The generative AI market is experiencing explosive growth, and major institutions are predicting that it will bring huge benefits in the next decade. From the rise of the technology in 2023, to the expected starting point of monetization growth in 2024, to the expected market size of $100 billion in 2028, and the astonishing prediction that it may reach $1.3 trillion in the next decade, it all bodes well for generative AI. It will profoundly change many industries such as IT, advertising and network security. This wave is reflected not only in forecasts of market size, but also in its potentially disruptive impact on the way the global technology industry operates.
In 2023, generative AI technology will rise, and the market is predicted to reach US$100 billion by 2028. The CEO emphasized the initial profit potential, which IDC and Bloomberg reports predict will reach $1.3 trillion over the next decade. 2024 is expected to be the starting point for GenAI monetization growth. IDC predicts that GenAI solution spending will reach US$143 billion by 2027. Bloomberg research shows that the market may surge to US$1.3 trillion in the next ten years. Generative AI will become an important part of IT spending, advertising spending and network security, and the world will usher in explosive changes in the way the technology industry operates.To sum up, the booming development of generative AI is unstoppable, and its huge market potential and profound impact on various industries deserve our continued attention. In the future, the application scenarios of generative AI technology will be further expanded, bringing more innovation and opportunities to all walks of life. This is undoubtedly an era full of challenges and opportunities.