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The Generative AI Market size was estimated at USD 16.89 billion in 2023, USD 22.25 billion in 2024, and is expected to grow at a CAGR of 33.24% to reach USD 125.93 billion by 2030. Speak directly to the analyst to clarify any post sales queries you may have.
Generative AI is characterized by developing, implementing, and integrating advanced artificial intelligence technologies that leverage machine learning algorithms and deep learning methods to create new content, designs, or data outputs autonomously. The generative AI market's growth includes increasing adoption of text-to-image conversion and text-to-video conversion applications. Furthermore, broadening the use of generative AI in visual applications is driving market growth. In contrast, growing concerns regarding data security, privacy, and output accuracy hamper the market. However, the emergence of fully automated generative AI, increasing demand for personalized content, integration with emerging technologies like IoT and AR/VR, and data-driven decision-making. Furthermore, several players are focusing on federated learning approaches to ensure data security while maintaining user privacy is an opportunity for this market.
Regional Insights
In the Americas, particularly in the United States and Canada, generative AI has been used extensively for enhancing customer experiences through personalized recommendations and targeted marketing strategies. This can be attributed to the presence of leading technology firms that are driving innovations in this field. Additionally, sectors like healthcare and pharmaceuticals have employed generative AI for drug discovery and optimizing patient care. In Asia-Pacific countries such as China, Japan, South Korea, Singapore, and India; there is a growing interest in generative AI applications focused on smart cities development that includes transportation planning, urban infrastructure maintenance as well as energy optimization. European countries such as Germany, France, United Kingdom along with the Nordic countries, show a keen interest in generative AI. They are majorly focused on sustainability and eco-friendly practices by utilizing this technology for smart energy grids, waste management optimization, and agriculture. Moreover, industries like automotive and aerospace in Europe use generative AI for design and simulation processes to enhance product development efficiency.FPNV Positioning Matrix
The FPNV Positioning Matrix is pivotal in evaluating the Generative AI Market. It offers a comprehensive assessment of vendors, examining key metrics related to Business Strategy and Product Satisfaction. This in-depth analysis empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital (V).Market Share Analysis
The Market Share Analysis is a comprehensive tool that provides an insightful and in-depth examination of the current state of vendors in the Generative AI Market. By meticulously comparing and analyzing vendor contributions in terms of overall revenue, customer base, and other key metrics, we can offer companies a greater understanding of their performance and the challenges they face when competing for market share. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With this expanded level of detail, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.Key Company Profiles
The report delves into recent significant developments in the Generative AI Market, highlighting leading vendors and their innovative profiles. These include Accenture, AI21 Labs Ltd., Amazon Web Services, Inc., Anthropic PBC, AssemblyAI, Clarifai, Inc., Codacy, Databricks, DeepL Translator, Dialpad, Inc., EleutherAI, Genie AI Ltd., Google LLC by Alphabet Inc., Infosys Limited, International Business Machines Corporation, Inworld AI, Lighttricks, Markovate, Media.io, Meta Platforms, Inc., Microsoft Corporation, Midjourney, Inc., Mostly AI Solutions MP GmbH, OpenAI, Paige AI, Inc., Persado, Inc., PlayHT, Rephrase.ai, Revery AI Inc., and Speechify.Market Segmentation & Coverage
This research report categorizes the Generative AI Market to forecast the revenues and analyze trends in each of the following sub-markets:- Offering
- Services
- Software
- Application
- Chatbot & Virtual Assistance
- Computer Vision
- ML-based Predictive Modeling
- Natural Language Processing (NLP)
- Robotics & Automation
- Speech Recognition
- End-use
- Automotive & Transportation
- BFSI
- Energy
- Gaming
- Government
- Healthcare
- IT & Telecommunication
- Media & Entertainment
- Retail
- Region
- Americas
- Argentina
- Brazil
- Canada
- Mexico
- United States
- California
- Florida
- Illinois
- New York
- Ohio
- Pennsylvania
- Texas
- Asia-Pacific
- Australia
- China
- India
- Indonesia
- Japan
- Malaysia
- Philippines
- Singapore
- South Korea
- Taiwan
- Thailand
- Vietnam
- Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom
- Americas
The report offers valuable insights on the following aspects:
- Market Penetration: It presents comprehensive information on the market provided by key players.
- Market Development: It delves deep into lucrative emerging markets and analyzes the penetration across mature market segments.
- Market Diversification: It provides detailed information on new product launches, untapped geographic regions, recent developments, and investments.
- Competitive Assessment & Intelligence: It conducts an exhaustive assessment of market shares, strategies, products, certifications, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players.
- Product Development & Innovation: It offers intelligent insights on future technologies, R&D activities, and breakthrough product developments.
The report addresses key questions such as:
- What is the market size and forecast of the Generative AI Market?
- Which products, segments, applications, and areas should one consider investing in over the forecast period in the Generative AI Market?
- What are the technology trends and regulatory frameworks in the Generative AI Market?
- What is the market share of the leading vendors in the Generative AI Market?
- Which modes and strategic moves are suitable for entering the Generative AI Market?
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Table of Contents
1. Preface
2. Research Methodology
4. Market Overview
5. Market Insights
6. Generative AI Market, by Offering
7. Generative AI Market, by Application
8. Generative AI Market, by End-use
9. Americas Generative AI Market
10. Asia-Pacific Generative AI Market
11. Europe, Middle East & Africa Generative AI Market
12. Competitive Landscape
13. Competitive Portfolio
14. Appendix
List of Figures
List of Tables
Companies Mentioned
- Accenture
- AI21 Labs Ltd.
- Amazon Web Services, Inc.
- Anthropic PBC
- AssemblyAI
- Clarifai, Inc.
- Codacy
- Databricks
- DeepL Translator
- Dialpad, Inc.
- EleutherAI
- Genie AI Ltd.
- Google LLC by Alphabet Inc.
- Infosys Limited
- International Business Machines Corporation
- Inworld AI
- Lighttricks
- Markovate
- Media.io
- Meta Platforms, Inc.
- Microsoft Corporation
- Midjourney, Inc.
- Mostly AI Solutions MP GmbH
- OpenAI
- Paige AI, Inc.
- Persado, Inc.
- PlayHT
- Rephrase.ai
- Revery AI Inc.
- Speechify
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 186 |
| Published | March 2024 |
| Forecast Period | 2024 - 2030 |
| Estimated Market Value ( USD | $ 22.25 Billion |
| Forecasted Market Value ( USD | $ 125.93 Billion |
| Compound Annual Growth Rate | 33.2% |
| Regions Covered | Global |
| No. of Companies Mentioned | 30 |
