Generative AI - Worldwide | Statista Market Forecast

The market size in the Generative AI market is projected to reach US$36.06bn 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$356.10bn 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 within the Artificial Intelligence market worldwide is rapidly expanding, with intense growth driven by factors like growing adoption of digital technologies, increasing health consciousness among consumers, and the convenience of online health services. This trend is expected to continue as more businesses and industries recognize the potential of Generative AI technology.

Customer preferences: As the use of generative AI solutions becomes more widespread, consumers are showing a growing preference for personalized and customizable products and services. This trend is driven by cultural nuances and evolving lifestyle factors, as individuals seek more control and individualization in their interactions with technology. Additionally, the rise of data privacy concerns has also led to a higher demand for AI solutions that prioritize user privacy and security.

Trends in the market: In the Worldwide and Generative AI Market, there is a growing trend of using AI-powered chatbots and virtual assistants to enhance customer service and automate business processes. This trend is expected to continue as AI technology advances and becomes more accessible to businesses of all sizes. This has significant implications for industry stakeholders, as it can improve efficiency, reduce costs, and enhance the customer experience. Additionally, the use of AI in generative design is gaining momentum, allowing for faster and more innovative product design. These trends are likely to shape the future of the AI market, with potential implications for job roles and business models.

Local special circumstances: In China, the Generative AI market is rapidly expanding due to the government's push for the adoption of AI technologies in various industries. The country's large population and advanced technology infrastructure provide a highly conducive environment for the development of Generative AI solutions. Additionally, the cultural emphasis on innovation and efficiency has further accelerated the growth of the market in China. In Japan, the market is driven by the country's aging population and their increasing need for personalized and cost-effective healthcare solutions. This has led to the rise of AI-powered medical devices and virtual assistants that cater to the unique needs of the elderly population.

Underlying macroeconomic factors: The growth of the Generative AI market is heavily influenced by macroeconomic factors such as technological advancements, government support, 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. Furthermore, the increasing demand for intelligent automation in various industries and the growing need for innovative solutions to enhance business efficiency are driving the adoption of Generative AI globally.

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.