Omdia: Generative AI software revenue in Asia and Oceania to exceed $18 billion by 2028
LONDON, April 17, 2024 /PRNewswire/ -- Since ChatGPT emerged, Generative AI (GenAI) development and deployment have been gaining significant momentum in Asia and Oceania, Omdia 's new, Generative AI in Asia & Oceania – 2024: Democratization through localization report indicates that software revenue for GenAI in this region is estimated to be around $3.4 billion by the end of 2024 but is projected to exceed $18 billion by 2028.
- LONDON, April 17, 2024 /PRNewswire/ -- Since ChatGPT emerged, Generative AI (GenAI) development and deployment have been gaining significant momentum in Asia and Oceania, Omdia 's new, Generative AI in Asia & Oceania – 2024: Democratization through localization report indicates that software revenue for GenAI in this region is estimated to be around $3.4 billion by the end of 2024 but is projected to exceed $18 billion by 2028.
- China, Japan, and South Korea stand out as leading examples compared to other markets in the development of GenAI.
- "Asia and Oceania boasts some of the most ambitious vendors in the AI industry building full-stack solutions.
- Omdia notes that most organizations in Asia and Oceania lack expertise in GenAI development and struggle to compete with major technology vendors and startups for AI talent.