AI software revenue to surge by a factor of 12 by 2025 - Omdia

LONDON (April 29, 2020) -- Global AI software revenue is projected to increase by 12-fold in the next seven years, skyrocketing from $10.1 billion in 2018 to $126.0 billion in 2025 according to Omdia. "The global AI market is entering a new phase in 2020 where the narrative is shifting from asking whether AI is viable to declaring that AI is now a requirement for most enterprises that are trying to compete on a global level," said Keith Kirkpatrick, principal analyst with Omdia. "AI is likely to trigger major transformations in industries where there is a clear case for incorporating AI, rather than in pie-in-the-sky use cases that may not generate a return on investment (ROI) for many years." Top use cases Demand for artificial intelligence in the consumer, enterprise, government and defense sectors is growing. Currently, the number of business-to-business (B2B) software opportunities related to AI total 333 and cover 28 industry sectors, with 203 unique use cases.