India Artificial Intelligence Market To Reach $7.8 Billion By 2025: IDC

The artificial intelligence (AI) market in India is expected to grow at a five-year compound annual growth rate (CAGR) of 20.2 percent and touch USD 7.8 billion in total revenues by 2025, according to research firm IDC. The businesses in India will accelerate the adoption of both AI-centric and AI non-centric applications for the next five years, IDC said in a statement. AI software segment is expected to dominate the market and grow from USD 2.8 billion in 2020 at a CAGR of 18.1 percent by the end of 2025, IDC said. Organisations are leveraging multiple AI applications such as CRM (), ERM () and others to manage operations, scale supply chains in response to real-time or predicted demands and many more to provide benefits for their customers, improve RoI (return on investments) and achieve cost savings, it added.