Report Overview:
The following report titled “Global Generative AI Market: By Component (Software, Service), By Technology (Generative Adversarial Networks (GANs), Transformers, Variational Autoencoder (VAE), Diffusion Networks, Retrieval Augmented Generation) and other forecast 2024-2030” provides a comprehensive analysis of the market, focusing on key details such as market size, growth trends, determinants of growth, segments covered, and the role of leading players in the industry.
Global Generative AI Market Summary
The Global Generative AI Market size was valued at around USD 12 million in 2022 and is estimated to grow at a CAGR of about 29.6% during the forecast period, i.e., 2024-30. The market growth is attributed to several factors, such as increasing applications of technologies, like super-resolution text-to-video conversion, and fueling mandate to modernization workflow across industries, which are influencing the demand for generative AI applications among different sectors.
Report Coverage Details
- Forecast Period: 2024-2030
- Base Year: 2023
- Market Size in 2022 : USD 12 million
- CAGR: 29.6%
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Generative AI Market Opportunity:
Rapid Expansion of Large Language Models (LLMs) to Create Opportunistic Arena for the Progression – Innovation in large language models other generative language modeling tools are streamlining content establishment. LLMs are deep-learning algorithms that can perform a wide range of tasks in natural language processing tremendously huge data sets to summarize, generate, understand, and estimate new content. They strengthen many systems such as Google’s LaMDA, OpenAI’s GPT-3 GPT-4 (text), Meta's LLaMA (chat code) and help to inspire Open AI’S DALL-E and Mid journey (text-t-image). LLMs have increased over the years with an average of 10x in size and sophistication, which is a profitable opportunity for the LLMs Generative AI Market.
Segmentation Analysis: Generative AI Market
By Component
- Software- Market Size Forecast 2019-2030F, USD Million
- Service- Market Size Forecast 2019-2030F, USD Million
By Technology
- Generative Adversarial Networks (GANs)- Market Size Forecast 2019-2030F, USD Million
- Transformers- Market Size Forecast 2019-2030F, USD Million
- Variational Autoencoder (VAE)- Market Size Forecast 2019-2030F, USD Million
- Diffusion Networks- Market Size Forecast 2019-2030F, USD Million
- Retrieval Augmented Generation- Market Size Forecast 2019-2030F, USD Million
By Application- Market Size Forecast 2019-2030F, USD Million
- Computer Vision- Market Size Forecast 2019-2030F, USD Million
- NLP- Market Size Forecast 2019-2030F, USD Million
- Robotics Automation- Market Size Forecast 2019-2030F, USD Million
- Content Generation- Market Size Forecast 2019-2030F, USD Million
- Others (Chatbots Intelligent Virtual Assistants, Predictive Analysis, etc.)- Market Size Forecast 2019-2030F, USD Million
By Model
- Large Language Models- Market Size Forecast 2019-2030F, USD Million
- Image Video Generative Models- Market Size Forecast 2019-2030F, USD Million
- Multi-model Generative Models- Market Size Forecast 2019-2030F, USD Million
- Others (Text-to-Text Generative Models, Audio Generative Models, etc.)- Market Size Forecast 2019-2030F, USD Million
By End User
- Media Entertainment- Market Size Forecast 2019-2030F, USD Million
- BFSI- Market Size Forecast 2019-2030F, USD Million
- Healthcare- Market Size Forecast 2019-2030F, USD Million
- IT Telecom- Market Size Forecast 2019-2030F, USD Million
- Others (Automotive Transportation, Gaming, etc.)- Market Size Forecast 2019-2030F, USD Million
By Region
- North America
- South America
- Europe
- The Middle East Africa
- Asia-Pacific
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Region: North America Holds a Major Market Share
Among them, North America held the largest share of around 40.2% in 2022 and is anticipated to grow at the fastest pace over the future years.
Leading Players Analysis: Generative AI Market
The report provides detailed analysis of key players in the global Generative AI market, highlighting their strategies and competitive scenario.
- IBM Corporation
- Google LLC
- Amazon Web Services
- Adobe
- Microsoft Corporation
- Rephrase.ai
- Meta
- Genie AI Ltd.
- MOSTLY AI Inc.
- NVIDIA
- Insilico Medicine
- Open AI
- Synthesia
- Giphy
- Lumen 5
- Others
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Key Benefits for Stakeholders:
- Informed Decision-Making: Access to comprehensive and insightful market research reports enables stakeholders to make well-informed decisions, leading to more strategic and successful initiatives.
- Strategic Planning: The strategic reports provided by MarkNtel Advisors empower stakeholders to formulate robust strategies for market entry, product development, and competitive positioning.
- Market Sizing Forecasting: Stakeholders can benefit from accurate market sizing and forecasting data to make informed investment and resource allocation decisions, minimizing risks and maximizing returns.
- Competitive Benchmarking: The availability of competitive benchmarking data allows stakeholders to assess their performance against industry peers, identify areas for improvement, and capitalize on strengths.
- Identifying Investment Opportunities: Through trend analysis and industry insights, stakeholders can identify attractive investment opportunities and stay ahead in the market for better ROI.
About us
MarkNtel Advisors is a leading consulting, data analytics, and market research firm that provides an extensive range of strategic reports on diverse industry verticals. We being a qualitative quantitative research company, strive to deliver data to a substantial varied client base, including multinational corporations, financial institutions, governments, and individuals, among others.
We have our existence across the market for many years and have conducted multi-industry research across 80+ countries, spreading our reach across numerous regions like America, Asia-Pacific, Europe, the Middle East Africa, etc., and many countries across the regional scale, namely, the US, Saudi Arabia, the Netherlands, Saudi Arabia, the UAE, Brazil, and several others.
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