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According to a recent Gartner report, global spending on generative AI is projected to reach $644 billion by 2025, a 76.4% increase from 2024. This significant growth reflects the rising adoption of generative AI by businesses. The report indicates that hardware will constitute a substantial portion of the generative AI spending in 2025. (Image generated by AI; image licensing provided by Midjourney)

In the fourth quarter of 2023, global spending on cloud infrastructure services grew by 19% year-over-year, reaching $78.1 billion. The top three cloud providers, AWS, Microsoft Azure, and Google Cloud, accounted for 66% of total spending. Global spending on cloud infrastructure services is expected to grow by 20% in 2024. Leading cloud providers are increasing investments in generative AI to meet the rising demand.

The generative AI market is expected to reach $136 billion by 2031, with a compound annual growth rate (CAGR) of 33.2%. North America is the largest market, followed by Europe and the Asia-Pacific region, with rapid growth in the healthcare, media, and entertainment sectors. Generative AI has wide-ranging applications across multiple fields, including art design and healthcare, indicating a positive market outlook. The global market growth is driven by innovations in cloud storage and government initiatives, and generative AI is set to continue its expansion in the future.

In 2023, the global genomics artificial intelligence market size reached $11.5 billion and is expected to reach $19.72 billion by 2030, with a compound annual growth rate of 50.1%. The surge in genomic data is driving the application of AI in genomics, accelerating drug discovery and diagnostics, while reducing costs. Increased awareness among medical professionals and the public about the potential benefits of AI in genomics is propelling market demand. During the forecast period, on-premise delivery models are expected to dominate the global genomics artificial intelligence market.

The global AI medical imaging market is projected to reach $29.8 billion by 2032. North America holds the largest market share, but the Asia-Pacific region is expected to grow the fastest. Applications of artificial intelligence in radiology and the demand for CT scans are driving market growth. Deep learning and computer vision are the primary technologies, with breast imaging and orthopedic applications being dominant.

Canalys predicts that the shipment of AI-compatible personal computers will reach 175 million units by 2027, accounting for over 60%. Dedicated AI chipsets are key to supporting AI personal computers, and major chip manufacturers are accelerating the launch of AI-optimized processors. The demand for high-performance components such as storage, memory, and GPUs will also grow as AI tools upgrade. In 2023, Apple will be the first manufacturer to produce 100% AI personal computers. In 2024, AMD and Intel will accelerate the enhancement of AI capabilities in personal computers.

According to Gartner, the global semiconductor sales revenue for executing AI workloads is expected to grow by 20.9% year-over-year in 2023, reaching $53.4 billion. By 2027, AI chip revenue is expected to more than double compared to the market size in 2023, reaching $119.4 billion. Many industries and IT organizations will deploy systems containing AI chips as the use of AI workloads within enterprises matures.