Analyzing the Potential of the Global Generative AI Market (2024-30): Market Share/Size, Dynamics, Industry Landscape
Global Generative AI Market Research Report by one of the leading firm named MarkNtel Advisors, has been well-curated and comprises of in-depth information regarding the industry. In this exhaustive study, we've extensively researched the market using a robust methodology. We aim to offer stakeholders precise insights into the industry by addressing all potential queries that investors or participants might have.
We've carefully compiled this report to encompass every critical detail, catering to both major & unpretentious elements of the Generative AI Market. Our focus extends to factors influencing market growth—spanning historical, current, and projected data, emerging trends, technological advancements, key insights, recent developments, potential constraints, and various other factors that could greatly shape the industry's orbit in the foreseeable future.
Period Considered to Predict the Generative AI Market Share, Size, Or Other Statistics:
Base Year of the Analysis: 2023
Historical Period: 2019 - 2022
Forecast Period: 2024 – 2030
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What is the Generative AI Market Size, Share, and Dynamics?
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.
Factor Affecting the Generative AI Industry Growth?
Growing Awareness About Generative AI to Thrive Market Growth – The surging consciousness about Generative AI acts as a key driver of the Generative AI Market. Conventional AI-driven conversational interfaces are often limited by predefined instructions, resulting in inadequate responses due to their inability to fully comprehend user queries. Generative AI, on the other hand, addresses this issue by understanding, learning, and formulating chat responses based on context and intent.
These generative models rely on virtual assistants, incorporating technologies like chatbots, deep learning, NLP (Natural Language Processing), NGL (Natural Language Generation), and LLM (Large Language Models). As a result, this empowers intelligent virtual assistants and other conversational interfaces to engage with users in a more human-like manner. As consumers become more aware of the advantages of generative AI, its adoption is on the rise for various applications. The user-friendly nature & benefits provided by generative AI are expected to contribute to boosting the Generative AI Market growth in the foreseeable future.
Who are the Top Generative AI Companies in the Global Market?
This section endeavors to offer an in-depth comprehension of market dynamics, emphasizing the significant contributions of major companies and their strategies for achieving success & sustenance. Through this segment, clients can acquire beneficial insights into the competitive scenario and the driving forces behind the growth and evolution of the Generative AI Industry. Let us get familiar with these leading competitors:
IBM Corporation
Google LLC
Amazon Web Services
Adobe
Microsoft Corporation
ai
Meta
Genie AI Ltd.
MOSTLY AI Inc.
NVIDIA
Insilico Medicine
Open AI
Synthesia
Giphy
Lumen 5
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Examining the Generative AI Market Via Segmentation Analysis
Given the bifurcation in the TOC the Generative AI Market is fragmented into several segments, sub-segments, sub-sub-segments, and further. The segmentations are highlighted below:
Component
> Software
> Service
Technology
> Generative Adversarial Networks (GANs)
> Transformers
> Variational Autoencoder (VAE)
> Diffusion Networks
> Retrieval Augmented Generation
Application
> Computer Vision
> NLP
> Robotics & Automation
> Content Generation
> Others (Chatbots & Intelligent Virtual Assistants, Predictive Analysis, etc.)
Model
> Large Language Models
> Image & Video Generative Models
> Multi-model Generative Models
> Others (Text-to-Text Generative Models, Audio Generative Models, etc.)
End User
> Media & Entertainment
> BFSI
> Healthcare
> IT & Telecom
> Others (Automotive & Transportation, Gaming, etc.)
How is the Market Defined on the basis of the Geographical landscape?
On the geographical front, the Generative AI Market expands across:
North America
South America
Europe
Middle East & Africa
Asia-Pacific
If there are any particular details you need that are not currently included in the report , we will be happy to deliver them as part of our customization services.
Key Questions Addressed in the Generative AI Market Research Report:
What are the emerging trends in the Generative AI Market?
What are the growth challenges faced by businesses in the Generative AI Industry?
How can companies capitalize on opportunities within the Generative AI Industry?
What are the regulatory factors impacting the Generative AI Market?
How has the Generative AI Market landscape been transforming over time?
Who are the key Generative AI Companies in the Market?
What is current Generative AI Market size and how much is estimated market growth for the next coming years?
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