Global Generative AI Market to Exceed $325 Billion by 2030
Founded in the early days of the second millennium
The Silicon Valley Laboratory’s forecast is based on a meta-analysis of over 35 independent reports.
SAN JOSE, CA, UNITED STATES, December 16, 2024 /EINPresswire.com/ -- The Silicon Valley Laboratory (TSVL) today released a comprehensive report forecasting the global generative artificial intelligence (AI) market to reach a staggering $327 billion by 2030, growing at an impressive compound annual growth rate (CAGR) of 39.1% from 2024 to 2030. These figures emerged from a meta-analysis conducted by TSVL, which reviewed thirty-six independent reports from highly credible sources, including Nvidia, Bloomberg, and McKinsey & Company.
This rapid expansion is driven by the increasing adoption of generative AI across diverse industries, including healthcare, finance, entertainment, and retail. Key drivers of this explosive growth include:
• Technological Advancements: Ongoing breakthroughs in machine learning, natural language processing, and quantum computing.
• Increased Investment: Substantial funding from both private and public sectors to fuel innovation and adoption.
• Wide-Ranging Applications: Design and implementation across diverse sectors such as virtual assistants, drug discovery, knowledge worker automation, and creative design.
• Broad-Based Support: Decrease in concerns and increase in acceptance among the public in the next five years.
“Generative AI is poised to transform industries and reshape the global economy in surprising ways,” said Rowland Chen, Chief Executive Officer of The Silicon Valley Laboratory. “Our work reflects the immense potential of generative AI and its far-reaching impact on society.” Chen points out the wide range of forecasts provided by researchers with a high estimate of $1.5 trillion in 2030. “The devil is in the details. One thing is clear, however. Generative AI is here to stay, and winners in this market will realize explosive growth.”
About The Silicon Valley Laboratory
The Silicon Valley Laboratory is a leading global consulting, education, design, and technology advisory firm dedicated to ethical innovation. TSVL offers tailored services that combine practical insights with proven methods to implement those insights, ensuring clients are well-equipped to lead in a rapidly evolving global environment. TSVL’s virtual team operates in North America, Europe, and Asia.
James Malloy
The Silicon Valley Laboratory Inc.
jmalloy@thesvlab.com
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