India's AI Investment Boom: $1.7 Billion in 2023, Projected $733 Million Infrastructure by 2027
May 16, 2024
A recent study by Intel and IDC predicts a 31.5% compound annual growth rate in AI spending in India from 2023.
Indian businesses invested $1,703.8 million in AI in 2023, with key sectors leading the investments.
AI infrastructure investment in India is expected to reach $733 million by 2027, despite concerns about AI talent brain drain.
Global tech giants are forecasted to spend over $200 billion on AI in the current year, potentially exceeding $1 trillion in the next 4-5 years.
Worldwide AI investment by companies is estimated to hit $423 billion by 2027, with the intelligent process automation software market also expected to grow significantly.
Digital assistants are gaining prominence, with over 40% of IT investments projected to be AI-focused by 2025.
The global Text-To-Video AI market is anticipated to reach $0.89 billion by 2028, with North America leading the market share.
AI CCTV market is predicted to reach USD 57.11 billion by 2030, driven by security concerns and AI-IoT integration.
The Global AI Robots Market is expected to hit USD 69.24 Billion by 2031, with North America and Asia Pacific as significant contributors.
The Wearable AI market is projected to reach USD 289.38 billion by 2033, with North America currently leading and Asia Pacific noted for growth opportunities.
Summary based on 10 sources
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Sources

Yahoo Finance • May 16, 2024
Artificial Intelligence (AI) Robots Market to Surpass USD 69.24 billion by 2031 | SkyQuest Technology
Brainy Insights Pvt. Ltd. • May 16, 2024
Wearable AI Market to Grow at CAGR of 26.24% through 2033 - Heightened Adoption of Wearable Technology to Propel Growth