Meta AI Catches Up to ChatGPT; Market Share Soars to 31% in 2024
The past two years have seen an explosion in generative AI tools, with new players entering the market almost daily, fueling a highly competitive landscape. Despite this surge in competition, ChatGPT was always ahead of the pack, that is until 2024. This year marked a turning point as Meta's (META) ambitious AI strategy became a serious contender to OpenAI's poster child.
According to data presented by AltIndex.com, Meta AI's market share in the United States, the world's largest AI market, skyrocketed to 31% in 2024, matching ChatGPT's share for the first time.
Competition Intensifies in the AI Market
The global race for dominance in generative AI tools speeded up this year, with more apps than ever competing for user attention. While ChatGPT remains the single-largest player in the market, Meta AI is seriously closing the gap, especially in the US market. This shift signals a growing threat to ChatGPT's long-held dominance.
Several factors explain Meta AI's remarkable growth in the United States. Its seamless integration into Meta's platforms like Facebook, Instagram, and WhatsApp offers users unparalleled accessibility. Also, Meta's AI tools, designed for content creation, business marketing, and customer service, have been fine-tuned to deliver highly personalized and engaging interactions. These features, coupled with aggressive marketing campaigns and competitive pricing, have made Meta AI a compelling alternative to OpenAI.
According to Statista Consumer Insights survey, Meta AI's market share in the United States practically doubled year-over-year, rising from 16% in 2023 to 31% in 2024. This growth far outpaces that of ChatGPT, whose share rose modestly from 26% to 31%, reflecting a 5% increase.
Future Trends in the AI Market
The competition in the generative AI space is set to heat up even further next year after Apple (AAPL) entered the market in late 2024. With its huge installed base of devices and loyal customer base, the tech giant has the potential to shake things up and dramatically reshape the AI landscape in 2025.
According to Statista, 3 in 10 US adults still don't use AI tools at all, while around 20% use them daily. A further 25% are open to trying new tools, presenting a significant opportunity for players willing to innovate.
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