International Data Corporation (IDC) is the premier global provider of market intelligence, advisory services, and events for the information technology, telecommunications, and consumer technology markets.
With more than 1,300 analysts worldwide, IDC offers global, regional, and local expertise on technology and industry opportunities and trends in over 110 countries. IDC's analysis and insight helps IT professionals, business executives, and the investment community to make fact-based technology decisions and to achieve their key business objectives.
Founded in 1964, IDC is a wholly-owned subsidiary of International Data Group (IDG, Inc.), the world's leading tech media, data and marketing services company.
In 2024, generative AI emerged as a key driver for business outcomes across every industry. Already this new generation of AI is having an incredible impact on our world — yet companies and industries are just scratching the surface of what’s possible as they continue to develop new use cases across every role and function.... |
With intelligence becoming the primary source of value creation,we are on the verge of the “Intelligence Revolution,” in which artifcial intelligence (AI) and automation-oriented technology will be the main accelerators of business change. In the realm of AI everywhere,generative AI (GenAI) emerges as a transformative force, potentiallyrevolutionizing the future. According to IDC’s Worldwide Artifcial Intelligence Systems Spending Guide (August 2023), which tracks AI software, hardware, and services across industries and use cases, enterprises worldwide are expected to invest $166 billion on AI solutions in 2023. This spending is expected to grow to $423 billion at a compound annual growth rate (CAGR) of 26.9% for 2022–2027. This is more than four times greater than the fve-year CAGR of 5.7% for worldwide IT spending over the same period. Enterprises worldwide are expected to invest $16 billion in generative AI solutions in 2023. GenAI spending is expected to exceed $140 billion at a CAGR of 70%+ for 2023–2027. This is approximately three times greater than overall AI IT spending and almost 13 times greater than the CAGR for worldwide IT spending over the same period. |
IDC examines consumer markets by devices, applications, networks, and services to provide complete solutions for succeeding in these expanding markets. |
Worldwide revenues for the artificial intelligence (AI) market, including software, hardware, and services for both AI centric and AI non-centric applications*, totaled $383.3 billion in 2021, an increase of 20.7% over the prior year, according to the most recent International Data Corporation (IDC) Worldwide Semiannual Artificial Intelligence Tracker. IDC expects the AI market value will reach nearly $450 billion in 2022 and maintain a year-over-year growth rate in the high teens throughout the five-year forecast. "Across all industries and functions, end-user organizations are discovering the benefits of AI technologies, as increasingly powerful AI solutions are enabling better decision-making and higher productivity," said Rasmus Andsbjerg, associate vice president, Data & Analytics at IDC. "The reality is, AI offers solutions to everything we are facing at the moment. AI can be a source for fast-tracking digital transformation journeys, enable cost savings in times of staggering inflation rates and support automation efforts in times of labor shortages." |