Generative AI market to reach US$1.5 trillion by 2030 with Taiwan holds hardware advantage; software and services to see promising future, says DIGITIMES Research

TAIPEI, Sept. 3, 2024 /PRNewswire/ -- The global generative AI market is experiencing rapid growth. According to the latest "Generative AI Special Report" from DIGITIMES, the market size is expected to expand quickly, reaching USD 40 billion by 2024 and growing to USD 1.5 trillion by 2030, with a compound annual growth rate (CAGR) of 83% from 2022 to 2030.

Generative AI is being applied across an increasingly broad range of areas, from text and images to music and more. Analyst Zouhao Shen notes that as AI transitions from the cloud to the edge, hardware limitations and model development become major challenges. It is anticipated that the development of edge AI chips will increasingly focus on enhancing domain specificity and strengthening software-hardware integration to meet the low-power, high-efficiency demands of various edge applications. Analyst Evan Chen further explains that as edge AI moves towards real-world applications, it will face four key challenges: miniaturization, adaptation, scalability, and cost-effectiveness. Beyond developing diverse hardware, integrating development platforms and deepening vertical applications will also be critical for establishing a foothold in the edge AI landscape.

In terms of industrial development  the rapid rise of generative AI is set to drive Taiwan's ICT industry chain's export value, including upstream sectors such as chip design, chip/memory manufacturing, and packaging; midstream sectors like PCBs, passive components, and power components; and downstream sectors such as server manufacturing. Generative AI is expected to generate substantial orders for Taiwan's ICT industry.

Analyst Wing Hwang believes that the generative AI market is currently in its early stages, with the global market size primarily driven by AI computing hardware. However, over the next five years, the share of AI-related software and services is expected to increase significantly, with projections indicating that by 2030, software and services will account for 32% and 55% of the overall generative AI market, respectively. The growth of generative AI software and services will be a crucial factor in driving the market's expansion. Taiwan, leveraging its ICT industry chain advantage, is poised to seize early opportunities in the generative AI hardware market. Looking ahead, software and services will be the key areas for future growth, and early investment in these sectors could enable Taiwanese companies to gain a competitive edge.

To gain a comprehensive understanding and stay at the forefront of the generative AI revolution, acquire the latest generative AI research report from DIGITIMES Research. This report offers in-depth analysis and valuable insights essential for navigating the future of this transformative market.

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Generative AI market to reach US$1.5 trillion by 2030 with Taiwan holds hardware advantage; software and services to see promising future, says DIGITIMES Research

VENICE, Italy, Nov. 15, 2026 /PRNewswire/ -- HONGQI, one of China's leading automotive marques, will introduce its all-new all-electric SUV, HONGQI EHS4, to the European market. Making its global debut in Venice, Italy, on 16 November 2026, the EHS4 marks another milestone in the brand's international expansion.

68 Years of Heritage: A Distinctive Expression of Modern Luxury
Founded in 1958, HONGQI has spent 68 years building its automotive heritage through independent innovation, engineering excellence, and craftsmanship. Guided by a longstanding commitment to quality and safety, the brand continues to bring its distinctive heritage to a global audience.

With its Munich Advanced Design Centre, HONGQI combines global design perspectives with its rich Eastern heritage. Guided by a European Neoclassical Design Philosophy, the EHS4 brings together Eastern design influences and global aesthetics. Developed around European consumer needs, it represents HONGQI's first model tailored specifically for Europe.

HONGQI EHS4: A New Choice for All-Electric Mobility
Bringing together Eastern and Western design aesthetics, HONGQI EHS4 balances distinctive styling, driving comfort and everyday practicality. Its Celadon Paint draws inspiration from the refined beauty of traditional Longquan celadon, while the Eyes of Infinite Allure lighting design creates a distinctive visual identity. Inside, the Crystal Control Knob adds an elegant touch to the cabin.

With a driving range of up to 470 kilometres and fast-charging capability of approximately 20 minutes, the EHS4 is designed for convenient everyday electric mobility. Its 87.4% space utilization makes intelligent use of interior space, enhancing passenger comfort and practicality.

Safety and quality remain central to its development. Equipped with seven airbags and intelligent driver-assistance technologies, the EHS4 draws on FAW's more than 70 years of automotive manufacturing expertise to deliver advanced technology, refined driving quality, and dependable vehicle performance.

Venice: A New Chapter in Europe
On 16 November 2026, HONGQI EHS4 will make its global debut at the Scuola Grande di Santa Maria della Misericordia in Venice. The event will bring together European dealers, media representatives, and industry guests to witness an important milestone in HONGQI's European journey.

A distinctive expression of Eastern elegance, now coming to Europe.

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HONGQI EHS4 Set for Global Debut in Venice: Eastern Elegance Arrives in Europe