Over the past few years, the AI-software market has grown significantly. Although forecasts against this trend have become more restrained amid the outbreak of coronavirus, COVID-19 has unevenly affected various industries, notes DailyComm. In particular, while some industrial sectors, such as energy, oil and gas, and mining, are cutting costs, several others, such as healthcare, are accelerating AI adoption.
Omdia estimates that in 2019, sales of artificial intelligence software generated $16.4 billion. Experts have developed several possible models for further development, depending on the duration of the pandemic and the severity of its economic consequences.
According to the most moderate scenario, the revenue from AI-software will increase six-fold by 2025 and reach $ 98.8 billion. Despite the fact that this is 22% less than the initial forecast made before the pandemic, experts believe that in the next five-year period the market will continue to grow at double-digit rates.
Two more pessimistic scenarios provide for a less pronounced upward trajectory and revenue at the end of the period under review at a little more than $ 70 and 50 billion. As for the most optimistic estimate, it is even higher than the original forecast and suggests a sharp increase in sales of AI software, to more than $ 120 billion in 2025.
It is worth adding that earlier Omdia researchers predicted an almost eight-fold increase in sales of software AI solutions for retail in the coming years.
Experts believe that in order to increase efficiency, physical stores will increasingly resort to AI technology, reports NIX Solutions. It is expected that the cost of retailers for software with elements of artificial intelligence will rise to 9.8 billion dollars by 2025. In 2019, expenses in this area were estimated at $ 1.3 billion.
Also, Omdia estimated that in the total over the period under review, retailers invest about $ 37.3 billion in the purchase of AI solutions.
Among the various types of AI software for stores, the largest segment in terms of costs will be software for managing supply chains and stocks of products.