Generative AI - Southern Asia | Statista Market Forecast

The market size in the Generative AI market is projected to reach US$846.60m 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$8.36bn 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 in Southern Asia has seen exceptional growth, fueled by the rising demand for digital solutions, growing awareness about health, and the convenience of online services. This extraordinary growth rate is driven by the increasing use of advanced technologies and the rising need for efficient healthcare solutions in the region.

Customer preferences: In Southern Asia, the Generative AI Market within the Artificial Intelligence Market is witnessing a rise in demand for AI-powered language translation services, as the region is home to a diverse population with multiple languages spoken. Additionally, there is a growing interest in AI-based virtual assistants for personalized customer service and increasing adoption of AI-based chatbots for efficient communication. These shifts in consumer preferences are driven by the need for seamless and efficient communication in a multicultural and fast-paced environment.

Trends in the market: In Southern Asia, the Generative AI market within the Artificial Intelligence Market is experiencing a surge in demand for AI-powered chatbots and virtual assistants. This trend is driven by the region's growing adoption of digital platforms and the need for more efficient and personalized customer service. The trajectory of this trend is expected to continue upwards as businesses across industries, from banking to retail, invest heavily in AI solutions to improve customer engagement and streamline operations. These developments have significant implications for industry stakeholders, as they must adapt to the shifting landscape of customer interactions and embrace the potential of AI to drive growth and improve efficiency.

Local special circumstances: In countries like India and China, the Generative AI Market within the Artificial Intelligence Market is experiencing rapid growth due to government initiatives and investments in AI technology. This is driven by the large and diverse population, as well as the increasing adoption of technology in various industries. Additionally, the presence of local tech giants and startups in these countries is fueling the development of innovative AI solutions, further driving market growth. However, regulatory challenges and concerns over data privacy may pose a hurdle to the market's expansion in these regions.

Underlying macroeconomic factors: The Generative AI Market within the Artificial Intelligence Market in Southern Asia is influenced by macroeconomic factors such as technological advancements, government support, and investments in infrastructure. Countries with supportive regulatory environments and robust investments in AI technologies are experiencing faster market growth compared to regions with regulatory challenges and limited funding. Moreover, the increasing adoption of AI in various industries, such as healthcare and finance, is driving the demand for Generative AI solutions in the region. Additionally, the rising population and growing urbanization in Southern Asia are creating a large market for AI technologies, further boosting market growth.

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.