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

VILA REAL, Portugal, July 15, 2026 /PRNewswire/ -- The European rounds of the 2026 Kumho FIA TCR World Tour concluded in Vila Real, where Geely Cyan Racing secured its fifth victory of the season and took the lead in the Teams' Championship. French driver Yann Ehrlacher won Race 1, while the other three drivers finished among the top four.

Throughout the European rounds, the team competed at Misano, Ricardo Tormo, Paul Ricard and Vila Real, facing a wide range of track challenges, from flat-out sections and long high-speed sections to technical corners. The Geely Preface TCR proved highly competitive across different circuits, supported by its self-developed chassis, suspension system and powertrain, with Geely Cyan Racing holding a 56-point lead in the Teams' Championship standings. Santiago Urrutia tops the Drivers' Championship, while Yann Ehrlacher is fourth. Thed Björk and Ma Qinghua rank sixth and seventh respectively. Through motorsport competition, the team continues to demonstrate Geely's engineering capabilities and further support its global development.

Beyond the racetrack, Geely's global expansion continues to accelerate. In the first half of 2026, Geely achieved global sales of 1,100,373 units. Within just 45 days, the brand entered seven European markets, including Germany, Spain, the Netherlands and France. Meanwhile, the Geely STARRAY EM-i became Australia's best-selling PHEV SUV in May. Underpinning this momentum are Geely's integrated global capabilities across R&D, products, services and brand development. Backed by a diverse portfolio of sedans and SUVs, five testing regions across Asia, Europe and beyond, and five engineering R&D centres in China, Europe and Malaysia, Geely continues to advance localisation and technology development. Additionally, Geely's global customer initiatives, including GEEL•GO and GEELY Care+, strengthen brand trust. International awards such as the Automotive News PACE Award and the Red Dot Product Design Award further reinforce the brand's influence. Together, these efforts support Geely's global growth.

The 2026 Kumho FIA TCR World Tour will come to China this October. The series will head to Chengdu and Zhuzhou before concluding with the season finale in Macau. Bringing valuable experience from its European rounds, Geely Cyan Racing will compete on Chinese circuits and continue to strengthen Geely's global motorsport presence. The team will also showcase its engineering capabilities on tracks.

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From permanent circuits to street circuits, Geely Cyan Racing secures fifth victory of the 2026 Kumho FIA TCR World Tour