IT Home March 11 news, today, IDC released a report that the global AI market size is expected to reach $88.57 billion (about 559.762 billion yuan) in 2021, and increase to $221.87 billion (about 1.4 trillion yuan) in 2025, with a five-year compound growth rate (CAGR) of about 26.2%.
IT House understands that the report points out that in 2025, China will account for about 8.3% of the total global scale, ranking second among independent countries.
IDC predicts that as AI applications continue to land, the Chinese market will grow at a CAGR of 24.4% and is expected to exceed $18.43 billion (about 116.478 billion yuan) in 2025.
▲ The picture is from IDC, the same below
In terms of technology, the overall end-user expenditure on hardware, software and services is increasing year by year. In the five-year forecast period of 2021-2025, more than half of AI-related spending will still flow to the hardware market, and the five-year CAGR will remain around 18.5%. Software will scale the market at a faster pace, with a five-year CAGR expected to reach 36.2 percent.
In terms of industry applications, IDC expects the government, banking and communications industries to continue to lead the scale of spending during the five-year forecast period, and the three together account for about one-third of the total.