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AI Software Market Projected to Reach $62B in 2022

STAMFORD, Conn. — The global artificial intelligence (AI) software market is predicted to total $62.5 billion in 2022, a 21.3% year-over-year increase. The AI software market encompasses applications with AI embedded in them, such as computer vision software, as well as software that is used to build AI systems, according to the market research firm […]

Written By

Chris Ehrlich

Dec 6, 2021

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STAMFORD, Conn. — The global artificial intelligence (AI) software market is predicted to total $62.5 billion in 2022, a 21.3% year-over-year increase.

The AI software market encompasses applications with AI embedded in them, such as computer vision software, as well as software that is used to build AI systems, according to the market research firm Gartner last month.

The top five use case categories for AI software spending in 2022 will be knowledge management, virtual assistants, autonomous vehicles, digital workplace, and crowdsourced data, Gartner said.

The forecast is based on use cases, measuring the amount of potential business value, timing of business value, and risk to project how use cases will grow.

See more: The Artificial Intelligence Market

Global AI Software Market Forecast by Use Case, 2021-2022

(Millions of U.S. dollars)

Segment	2021 Revenue	2021 Growth (%)	2022 Revenue	2022 Growth (%)
Knowledge Management	5,466	17.6	7,189	31.5
Virtual Assistants	6,210	12.0	7,123	14.7
Autonomous Vehicles	5,703	13.7	6,849	20.1
Digital Workplace	3,593	13.7	4,309	20.0
Crowdsourced Data	3,483	13.6	4,171	19.8
Others	27,049	14.1	32,827	21.4
Total	51,503	14.1	62,468	21.3

(Source: Gartner)

See more: Artificial Intelligence: Current and Future Trends

“The AI software market is picking up speed, but its long-term trajectory will depend on enterprises advancing their AI maturity,” said Alys Woodward, senior research director, Gartner.

“Successful AI business outcomes will depend on the careful selection of use cases. Use cases that deliver significant business value, yet can be scaled to reduce risk, are critical to demonstrate the impact of AI investment to business stakeholders.”

Immature AI

Demand for AI technologies is closely tied to organizational AI maturity levels.

Enterprises have a strong interest in AI, with 48% of CIOs saying that they have already deployed or plan to deploy AI and machine learning (ML) technologies within the next 12 months, according to the 2022 Gartner “CIO and Technology Executive Survey.”

Yet, organizations struggle to make AI technology part of their standard operations, Gartner said.

It will take until 2025 for half of organizations worldwide to reach the “stabilization stage” of AI maturity or beyond.

The report by Gartner is available to clients: “Forecast Analysis: Artificial Intelligence Software, Worldwide.”

See more: Top Performing Artificial Intelligence Companies

Chris Ehrlich

Chris Ehrlich is the managing editor of several web properties in the TechnologyAdvice network. He has over 20 years of experience delivering content-based results across journalism and communications, including on B2B technologies. As a leader in digital journalism, he’s driven targeted content that resonates with audiences and increases key metrics. As a leader in branded communications, he’s driven multi-channel content for clients that spreads their messages and generates measurable returns. He holds a B.A. in English and political science from Denison University in Ohio.

AI Software Market Projected to Reach $62B in 2022

Global AI Software Market Forecast by Use Case, 2021-2022

Immature AI

Chris Ehrlich

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