Global AI market expected to hit US$1.8 trillion by 2030: Report

According to investment advisory firm Invezz, the global artificial intelligence (AI) market is set to grow by 109.56 per cent, from a valuation of US$136.5 billion in 2022 to US$298 billion in 2024. In 2025, it is forecasted to reach US$420 billion, with expectations soaring to US$1.8 trillion by 2030.

“The projected boom in the global AI market reflects the seismic shift in industries embracing AI’s transformative potential,” said Harsh Vardhan, news editor at Invezz.

“This surge is not just about numbers; it embodies a fundamental shift in business mindsets globally, acknowledging AI as a catalyst for innovation and efficiency across sectors. The trajectory speaks volumes about AI’s evolution from a buzzword to an indispensable force, driving industries to rethink strategies, adopt advanced technologies, and pave the way for a future where intelligent systems revolutionize global operations and redefine business paradigms.”

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Jim Love, Chief Content Officer, IT World Canada

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