Source: Wall Street News Author: Li Dan
The Bloomberg Industry Research report predicts that by 2032, the revenue of the generative AI market will be 32.5 times that of last year. Amazon, Google's parent company Alphabet, Nvidia, and Microsoft are all likely big winners in the AI boom.
The introduction of ChatGPT at the end of November last year gave a dose of stimulant to the artificial intelligence (AI) industry, and the entire industry entered a stage of rapid development.
According to a recent Bloomberg Industry Research (Bloomberg Intelligence) report, the power of ChatGPT is not limited to that; it will usher in a decade of prosperity for the generative AI market. Amazon's cloud business, Google's parent company Alphabet, Nvidia, and Microsoft are all likely big winners in this era of AI boom.
On Wednesday this week, news broke that Microsoft is increasing its investment in the AI field. According to the media, Microsoft and Nvidia's startup CoreWeave, which previously invested 100 million US dollars, have signed an AI computing power agreement, which may be worth several billion dollars. CoreWeave was valued at $2 billion in April this year, and just announced $200 million in financing at the end of May.
The Bloomberg industry research report mentioned above predicts that by 2032, that is, nine years from now, the revenue of the generative AI market will reach 1.3 trillion US dollars, 32.5 times that of last year's revenue of 40 billion US dollars.
The report said that in the next ten years, the generative AI industry will experience explosive growth, which is expected to fundamentally change the way the AI industry operates. Generative AI technology will become an increasingly important component of IT and ad spend and cybersecurity.
The report estimates that the generative AI industry could expand at a rate of 42% within the next ten years. The entire industry will first be driven by infrastructure requirements necessary to train AI systems. By 2032, business revenue in this area will reach 247 billion US dollars. Then, the growth impetus will come from equipment that uses AI models, advertising and other services. By 2032, the revenue of AI-supported digital advertising business will reach 1920 billion US dollars, and the revenue of AI servers may reach 134 billion US dollars.
Although the above report does not specifically break down revenue forecasts for various countries and regions, IDC, a well-known technology and telecommunications industry consulting agency, has previously outlined broad prospects for the size of China's AI market.
When IDC released the “2023 V1 Global Artificial Intelligence Spending Guide” at the end of March this year, it predicted that China's AI market spending would increase to 14.75 billion US dollars this year, accounting for about one-tenth of the world's total scale.
IDC also predicts that by 2026, the Chinese AI market will reach a market size of 26.44 billion US dollars, 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, AI software spending will increase to 7.69 billion US dollars, accounting for about 29% of the total market size, an increase of 10 percentage points over 2021.
In the long run, IDC believes that innovative iterations of AI technology have driven the further implementation of application scenarios, and that hot spots represented by AIGC, digital people, multi-modality, large AI models, and intelligent decision-making have brought more imagination and possibilities to the market. At the same time, enterprises' active promotion of their own “digital” and “digital intelligence” transformation has spawned diversified demand for AI technology, laying the foundation for long-term growth in the size of China's AI market.
edit/lambor