Overview
- Counterpoint forecasts consumer spending on generative AI to rise from $225 billion in 2023 to $699 billion in 2030, a 21% compound annual growth rate.
- On hardware, shipments of GenAI-capable smartphones are projected to grow at roughly 26% CAGR, with related revenue expanding about 16% CAGR.
- On software and services, monthly active users of AI chatbots could increase by nearly 5 billion, with personal assistants and content-generation tools identified as major growth drivers.
- The firm expects OpenAI to retain the largest user base, while Google and Microsoft are projected to record the fastest gains in mobile GenAI users.
- In parallel industry developments, China’s 1 GW offshore photovoltaic project reached full grid connection, and Kawasaki Heavy Industries disclosed decades-long falsification of fuel-performance data for 66 submarine engines.