Key Issue: How big is (are) the artificial intelligence market (s)?
Hardware Infrastructure
According to IDC, the global AI infrastructure market, including hardware, is expected to reach $30.5 billion by 2024, growing at a CAGR of 26.9% from 2020 to 2024.
Data Infrastructure
MarketsandMarkets predicts that the global big data market will grow from $138.9 billion in 2020 to $229.4 billion by 2025, at a CAGR of 10.6%.
The data annotation tools market is expected to reach $1.6 billion by 2025, according to Grand View Research.
Algorithms and Models
The deep learning market is projected to grow from $2.3 billion in 2020 to $18.2 billion by 2025, at a CAGR of 51.1%, as reported by MarketsandMarkets.
Gartner forecasts that by 2025, 10% of new enterprise applications will include explainable AI (XAI) capabilities.
Frameworks and Libraries
The global machine learning frameworks market is expected to grow from $5.7 billion in 2020 to $22.5 billion by 2025, at a CAGR of 31.6%, according to MarketsandMarkets.
Tools and Platforms
The AutoML market is projected to reach $14.5 billion by 2030, growing at a CAGR of 36.2% from 2020 to 2030, as reported by Allied Market Research.
Gartner predicts that by 2024, 75% of enterprises will shift from piloting to operationalizing AI, driving a 5x increase in streaming data and analytics infrastructures.
Applications and Use Cases
The global natural language processing (NLP) market is expected to grow from $10.2 billion in 2020 to $28.6 billion by 2026, at a CAGR of 18.7%, according to MarketsandMarkets.
The computer vision market is projected to grow from $10.9 billion in 2020 to $18.1 billion by 2025, at a CAGR of 10.7%, as reported by MarketsandMarkets.
Human-AI Interaction
The global conversational AI market is expected to grow from $4.2 billion in 2019 to $15.7 billion by 2024, at a CAGR of 30.2%, according to MarketsandMarkets.
The augmented reality (AR) market is projected to grow from $10.7 billion in 2020 to $72.7 billion by 2024, at a CAGR of 46.6%, as reported by IDC.
These market size estimates highlight the significant growth potential across various layers of the AI technology stack.
