Gartner Predicts, Worldwide Artificial Intelligence Software Market to Reach $62 Billion in 2022
Worldwide artificial intelligence (AI) software revenue is forecast to total $62.5 billion in 2022, an increase of 21.3% from 2021, according to a new forecast from Gartner. The AI software market encompasses AI embedded applications, such as computer vision software, and software that is used to build AI systems.
“The AI software market is picking up speed, but its long-term trajectory will depend on enterprises advancing their AI maturity,”Alys Woodward, Senior Research Director at Gartner
Gartner’s AI software forecast is based on use cases, measuring the amount of potential business value, timing of business value, and risk to project how use cases will grow. Gartner forecasts that the top five use case categories for AI software spending in 2022 will be knowledge management, virtual assistants, autonomous vehicles, digital workplace, and crowdsourced data.
“Successful AI business outcomes will depend on the careful selection of use cases,” said Woodward. “Use cases that deliver significant business value, yet can be scaled to reduce risk, are critical to demonstrate the impact of AI investment to business stakeholders.”
Demand for AI technologies and associated market growth is closely tied to organizational AI maturity levels. According to the 2022 Gartner CIO and Technology Executive Survey, 48% of CIOs responded that they have already deployed or plan to deploy AI and machine learning technologies within the next 12 months. It indicates that the enterprises continue to demonstrate a strong interest in AI.
But we can’t deny the fact that the reality of AI deployment is much more limited. As the report talks about the other dimension too. It says, ‘Gartner research found that organizations commonly experiment with AI but struggle to make the technology a part of their standard operations.’