Even so, total addressable market can -- or should be -- an actionable value for business decision-makers. Let's examine what TAM is and the role it plays in strategic growth plans.

More than 300 startups had made it for the second round of the challenge but only 100 made it to the final round. One of the slides presented by those who didn’t make it to the final round was ...

Meanwhile, it's a specialist in its field, one with a total addressable market of more than $140 billion. Is this player a buy right now? Image source: Getty Images.

He told CNBC that AI’s total addressable market is at least $10 trillion, making it bigger than industries like transportation and healthcare insurance.

The acquisition will increase the company's “total addressable market” to approximately $1 trillion, an increase of approximately $50 billion, Home Depot said of the deal.