IDC: Global AI spending will double to $300 billion in 2026

#According to the latest forecast from IDC, from 2023 to 2026, the global market share in AI (including software, hardware and services for AI-centric systems) spending will more than double. This year the figure will reach $154 billion, meaning it will exceed $300 billion by 2026.

Many companies have been actively adopting and integrating AI technology. In recent years, this trend has become increasingly prominent, and expenditures on AI tools have continued to increase. The "Global AI Guide" report released by IDC shows that by the end of this year, enterprise spending on AI tools will increase by 26.9% compared with the same period last year, and this growth rate is expected to continue until 2026.

Some of that spending will come in the form of generative AI tools, with both Microsoft and Salesforce incorporating large language model-based tools into their customer relationship model offerings. In addition to generative AI, the main use cases come from recommendation engines and virtual customer service agents.

Overall, AI-centric systems will grow by 27% between 2022 and 2026, with only one of the 36 use cases outlined in the report having a lower CAGR than twenty four%. On the spend side, three main use cases focus on sales and customer service, including: enhanced customer service agents, sales process recommendations and enhancements, and program advisors and recommendation systems.

The amount of investment will also vary by industry, with the largest investment coming from the banking and retail industries, followed by professional services, while the fastest growing AI spending will be in the media industry, with a compound annual growth rate of 30.2%.

The report points out that the United States will become the world’s largest AI market, accounting for more than 50% of all AI-centered spending. Europe will account for around 20% of global AI spending, but with a compound annual growth rate of 30% over the next five years, it will be the fastest growing region during this period. By 2026, China will become the third largest AI market, with a compound annual growth rate of 20%.

Mike Glennon, senior market research analyst in IDC's Customer Insights and Analysis team, said, "Companies that are slow to adopt AI will be left behind, regardless of their size. In these companies, AI is best suited It is used to enhance human capabilities, automate repetitive tasks, provide personalized recommendations, and make data-driven decisions quickly and accurately."

Xueqing Zhang, senior market analyst at IDC China Enterprise Research Department, said, "AI technology will Continue to bring empowerment effects to users and industry sectors. With the support of pre-trained large models, multi-modal and other technologies, AI capabilities will be applied on a large scale in the entire production process, promoting the technology from concept to large-scale application. . In the future, whether it is urban issues at the government level or life issues closely related to people, they will all enjoy the dividends brought by AI technology, and eventually there will be AI shared by all people."

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