IDC predicts a rapid growth in the global generative AI market
Author - Mansur Ismagulov
The Tech AI
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According to IDC estimates, global spending on generative AI will exceed $19.4 billion in 2023. In 2024, the market will grow more than twofold to $40 billion. By 2027, spending on generative AI will account for approximately 29% of total spending in the artificial intelligence market.
According to estimates by International Data Corporation, global spending on generative AI in 2023 will exceed $19.4 billion. This figure includes expenditures on software in the relevant field, infrastructure solutions, as well as IT and business services.
According to IDC, the global generative AI market is expected to more than double in 2024 compared to 2023: if this forecast proves accurate, spending will reach $40 billion. Overall, by 2027, spending on generative AI will account for approximately 29% of total AI market expenditures.
Source: 3dnews
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