The AI Global Market: Trends and Analysis

Suggesting a certain industry is currently experiencing a boom certainly implies it’s undergoing a substantial resurgence or market boost, but when it comes to the growth of the global AI market in the next decade, a boom might very well be an understatement, as the global market is looking to grow rapidly in the coming decade.

A large part of this has been down to the rapid switch towards remote and flexible working around the world. For example, the need for simplified, cost-effective, and consolidated IT management and support software, such as our very own GoTo Resolve, also saw a need to streamline and automate some of these processes for greater efficiency. This is a niche that AI is perfectly tailored to provide.

There are many other examples besides this that we could turn to as well to emphasize this point, but as a result of these requirements, the AI market is already growing swiftly as businesses search for the right solutions for their customers’ needs.

To put it simply, the overall value of the global AI market is set to grow continually and exponentially over the next decade, with investment into AI rising far higher than in recent years.

In fact, when looking at gross R&D expenditure alone, the US has already invested over $679 billion into the research and development of AI, followed closely by China, who have contributed roughly $551 billion – that’s $369 billion more than Japan, a country widely associated with robotics, but which has only invested $182 billion in AI research so far.[1] But what about the state of the global AI market itself? Just how valuable has it become in the last few years, and how is it set to grow in the future?

Well, already sitting at an impressive value of $207.9 billion as of 2023, the overall value of the AI market is set to increase dramatically by around 36.6% by the end of 2030. This means that, if the current growth trend continues as predicted, the AI market will hold a value of $420.5 billion by 2025, before crossing the $1 trillion dollar mark by 2028 and hitting an impressive $1,847.5 trillion by 2030.[2]

This kind of market growth has been entirely unrivalled since the global AI market emerged, and that’s before we even begin to look at the effects of market growth in specific AI fields, for example, enterprise solutions and generative AI.

Enterprise solutions in particular are set to see similar growth to the overall AI market, capping out at a potential 34.4% value expansion by 2025. This would see the market grow from a value of $11.8 billion to $31.2 billion after just 5 years.[3]

And as for generative AI – software like ChatGPT – its market value is set to surpass $50 billion by 2029 and hit $73.2 billion by 2030. Considering the current market value is set at $13.7 billion, that’s a growth of 27% by the end of the decade.[4]

Now that we have a general idea of how the global AI market is set to grow in the coming years, let’s take a closer look at the potential market revenue generation that certain AI fields can expect to see in the coming years – specifically the AI chatbot and robotics industries.

Well, according to data provided by Statista, the AI chatbot market is set to see its revenue grow by 22.7% from 2020 to 2026. At the moment, chatbot software is already producing a revenue value of $2.9 billion, but by 2026, this might very well have tripled to over $10.1 billion.[5]

However, while this is impressive on its own, the biggest gains for AI revenue will likely be in the field of AI robotics. In terms of revenue, the AI robotics industry could grow as much as 29.4% by 2030. In terms of financial value, that would see market revenue go from $6.9 billion in 2021 to a staggering $77.7 billion by 2030.[6] That’s an increase of $70.8 billion in a decade!

And that’s not all for the AI robotics field. In the same timeframe, the revenue of the collaborative robotics market is also set to see growth of up to 33%, going from $0.6 billion to over 8 billion in total by 2030.[7]

Naturally, with such enormous, predicted growth in AI market value and revenue, many business owners might be curious to see what sort of impact this will have in the workplace, especially in the realm of productivity.

As you’d expect from a technology designed to make things easier, the percentage increase in productivity is substantial across many countries, particularly in those already starting to incorporate AI into the way they work.

Notable countries for productivity improvement include Japan, Germany, and France, each of whom have been increasing their AI investment in recent years, but according to data from Statista, it might actually be Sweden that sees the highest increase in productivity, which is looking to cap out at a massive 37% increase by 2035.[8]

But Sweden is not the only Nordic country that’s looking to make the most of AI’s productivity benefits. Finland actually placed second in Statista’s data, seeing a potential productivity boost of 36%, and only after this do we see some of the more expected countries, with the US potentially benefitting from a 35% productivity boost and the UK 25%.[9]

Interestingly, even the country that ranked lowest in the data set, Spain, is still expected to see a productivity boost of 11%[10], indicating that any country which is able to correctly invest and incorporate AI into their workplaces, no matter how minimally, is still likely see substantial benefits to overall workplace productivity.

Finally, let’s focus on where exactly AI has seen the biggest adoption in the workplace since 2022 – both to see which industries currently employ AI technology the most and to provide future context for how other sectors are looking to capitalize on AI usage in the future.

With this in mind, and perhaps to no one’s surprise, as of 2022, the sector with the biggest AI presence is the automated customer service industry, which accounts for a whopping 60.7% of all AI usage.[11] This is far greater than any other sector. Sales automation, which accounts for 12.2% of AI usage globally, is the only industry that even comes close to automated customer service, and IT optimization makes up for just 8.4%.[12]

But while the difference between the size of current AI adoption in these industries might appear heavily one-sided, this can be expected to change quite substantially in the future if the global AI forecast proves accurate – and as we’ll see later on, this shift towards a more balanced incorporation of AI across different industrial sectors may already be happening.