The anticipated growth of AI technology sales globally will significantly surge, surpassing the double mark, by the year 2028.
The relentless expansion of Artificial Intelligence (AI) shows no signs of slowing down, as per a study. By 2028, the global revenue from this technology is projected to skyrocket to a staggering $1.27 trillion, according to a report released on Tuesday by consultancy firm Sopra Steria. In 2021, the market hit a value of $540 billion, witnessing an annual growth rate of 19%, which is three times faster than the overall IT sector.
Experts see tremendous possibilities in "AI for Humans" and "AI for Software". They forecast a threefold increase in the market for both sectors, reaching $380 billion and $170 billion respectively. The former category encompasses virtual assistants such as Microsoft's Copilot or OpenAI's ChatGPT, which are seeing significant growth in fields like financial services, healthcare, e-commerce, and media. "AI for Software" aids programmers in their tasks, offering tools that enable even non-experts to coding intricate software.
"AI for Processes" is expected to emerge as the largest segment by 2028, with an estimated market volume of approximately $390 billion. This segment primarily concentrates on automating business processes, but these programs can also be utilized for identifying anomalies and detecting fraud. The "AI for Machines" sector, predicted to reach $330 billion, is responsible for connecting industrial plants and analyzing the voluminous data they produce.
The worldwide interest in Artificial Intelligence (AI) is evident, with numerous industries worldwide embracing its potential. By 2028, the worldwide revenue from AI is projected to reach an unprecedented $1.27 trillion.
