Investment Rating - The report does not explicitly provide an investment rating for the AIGC chatbot industry Core Insights - The AIGC chatbot industry is experiencing rapid growth since the launch of ChatGPT in 2022, with diverse applications across various sectors such as smart homes, social media, e-commerce, education, healthcare, and enterprise services. The industry is characterized by high investment and high barriers to entry, leading to a concentration of resources among leading companies, resulting in a monopolistic competition landscape. The market is expected to continue expanding over the next decade [1] Industry Definition - AIGC chatbots are computer programs that simulate human language interaction through text, voice, or multimodal forms. Unlike traditional chatbots that rely on preset rules, AIGC chatbots utilize generative AI technologies, particularly the Transformer architecture, to provide personalized and adaptive interaction experiences [2] Industry Characteristics - The AIGC chatbot industry is defined by several key characteristics: diverse usage scenarios, technology-driven development, high investment requirements, high entry barriers, regional concentration, and policy-driven growth [8] Market Growth and Forecast - The AIGC chatbot market is projected to grow from 2.5 billion RMB in 2024 to 61.42 billion RMB by 2029, with a compound annual growth rate (CAGR) of 89.58% [36] - The global generative AI market is expected to grow from 40 billion USD to 1.3 trillion USD over the next decade, indicating significant growth potential [39] Industry Development Stages - The AIGC chatbot industry has evolved through four main stages: initial stage (1960s), language introduction stage (1990s), deep learning stage (early 2000s), and the generative AI stage (2020s) [15] Industry Chain Analysis - The AIGC chatbot industry chain consists of upstream (chip manufacturing and data services), midstream (algorithm models and technical frameworks), and downstream (applications in various sectors) [21] - The industry is witnessing a trend towards domestic production in the supply chain, particularly in chip manufacturing and algorithm framework development, driven by international restrictions and market demand [22] User Experience and Application Scenarios - AIGC chatbots enhance user experience by providing high-quality dialogue capabilities, applicable in customer service, financial interactions, healthcare consultations, educational support, and creative industries [34] Regional Development - The development of the AIGC chatbot industry shows significant regional characteristics, with major advancements in areas like Beijing, Shanghai, and Guangdong, which benefit from strong financing capabilities, talent pools, and policy support [13] Policy Support - The industry is supported by a multi-level policy framework that promotes AI technology application in various sectors, emphasizing the importance of AIGC in enhancing economic quality [14]