It’s safe to say that Artificial Intelligence (AI) is the technology of the decade. AI is a cornerstone to automating business processes and improving consumer experiences. In this blog post, ABI Research shares some of the most striking artificial intelligence statistics revealed in the company’s recent market findings. These statistics accurately gauge the maturity and growth of various AI solutions and identify the trends that will dictate the future of the technology.
Table of Contents
- Artificial Intelligence Software Statistics
- Artificial intelligence Hardware Statistics
- Generative AI Statistics
Artificial Intelligence Software Statistics
The AI software market size will reach US$237.9 billion by 2030 (Source: MD-AISOFT-101)
ABI Research forecasts that the AI software market value will increase from US$35.2 billion in 2023 to nearly US$238 billion in 2030. This is a Compound Annual Growth Rate (CAGR) of 27% throughout the forecast period.
North America will account for 37.4% of the AI software market by 2028 (Source: MD-AISOFT-101)
The United States is ripe with AI innovation and significant investment, making North America the top region for AI software adoption. By 2027, North American companies will account for 37.4% of the AI software market, followed distantly by China (20.6%).
34.6% growth rate for AI software adoption in China (Source: MD-AISOFT-101)
While North America generates the most overall revenue for AI software, China’s 34.6% growth rate makes it the fastest-growing region for AI software adoption.
Natural Language Processing (NLP) software will generate more than US$110 billion in revenue annually by 2030 (Source: MD-AISOFT-101)
Today, computer vision accounts for the most AI software revenue worldwide. However, Natural Language Processing (NLP) applications will overtake the computer vision segment in 2026 for the most revenue. And by 2030, this figure will be US$110.4 billion. This trend highlights the strong demand for AI and Deep Learning (DL) algorithms that understand, interpret, and generate human language (e.g., chatbots).
Edge AI software revenue will surpass US$148 billion by 2030 (Source: MD-AISOFT-101)
Demand for edge AI software solutions will ascend throughout the remainder of the decade, with our analysts forecasting a US$148.5 billion market opportunity by 2030.
AI data services revenue to nearly quadruple in 4 years (Source: 38 Technology Stats You Need To Know For 2024 Whitepaper)
As enterprises prefer fine-tuned contextualized models for generative AI, the revenue opportunity for AI data services will almost quadruple from US$4.4 billion in 2024 to US$15.8 billion by 2028. Highly in-demand AI data services include curation, generation, labeling, and management.
Artificial Intelligence Hardware Statistics
1.8 million edge AI RISC-V chipset shipments expected in 2024 (Source: AN-6121)
RISC-V, an Instruction Set Architecture (ISA) providing flexibility in edge AI chipset development, will find its footing this year. Spurred primarily by non-mission-critical consumer use cases (e.g., home sensors, robotics, etc.), edge AI RISC-V chipset shipments will reach 1.8 million by the end of 2024. By 2030, that number will soar to north of 129 million annually.
TinyML device shipments to grow at a rate of 32% through 2028 (Source: MD-AIML-110)
Tiny Machine Learning (TinyML) device shipments will grow at a CAGR of 32% between 2023 and 2028, reaching 4.1 billion shipments in 2028. Our analysts report that more than half of the total shipments will be personal and work devices (smartphones, PCs, etc.), with smart home, manufacturing, and automotive being other significant verticals for TinyML.
On-device AI installed base to reach 5.3 billion by 2028 (Source: MD-AIML-110)
The global installed base for devices with AI embedment will roughly double from 2.6 billion in 2023 to more than 5.3 billion by 2028. On-device AI provides the benefit of enhanced security, lower latency, reduced networking costs, and higher reliability than cloud-based AI applications.
Generative AI Statistics
Generative AI will unlock a more than US$450 billion opportunity for business implementers over the next 7 years across 12 verticals (Source: AN-5861)
Once current hurdles to adoption are addressed (e.g., skills gap, legal confusion, data privacy), generative AI is projected to create more than US$450 billion in value creation over the next 7 years across 12 sectors our analysts looked at.
Financial services and retail/e-commerce will create a value of nearly US$80 billion in 2027 with generative AI (Source: 38 Technology Stats You Need To Know For 2024 Whitepaper)
Our forecasts indicate that businesses within the financial services and retail/e-commerce sectors will benefit the most from adopting generative AI. By 2027, these two segments will account for US$77.3 billion (47%) of total value creation using generative AI. Generative AI can automate trend analyses, fraud protection, contract drafting, credit assessments, and other tasks for financial services firms. Meanwhile, the technology is key for content creation, chatbots, and making personalized shopping recommendations in retail/e-commerce settings.
Manufacturers will possess US$5.5 billion in added revenue in 2029 using generative AI (Source: PT-2763)
ABI Research estimates that the total value creation of generative AI in manufacturing will hit the US$5.5 billion mark by 2029. That will be a 5X increase compared to 2026’s value added, and almost a sevenfold increase from 2024.
95% of consumers plan to use voice assistants in their vehicles within 3 years (Source: IN-7197)
Recent survey data tell us that virtually every consumer wants to use in-car voice assistants, with 95% indicating they plan to use one within 3 years. Generative AI assistants, such as the one our analysts saw showcased by Microsoft and TomTom at CES 2024, will play a huge role in the future. AI-based voice assistants are more conversational/humanlike and allow drivers to book appointments, order services, control heating and cooling, plan trips, and more.
Conclusion
Whether it’s enhancing fleet management operations or providing a personalized music playlist, artificial intelligence is already changing our professional and personal lives in profound ways. While there are still some roadblocks to novel use cases, generative AI is one of the most transformative technologies of our time. There is immense potential for AI to improve societies, but also to be used by malicious actors for political or financial reasons. ABI Research’s AI & Machine Learning Research Service covers all the latest technologies, market developments, challenges, and opportunities that will determine the fate of AI in the modern enterprise.
The AI data unearthed in this post are just a grain of sand compared to the breadth of tech intelligence ABI Research’s global team of analysts provides. Some of these findings can be traced back to our 38 Technology Stats You Need To Know For 2024 whitepaper, which was recently published and ready for you to download today. This free resource provides more context concerning a few of these AI statistics and identifies others shaping the future of technology markets.
