The report released on Sept 25, stated that the market for AI-related hardware and software is poised to grow 40% to 55% annually, reaching between US$780 billion and US$990 billion by 2027.
According to Bain & Company’s fifth annual Global Technology Report, the market for Artificial Intelligence (AI) products and services has the potential to reach up to US$990 billion ($1.27 trillion) by 2027.
“Generative AI is the largest total addressable market expansion of software and hardware seen in several decades,” says Nvidia CEO Jensen Huang at the company’s 3QFY2024 earnings call.
