Generative AI - Eastern Europe | Statista Market Forecast

The market size in the Generative AI market is projected to reach US$576.20m 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$5.69bn 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 is rapidly expanding in Eastern Europe, fueled by the high growth rate of the Artificial Intelligence market and various factors such as increasing adoption of digital technologies, rising awareness of AI in healthcare, and the convenience of online health services. This intense growth is impacted by the region's strong focus on technological advancements and the demand for innovative solutions in the healthcare industry.

Customer preferences: Consumers in Eastern Europe are becoming more open to adopting Generative AI technology, driven by the growing demand for personalized and highly interactive digital experiences. This trend is particularly prominent among younger generations, who are more tech-savvy and value cutting-edge solutions. As a result, there is a growing market for AI-powered chatbots, virtual assistants, and recommendation engines in the region. Additionally, the rise of e-commerce and online shopping has led to the use of Generative AI for personalized product recommendations, enhancing the overall shopping experience for consumers.

Trends in the market: In Eastern Europe, the Generative AI market is seeing a surge in demand for AI-based solutions in customer service and marketing. This trend is driven by the need for businesses to improve customer experience and optimize marketing strategies. As companies in this region embrace AI technologies, the trajectory of this trend is expected to continue upwards. This presents significant opportunities for industry stakeholders, including AI solution providers and businesses looking to incorporate AI into their operations. Additionally, the adoption of Generative AI in Eastern Europe could have implications for the region's economic growth and competitiveness in the global AI market.

Local special circumstances: In Eastern Europe, the Generative AI market is experiencing growth due to the region's increasing investment in technological advancements and government initiatives promoting digital transformation. Countries such as Poland, Romania, and Hungary have a strong pool of technical talent, contributing to the development of innovative AI solutions. Additionally, the region's growing start-up culture and favorable regulatory environment are attracting foreign investments, further driving the market's growth.

Underlying macroeconomic factors: The growth of the Generative AI market in Eastern Europe is greatly impacted by macroeconomic factors such as government support, technological advancements, and investment in AI infrastructure. Countries with favorable regulatory environments and strong investment in AI technologies are experiencing faster market growth compared to regions with regulatory challenges and limited funding. Additionally, the increasing demand for AI solutions across various industries, such as healthcare, finance, and manufacturing, is driving the growth of the market in the region. Moreover, the growing adoption of cloud-based AI platforms and the rise in data generation and storage capabilities are also contributing to the market's expansion.

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.

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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.