The generative AI market is predicted to reach $17.41 billion by the end of 2024. It has dramatically grown over the past years and has gained tremendous importance in today’s AI-centered society.
Plus, most industries and businesses look forward to adapting the generative AI technology in their workflows.
Are you one of them?
In this article, I have provided detailed insights into generative AI. These facts and figures will help you to understand the latest trends in the field that will boost your business, and simplify your workflow.
So without further delay, let’s take a look at the top generative AI statistics.
Generative AI Statistics 2024: In a Nutshell
- The generative AI market was worth $13.17 million as of 2023. By the end of the year 2024, it is expected to reach a worth of $17.41 billion.
- North America amounts to 41% of the revenue share of generative AI.
- Presently, the Asia Pacific region owns 22% of the revenue share of generative AI. It is expected to have 27.6% of CAGR between the years 2023 and 2032.
- 34% of the generative AI market share belongs to the media and entertainment industry.
- More than 37% of businesses in the marketing and advertising industries have adopted generative AI in their workplaces.
- 29% of the GenZ generation are found to have adopted generative AI technology in their workplace. At the same time, 28% of the GenX generation has adopted generative AI at their workplace.
Generative AI Market Size 2024
- In the year 2024, the generative AI market size is predicted to reach $17.41 billion.
Further, the market size is expected to reach $ 118.06 billion by the end of the year 2032. The CAGR of the generative market is predicted to be 27.02% between the years 2023 and 2032.
Here is a table displaying the Market size of Generative AI over the years.
| Year | The market size of Generative AI |
|---|---|
| 2022 | $10.79 billion. |
| 2023 | $13.71 billion |
| 2024* | $17.41 billion |
| 2025* | $22.12 billion. |
| 2026* | $28.1 billion |
| 2027* | $35.69 billion |
| 2028* | $45.34 billion |
| 2029* | $57.6 billion |
| 2030* | $73.16 billion |
| 2031* | $92.94 billion. |
| 2032* | $118.06 billion |
- The Asia Pacific market is expected to have a CAGR of 27.6% from 2023 to 2032.
Source: Precedence research.
Generative AI Market Share 2024
- 41% revenue share of Generative AI was recorded in North America.
North America is the home for most of the key players of Generative AI, And most of the revenue share of the market is generated from this region.
Comparatively, Europe owns a market share of 26%, and Latin America holds a market share of 8% as of 2022.
The following table displays the market share of generative AI recorded in various regions.
| Region | Generative AI Market share |
|---|---|
| Asia Pacific | 22% |
| Europe | 26% |
| North America | 41% |
| Latin America | 8% |
| MEA | 3% |
Source: Precedence research
Generative AI Market
- The software segment had a generative AI market share of 65.50% as of 2022.
The remaining market share of 34.95 % belonged to the hardware segment.
- The transformers segment accounted for 42% of the market share as of 2022.
- Media and entertainment segment accounted for 34% of the market share.
At the same time, the automotive and transportation segment had a market share of 22%.
In contrast, the business and financial services amounted to more than 14% of the Generative AI market share. It is expected to grow at the fastest rate of 36.4% between the years 2023 to 2032.
The following table displays the approximate market share of different segments according to the end use.
| Segment | Market share of the segment |
|---|---|
| Media and entertainment | 34% |
| Automotive and transportation | 22% |
| Business and financial services | 14% |
| Health care | 13% |
| IT and telecommunication | 13% |
| Others | 4% |
Source: Precedence research
Generative AI Adoption
- 37% of the marketing and advertisement industry has adopted generative AI in their marketplace.
At the same time, 35% of the technology industry has adopted generative AI in their workplace. In contrast, only 15% of the people in the healthcare industry have adopted generative AI in their workplace.
The following table displays the generative AI adoption rate in different sectors in the United States as of 2023.
| Industry | Rate of Generative AI Adoption in Workplace |
|---|---|
| Marketing and Advertising | 37% |
| Technology | 35% |
| Consulting | 30% |
| Teaching | 19% |
| Accounting | 16% |
| Healthcare | 15% |
Source: Statista
- 29% of the GenZ generation have adopted Generative AI in their workplace in the United States.
While 28% of the GenX generation have adopted the technology in their workplace, 27% of the Millenials could adopt it while working.
The following table displays the adoption rate of generative AI in workplaces in the United States as of 2023.
| Generation | The adoption rate of Generative AI |
|---|---|
| Gen Z | 29% |
| Gen X | 28% |
| Millennials | 27% |
Source: Statista
- The adoption rate of AI is expected to increase tremendously in product development companies worldwide between the years 2022 and 2025.
Comparatively, the companies operating in the sector today exhibit only the limited adoption of AI.
Here is a table displaying the adoption of AI in the product development business in the years 2022 and 2025.
| Adoption of AI in product development | 2025 | 2022 |
|---|---|---|
| Not Using | 2% | 6% |
| Piloting use cases | 13% | 17% |
| Limited adoption | 18% | 42% |
| Widescale adoption | 46% | 23% |
| AI is critical | 21% | 11% |
Source: Statista
Key Players in the Generative AI Market
Some of the key players in the generative AI market are created by companies like OpenAI, Midjourney, Lightricks, Hugging Face, Jasper, Glean, Stability AI, etc. They have developed technologies like ChatGPT, Bard, JasperAI, Midjouney, etc.
In this section, I have provided some facts and figures related to these generative AI technologies. For detailed stats on these, you can check out our website.
ChatGPT
One of the most popular generative AI technologies today is ChatGPT. It gained one million users just within two days of its launch. Here are some of the latest facts and figures related to ChatGPT.
- ChatGPT took just two months to cross 100 million users.
Looking from this perspective, TikTok took just nine months to reach the milestone of 100 million users, while Facebook requires 4.5 years to cross the same.
- ChatGPT has more than 1.9 billion page visits as of 2023.
In May 2023, ChatGPT surpassed 1.9 billion website visitors. Comparatively, in November 2023, the website had just 152.7 million visitors.
The following table displays the number of visitors recorded on the ChatGPT website.
| Month | Number of visitors on ChatGPT website |
|---|---|
| May 2023 | 1.9 billion |
| April 2023 | 1.8 billion |
| March 2023 | 1.6 billion |
| February 2023 | 1 billion |
| January 2023 | 616 million |
| December 2022 | 266 million |
| November 2022 | 152.7 million |
- 88.43% of the traffic on ChatGPT is direct traffic.
ChatGPT receives traffic from various sources, but the top source is direct traffic. The second most significant source of traffic on ChatGPT is Social Media, with 4.22% of traffic directed from it.
Here is a table displaying the sources of traffic for ChatGPT.
| Traffic sources for ChatGPT | Percentage of traffic |
|---|---|
| Direct | 88.43% |
| Social | 4.22% |
| Organic Search | 3.79% |
| 2.75% | |
| Referral | 0.76% |
| Display | 0.03% |
| Paid Search | Less than 0.01% |
Note: For more facts and figures on ChatGPT, check out ChatGPT Statistics.
Midjourney
Midjourney is an image-generating AI technology. It generates images according to the prompts provided by the users. To use Midjourney, one will have to join its Discord Channel first.
Midjourney’s discord channel has more than 14.5 million registered members, and 7.5% of them are active at any given time. Let’s take a closer look at the Midjourney statistics in this section.
- Midjourney has 35.5 million total monthly visits as of May 2023.
Comparatively, the number of total visitors recorded on Midjourney in April 2023 was 42.7 million.
The following table displays the number of visitors recorded on Midjourney over past months.
| Month | Number of monthly visitors recorded |
|---|---|
| May 2023 | 35.5 million |
| April 2023 | 42.7 million |
| March 2023 | 41.4 million |
| February 2023 | 31.6 million |
| January 2023 | 29.1 million |
Source: SimilarWeb
- Midjourney discord server has more than 15 million total users.
It reached almost 10 million users in April 2023. Comparatively, in February, it had less than 5 million users.
- The highest percentage of Midjourney users resides in the United States.
17.24% of the Midjourney users are from the United States. The second state with the most users is Brazil, with 4.98% of the Midjourney users belonging to the country.
The following table displays the percentage of Midjourney users that reside in different countries.
| Country | Percentage of Midjourney users |
|---|---|
| United States | 17.24% |
| Brazil | 4.98% |
| India | 4.94% |
| Germany | 4.30% |
| United Kingdom | 4.16% |
| Others | 64.37% |
Source: SimilarWeb
Also Read: Similar platforms like Midjourney
Jasper
Jasper is an AI-generative platform that provides users with tools to generate content, images, etc. You just need to provide an appropriate prompt to generate the text or image as required. If you want to know what Jasper is capable of, check out these reviews:
Here are some statistics related to Jasper AI.
- Jasper had 6.1 million monthly visitors in May 2023.
Comparatively, in March 2023, it had 8.7 million monthly visitors. This number declined to 7.2 million monthly visitors.
The following table displays the number of monthly visitors recorded on JasperAI over the past months.
| Month | Number of monthly visitors |
|---|---|
| May 2023 | 6.1 million |
| April 2023 | 7.2 million |
| Mar 2023 | 8.7 million |
Source: SimilarWeb
- 31.11% of the people in the United States use JasperAI as of 2023.
The highest number of people that use Jasper AI resides in the United States. It is followed by Brazil, with 5.71% of the people using Jasper AI.
The following table displays the top countries that use JasperAI.
| Country | Percentage of users |
|---|---|
| United States | 31.11% |
| Brazil | 5.71% |
| India | 4.41% |
| United Kingdom | 3.51% |
| Colombia | 3.03% |
| Others | 52.23% |
Source: SimilarWeb
- Majority of Jasper users are male.
60.91% of the JasperAI users are recorded to be male users. At the same time, 39.09% of the Jasper users are female.
The following table displays the number of male and female users of JasperAI.
| Gender | Percentage of Jasper users |
|---|---|
| Male | 60.91% |
| Female | 39.09% |
Source: SimilarWeb
- The highest percentage of Jasper users lies in the age group of 25 to 34 years.
36.73% of the JasperAI users belong to the age group of 25 years to 34 years. The next age group with the most JasperAI users is 18 to 24 years.
The following table displays the percentage of JasperAI users that fall into different age groups.
| Age group | Percentage of JasperAi users |
|---|---|
| 18 to 24 years | 25.71% |
| 25 to 34 years | 36.73% |
| 35 to 44 years | 18.85% |
| 45 to 44 years | 10.0% |
| 55 to 54 years | 5.52% |
| More than 65 years | 3.18% |
Source: SimilarWeb
Bard
Google launched Bard soon after OpenAI released ChatGPT. However, until May 2023, Bard lagged far behind in the competition. But with proper changes and updates, it is now in competition with ChatGPT.
Here are some of the facts and figures related to Google Bard.
- The number of visitors on Google Bard drastically increased in May 2023.
The number of visitors recorded on Google Bard in May 2023 was 142.6 million. Comparatively, the number of visits on Google Bard in April 2023 was 49.7 million.
Here is a table displaying the number of visits recorded on Google Bard over the past months.
| Month | Number of visits on Google Bard |
|---|---|
| May 2023 | 142.6 million |
| April 2023 | 49.7 million |
| March 2023 | 30.6 million. |
Source: SimilarWeb
- 36.94% of Google Bard users are from the United States.
The majority of the Bard users are from the United States. Japan has the second-highest percentage of Google Bard users, with 8.08% of the Bard users belonging to the country.
The following table displays the percentage of Bard users that belong to different countries.
| Country | Percentage of Bard Users |
|---|---|
| United States | 36.94% |
| Japan | 8.08% |
| India | 6.58% |
| United Kingdom | 5.76% |
| South Korea | 3.55% |
| Other Countries | 39.20% |
- 67.72% of the traffic received on Google Bard is direct traffic.
Google Bard receives traffic from various sources; however, most traffic is recorded as direct Traffic. At the same time, 24.71% of the traffic is found to be organic traffic.
The following table displays the type of traffic received on Google Bard over time.
| Source of traffic | Percentage of traffic received by Google Bard |
|---|---|
| Direct Traffic | 67.72% |
| Organic search | 24.71% |
| Referrals | 4.88% |
| Paid search | 0.53% |
| Social | 2.05% |
| 0.10% | |
| Display | 0.01% |
Source: SimilarWeb.
Other Generative AI Statistics
- McKinsey said that almost 50% of its employees use ChatGPT and other generative AI tools.
As of June 2023, McKinsey has approximately 30,000 employees across 67 countries. This means around 15,000 employees there use generative AI tools.
- In a recent survey, Altman Solon stated that 25% of the companies in the United States are utilizing generative AI tools.
- According to the State of AI report, Generative audio tools will attract more than 1,00,000 developers by September 2023.
- By the end of the year 2025, Gartner stated that almost 30% of newly discovered drugs would be found with the help of AI.
- The prime minister of Japan stated that the country is openly supporting the usage of Generative AI like ChatGPT for industrial work in April 2023.
Additionally, Micron Technology announced that they are investing approximately $3.6 million in Japan, focusing on the innovation of generative AI chips in Japan. They have received close support from the Japanese government.
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