As per the report by Economic Times by 2025, the demand for expertise in advanced technologies like AI, robots, and data science will be 20 times larger than the supply.
Global IT research firm Gartner forecasts the AI and data science platform market is to grow to over $10 billion by 2025 at a 21.6% compounded annual growth rate.
According to estimates by the International Data Corporation (IDC), the AI (artificial intelligence) market in India is expected to grow at a five-year compound annual growth rate (CAGR) of 20.2 per cent and reach USD 7.8 billion in total revenues by 2025.
Back in February 2021, the International Data Corporation (IDC) had predicted that by 2024, the market for AI is slated to exceed the $500 billion mark. The TRAI paper noted that investment in AI and machine learning (ML) companies has increased sharply. Indian AI and analytics start-ups too have received $1,108 million in funding in 2021, the highest ever funding in seven years, with a year-over-year growth rate of 32.5%.
As per the report by smartdatacollective.com, big data technology has helped many companies improve efficiency and address some of the top challenges they have encountered in recent years. A growing number of businesses have invested in AI to improve their business models. As a result, the market for AI technology is projected to be worth over $420 billion by 2028. Surveys have shown that 90% of the top businesses use AI, even though only 37% of companies use it at all.
As per the report by smartdatacollective.com, big data technology is shaping the future of healthcare. Global healthcare companies are projected to spend over $105 billion on big data by 2030.
