China's Generative Artificial Intelligence (GenAI) software market is ushering in unprecedented development opportunities. According to the latest report by market research firm Omdia, this market will see explosive growth in the next few years, driving the digital transformation of enterprises and having far-reaching impacts on various industries.
Market research firm Omdia released a report pointing out that China's Generative Artificial Intelligence (GenAI) software market is ushering in rapid growth. According to the report, China's GenAI software revenue is expected to reach US$1.8 billion, or approximately RMB 13.1 billion by 2024. This market is still in its infancy, but it has huge development potential in the next five years, with the market size increasing by 5.5 times. It is expected that by 2029, the market size will grow to US$9.8 billion, or approximately RMB 71.4 billion.
Omdia's report emphasizes that the application scenarios of generative AI technology are constantly expanding and will cover more industries and fields in the future. This revenue data does not include revenue related to other key technologies such as AI training and inference chips, servers, data center construction and GenAI development platform.
Entering 2024, major manufacturers will further promote the development of agent capabilities, including multi-modal large models, multi-agent collaboration, retrieval enhancement generation (RAG) that supports multiple data types, and smaller and more efficient industry models. , the best among them is DeepSeek.
In the enterprise market, many Chinese GenAI solution suppliers are turning their attention to commercial applications, and the development of agents has become a new growth point. Major technology companies such as Alibaba, Baidu, Huawei and Tencent are providing enterprise customers with intelligent development platforms and ready-made application templates, aiming to reduce the cost of large-scale model reasoning and improve the convenience of enterprises to use.
Key points:
It is estimated that by 2024, China's generative AI software market revenue will reach US$1.8 billion and will increase to US$9.8 billion in 2029.
In the next five years, the market size will grow by 5.5 times, promoting the digital transformation of enterprises.
Major manufacturers are actively developing intelligent technology and providing a variety of application solutions to meet the needs of enterprises.
With the continuous advancement of generative AI technology, China's GenAI market will usher in broader development prospects, helping enterprises seize the initiative in digital transformation.