ChatGPT Number of Users & Market Size Statistics(Feb 2024)
ChatGPT User Demographics, Growth, & Revenue Data
OpenAI’s ChatGPT set a record by gaining over two hundred million users in May 2023, just less than six months since its release. However, it seems that the platform’s seemingly exponential growth has slowed as visits to the website has seen decline in the third quarter of the year. At its peak, the OpenAI website generated 1.8 billion visits per month but has lowered to 1.4 billion visits in three months.
Did you know that ChatGPT can write not only essays but also write code? It can even write an entire academic paper.
Given all of this, Open AI’s new chatbot, released in late 2022, has the potential to impact a wide range of industries, from education to business.
In this article, you’ll learn more about ChatGPT statistics, from how many people use ChatGPT, its valuation, implications for businesses, jobs, and market research when running ChatGPT, and many other additional ChatGPT statistics.
- ChatGPT Number of Users: ChatGPT’s monthly active users are currently at less than 200 million users. In June and July of 2023, the number of users in the platform seems to have decreased by 10% each month.
- ChatGPT Number of Requests: ChatGPT handles approximately 10 million user queries daily.
- ChatGPT’s Website Traffic: ChatGPT currently has 1.4 billion visits in a month, a decline of 400 million visits (or a 22% decrease) from its 1.8 billion monthly visits in May 2023.
- ChatGPT Demographics: ChatGPT statistics show that the average ChatGPT user is a male young adult. More than 60% of ChatGPT users are aged 18 to 34. Around 60% of users are male, while 40% are female.
- OpenAI ChatGPT Valuation: OpenAI will be valued at US$ 30 billion in 2023. It was ranked number one in CNBC’s Disruptor 50 this year.
- ChatGPT Revenue: According to ChatGPT’s most recent investor pitch, revenue will be around $200 million in 2023 and $1 billion by 2024.
- Chatbot Market Size and Growth: The global chatbot market is valued at $6,311.7 million in 2023, with a CAGR of 23.3% projected from 2023 to 2030.
Overview of ChatGPT
Interesting ChatGPT Facts & Statistics
|ChatGPT was launched by its parent company, OpenAI, on November 30, 2022.
|For their free version, ChatGPT utilizes OpenAI's Generative pre-trained transformer 3.5 (GPT-3.5). The ChatGPT Plus version utilizes GPT-4
|The method for training ChatGPT is through Reinforcement Learning from Human Feedback or RLHF.
|Based on ChatGPT statistics, the chatbot’s average operational cost per day is estimated to be around US $100,000, with a monthly cost of US $3 million.
|The dataset for OpenAI’s ChatGPT contains 300 billion words, 570 GB of data, and 175 billion parameters.
|Cost per AI chat/Cost to users
|ChatGPT has a free version as well as the ChatGPT Plus, which is available for subscription at 20 USD per month.
|OpenAI says that once ChatGPT is monetized, it will generate approximately $1 billion in revenue by the end of 2024.
ChatGPT, unlike other AI chatbots, provides a human-like feedback response. It can challenge incorrect premises, answer follow-up questions, recognize limitations and errors, and reject inappropriate requests.
ChatGPT was created in addition to GPT-3.5 by OpenAI, an improved version of GPT 3. The GPT 3.5 is an autoregressive language model that generates human-like text using deep learning.
ChatGPT is a transformer-based language model that was trained on a huge database of text data to perform natural language processing tasks. These natural language processing (NLP) tasks include high-accuracy question answering, text summarization, and language translation.
How Many Users Does ChatGPT Have?
At its peak, ChatGPT had over 200 million ChatGPT monthly active users worldwide. It was once considered the fastest growing platform when it reached over one million users only five days after its November 30, 2022 launch. However, Meta’s Threads overtook the record when it reached its first million users just one hour after its launch in July 2023. To compare, the following platform to reach a million users was Instagram, which took 2.5 months to achieve.
ChatGPT's Monthly Active Users (MAU)
*Note: Figure is an estimate using linear regression analysis based on data from BusinessofApps and CNBC.
What's ChatGPT's User Growth Rate?
Based on current ChatGPT statistics, estimates show that the number of monthly ChatGPT users had a staggering monthly growth rate of 188% in its first six months. However, there seems to be a 10% decline in its monthly users for the months of June and July.
ChatGPT Adoption Statistics
Reports indicate that ChatGPT reached over 100 million users two months after its launch, breaking TikTok’s record of 9 months. On July 5, 2023, however, Threads overtook this record after reaching 100 million users in just two days.
ChatGPT shortly held the record for being the fastest platform to reach its first million users in five days, but was overtook by Threads when they reached their first million users in just one hour.
ChatGPT is regarded as a watershed moment in the widespread adoption of artificial intelligence. It continues to grow and innovate with its API, which is simple enough for users to understand and can automate basic programming, data entry, and many other things.
Number of Daily ChatGPT Queries Received
According to ChatGPT statistics, the tool receives around 10 million daily queries.
ChatGPT's Website Traffic (May 2023)
OpenAI’s ChatGPT generated 1.8 billion visits in a month. This is 12% higher compared to the previous month’s visits. The platform ranked 16th in the world’s most popular websites this month, which is 82 points higher compared to its rank in December 2022. This is indicative that the application is gaining traction all over the world.
ChatGPT User Demographics 2023
Around 63.42% of ChatGPT users are aged 18 to 34 years old, which means that the adoption of the AI application is leaning heavily toward younger adults. Around 61.52% of users are male, while 38.48% are female.
Average Time Spent on ChatGPT Per User
According to Similarweb, the average ChatGPT user spends 5 minutes and 21 seconds on the website.
Most Popular Countries Using ChatGPT
The United States was the top country sending desktop traffic to ChatGPT’s website in 2023, accounting for 15.32% of the total audience. It is followed by India (6.32%), Japan (3.97%), Colombia (3.28%), and Canada (2.74%). The rest of the world accounts for 68.36% of visits.
How Much is ChatGPT Worth?
ChatGPT is reportedly valued at US$ 30 billion in 2023, more than doubling the OpenAI valuation of $14 billion in 2021.
ChatGPT Projected Revenue in 2023/2024
According to reports, ChatGPT’s most recent pitch to investors shows a revenue projection of around $200 million in 2023 and $1 billion by 2024.
Chatbot Market Size and Growth
According to ChatGPT statistics, the chatbot market worldwide was valued at US $6,311.7 million in 2023, with a compound annual growth rate or CAGR of 23.3% projected from 2023 to 2030.
- E-commerce companies can use chatbots for returns and exchanges. They can automate approximately 35% of the task done by an individual, which will substantially result in substantial annual savings in overall costs.
- The marketing segment led the global chatbot market in 2021 when it recorded a revenue share of 56.8%.
- IBM Corporation, Creative Virtual Ltd, Nuance Communications, eGain Corporation, and Avaamo Inc. are among the leading players in the global chatbot market.
Will ChatGPT Be Monetized?
OpenAI released its ChatGPT Plus service on February 1, 2023. The company’s subscription plan is priced at US$ 20 a month and offers new features and priority access to its subscribers.
ChatGPT & AI Taking Over Jobs
ChatGPT Implication for Business
Many businesses in sales and customer service are able to minimize routine and mundane tasks using AI, cutting down approximately 35% of tasks done by an individual. AI is able to provide support businesses by automating tasks such as customer engagement, research compilation, and text translations.
However, there may be some risks for businesses, especially since OpenAI acknowledges the current limitations of ChatGPT and artificial intelligence in general, like the possibility of incorrect or biased information or privacy concerns.
ChatGPT Implication for Market Research
The major implication of ChatGPT for market research is the further advancement of Conversational AI as a key methodology. It’s because ChatGPT can exemplify the quality of conversation that AI technology can have.
ChatGPT Implication for Education
ChatGPT significantly impacts the education sector as it can automate learning goals and activities, as well as assessment and evaluation practices like essays or academic papers. However, this technology raises concerns that students may become overly reliant on ChatGPT for academic tasks.
This is why the paper “ChatGPT User Experience: Implications for Education” concludes that rather than using the tool to do something that students’ general skills can do, ChatGPT should only be used to assist students with subject-domain tasks where they can still use their creativity and critical thinking.
How WIll AI and ChatGPT Affect Jobs and Industries?
ChatGPT can automate traditional human functions like text revision, document creation, and code writing. With its massive increase in job completion speed and ability to generate written content that is useful in a variety of industries, it has the potential to make significant changes in several business sectors.
While there is the possibility of human-machine hybrid work wherein humans guide AIs for reduced errors, there is also the risk of people losing their jobs. This demonstrates how ChatGPT’s technology creates new systems with impacts on jobs and business models.