target audience: TECH SUPPLIER Publication date: Dec 2023 - Document type: Market Forecast - Doc Document number: # US51539723
Worldwide Core IT Spending for GenAI Forecast, 2023–2027: GenAI Is Triggering Hyper-Expansion of AI Spending
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Abstract
This IDC study presents a five-year forecast for the core IT spending for GenAI market for the 2023–2027 period.
"Despite IT headwinds in 2023, businesses accelerated their exploration of GenAI to boost business transformation in 2023. In 2024, the shift to AI everywhere will enter a critical buildout phase with spending more than doubling to $40.1 billion and reaching $151.1 billion in 2027," said Rick Villars, group vice president, Worldwide Research at IDC.