Asia Pacific Generative AI Analysis Report 2024: Market to Grow by a CAGR of 37.5% to 2030, Driven by Government Incentives, Popularity of Virtual Assistants, and Strategic Partnerships

DUBLIN, March 26, 2024 /PRNewswire/ -- The "Asia Pacific Generative AI Market Size, Share & Trends Analysis Report By Component (Software, Services), By Technology, By End-use, By Application, By Model, By Region, And Segment Forecasts, 2024 - 2030" report has been added to  ResearchAndMarkets.com's offering.

The Asia Pacific generative AI market is anticipated to reach USD 37.55 billion by 2030 and is anticipated to expand at a CAGR of 37.5% from 2024 to 2030

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.

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

Company Profiles

• Huawei Technologies Co., Ltd.
• Alibaba Cloud
• Baidu, Inc.
• Google LLC,
• IBM
• Microsoft
• Genie AI Ltd
• MOSTLY AI Inc.
• D-ID

Key Topics Covered:

Chapter 1. Methodology and Scope

1.1. Market Segmentation & Scope

1.2. Segment Definitions

1.3. Research Methodology

1.4. Information Procurement

1.5. Information or Data Analysis

1.6. Market Formulation & Validation

1.7. Model Details

Chapter 2. Executive Summary

2.1. Market Outlook

2.2. Segment Outlook

2.3. Competitive Insights

Chapter 3. Asia Pacific Generative AI Market Variables, Trends & Scope

3.1. Market Lineage Outlook

3.1.1. Parent market outlook

3.1.2. Related/ancillary market outlook

3.2. Market Dynamics

3.2.1. Market driver analysis

3.2.1.1. Increasing adoption of digital technologies across industries

3.2.1.2. Growing focus on digital transformation and industry 4.0

3.2.2. Market restraint analysis

3.2.2.1. Increasing data privacy and security concerns

3.2.3. Market opportunity analysis

3.2.3.1. Increasing research and development activities in technology companies

3.3. Generative AI Market Analysis Tools

3.3.1. Industry Analysis - Porter's

3.3.2. PESTEL Analysis

Chapter 4. Asia Pacific Generative AI Market: Component Estimates & Trend Analysis

4.1. Component Market Share, 2023 & 2030

4.2. Segment Dashboard

4.3. Asia Pacific Generative AI Market by Component Outlook

4.4. Market Size & Forecasts and Trend Analyses, 2017 to 2030 for the following

4.4.1. Software

4.4.2. Services

Chapter 5. Asia Pacific Generative AI Market: Technology Estimates & Trend Analysis

5.1. Technology Market Share, 2023 & 2030

5.2. Segment Dashboard

5.3. Asia Pacific Generative AI Market by Technology Outlook

5.4. Market Size & Forecasts and Trend Analyses, 2017 to 2030 for the following

5.4.1. Generative Adversarial Networks (GANs)

5.4.1.1. Market estimates and forecasts 2017 to 2030 (USD Million)

5.4.2. Transformers

5.4.3. Variational Auto-encoders

5.4.4. Diffusion Networks

Chapter 6. Asia Pacific Generative AI Market: End-use Estimates & Trend Analysis

6.1. End-use Market Share, 2023 & 2030

6.2. Segment Dashboard

6.3. Asia Pacific Generative AI Market by Application Outlook

6.4. Market Size & Forecasts and Trend Analyses, 2017 to 2030 for the following

6.4.1. Media & Entertainment

6.4.2. BFSI

6.4.3. IT & Telecommunication

6.4.4. Healthcare

6.4.5. Automotive & Transportation

6.4.6. Gaming

Chapter 7. Asia Pacific Generative AI Market: Application Estimates & Trend Analysis

7.1. Application Market Share, 2023 & 2030

7.2. Segment Dashboard

7.3. Asia Pacific Generative AI Market by Application Outlook

7.4. Market Size & Forecasts and Trend Analyses, 2017 to 2030 for the following

7.4.1. Computer Vision

7.4.1.1. Market estimates and forecasts 2017 to 2030 (USD million)

7.4.2. NLP

7.4.3. Robotics and Automation

7.4.4. Content Generation

7.4.5. Chatbots and Intelligent Virtual Assistants

7.4.6. Predictive Analytics

Chapter 8. Asia Pacific Generative AI Market: Model Estimates & Trend Analysis

8.1. Model Market Share, 2023 & 2030

8.2. Segment Dashboard

8.3. Global Generative AI Market by Model Outlook

8.4. Market Size & Forecasts and Trend Analyses, 2017 to 2030 for the following

8.4.1. Large Language Models

8.4.2. Image & Video Generative Models

8.4.3. Multi-Modal Generative Models

Chapter 9. Asia Pacific Generative AI Market: Regional Estimates & Trend Analysis

9.1. Regional Market Share Analysis, 2023 & 2030

9.2. Regional Market Dashboard

9.3. Global Regional Market Snapshot

9.4. Market Size, & Forecasts Trend Analysis, 2017 to 2030

9.5. Asia Pacific

9.5.1. Asia Pacific Generative AI Market Estimates and Forecasts, 2017 - 2030 (USD Billion)

9.5.2. Japan

9.5.3. China

9.5.4. India

9.5.5. Australia

9.5.6. South Korea

9.5.7. Singapore

Chapter 10. Competitive Landscape

10.1. Recent Developments & Impact Analysis, By Key Market Participants

10.2. Company/Competition Categorization

10.3. Vendor Landscape

10.3.1. List of key distributors and channel partners

10.3.2. Key customers

10.4. Company Profiles

10.4.1. Company overview

10.4.2. Financial performance

10.4.3. Product benchmarking

10.4.4. Strategic initiatives

For more information about this report visit https://www.researchandmarkets.com/r/2e85co

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