PR Newswire
04 Oct 2022, 13:30 GMT+10
Cybersecurity is the fastest growing AI software category; 72% of the global AI spend will come from the US and China
SINGAPORE, Oct. 4, 2022 /PRNewswire/ -- Forrester (Nasdaq: FORR) forecasts that AI software will grow 50% faster than the overall software market over the next two years, with an annual growth rate of 18%. The spend on AI software will double from $33 billion in 2021 to $64 billion in 2025 due to an accelerated adoption of AI during the pandemic and an increase in the number of companies that offer AI software.
According to Forrester's Global AI Software Forecast, 2022, cybersecurity is the fastest-growing AI software category, with significant investments being made in real-time monitoring and response in order to mitigate growing cybersecurity threats. Within the AI software market, AI-infused software will see a 22% CAGR by 2025; AI maker tools, which are used to develop AI applications, will see an 18% CAGR; and AI-centric software, which runs on AI components, will see a 14% CAGR.
Across eight forecasted countries (the US, China, Japan, France, Germany, Italy, Spain, and the UK), AI's share of software spend will increase from 4.3% in 2021 to 6% in 2025. The US and China will dominate this AI software spend, with 72% of global AI spend. In addition, more than 80% of annual investments in AI and blockchain technologies will come from the two countries.
Key Geographical Highlights
"AI has great potential across categories including cybersecurity, process optimization and automation, health, and human capital management," said Michael O'Grady, a principal forecast analyst at Forrester. "However, as AI adoption becomes mainstream, enterprises will need to manage its complexity, which includes adhering to responsible AI practices, nurturing the growing pool of AI talent, and the continued evolution of business models."
Resources
About Forrester
Forrester (Nasdaq: FORR) is one of the most influential research and advisory firms in the world. We help leaders across technology, customer experience, digital, marketing, sales, and product functions use customer obsession to accelerate growth. Through Forrester's proprietary research, consulting, and events, leaders from around the globe are empowered to be bold at work - to navigate change and put their customers at the center of their leadership, strategy, and operations. Our unique insights are grounded in annual surveys of more than 700,000 consumers, business leaders, and technology leaders worldwide; rigorous and objective research methodologies, including Forrester Wave evaluations; 70 million real-time feedback votes; and the shared wisdom of our clients. To learn more, visit Forrester.com.
SOURCE Forrester
Get a daily dose of Philippine Times news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Philippine Times.
More InformationCLARKSDALE, Mississippi: A judge in Mississippi has ordered a newspaper to take down an editorial that criticized the mayor and city...
JERUSALEM, Israel - Two bills that have passed a preliminary reading in the Knesset have raised concerns among civil society groups...
MILAN, Italy: Italy's competition authority has launched an investigation into four major automakers—BYD, Stellantis, Tesla, and Volkswagen—over...
WASHINGTON, D.C.: The Pentagon said this week that it has asked the military to find ways to cut about $50 billion from the 2026 budget....
HONOLULU, Hawaii: The Hawaii State Capitol needs significant repairs, which will cost between US$50 million and $100 million and could...
WASHINGTON, D.C.: The U.S. Border Patrol arrested 29,000 migrants crossing the U.S.-Mexico border illegally in January, the agency...
TOKYO, Japan: The Bank of Japan is expected to raise interest rates at least once more this year, likely in the third quarter, bringing...
NEW YORK, New York - U.S. stock markets closed lower on Monday, with the major indexes showing mixed performances as investors digested...
BLAGNAC, France: Airbus has set a target of delivering around 820 commercial jets in 2025, marking a seven percent increase from the...
NEW DELHI, India: Google is preparing to open its first physical retail stores outside the U.S., with locations in India likely to...
WASHINGTON, D.C.: One in five Americans say they are buying more than usual because they are worried about President Donald Trump's...
NEWPORT BEACH, California: Chipotle Mexican Grill is ramping up hiring efforts ahead of its busiest time of the year, known as burrito...