In 2023, the global AI platforms market grew by 44.4% year-on-year compared to 2022. Microsoft led the market, increasing by 77.9% last year to capture 13.8% of the market. Palantir, a major AI player, had 7.5% of the market, representing an 18.2% year-over-year increase, according to IDC.
“OpenAI’s meteoric rise in 2023 marked nothing short of an enormous transformation in the AI landscape,” IDC said in its report: “Worldwide Artificial Intelligence Platforms Software Market Shares.” OpenAI had a staggering 690% year-over-year increase in revenue last year; the company’s market share soared to 5.8%, “a remarkable achievement for a relative newcomer in this highly competitive field,” IDC said.
Ritu Jyoti, IDC’s group vice president of IDC’s AI, Automation and Analytics research, said the current market shows “no signs of slowing down. Rapid innovations in generative AI is changing how companies think about their products, how they develop and deploy AI applications, and how they leverage technology themselves for reinventing their business models and competitive positioning.”