AI Market Will Surge to Near $1 Trillion by 2027, Bain Says
- Market for AI hardware, services growing 40% to 55% a year
- Boom could result in shortages of chips, computers, Bain says
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The global market for AI-related products is ballooning and will hit as much as $990 billion in 2027, as the technology’s quick adoption disrupts companies and economies, Bain & Co. said.
The market, including artificial intelligence-related services and hardware, will grow 40% to 55% annually from $185 billion last year, the consulting firm said in its fifth annual Global Technology Report released Wednesday. That will lead to revenue of $780 billion to $990 billion, Bain said.