China’s AI market size will reach US$26.44 billion in 2026

China’s artificial intelligence (AI) market expenditure will increase to US$14.75 billion in 2023, accounting for approximately one-tenth of the global total. IDC predicts that China's AI market will reach a market size of US$26.44 billion in 2026, and the five-year compound growth rate (CAGR) from 2021 to 2026 will exceed 20%.

News on March 30 (Andy) The "2023 V1 Global Artificial Intelligence Expenditure Guide" released by market research organization IDC shows that China's artificial intelligence (AI) market expenditure The scale will increase to US$14.75 billion in 2023, accounting for approximately one-tenth of the global total. IDC predicts that China's AI market will reach a market size of US$26.44 billion in 2026, and the five-year compound growth rate (CAGR) from 2021 to 2026 will exceed 20%.

The AI ​​software market has great development potential during the five-year forecast period, and both the scale and growth rate have been increased in this forecast. IDC predicts that AI software spending will grow to US$7.69 billion in 2026, accounting for approximately 29% of the total market size, an increase of ten percentage points from 2021.

The AI ​​service market will further expand at a slightly lower growth rate than the software market. Among them, the dominant IT services field will reach a market size of US$3.27 billion in 2026, nearly four times larger than in 2021, with a five-year CAGR of close to 30%.

IDC predicts that within the five-year forecast period, the main expenditures in the AI ​​field will still come from industry users in the professional services field, followed by the government and financial industries, with the three together accounting for approximately 10% of the market. More than half of the amount.

In all 36 application scenarios, IDC predicts that Augmented Customer Service Agents, Sales Process Recommendation and Augmentation, and Smart Business Innovation and Automation) will be the focus scenario within the five-year forecast period and are widely present in various industries, with more than one-third of market investment going to it.

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