{"id":173,"date":"2020-03-15T20:16:11","date_gmt":"2020-03-15T20:16:11","guid":{"rendered":"https:\/\/springengage.com\/?p=173"},"modified":"2024-02-17T10:49:37","modified_gmt":"2024-02-17T10:49:37","slug":"ai-revenue-statistics","status":"publish","type":"post","link":"https:\/\/springengage.com\/ai-revenue-statistics\/","title":{"rendered":"29 Shocking AI Revenue Statistics [2024 Edition]"},"content":{"rendered":"\t\t
The thought of artificial intelligence taking over the world once invoked a sense of fear, as any fan of 1970s dystopian films will tell you.\u00a0<\/span><\/p> Now, though, a sense of excitement accompanies it.\u00a0<\/span><\/p> But just what does the future of artificial intelligence look like? What is the <\/span>AI market size<\/span>? <\/span>What percentage of USA GDP is spent on AI<\/span>? What do <\/span>AI revenue statistics<\/span> say about the current state of the industry and the projected <\/span>AI revenue growth rate<\/span>?\u00a0<\/span><\/p> You\u2019ve got the questions, we\u2019ve got the answers.\u00a0<\/span><\/p> Let\u2019s dive right in.<\/span><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t By now we all know that AI is a thing. But just how big of a thing is it? We\u2019ll let these stats do the talking.\u00a0<\/span><\/p> (<\/span>P&S Intelligence<\/span><\/i>)<\/span><\/p> In 2018, the <\/span>AI retail market size<\/span> was valued at a cool $720 million and is set to see further growth of 35.4% in the next four years.\u00a0<\/span><\/p> What makes the <\/span>AI retail market size<\/span> so large?\u00a0<\/span><\/p> Investments in machine learning, natural language processing, and analytics take up a large chunk of the AI market.\u00a0<\/span><\/p> (<\/span>Creative Strategies<\/span><\/i>)<\/span><\/p> To put the focus on the consumer for a second, <\/span>AI statistics<\/span> show that nearly all smartphone owners use voice assistants powered by AI. Interestingly enough, fewer Android users have tried voice assistants than iPhone users, with 4% of users never using OK Google. In contrast, only 2% of iPhone users haven\u2019t tried Siri.\u00a0<\/span><\/p> (<\/span>Forbes<\/span><\/i>)<\/span><\/p> Additionally,<\/span> global artificial intelligence statistics<\/span> show that 64 countries are using facial recognition systems, 56 countries are using smart city platforms, and 52 countries use smart policing.\u00a0<\/span><\/p> (<\/span>Statista<\/span><\/i>)<\/span><\/p> In the space of 12 months, the <\/span>AI world market size<\/span> has grown by a staggering 154%. The <\/span>AI adoption rate<\/span> amongst big companies such as Microsoft, Nvidia, Amazon.com, Intel, Google, and IBM is a huge contributing factor in this.\u00a0<\/span><\/p> (<\/span>Tractica<\/span><\/i>)<\/span><\/p> The market is absolutely enormous, and it\u2019s only going to go from strength to strength over the next five years.\u00a0<\/span><\/p> But what do the <\/span>AI revenue statistics<\/span> of 2020 look like?\u00a0<\/span><\/p> (<\/span>Statista<\/span><\/i>)<\/span><\/p> AI revenue statistics<\/span> for 2018 show a revenue of $9.51 billion, while 2019 data that is yet to be confirmed shows $14.69 billion. So, it\u2019s safe to say that <\/span>AI revenue 2020<\/span> will be around the $22.59 billion mark.<\/span><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t AI is generating a lot of revenue and shows no sign of letting up in the foreseeable future.\u00a0<\/span><\/p> The only questions we need to ask is:\u00a0<\/span><\/p> Who is doing the spending and how much are they spending?\u00a0<\/span><\/p> The answer to these questions can be found in the <\/span>AI spending statistics<\/span> we\u2019ve outlined below.\u00a0\u00a0<\/span><\/p> (<\/span>ADT Mag<\/span><\/i>)<\/span><\/p> Just because the media industry isn\u2019t spending the most on AI, it sure is spending the fastest. Companies in the media industry are forecast to see amazing growth of 33.7%. The second fastest spenders on AI are federal and central governments, which lost the title of fastest spenders by a mere 0.1%.\u00a0\u00a0<\/span><\/p> (<\/span>IDC<\/span><\/i>)<\/span><\/p> Artificial intelligence spendings trends<\/span> suggest that by the time 2020 is up, AI spendings will grow by more than two and a half times from the 2019 figure. Those are definitely not rookie numbers.\u00a0\u00a0\u00a0\u00a0\u00a0<\/span><\/p> (<\/span>The White House<\/span><\/i>)<\/span><\/p> Every taxpayer wants to know where their money is going. So, <\/span>what percentage of USA GDP is spent on AI<\/span>. While one-sixth of 1% doesn\u2019t sound like a lot, it amounts to approximately $973 million.\u00a0<\/span><\/p> But it\u2019s not just America that is spending all this money on AI…\u00a0<\/span><\/p> (<\/span>Deloitte<\/span><\/i>)<\/span><\/p> Wondering what <\/span>AI investment by country<\/span> looks like? The <\/span>top 3 countries spending the most on AI technology<\/span> are China, the US, and the UK. It\u2019s <\/span>estimated<\/span> <\/a>that in 2017 alone, China spent $12 billion on AI systems.\u00a0<\/span><\/p> (<\/span>IDC<\/span><\/i>)<\/span><\/p> The <\/span>top 5 industries that are spending the most on AI<\/span> are the retail and banking industries as well as the healthcare, professional services, and manufacturing industries. The retail and banking industries are both set to invest upwards of $5 billion next year.<\/span><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\tFascinating AI Revenue Facts and Stats (Editor\u2019s Choice) \n<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
AI Market Size Statistics<\/h3>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
1. <\/span>AI retail market size<\/span> expected to grow by 35.4%\u00a0<\/span><\/h4>
2. 97% of smartphone owners use AI-powered voice assistants.\u00a0<\/span><\/h4>
3. 75 countries now use AI for surveillance purposes.\u00a0<\/span><\/h4>
4. The <\/span>AI world market size<\/span> has grown by 154% since 2018.\u00a0<\/span><\/h4>
5. <\/span>Global AI software market siz<\/span>e expected to reach $126 billion in the next five years\u00a0\u00a0\u00a0<\/span><\/h4>
6. <\/span>AI revenue 2020 <\/span>is set to surpass the $22 billion mark.\u00a0<\/span><\/h4>
Global AI Spendings \n<\/h3>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
7. The fastest <\/span>AI spendings growth<\/span> will be seen in the media industry.<\/span><\/h4>
8. Artificial intelligence spending will more than double by the end of the year.<\/span><\/h4>
9. One-sixth of 1% of US GDP will be spent on AI.\u00a0<\/span><\/h4>
10. In 2017, China spent $12 billion on AI systems.\u00a0<\/span><\/h4>
11. The retail and banking industries are both set to invest more than $5 billion in AI.\u00a0\u00a0<\/span><\/h4>