Despite a rocky start to the year for the tech sector, marked by geopolitical tensions shaking up global markets, the industry will continue to grow, though at a shifted pace. Artificial intelligence remains one of the biggest drivers behind that growth, and the market is set to reach a historic milestone in the following years.
According to data presented by Stocklytics.com, artificial intelligence is expected to become a trillion-dollar industry by 2031.
Half-a-Trillion Dollar Industry with more than One Billion Users
Despite high interest rates, economic slowdown, stricter regulations on big tech and AI, Trump’s tariff policies, and global trade wars, AI continues to outperform nearly every other area of the tech sector. While these challenges will likely raise costs for AI hardware and cause short-term supply chain disruptions, AI’s core growth drivers- software, business use, and cloud services, are less affected by tariffs and keep moving ahead.
Statista’s latest market forecast shows the global AI market will surge by 31% and hit a $244 billion value in 2025, growing faster than any other tech industry segment. While 31% growth in 2025 is huge, the market projections for the following years are just as impressive. According to Statista’s forecast, the industry will continue seeing double-digit growth for seven straight years.
In 2027, the global AI market is expected to hit over $400 billion value and continue rising. Just three years later, in 2030, that figure will double to over $800 billion. By 2031, AI is expected to break another record and become a trillion-dollar industry. This huge leap will place AI in the same group with other gigantic sectors that drive innovation, fuel economic growth, and create millions of jobs, including digital payments, stock markets, healthcare, manufacturing, IT services, Internet of Things (IoT), and consumer electronics.
Besides reaching a record trillion-dollar value, AI will continue growing its global user base. In 2025, the market will have roughly 350 million users. However, Statista expects another 825 million people to embrace AI tools by 2031, pushing the total user count to a jaw-dropping 1.1 billion.
Artificial Intelligence to Add 11.5% to Global GDP Growth by 2031, 3x More than This Year
AI’s latest market forecast also shows that artificial intelligence will be a major driver of global GDP growth in the future, much bigger than it is now. The Statista Market Insights survey showed three scenarios of AI’s impact on global GDP. In a moderate scenario, the cumulative effect of AI-driven technologies and innovations could increase global economic output by 11.5% by 2031, or three times more than this year.
In an optimistic scenario, AI’s impact will be 1.4% higher or 12.8% the same year. Even the conservative scenario predicts AI will significantly boost the global economy. In this scenario, the cumulative impact of AI-driven technologies and innovations will increase global economic output by 9.5% in 2031, or three times more than this year.
The full story and statistics can be found here.
