India's AI Investment Boom: $1.7 Billion in 2023, Projected $733 Million Infrastructure by 2027

May 17, 2024
India's AI Investment Boom: $1.7 Billion in 2023, Projected $733 Million Infrastructure by 2027
  • 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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