This IDC study presents a five-year forecast for the core IT spending for GenAI market for the 2023-2027 period."Despite IT headwinds in 2023, businesses accelerated their exploration of GenAI to boost business transformation in 2023. In 2024, the shift to AI everywhere will enter a critical buildout phase with spending more than doubling to $40.1 billion and reaching $151.1 billion in 2027," said Rick Villars, group vice president, Worldwide Research at IDC.
IDC Market Forecast Figure
Executive Summary
Advice for Technology Suppliers
Market Forecast
GenAI Foundation Build: 2023-2025
Broad Adoption of GenAI Capabilities: 2025-2026
Unified AI Services: 2026 and Beyond
GenAI Investments Around the World
Market Context
Drivers and Inhibitors
Drivers
Artificial Intelligence/Machine Learning Adoption and Scaling