target audience: TECH SUPPLIER Publication date: Jul 2023 - Document type: Market Share - Doc Document number: # US49651923
Worldwide Search and Knowledge Discovery Software Market Shares, 2022: Artificial Intelligence Accelerates Growth
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Abstract
This IDC study presents a view of search and knowledge discovery software revenue broken down by vendor for the calendar year 2022. This market continues to see accelerated growth, following a pandemic-era reckoning of enterprises' ability to support remote knowledge sharing and further fueled by AI-based improvements in accuracy and contextual understanding as well as by the increasing shift to cloud-based solutions.
"The search and knowledge discovery software market grew at a significant rate of 25.4% in 2022, with gradual but steady acceleration in the past few years bringing it to a total market size of $5.5 billion," said Hayley Sutherland, research manager, Conversational AI and Knowledge Discovery at IDC. "Recent survey results from early 2023 indicate enterprises are beginning to realize the value of AI-powered search and knowledge discovery, and IDC expects to see even more interest in this market over the next few years."