With the ability to generate different types of content, including text, imagery, and audio, generative AI is transforming modern content creation methodologies.
Equipped with quick and creative data, generative AI now competes with human minds and sometimes beats us.
Gen AI quickly solidified its value among users and is being adopted in various major sectors, from marketing to healthcare.
This article will highlight some of the most important statistics about Gen AI adoption, usage, and financials.
Generative AI Statistics 2024: Key Takeaways
- The generative AI market will be valued at $17.7 billion in 2024.
- 60% of the organizations have adopted generative AI.
- 45% of the United States population uses generative AI.
- ChatGPT is used by 55% of marketers who create content with generative AI.
- Over 314 million people will use Gen AI tools in 2024.
- Gen Z And Millenials make up 65% of generative AI users.
Generative AI Financial Statistics
Due to the latest forthcoming AI technologies, the AI industry has received the most investments recently.
The increased use of Gen AI tools in almost every industry has elevated the industry’s worth in return.
Gen AI has been around for a small amount of time however, it has already found its application in multiple industries.
35% of the companies have already adopted AI in some form, and investments in generative AI have increased significantly in recent times.
This section will brief you on the financial statistics of generative AI.
The Generative AI Market Will Be Valued At $17.7 Billion In 2024
The generative AI market was valued at over $13.9 billion in 2023; the market grew by $3.3 billion from 2022 to 2023.
Growing at a CAGR of around 31.4% between 2023 and 2032, the Gen AI market is expected to reach $151.9 billion in value by 2032.
The generative AI market is estimated to grow by $3.8 billion and reach $17.7 billion in 2024.
Here is a breakdown of the generative AI market size over the years:
| Year | Generative AI market Size |
| 2022 | $10.6 billion |
| 2023 | $13.9 billion |
| 2024* | $17.7 billion |
| 2025* | $24.8 billion |
| 2026* | $33.6 billion |
| 2027* | $42.7 billion |
| 2028* | $51 billion |
| 2029* | $67 billion |
| 2030* | $85.3 billion |
| 2031* | $112.1 billion |
| 2032* | $151.9 billion |
Source: Market.US * Projected numbers considering a CAGR of 31.4%
Gen AI Industry Revenue Is Expected To Reach $137 Billion In 2024
With the introduction of Gen AI tools like ChatGPT, Google Gemini, and Midjourney, the generative AI industry generated around $67 billion in revenue in 2023.
The gen AI industry revenue is expected to rise by over 1839.55% between 2023 and 2032 and reach over $1.3 trillion by the end of the period.
Here is a table with the expected timeline of gen AI industry revenue:
| Year | Generative AI Industry Revenue |
| 2020 | $14 billion |
| 2021 | $23 billion |
| 2022 | $40 billion |
| 2023 | $67 billion |
| 2024* | $137 billion |
| 2025* | $217 billion |
| 2026* | $304 billion |
| 2027* | $399 billion |
| 2028* | $548 billion |
| 2029* | $728 billion |
| 2030* | $897 billion |
| 2031* | $1.07 trillion |
| 2032* | $1.30 trillion |
Source: Statista *Projected numbers
Generative AI Equity Funding Reached $14.1 Billion In 2023
Generative AI funding skyrocketed with 86 deals in the first half of 2023.
OpenAI raised the most significant chunk of funding by raising $10 billion in the corporate minority round.
Inflection, a personalized assistant AI chatbot, raised around $1.3 billion through series B funding, and Anthropic raised $850 million funding.
Take a look at the top Gen AI start-up fundings:
| Gen AI Startup | Funding |
| OpenAI | $10 billion |
| Inflection | $1.3 billion |
| Anthropic | $850 million |
| Adept | $350 million |
| Cohere | $270 million |
Source: CBInsights
Generative AI Adoption Statistics
Globally, 35% of companies have adopted AI, and generative AI tools are currently the most used AI technology in 2024.
The gen AI tools are getting more training data, and new AI models are coming out with more enhanced and efficient features.
In this section, let us explore how the adoption of generative AI has increased in various industries.
60% Of The Organizations Have Adopted Generative AI
AI adoption has spiked in the last 3 years, and more companies are adopting AI in various departments.
About 60% of organizations have reported adopting AI are utilizing generation AI, and 40% of those companies plan to invest more in AI due to gen AI.
In addition, 28% reported using generative AI is already on their board’s agenda.
Source: McKinsey
45% Of The United States Population Is Using Generative AI
A survey from Salesforce revealed that 73% of the Indian population uses generative AI.
Meanwhile, 49% of Australians reported using generative AI.
Nearly 29% of people from the United Kingdom use generative AI at some point.
Source: Salesforce
37% Of The United States Marketing Professionals Use Generative AI
A 2023 survey conducted on working professionals in the United States found that people in marketing and advertising utilized generative AI the most.
Over 35% of employees working in technology used generative AI, and 30% of employees working in consulting used generative AI for their tasks.
15% of healthcare and 19% of teaching professionals utilized generative AI in their work.
Here is a table with the rate of generative AI adoption in the United States workplace:
| Industry | Percentage Of Workers Adopting Gen AI |
| Marketing and advertising | 37% |
| Technology | 35% |
| Consulting | 30% |
| Teaching | 19% |
| Accounting | 16% |
| Healthcare | 15% |
Source: Statista
Generative AI In Marketing Statistics
The most prevalent application of generative AI has been in marketing. Gen AI has helped marketers track and analyze their campaigns more effectively.
This section will cover statistics about the use of generative AI in the marketing field.
44% Of Marketers Use Generative AI To Create Email Copy
Email campaigns are the most effective yet tiring task for marketers. Gen AI has facilitated the creation of email copies more efficiently.
To avoid repetitive tasks like creating email copies, around 44% of marketers use generative AI, and 42% use generative AI to create social media content.
35% of marketers used Gen AI for SEO content, and 33% used it to generate blog posts.
Here is a table with marketing purposes for which professionals are using generative AI in the United States:
| Marketing Purpose | Percentage Of Marketers Using Gen AI |
| Email copy | 44% |
| Social media copy | 42% |
| Social media images | 39% |
| Customer chatbots | 37% |
| Website images | 36% |
| SEO content | 35% |
| Blog posts | 33% |
| Marketing or sales collateral | 33% |
Source: Statista
ChatGPT Is Used By 55% Of Marketers Who Create Content With Generative AI
ChatGPT has taken the world by storm with its best-in-class Gen AI model, which millions of users use daily.
A survey by Botco indicated that more than 73% of marketers use AI for content creation. Out of the 73% surveyed, over half of marketers use ChatGPT, and 42% use Copy.ai.
Jasper.ai is used by 36% of marketers, and 29% use Peppertype.ai for marketing purposes.
Here is a table with top Gen AI tools used by marketers:
| Gen AI Tool | Percentage Of Marketers |
| ChatGPT | 55% |
| Copy.ai | 42% |
| Jasper.ai | 36% |
| Peppertype.ai | 29% |
| Lensa | 28% |
| Dall-E | 25% |
| MidJourney | 24% |
Source: Botco
66% Of Marketers Experienced Improved ROI By Using Gen AI
Around 58% of marketers reported improved performance by using Gen AI. The ease of personalization through generative AI has attracted several marketers to utilize it for better performance.
Generative AI resulted in better ROI for 66% of marketers and several experienced up to 3 times more ROI than traditional campaigns.
Further, 50% of marketers also reported better cost efficiencies.
Source: Spiceworks
Generative AI Usage Statistics
The efficient and time-saving capability of generative AI has proved useful in very little time.
Since the launch of ChatGPT, more than 180 million people have been using it monthly for various tasks.
In this section, we will explore the usage statistics of generative AI.
More Than 314 Million People Will Use Gen AI Tools In 2024
ChatGPT’s 100 million daily active users are evidence of the popularity of generative AI tools.
There were about 115 million Gen AI tools users in 2020, which increased to 254 million in 2023.
With new generative AI tools gaining popularity recently, it is expected that there will be 729 million Gen AI users by 2030.
Here is a table with the number of Gen AI users over the years:
| Year | Number Of Users |
| 2020 | 115.91 million |
| 2021 | 154.26 million |
| 2022 | 201.38 million |
| 2023 | 254.78 million |
| 2024* | 314.38 million |
| 2025* | 378.8 million |
| 2026* | 451.82 million |
| 2027* | 529.77 million |
| 2028* | 605.94 million |
| 2029* | 673.83 million |
| 2030* | 729.11 million |
Source: Statista * Projected numbers
Gen Z And Millenials Make Up 65% Of Generative AI Users
AI has been adopted and used majorly by the younger generations.
70% of Generation Z reported using the Gen AI technology, and 52% believed in its ability to assist them in making informed decisions.
About 65% of generative AI users are Millennials or Gen Z, while 68% of non-users are Gen X or Baby Boomers
Source: Salesforce
86% Of IT Leaders Anticipate A Significant Role For Generative AI Shortly
Since generative AI tools generate executable and optimized codes and help solve complex problems efficiently, they are now being integrated into the IT infrastructure.
Over 2 million developers and around 92% of Fortune 500 companies use ChatGPT.
Due to the benefits and ease of workflow, most IT managers believe generative AI will only increase with time.
Source: Salesforce
ChatGPT Has A 19.73% Share Of Generative AI Text Tools Globally
Gen AI is widely used for text generation. ChatGPT has captured the largest share of AI text tools globally, and Jasper Chat comes in second with a 13.42% share.
Other Gen AI text tools like DeepL and Simplified have 12.14% and 9.74% share, respectively.
Here is a table with the top Gen AI text tools market share:
| AI Tool | Market Share |
| ChatGPT | 19.73% |
| Jasper Chat | 13.42% |
| YouChat | 12.28% |
| DeepL | 12.14% |
| Simplified | 9.74% |
| Neuroflash | 9.37% |
| Writesonic | 8.73% |
| Typehero | 7.48% |
| Perplexity | 7.1% |
Source: Statista
Midjourney Has A 26.8% Share Of Gen AI-Powered Image Generator Tools
Midjourney is a text-to-image generative AI tool used to generate exceptional images using text prompts.
Over 16 million people use Midjourney, which has the largest market share in the Gen AI image generation tool market.
Dall-E has over 24.35% market share, and NightCafe has around 23.52% market share.
Though many AI text-to-image generators are still in beta development, they are still proving their mettle effectively.
The table below shows the market share of leading Gen AI image generators:
| AI Image Generator | Market Share |
| Midjourney | 26.8% |
| Dall-E | 24.35% |
| NightCafe | 23.52% |
| Starryai | 12.75% |
| Stable Diffusion | 12.52% |
Source: Statista
Top Generative AI Startups
Artificial intelligence has revolutionized the data-driven and analytical approach to data evaluation. On the other hand, Generative AI has started a new wave of creativity.
Generative AI is quickly becoming a match or even better to human creativity while being faster and less expensive.
Many new Gen AI start-ups have been launched in the last 5 years, and many more are gearing up to enter the market.
Open AI, Anthrophic, Adept, and Jasper were the top names in the Gen AI category.
Here is a table with the top Gen AI startups:
| # Number | Startup | Year Founded | Category |
| 1 | OpenAI | 2015 | Enterprise software |
| 2 | Adept AI | 2022 | Enterprise software |
| 3 | Anthropic | 2021 | Language model |
| 4 | Jasper | 2021 | Text |
| 5 | Copy.ai | 2020 | Writing |
| 6 | Synthesis AI | 2019 | Text to video |
| 7 | Descript | 2017 | Audio |
| 8 | Midjourney | 2022 | Image |
| 9 | UIzard | 2017 | Web Designing |
| 10 | Writesonic | 2021 | Writing |
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Conclusion:
Generative AI is just a drop in the ocean of artificial intelligence, where new tech and ideas are converted into practical things.
Generative AI has multiple use cases across all industries. The use and adoption of generative AI have increased considerably in recent years.
As the AI models are trained with new data, many new startups will enter the Gen AI space in the next few years.
These were some of the most crucial statistics about Generative AI that matter the most in 2024.
