target audience: TECHNOLOGY PROVIDER
Publication date: July 2024 – Document type: Market share – Doc Document number: # US52386524
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Abstract
This IDC study provides an overview of worldwide artificial intelligence (AI) platform software revenues by vendor for the historical year 2023.
“Despite ongoing financial challenges, the AI platform software market grew 44.4% to $27.9 billion in 2023,” said Raghunandhan Kuppuswamy, research manager, AI and Automation Software Research at IDC. “While the AI industry grew rapidly in 2022 driven by the relentless pursuit of efficiency and productivity gains, 2023 proved to be a turning point. Organizations faced the harsh realities of implementing AI, including high costs, talent shortages, and the increasing challenges of integrating these complex systems into existing workflows. Excitement around AI was at an all-time high, but the real test was whether companies could overcome these formidable challenges and derive tangible, long-term value from their AI investments.” Those that have failed to meet these challenges have fallen behind in an increasingly competitive environment.”
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