The Generative AI Market was valued at USD 20.7 billion in 2024, and is expected to reach USD 89.9 billion by 2029, rising at a CAGR of 34.20%.
Traditional artificial intelligence (AI) concentrates on evaluating data to make predictions, and generative AI is a subfield of AI that specializes in creating new data. With notable developments since 2022, its growing capacity to produce unique content in various media is revolutionizing sectors. It uses pre-trained learning techniques to produce new pictures, audio, video, text and code. This nextgeneration AI identifies the underlying pattern connected with the input and creates new, realistic artifacts that replicate the training data’s features. Generative AI is spreading like wildfire, propelling the global industry to the next level. The wildfire is raging through most industries, with businesses wanting to use AI to enhance different operations and stay competitive with their AI-using peers.
Integrating generative AI with emerging technologies, such as edge computing, explainable AI, blockchain, the metaverse, privacy-preserving AI and high-performance computing, drives innovation across various sectors, including healthcare, finance and entertainment. It enhances patient care and training through immersive simulations and secure data management. In finance, it improves risk assessment and fraud detection while ensuring transaction security. The metaverse allows generative AI to create personalized and dynamic user experiences, while high-performance computing ensures smooth operations. Explainable AI fosters transparency in decision-making processes, and edge computing enhances real-time data processing. Together, these technologies unlock new possibilities for efficiency, security and user engagement across industries.
The market by offerings includes software, hardware and services. The software segment is categorized based on its foundational models and deployment mode. The software foundational models are segmented into statistical, rule-based and deep learning models, including their respective types. The software deployment mode covers on-premises and clouds. The hardware offerings cover the central processing unit (CPU), graphics processing unit (GPU) and tensor processing unit (TPU). The service offered further includes professional and managed services.
The market by data type covers text, code, audio/speech and images/videos. The market by application includes business integration and visualization, content management, synthetic data management, automation and integration, and generative design. The market by end-user industry is segmented into BFSI, healthcare and life sciences, IT and ITeS, manufacturing, media and entertainment, retail and e-commerce and others. The market by region covers North America, Europe, Asia-Pacific and the Rest of the World.
The report examines the key trends and challenges driving the market and the companies operating in it. It analyzes regulatory landscape and environmental, social and corporate governance (ESG) developments. It covers patent activity and emerging technologies in the generative AI market. It also provides the competitive landscape among leading players, detailing the market ecosystem and the venture funding information. The report also provides detailed profiles of the significant generative AI players and their strategies to enhance their market presence.
Traditional artificial intelligence (AI) concentrates on evaluating data to make predictions, and generative AI is a subfield of AI that specializes in creating new data. With notable developments since 2022, its growing capacity to produce unique content in various media is revolutionizing sectors. It uses pre-trained learning techniques to produce new pictures, audio, video, text and code. This nextgeneration AI identifies the underlying pattern connected with the input and creates new, realistic artifacts that replicate the training data’s features. Generative AI is spreading like wildfire, propelling the global industry to the next level. The wildfire is raging through most industries, with businesses wanting to use AI to enhance different operations and stay competitive with their AI-using peers.
Technological Advances and Applications
Generative AI represents a significant leap in AI, enabling machines to create new content across various formats, including text, images, audio and video. This technology has evolved rapidly, particularly with advances in deep learning and the development of sophisticated models, such as generative adversarial networks (GANs) and transformers. These models allow AI systems to learn from vast datasets and generate content miming human creativity and style. Models such as ChatGPT can produce coherent and contextually relevant text. In image generation, tools such as DALL-E can create unique visuals based on textual descriptions.Integrating generative AI with emerging technologies, such as edge computing, explainable AI, blockchain, the metaverse, privacy-preserving AI and high-performance computing, drives innovation across various sectors, including healthcare, finance and entertainment. It enhances patient care and training through immersive simulations and secure data management. In finance, it improves risk assessment and fraud detection while ensuring transaction security. The metaverse allows generative AI to create personalized and dynamic user experiences, while high-performance computing ensures smooth operations. Explainable AI fosters transparency in decision-making processes, and edge computing enhances real-time data processing. Together, these technologies unlock new possibilities for efficiency, security and user engagement across industries.
Report Scope
This report provides an overview of the global generative AI market and examines market trends. It includes base year data from 2023 and projected data from 2024 through 2029. The report analyzes the global market revenue ($ millions) for segments (i.e., offerings, data type, application, end-user industry) and regions (i.e., North America, Europe, Asia-Pacific, the Rest of the World).The market by offerings includes software, hardware and services. The software segment is categorized based on its foundational models and deployment mode. The software foundational models are segmented into statistical, rule-based and deep learning models, including their respective types. The software deployment mode covers on-premises and clouds. The hardware offerings cover the central processing unit (CPU), graphics processing unit (GPU) and tensor processing unit (TPU). The service offered further includes professional and managed services.
The market by data type covers text, code, audio/speech and images/videos. The market by application includes business integration and visualization, content management, synthetic data management, automation and integration, and generative design. The market by end-user industry is segmented into BFSI, healthcare and life sciences, IT and ITeS, manufacturing, media and entertainment, retail and e-commerce and others. The market by region covers North America, Europe, Asia-Pacific and the Rest of the World.
The report examines the key trends and challenges driving the market and the companies operating in it. It analyzes regulatory landscape and environmental, social and corporate governance (ESG) developments. It covers patent activity and emerging technologies in the generative AI market. It also provides the competitive landscape among leading players, detailing the market ecosystem and the venture funding information. The report also provides detailed profiles of the significant generative AI players and their strategies to enhance their market presence.
The report includes:
- 83 data tables and 60 additional tables
- An analysis of the global market trends for generative artificial intelligence technology, with market revenue data for 2023, estimates for 2024, forecasts for 2025 and projected CAGRs through 2029
- Estimates of the market size and revenue growth prospects, along with a market share analysis by offering, software deployment type, data type, application, end-user industry and region
- Facts and figures pertaining to the market dynamics, advances in AI technology, regulations, and the impact of macroeconomic factors
- A Porter’s Five Forces model, and global supply chain and PESTLE analyses
- Analysis of patents, emerging trends and developments
- Analysis of the industry structure, including companies’ market shares and rankings, strategic alliances, M&A activities and a venture funding outlook
- Overview of sustainability trends and ESG developments, with emphasis on consumer attitudes, and the ESG scores and practices of leading companies
- Profiles of the leading companies, including OpenAI, Alphabet Inc. (Google), Meta, Microsoft Corp., and Lumen5
Table of Contents
Chapter 1 Executive Summary
Chapter 2 Market Overview
Chapter 3 Market Dynamics
Chapter 4 Regulatory Landscape
Chapter 5 Emerging Technologies and Developments
Chapter 6 Market Segmentation Analysis
Chapter 7 Competitive Intelligence
Chapter 8 Sustainability in Generative AI Industry: An ESG Perspective
Chapter 9 Appendix
List of Tables
List of Figures
Companies Mentioned
- Accenture
- Adobe
- Alibaba Group Holding Ltd.
- Alphabet Inc. (Google)
- Amazon.Com Inc.
- Anthropic PBC
- Capgemini
- IBM
- Lumen5
- Meta
- Microsoft
- Nvidia Corp.
- Openai
- Persado
- Simplified (Tldr Technologies Inc.)
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 217 |
| Published | January 2025 |
| Forecast Period | 2024 - 2029 |
| Estimated Market Value ( USD | $ 20.7 Billion |
| Forecasted Market Value ( USD | $ 89.9 Billion |
| Compound Annual Growth Rate | 34.2% |
| Regions Covered | Global |
| No. of Companies Mentioned | 15 |
