According to the latest "Global Artificial Intelligence and Generative AI Spending Guide" Version 2 released by International Data Corporation (IDC), global investment in the artificial intelligence (AI) industry is growing rapidly. It is expected that by 2024, the total global AI IT investment will reach 315.9 billion U.S. dollars and show a strong upward trend over the next five years, potentially surging to 1261.9 billion U.S. dollars by 2029, with an annual compound growth rate of as high as 31.9%. The expansion trend of this trillion-dollar market has been initially established.
Globally, the United States continues to dominate the market with its technological accumulation and corporate layout, holding more than 55% of the market share. The combined market share of China and the United States is close to 70%, becoming an undeniable industrial dual engine. In addition, the European market has also performed well, and it is expected that by 2029, AI investment in Europe will reach 250 billion U.S. dollars, with Western Europe contributing more than 90% of the share.
Notably, the Middle East, Africa, and Latin America have become the fastest-growing markets with a compound growth rate of as high as 40%. Although the initial investment in AI in these regions is relatively small, they are expected to become new growth poles for global AI investment as digital infrastructure gradually improves.
According to the report, the global AI market is expected to achieve a compound growth rate of 56.3% over the next five years, reaching 607.1 billion U.S. dollars by 2029, accounting for 48.1% of the total global AI investment. The promotion of this technology has entered a stage of multi-point penetration around the world. Except for the United States, the proportion of generative AI investment in other regions exceeds 20%, becoming the core driving force for AI growth in each region.
In China, due to the promotion of policies such as the "Opinions of the State Council on Deeply Implementing the 'Artificial Intelligence + Action'", it is expected that by 2029, China's AI investment will exceed 111.4 billion U.S. dollars, with an annual compound growth rate of 25.7%. The market penetration speed of generative AI is extremely fast, and it is expected that its market share will jump from 18.2% in 2024 to 41.1% by 2029, exceeding 45 billion U.S. dollars in scale.
From an industry perspective, software and information services, telecommunications, and banking are the top three fields for AI investment. By 2029, the market shares of these three sectors are expected to reach 43.5%, 7.0%, and 6.0%, respectively. The application of AI in scenarios such as code generation, network optimization, and intelligent risk control has already entered a large-scale stage.
Key Points:
🌍 Global AI investment is expected to reach 1261.9 billion U.S. dollars by 2029, with an annual compound growth rate of 31.9%.
🇺🇸 The United States dominates the market, with a share of more than 55%, and the combined share of China and the United States is nearly 70%.
📈 The Middle East, Africa, and Latin America have become the fastest-growing markets with a compound growth rate of 40%.
