AI Market Will Surge to Near $1 Trillion by 2027, Bain Says

The global market for AI-related products is ballooning and will hit as much as $990 billion in 2027, as the technology’s quick adoption disrupts companies and economies, Bain & Co. said.

The market, including artificial intelligence-related services and hardware, will grow 40% to 55% annually from $185 billion last year, the consulting firm said in its fifth annual Global Technology Report released Wednesday. That will lead to revenue of $780 billion to $990 billion, Bain said.

The growth will be fueled by bigger AI systems and larger data centers to train and run them, driven by companies and governments using ...