Predict your next investment

INTERNET | Internet Software & Services / Accounting & Finance
4gov.com

See what CB Insights has to offer

Stage

Other Investors | Alive

Revenue

$0000 

About iDC

iDC is a developer of Fund Accounting software for government and not-for-profit organizations. iDC's web-based, scalable products are designed for rapid implementation, seamless integration, and can be tailored to fit specific needs of IT, finance and elected officials. They enhance emergency preparedness, government continuity and disaster recovery. iDC recently gained national recognition as recipient of the NAWBO/Wells Fargo Trailblazer Award for Technology Innovation and the 2005 Torch Award for Marketplace Ethics from the Better Business Bureau of Northern Illinois. Additionally, the Illinois Department of Commerce and Economic Opportunity awarded iDC a grant to enhance homeland security efforts. iDC is based in Chicago. Phenomenelle Angel Fund was iDC's first institutional investor.

iDC Headquarter Location

1 East Erie Street

Chicago, Illinois, 60611,

United States

312-464-1020

Latest iDC News

IDC : Forecasts Companies to Spend Almost $342 Billion on AI Solutions in 2021

Aug 4, 2021

08/04/2021 | 08:32am EDT Message : *Required fields Worldwide revenues for the artificial intelligence (AI) market, including software, hardware, and services, is estimated to grow 15.2% year over year in 2021 to $341.8 billion, according to the latest release of the International Data Corporation ( IDC ) Worldwide Semiannual Artificial Intelligence Tracker . The market is forecast to accelerate further in 2022 with 18.8% growth and remain on track to break the $500 billion mark by 2024. Among the three technology categories, AI Software occupied 88% of the overall AI market. However, in terms of growth, AI Hardware is estimated to grow the fastest in the next several years. From 2023 onwards, AI Services is forecast to become the fastest growing category. Within the AI Software category, AI Applications has the lion's share at nearly 50% of revenues. In terms of growth, AI Platforms is the strongest with a five-year compound annual growth rate (CAGR) of 33.2%. The slowest will be AI System Infrastructure Software with a five-year CAGR of 14.4% while accounting for roughly 35% of all AI Software revenues. Within the AI Applications market, AI ERM is expected to grow slightly stronger than AI CRM over the next five years. Meanwhile, AI Lifecycle Software is forecast to grow the fastest among the markets within AI Platforms. Additional market share details and a graphic illustrating IDC's worldwide forecast for the AI Software category are available by viewing this press release on IDC.com . "Disruption is unsettling, but it can also serve as a catalyst for innovation and transformation. 2020 was the year that accelerated digital transformation and strengthened the value of enterprise AI," said Ritu Jyoti , group vice president for AI and Automation Research at IDC. "We have now entered the domain of AI-augmented work and decision across all the functional areas of a business. Responsible creation and use of AI solutions that can sense, predict, respond, and adapt at speed is an important business imperative." The AI Services market was estimated at $19.4 billion in 2020, representing the fastest growth relative to hardware and software. For 2021, it is forecast to grow at 19.3%. Over the next five years, it is expected to enjoy the best CAGR at 21%. This technology category breaks down into two segments: IT Services and Business Services. IT Services is the larger of the two, accounting for nearly 80% of all AI Services revenues. From a growth perspective, the two markets are similar with five-year CAGRs of 21%. Overall, AI Services is expected to be a $50 billion market by 2025. Additional market share details and a graphic illustrating IDC's worldwide AI Services forecast are available by viewing this press release on IDC.com . "AI has emerged as an essential component of the future enterprise, fueling demand for services partners to help organizations clear the many hurdles standing between pilot projects and enterprise AI," said Jennifer Hamel , research manager, Analytics and Intelligent Automation Services . "Client demand for expertise in developing production-grade AI solutions and establishing the right organization, platform, governance, business process, and talent strategies to ensure sustainable AI adoption at scale drives expansion across both IT services and business services segments." AI Hardware is the smallest category with 5% share of the overall AI market. Nonetheless, it is forecast to grow the fastest in 2021 at 29.6% year over year. It is also expected to hold the best growth spot in 2022. Over the next five years, its CAGR is estimated at 19.4%. This technology category breaks down into two markets: Server and Storage. Server has the larger share at approximately 82% while Storage is forecast to have better growth with a five-year CAGR of 22.1%. Additional market share details and a graphic illustrating IDC's regional forecast for the AI Hardware category are available by viewing this press release on IDC.com . "The market for AI servers and storage was less impacted than anticipated by the COVID-19 pandemic and is now rapidly picking up steam again, especially at the edge," said Peter Rutten , research director, Infrastructure Systems, Platforms and Technologies at IDC. "The infrastructure of choice is coalescing around massively parallel compute using co-processors and server clusters with fast interconnects and networks." The IDC Worldwide Semiannual Artificial Intelligence Tracker publishes AI vendor share and market forecast data on a semi-annual basis. It provides data and insights into all the key technology areas – server, storage, software, and services – built on IDC's comprehensive methodology involving vendor product, market, and workload modeling. Over 700 companies are currently published in the Tracker, ensuring that the competitive landscape is well represented across all the three technology categories. Data is available on a total of 27 countries and five rest-of regions. In this July 2021 release, we are adding deployment type segmentation on the software data for the first time. Through its broad and in-depth coverage, the Tracker can be relied on by users to assess which areas within the AI market are expected to grow during these unusually challenging times and optimize their business plans accordingly. In the next release, scheduled for January 2022, IDC will expand the Tracker with more market details, especially in the software space. About IDC Trackers IDC Tracker products provide accurate and timely market size, vendor share, and forecasts for hundreds of technology markets from more than 100 countries around the globe. Using proprietary tools and research processes, IDC's Trackers are updated on a semiannual, quarterly, and monthly basis. Tracker results are delivered to clients in user-friendly Excel deliverables and on-line query tools.

Predict your next investment

The CB Insights tech market intelligence platform analyzes millions of data points on venture capital, startups, patents , partnerships and news mentions to help you see tomorrow's opportunities, today.

Research containing iDC

Get data-driven expert analysis from the CB Insights Intelligence Unit.

CB Insights Intelligence Analysts have mentioned iDC in 3 CB Insights research briefs, most recently on Jul 14, 2021.

Expert Collections containing iDC

Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.

iDC is included in 1 Expert Collection, including Fintech.

F

Fintech

6,976 items

US-based companies

iDC Patents

iDC has filed 117 patents.

patents chart

Application Date

Grant Date

Title

Related Topics

Status

10/29/2012

1/16/2018

Cooling technology, Energy conservation, Building engineering, Home appliances, Servers (computing)

Grant

00/00/0000

00/00/0000

Subscribe to see more

Subscribe to see more

Subscribe to see more

00/00/0000

00/00/0000

Subscribe to see more

Subscribe to see more

Subscribe to see more

00/00/0000

00/00/0000

Subscribe to see more

Subscribe to see more

Subscribe to see more

00/00/0000

00/00/0000

Subscribe to see more

Subscribe to see more

Subscribe to see more

Application Date

10/29/2012

00/00/0000

00/00/0000

00/00/0000

00/00/0000

Grant Date

1/16/2018

00/00/0000

00/00/0000

00/00/0000

00/00/0000

Title

Subscribe to see more

Subscribe to see more

Subscribe to see more

Subscribe to see more

Related Topics

Cooling technology, Energy conservation, Building engineering, Home appliances, Servers (computing)

Subscribe to see more

Subscribe to see more

Subscribe to see more

Subscribe to see more

Status

Grant

Subscribe to see more

Subscribe to see more

Subscribe to see more

Subscribe to see more

iDC Web Traffic

Rank
Page Views per User (PVPU)
Page Views per Million (PVPM)
Reach per Million (RPM)
CBI Logo

iDC Rank

CB Insights uses Cookies

CBI websites generally use certain cookies to enable better interactions with our sites and services. Use of these cookies, which may be stored on your device, permits us to improve and customize your experience. You can read more about your cookie choices at our privacy policy here. By continuing to use this site you are consenting to these choices.