Research: ChatGPT brings a decade of prosperity to generative AI, with a market size of $1.3 trillion in 2032

Author: Li Dan

Image source: Generated by Unbounded AI tool

The launch of ChatGPT at the end of November last year gave the artificial intelligence (AI) industry a shot in the arm, and the entire industry has entered a stage of rapid development.

According to a recent report by Bloomberg Intelligence, the power of ChatGPT is not limited to this, and it will usher in a decade of prosperity for the generative AI market. Amazon's cloud business, Google parent Alphabet, Nvidia and Microsoft could all be big winners from this AI boom.

On Wednesday, Microsoft just reported that it has increased its investment in the field of AI. According to the media, Microsoft and Nvidia have previously invested 100 million US dollars in startups CoreWeave signed an AI computing power agreement, which may be worth billions of dollars. CoreWeave was valued at $2 billion in April this year, and just announced a $200 million funding round at the end of May.

The above-mentioned Bloomberg Industry Research report predicts that by 2032, nine years later, the operating revenue of the generative AI market will reach US$1.3 trillion, which is 32.5 times the US$40 billion in revenue last year.

According to the report, in the next ten years, the generative AI industry will usher in explosive growth, which is expected to fundamentally change the way the AI industry operates. Generative AI technologies will become an increasingly important part of IT and advertising spending, as well as cybersecurity.

The report estimates that in the next ten years, the generative AI industry may expand at a rate of 42%. The entire industry will first be driven by the infrastructure requirements necessary to train AI systems. By 2032, this business revenue will reach 247 billion U.S. dollars. Then, the growth will come from devices that use AI models, advertising, and other services. Supported digital advertising business revenue will reach $192 billion, and AI server revenue may reach $134 billion.

Although the above-mentioned report does not specifically break down the revenue forecast of each country and region, IDC, a well-known technology and telecommunications industry consulting organization, has previously outlined the broad prospects of China's AI market.

When IDC released the "2023 V1 Global Artificial Intelligence Spending Guide" at the end of March this year, it was estimated that China's AI market spending will increase to US$14.75 billion this year, accounting for about one-tenth of the global total.

IDC also predicts that in 2026, China's AI market will achieve a market size of US$26.44 billion, and from 2021 to 2026, the five-year compound growth rate (CAGR) will exceed 20%. From a technical perspective, AI hardware spending will still account for more than half of the total size of the Chinese market within five years. In 2026, the scale of AI software spending will increase to US$7.69 billion, accounting for about 29% of the total market size, an increase of 10 percentage points from 2021.

In the long run, IDC believes that the innovative iteration of AI technology drives the further implementation of application scenarios, and the hot spots represented by AIGC, digital human, multi-modality, AI large model, and intelligent decision-making have brought more imagination and intelligence to the market. possibility. At the same time, enterprises' active promotion of their own "digitalization" and "digital intelligence" transformation has created a diversified demand for AI technology, laying the foundation for the long-term growth of China's AI market.