Generative AI Market Research Breakthrough: 2022 Registers USD 12 million Valuation, Envisions Impressive 29.6% CAGR Surge by 2030

Report Overview:

The following report titled “Global Generative AI MarketBy 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

Note: Should you require specific information beyond the current scope of the report, we are prepared to furnish it as part of our customization services.

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  1. 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.
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  4. 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.
  5. Identifying Investment Opportunities: Through trend analysis and industry insights, stakeholders can identify attractive investment opportunities and stay ahead in the market for better ROI.

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