Behind the Explosion of DeepSeek, Institutions Predict the Chinese Generative AI Market Will Reach $9.8 Billion by 2029

AIbase基地

Published inAI News · 4 min read · Feb 7, 2025

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The market research firm Omdia has released a report indicating that China's generative artificial intelligence (GenAI) software market is experiencing rapid growth. The report shows that by 2024, China's GenAI software revenue is expected to reach $1.8 billion, approximately 13.1 billion yuan. This market is still in its early stages, but it has significant growth potential over the next five years, with the market size projected to increase 5.5 times, reaching $9.8 billion, or about 71.4 billion yuan, by 2029.

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Omdia's report emphasizes that the application scenarios for generative AI technology are continuously expanding and will encompass more industries and fields in the future. The revenue data does not include other key technologies such as AI training and inference chips, servers, data center construction, and related revenues from GenAI development platforms.

As we enter 2024, major vendors will further advance the development of intelligent agent capabilities, including multimodal large models, multi-agent collaboration, retrieval-augmented generation (RAG) supporting various data types, and smaller, more efficient industry models, with DeepSeek being a notable leader in this area.

In the enterprise market, many Chinese GenAI solution providers are focusing on commercial applications, with the development of intelligent agents becoming a new growth point. Major tech companies such as Alibaba, Baidu, Huawei, and Tencent are providing intelligent agent development platforms and ready-made application templates for enterprise clients, aiming to reduce the cost of large model inference and enhance the convenience of use for businesses.

Key Points:
🌟 By 2024, China's generative AI software market revenue is expected to reach $1.8 billion, increasing to $9.8 billion by 2029.
🚀 Over the next five years, the market size will grow 5.5 times, driving the digital transformation of enterprises.
🤖 Major vendors are actively developing intelligent agent technologies and providing various application solutions to meet enterprise needs.

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