Finding “reliable” data about the market size and forecasts for the Artificial Intelligence (AI) and Machine Learning (ML) sectors is not easy and can be expensive if you have to buy a commercial market report. However, there is quite a bit of free data out there which I have collated here. Creating AI and ML market stats is notoriously difficult depending on accuracy of models, assumptions and definitions. Forecasts need to be treated very cautiously. However, by looking through a range of estimates from different providers it should be possible to get a rough idea of how the AI and ML markets may look in the next few years. I have focused on providing links to the original sources where possible.
Feel free to contact me if I have missed anything and I’ll amend the list. (Updated 4 January 2023)
Title: Gartner Forecasts Worldwide Artificial Intelligence Software Market to Reach $62 Billion in 2022
Date: 22 November 2021
Author: Gartner
Summary: “Worldwide artificial intelligence (AI) software revenue is forecast to total $62.5 billion in 2022, an increase of 21.3% from 2021, according to a new forecast from Gartner, Inc.”
Graphic:
Title: Machine Learning Market Size, Share, Growth & Trends to 2029
Date: March 2022
Author: Fortune Business Insights
Summary: “The global machine learning (ML) market is expected to grow from $21.17 billion in 2022 to $209.91 billion by 2029, at a CAGR of 38.8% in forecast period.”
Graphic:
Link: https://www.fortunebusinessinsights.com/machine-learning-market-102226
Title: Artificial Intelligence Spending Grew 20.7% Worldwide in 2021
Date: 12 September 2022
Author: IDC
Summary: “Worldwide revenues for the artificial intelligence (AI) market, including software, hardware, and services for both AI centric and AI non-centric applications, totaled $383.3 billion in 2021, an increase of 20.7% over the prior year, according to the most recent International Data Corporation (IDC) Worldwide Semiannual Artificial Intelligence Tracker. IDC expects the AI market value will reach nearly $450 billion in 2022 and maintain a year-over-year growth rate in the high teens throughout the five-year forecast.”
Graphic:
Link: https://www.idc.com/getdoc.jsp?containerId=prUS49670122
Title: Worldwide Artificial Intelligence Software Forecast, 2022–2026
Date: August 2022
Author: IDC
Summary: “The AI software market grew rapidly during 2021, and with accelerated digital disruption, we expect this market to continue to grow over the forecast period. IDC forecasts the overall AI software market will approach $791.5 billion in revenue in 2025 at a CAGR of 18.4%, with the AI-centric part to approach $192.6 billion at a CAGR of 31.2% over the forecast period.”
Graphic: N/A
Link: https://www.idc.com/getdoc.jsp?containerId=US49571222