023 04:43:04 +0000