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Global market for AI: $37 billion by 2025

By LINDA DENG | China Daily USA | Updated: 2018-04-15 00:19

The global market for AI is projected to reach $37 billion in revenue by 2025, a 57-fold increase from $644 million in 2016, according to a new report from Tractica, a Boulder, Colorado-based market intelligence firm that focuses on human interaction with technology

For China, AI-related industries are expected to generate up to 26 percent of its gross domestic product by 2030. The largest sector gains will likely be in retail, financial services and healthcare.

Last year, Chinese President Xi Jinping outlined the nation's technological ambitions in his opening address to the 19th National Congress of the Communist Party of China (CPC). It largely confirms previously-announced plans for AI research, giving itself a target to become an “innovation center” by 2030.

According to the International Federation of Robots, China will lay claim to 40 percent of total worldwide robotic sales by 2019. China is the biggest shareholder of the robotic global market with a net worth of $30 billion. It is No. 1 in sales for industrial robots. South Korea and Japan are ranked second and third, respectively. The US is fourth.

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