Generative AI - ASEAN | Statista Market Forecast

The market size in the Generative AI market is projected to reach US$1.32bn in 2024.
The market size is expected to show an annual growth rate (CAGR 2024-2030) of 46.47%, resulting in a market volume of US$13.04bn by 2030.
In global comparison, the largest market size will be United States (US$11.66bn in 2024).

Definition:
Generative artificial intelligence (AI) is a field of artificial intelligence that focuses on creating models and systems capable of generating new content, such as images, videos, music, or text. By training on large datasets, generative AI models learn patterns and structures within the data to produce novel and realistic outputs that mimic the original data distribution. Using techniques like generative adversarial networks (GANs) or variational autoencoders (VAEs), generative AI has the potential to enhance creativity, enable data synthesis, and revolutionize various industries including art, entertainment, and content creation.

Additional Information:

The market comprises two key performance indicators: market sizes, and market sizes by industry. Market sizes are generated by the funding amount of Generative Artificial Intelligence companies. Key players of the market include companies such as Open AI, NVIDIA DeepL Learning and Google (Magenta, DeepDream).

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Applications of generative artificial intelligence to create new content, such as images, music, and text, which is indistinguishable from human-generated content.

Non-artificial intelligence applications of generative systems, such as procedural content generation in video games, which do not involve machine learning or creativity.

The Generative AI market in the Artificial Intelligence Market of ASEAN nan is experiencing exceptional growth driven by factors like rapid adoption of digital technologies, increasing health awareness, and convenience of online health services. The market's extraordinary growth rate is influenced by the growing demand for AI-powered healthcare solutions and advancements in technology.

Customer preferences: As the use of Generative AI technology continues to expand in the ASEAN region, there is a growing demand for personalized and intuitive AI-powered solutions in various industries. This trend is driven by a shift towards more data-driven decision making and the desire for more efficient and effective processes. Additionally, as digital transformation continues to accelerate, companies are increasingly turning to Generative AI to streamline operations and enhance customer experiences. This has led to a surge in investments in the Generative AI market, as businesses seek to capitalize on the potential of this technology.

Trends in the market: In ASEAN, the Generative AI market is witnessing a rise in demand for AI-powered chatbots and virtual assistants, with businesses leveraging these tools to enhance customer service and streamline operations. In addition, there is a growing trend of using AI for predictive maintenance in manufacturing and supply chain management. These trends are expected to continue, driven by the increasing adoption of AI and the need for more efficient and personalized solutions. For industry stakeholders, this presents opportunities for growth and innovation, but also raises concerns about potential job displacement and the need for upskilling.

Local special circumstances: In the ASEAN region, the Generative AI Market within the Artificial Intelligence Market is experiencing strong growth due to the region's increasing adoption of emerging technologies. The demand for advanced AI solutions is driven by the region's growing e-commerce and digital economy, as well as its large population and rising middle class. Additionally, the lack of strict data privacy regulations in some ASEAN countries has created a favorable environment for the development and implementation of Generative AI technologies. This unique combination of factors is expected to continue driving the growth of the Generative AI Market within the Artificial Intelligence Market in the ASEAN region in the coming years.

Underlying macroeconomic factors: The growth of the Generative AI market within the Artificial Intelligence Market is influenced by various macroeconomic factors such as government support, technological advancements, and investment in research and development. Countries with favorable economic conditions and strong investment in AI technologies are experiencing faster market growth compared to regions with limited government support and funding. Moreover, the increasing adoption of AI in various industries, such as healthcare, finance, and retail, is driving the demand for Generative AI solutions to improve efficiency and productivity. Additionally, the growing focus on data-driven decision making and the need for automation in business processes are also contributing to the growth of the Generative AI market.

Data coverage: The data encompasses B2B, B2G, and B2C enterprises. Figures are based on the funding values from different industries for the market.

Modeling approach / Market size:Market sizes are determined through a top-down approach with a bottom-up validation, building on a specific rationale for each market. As a basis for evaluating markets, we use annual financial reports, funding data, and third-party data. In addition, we use relevant key market indicators and data from country-specific associations such as GDP, number of internet users, number of secure internet servers, and internet penetration. This data helps us estimate the market size for each country individually.

Forecasts:In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the S-curve function and exponential trend smoothing are well suited to forecast digital products and services due to the non-linear growth of technology adoption. The main drivers are the level of digitalization, the number of secure internet servers, and the revenue of the Public Cloud market.

Additional Notes: The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russian-Ukraine war are considered at a country-specific level. The market is updated twice a year. In some cases, the market is updated on an ad-hoc basis (e.g., when new, relevant data has been released or significant changes within the market have an impact on the projected development). Data from the Statista Consumer Insights Global survey is weighted for representativeness.

This report presents a comprehensive analysis and additional information on the Technology market, in a PDF format.

Artificial intelligence evokes images of supercomputer assistants, machines that can think creatively, and, to some, scenes from their favorite sci-fi movie. The reality, despite not being as futuristic, is not far off from this. AI refers to the ability of a computer or machine to mimic the competencies of the human mind, which often learns from previous experiences to understand and respond to language, decisions, and problems. The market for AI technologies is vast, amounting to around 200 billion U.S. dollars in 2023 and is expected to grow well beyond that to over 1.8 trillion U.S. dollars by 2030.

Artificial intelligence (AI), the technology that allows digital computers or computer-controlled robots to perform tasks more commonly associated with intelligent beings, has been leaping into the limelight following the release of a wide variety of Generative AI models in 2023. The United States, being the largest economy in the world, has a natural advantage. Although human-like androids such as those portrayed in the science fiction movie Blade Runner are still far from reality, applications of AI such as smartphone virtual assistants and industrial robots are already widespread in U.S. society. The industry’s powerful ability to improve efficiency and increase productivity has made it of strategic importance to U.S. industries and government, both of which push the U.S. lead in the AI race.