AI Market to Nearly $1,000 Billion by 2027

The global market for products and services in the field of artificial intelligence (AI) is in full expansion. By 2027, this market could reach a value of nearly $1,000 billion, compared to $185 billion in 2023, according to the American advisory firm Bain & Company.

The firm expects that the AI market will grow by 40 to 55 percent each year. At that pace, revenue from AI products in 2027 could amount to between $780 and $990 billion (approximately €700 to €885 billion).

More and more companies, organizations, and even governments are making use of AI-related products. This also requires a lot of hardware such as data centers. According to the researchers, there may be shortages of chips needed for AI systems due to this strong demand.

Bain also states that costs for large data centers for AI applications could rise significantly over the next five years because the energy capacity is constantly increasing and more components are therefore required. It's not just about chips; it also includes cooling systems for the data centers and technological infrastructure.