The market for AI platforms software—instrumental in the rapid growth of intelligent automation—will surge more than 40 percent over the next several years to more than $150 billion, according to a new report.
Worldwide Artificial Intelligence Platforms Software Market Shares ($) from Massachusetts-based research firm IDC said global revenue from the sale of AI platforms software will grow 40.6 between 2023 and 2028 to $153 billion as adoption across industries and the integration of large-language model-based generative AI continues to provide momentum for the evolving technology.
“The AI platforms market shows no signs of slowing down. Rapid innovations in generative AI is changing how companies think about their products, how they develop and deploy AI applications, and how they leverage technology themselves for reinventing their business models and competitive positioning,” said Ritu Jyoti, group vice president and general manager of IDC’s Artificial Intelligence, Automation, Data and Analytics research. “IDC expects this upward trajectory will continue to accelerate with the emergence of unified platforms for predictive and generative AI that supports interoperating APIs, ecosystem extensibility, and responsible AI adoption at scale.”
Microsoft, Palantir, Open AI, Google and AWS were the top five providers of AI platforms software in 2023 with overall sales in the category reaching nearly $28 billion, the report said.