Source Research:
Artificial Intelligence (AI) Software Market Data Overview: 3Q 2024
Presentation | 15 Jul 2024 | PT-3243
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Highlights
- The Artificial Intelligence (AI) software market size will be valued at US$98 billion in 2024.
- Growing at a Compound Annual Growth Rate (CAGR) of 30%, the AI software market size will reach US$391.43 billion in 2030.
- Generative AI will be the fastest growing AI framework with a 49.7% CAGR over the market forecast period with foundation models, optimization software, and model deployment tools offering the largest opportunities.
- Traditional AI (AI sensing, predictive AI, Natural Language Processing (NLP)) will continue to lead total revenue in the AI software market. This significant growth will be driven by maturing enterprise AI strategies that will make these frameworks more accessible.
- Over the forecast period, the revenue gap with generative AI will continue to decrease given the wider applicability of generative AI across industries and use cases.
Our AI market sizings are sourced from the following market data reports: