Australia: generative AI market size 2030

Australia's generative artificial intelligence (AI) market is still in its early days, generating just shy of 922 million U.S. dollars in 2023. Nonetheless, the country's generative AI market is expected to evolve into a billion-dollar market, skyrocketing to an estimated 4.2 billion U.S. dollars in 2030, more than quadrupling in size from 2023.

Market size of the generative artificial intelligence (AI) market in Australia from 2020 to 2030 (in million U.S. dollars)

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Supplementary notes

Data provided by Statista Market Insights are estimates.

Definition:
Generative artificial intelligence (AI) is a field of artificial intelligence that focuses on creating models and systems capable of generating new content, such as images, videos, music, or text. By training on large datasets, generative AI models learn patterns and structures within the data to produce novel and realistic outputs that mimic the original data distribution. Using techniques like generative adversarial networks (GANs) or variational autoencoders (VAEs), generative AI has the potential to enhance creativity, enable data synthesis, and revolutionize various industries including art, entertainment, and content creation.

Additional Information:

The market comprises two key performance indicators: market sizes, and market sizes by industry. Market sizes are generated by the funding amount of Generative Artificial Intelligence companies. Key players of the market include companies such as Open AI, NVIDIA DeepL Learning and Google (Magenta, DeepDream).

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