No software development is far from being a flat line of growth. The market is only getting bigger as new ideas change the landscape of development. Currently the Artificial Intelligence sector is seeing a tremendous spike in application development due to a variety of uses. Instagram, for example, is using AI to identify inappropriate behaviour and bullying in photos used on their platform. All the major car builders are seeking AI to enhance automobiles and drivers, as is LIFT and UBER with having a completely autonomous vehicle. In combination this has had an impact on education and created a shortage in the AI workforce. The need for more qualified AI skilled workers will see a large growth line as well.
The global sector of AI has major players taking large interests like – Intel, Xilinx, Samsung Electronics, Micron, IBM, Alphabet, Amazon, Apple and Microsoft. While these companies serving their own interests, platforms and customers others will be stepping forward with solutions to medicine and agriculture. There is not one industry or service that will not have some sort of AI component or enhancement to their business. Sights are set high and ideas are rapidly forming as we march ahead.
Artificial Intelligence Software Development market size in the US is expected to grow by 52.6% CAGR during 2018-2025. Last year in 2017 the estimated market value of AI was $4.93 billion dollars, currently the estimate for the AI market in 2025 will be a staggering $38.4 billion dollars – that’s globally! With a growth line like that you have to think about what type of investments your portfolio has. With a CAGR rate of almost 30% a year it is a sector worth have a look at.