Generative AI Market Size, Share and Industry Trends to Watch

Global Generative AI Market Share Size, and Future Landscape

MarkNtel Advisors, a leading market research company, presents its latest Global Generative AI Market Research Report By Component (Software, Service), By Technology (Generative Adversarial Networks (GANs), Transformers, Variational Autoencoder (VAE), Diffusion Networks, Retrieval Augmented Generation), By Application (Computer Vision, NLP, Robotics & Automation, Content Generation, Others (Chatbots & Intelligent Virtual Assistants, Predictive Analysis, etc.)) and other forecasts [2024-2030]. This well-curated report contains in-depth information about the industry. In this comprehensive study, we have meticulously compiled every critical detail, catering to the Generative AI Market's major and minor elements. Our focus extends to factors influencing market growth, encompassing historical, current, and projected data, emerging trends, technological advancements, key insights, recent developments, potential constraints, and various other factors that could significantly shape the industry's trajectory in the foreseeable future.

Generative AI Market Insight:

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.

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Competitive Landscape - Global Generative AI Market

This section provides a comprehensive understanding of market dynamics, highlighting the significant contributions of major companies and their strategies for achieving success and sustainability. By examining the competitive landscape, clients can gain valuable insights into the driving forces behind the growth and evolution of the Generative AI Industry. Let's familiarize ourselves with the key players in this competitive landscape: 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, and Others.

Global 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.

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Segmentation Summary - Generative AI Market

The summary of Generative AI market segmentation gives a quick look at different parts of the market. It helps businesses understand what customers like and where they are. By breaking down the market into smaller groups based on things like what people buy and where they live, companies can make better plans to sell their products. This summary is a simple guide to understanding the market better. The segmentations of the market are:

Component

> Software- Market Size & Forecast 2019-2030F, USD Million

> Service- Market Size & Forecast 2019-2030F, USD Million

Application

> 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

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

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

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

Based on the Technology: Generative Adversarial Networks (GANs) segment held a significant share of the Generative AI Market in 2022 and is estimated to be dominant in the upcoming years as well.

Geographical landscape

On the geographical front, the Generative AI Market expands across:

North America
South America
Europe
Middle East & Africa
Asia-Pacific

Of all regions globally, 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.

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Key Questions Addressed in this Generative AI Market Report:

What are the emerging trends in the Generative AI Industry?
What are the growth challenges faced by businesses in the Generative AI Industry?
How can companies capitalize on opportunities within the market of Generative AI?
What are the regulatory factors impacting the growth of the Generative AI Market?
What are some of the top Generative AI companies in the global market?
What is the current size of the Generative AI Market and how much is it will grow in the next few years?

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