By: Amir Taha
Although the United States is home to the world's largest AI giants, Apple, Microsoft, Nvidia, Alphabet, Meta, and Tesla, which continue shaping the global AI landscape, the US artificial intelligence industry is not the largest or the fastest growing.
According to data presented by Altindex.com, Asia has the fastest-growing AI industry globally; its revenue is expected to surge by 351% and hit almost $300 billion by 2030.
Asian AI Market will Outpace the Global AI Industry
The Asian artificial intelligence industry has skyrocketed over the past years, becoming the major player in the global AI landscape. Since 2020, the entire market has more than doubled, growing faster than European, North American or the global market, and there are many reasons for that.
China, South Korea, and Japan have implemented national AI strategies and invested heavily in AI research and development, helping cities like Beijing, Tokyo, Shanghai, and Seoul become global innovation hubs. Asian AI startups have also played a significant role in the industry's growth, attracting huge attention from VC investors. This surge in interest followed heavy investments in AI research and development from tech giants like Tencent, SoftBank, Alibaba, and Samsung, which have paved the way for an AI startup ecosystem in the region.
Furthermore, Asia boasts some of the world's top universities and research institutions producing skilled AI professionals, while its workforce is trained in AI technologies, helping it retain its position as the global AI leader by the end of a decade.
According to a Statista survey, the Asian AI industry's revenue will skyrocket by 351% and hit $298.4 billion by 2030, outpacing even the global AI market's growth, which is expected to surge by 349% in this period. The North American and European AI industries will also see smaller growth rates, with their revenues jumping by 346% and 349% in the next six years, respectively.
The Statista data also showed that Asia will see the biggest user growth in the AI space, with the total number of people using AI tools rising by 150% to 180 million in 2030. Still, that is nearly 60 million short compared to the North American market, which is expected to see its AI user base jump by 115% to 268 million in this period. Europe will also have more AI users by 2030 than Asia, roughly 229 million, or 134% more than this year.
AI to Add 6.7% to Asian GDP Growth by 2030, 5x more than this Year
As a major driver of economic growth and transformation in Assia, AI will have a huge and long-lasting positive impact on the region's GDP growth. According to Statista, artificial intelligence could add 6.7% to Asian GDP growth by 2030, or five times more than this year.
Other regions will see a similar increase. The impact of the North American AI market on GDP is forecasted to grow from 2.2% to 10.5% in this period, followed by Europe's increase from 1.8% to 9.7%. Overall, the AI industry is expected to add 8.8% to global GDP growth by 2030, up from 1.7% this year.
