Asia Pacific Generative AI Market To Reach $37.55 Billion By 2030

Asia Pacific Generative AI Market Growth & Trends

The Asia Pacific generative AI market is anticipated to reach USD 37.55 billion by 2030. It is anticipated to expand at a CAGR of 37.5% from 2024 to 2030, according to a new report by Grand View Research, Inc. The major factors contributing to market growth include rising advancements in deep learning algorithms, increasing adoption of cloud-based solutions, and demand for AI-generated content across various industries. Rising demand for AI-generated content across various industries drives the adoption of GenAI solutions in Asia Pacific. From media and entertainment to e-commerce and healthcare, organizations use AI to create personalized and engaging customer experiences.

GenAI technologies enable businesses to automate content creation processes, generate personalized recommendations, and develop innovative products and services. Organizations are increasingly recognizing the value of data as a strategic asset and investing in AI technologies, including generative AI, to extract actionable insights from large volumes of data. GenAI algorithms can analyze data patterns, generate predictive models, and assist in decision-making processes, empowering businesses to gain a competitive edge in the industry. For instance, in September 2023, Avanade Inc., a Microsoft solutions provider, launched the first GenAI Lab in Southeast Asia. This lab serves as a center of excellence and allow organizations to test and create generative AI solutions.

The lab helps organizations extract business value from data and accelerate AI readiness. Governments across the region are implementing policies to promote innovation, entrepreneurship, and the development of AI ecosystems. By providing funding, incentives, and infrastructure support, governments encourage collaboration between industry players, research institutions, and startups to accelerate the adoption and deployment of AI solutions. These initiatives promote a favorable environment for the growth of the generative AI market in the Asia Pacific region. For instance, in September 2023, China launched a USD 40 billion fund to boost its domestic manufacturing of semiconductors, which are critical components for powering advanced AI programs, such as OpenAI's ChatGPT.

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Asia Pacific Generative AI Market Report Highlights

• The software segment accounted for the largest revenue share of 64.7% in 2023 owing to increasing investment in AI and emerging economic indicators

• The diffusion networks segment is expected to witness the fastest growth from 2024 to 2030 due to increasing demand for advanced and diverse generative models capable of synthesizing high-quality and realistic content

• The Natural Language Processing (NLP) segment dominated the market in 2023 owing to rapid rise in popularity of platforms, such as Siri, Alexa, and Google Search

• The multimodal generative model is expected to witness the fastest CAGR from 2024 to 2030 due to the demand for real-time processing of multimodal data is increasing rapidly

• The media & entertainment segment accounted for the largest revenue share in 2023 owing to the demand for GenAI for better advertisement and campaign journalism

• China led the market and is projected to grow at a significant CAGR from 2024 to 2030 due to accelerating adoption across traditional industries and the development of AI computing power

• In February 2024, Microsoft announced a partnership with Sarvam AI, an Indian startup, to support the development of GenAI applications based on voice technology. Sarvam aims to make its Indic voice LLMs available on Microsoft's cloud platform, Azure

Asia Pacific Generative AI Market Segmentation

Grand View Research has segmented the Asia Pacific generative AI market on the basis of component, technology, application, model, end-use, and region:

APAC Gen AI Component Outlook (Revenue, USD Million, 2018 - 2030)

• Software

• Services

APAC Gen AI Technology Outlook (Revenue, USD Million, 2018 - 2030)

• Generative Adversarial Networks (GANs)

• Transformers

• Variational Auto-encoders

• Diffusion Networks

APAC Gen AI Application Outlook (Revenue, USD Million, 2018 - 2030)

• Computer vision

• NLP

• Robotics and Automation

• Content Generation

• Chatbots and Intelligent Virtual Assistants

• Predictive Analytics

• Others

APAC Gen AI Model Outlook (Revenue, USD Million, 2018 - 2030)

• Large Language Models

• Image & Video Generative Models

• Multi-modal Generative Models

• Others

APAC Gen AI End-use Outlook (Revenue, USD Million, 2018 - 2030)

• Media & Entertainment

• BFSI

• IT & Telecommunication

• Healthcare

• Automotive & Transportation

• Gaming

• Others

APAC Gen AI Regional Outlook (Revenue, USD Million, 2018 - 2030)

• Asia Pacific

  • China

  • India

  • Japan

  • Australia

  • South Korea

  • Singapore

List of Key Players of Asia Pacific Generative AI Market

• Huawei Technologies Co., Ltd.

• Alibaba Cloud

• Baidu, Inc.

• Google LLC

• Amazon Web Services, Inc.

• IBM

• Microsoft

• Genie AI Ltd.

• MOSTLY AI Inc.

• D-ID