Market Research Report

Global Generative AI Market Research Report: Forecast (2024-2030)

Generative AI Market- By Component (Software, Service), By Technology (Generative Adversarial Networks (GANs), Transformers, Variational Autoencoder (VAE), Diffusion Networks, Retr...ieval Augmented Generation), By Application (Computer Vision, NLP, Robotics & Automation, Content Generation, Others (Chatbots & Intelligent Virtual Assistants, Predictive Analysis, etc.)), By Model (Large Language Models, Image & Video Generative Models, Multi-model Generative Models, Others (Text-to-Text Generative Models, Audio Generative Models, etc.)), By End User (Media & Entertainment, BFSI, Healthcare, IT & Telecom, Others (Automotive & Transportation, Gaming, etc.)), and Others Read more

  • ICT & Electronics
  • Nov 2023
  • 189
  • IT55071

Market Definition

Generative AI (Artificial Intelligence) is a form of machine learning that can generate text-to-image, text, video, image, audio, simulations, and other variety of content. Generative AI techniques typically utilize deep learning algorithms such as generative adversarial networks (GANs) and variational auto-encoders (VAEs) to produce content that closely looks like input data. It often includes training for machine learning modes to understand the existing data pattern to develop new and unique content.

Market Insights & Analysis: Global Generative AI Market (2024-30)

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
Study Period Historical Data: 2019-22
Base Year: 2023
Forecast Period: 2024-30
CAGR (2024-2030) 29.6%
Regions Covered North America: US, Canada
Europe: Germany, The UK, France, Spain, Italy, Rest of Europe
Asia-Pacific: China, India, Japan, South Korea, Australia, Southeast Asia, Rest of Asia-Pacific
South America: Brazil, Argentina, Rest of South America
Middle East & Africa: GCC, South Africa, Rest of MEA
Key Companies Profiled 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
Market Value (2022) USD 12 Million

 

The COVID-19 pandemic has also positively impacted the Generative AI market share as companies moved to online work mode, which increased the acceptance of new technologies & digitalization around the industries. AI can create personalized content based on a person’s preferences, making it more attractive & relevant to users. The improvements in deep learning & the desire to offer consumers more personalized, engaging, and relevant content & understanding have also augmented the market Furthermore, the rapid expansion of large language models acts as a lucrative opportunity for the Generative AI Market in the following years.


Global Generative AI Market Research Report: Forecast (2024-2030)

Global Generative AI Market Key Driver:

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.

Global Generative AI Market Possible Restraint:

Risks Associated with Data Security & Misuse of Generative AI to Hamper Industry Expansion

One of the major risks associated with technology is the breaching of sensitive information, which may lead to various problems in terms of both reputational & expenses. These risks are considered as the potential restraint for the market around the globe. Data security concerns and unresolved generative AI projects are impeding Generative AI market growth. As global data privacy requirements tighten, data security becomes more important in generative AI technology.

Nowadays, these technologies are used in a variety of industries where they interact with and generate massive amounts of critical data. The production and use of an excessive number of datasets for training generative AI models makes them a tempting target for cyber attackers. Hence, these concerns about generative AI would stifle market expansion.

Global Generative AI Market Growth 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.

Global Generative AI Market (2024-30): Segmentation Analysis

The Global Generative AI Market study by MarkNtel Advisors evaluates & highlights the major trends and influencing factors in each segment & includes predictions for the period 2024–2030 at the global level. In accordance to the analysis, the market has been further classified as:

Based on the Technology:

  • Generative Adversarial Networks (GANs)
  • Variational Auto-Encoders (VAE)
  • Diffusion Networks
  • Retrieval Augmented Generation

The 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. This is due to the notable abilities of GANs in producing highly realistic & varied content. GANs operate on a competitive framework, where a generator network generates artificial data, and a discriminator network appraises its legitimacy.

Due to continuous improvements, GANs have established supreme success in tasks such as image & video production, natural language generation, and creative content formation. GANs have the ability to generate a high-quality output with a variety of applications in industries. This growth supports the increasing demand for more contextual & controllable relevant content creation. Hence, such aspects directly support the usage of the GANs, which results in enhancing the Generative AI Market size.

Based on End User:

  • Media & Entertainment
  • BFSI
  • Healthcare
  • IT & Telecom
  • Others (Automotive & Transportation, Gaming, etc.)

The Media & Entertainment segment held a considerable share in the past years & accounted for potential revenue growth of the Generative AI Market during the projected period. The fueling adoption of the generative Al to create better advertisement campaigns probably increases the mandate for this technology in the media & entertainment sector. Moreover, the usage of generative AI for applications like image and video generation, special effects, and virtual environments is also pushing the demand graph.

Global Generative AI Market: Regional Projection

Geographically, the Generative AI Market expands across:

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

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. This is due to the rise in pseudo-imagination & medical care and surging banking scams. The presence of numerous key players such as Google LLC, Meta, Nvidia, OpenAI, Microsoft, and other developed technology organizations is also aiding in uplifting the market's growth graph.

The North America Generative AI Market is experiencing the impact of growing content in the media and entertainment industry, the expanding use of AI in healthcare, and various other key sectors. Additionally, the abundance of data available for training generative models is contributing to the increased adoption of generative AI across the regional scale.

Global Generative AI Industry Recent Developments

  • 2023: NVIDIA announced its partnership with Infosys, a player in next-generation digital services in the world, to boost the world’s enterprises' productivity with generative AI solutions and applications.
  • 2023: NVIDIA declared a widespread collaboration with Tata Group for the deployment of AI computing infrastructure & platforms for creating AI solutions.

Gain a Competitive Edge with Our Global Generative AI Market Report

  • Global Generative AI Market Research Report by MarkNtel Advisors provides a detailed & thorough analysis of market size, share, growth rate, competitive landscape, and key players. This comprehensive analysis helps businesses gain a holistic understanding of the market dynamics & make informed decisions.
  • This report also highlights current market trends & future projections, allowing businesses to identify emerging opportunities & potential challenges. By understanding market forecasts, companies can align their strategies & stay ahead of the competition.
  • Global Generative AI Industry Report aids in assessing & mitigating risks associated with entering or operating in the market. By understanding market dynamics, regulatory frameworks, and potential challenges, businesses can develop strategies to minimize risks & optimize their operations.

Frequently Asked Questions

   A. The Generative AI Market is expected to grow at a compound annual growth rate (CAGR) of around 29.6% from 2024-30.

   A. The Generative AI Market size was valued at around USD 12 million in 2022.

   A. The growing awareness about generative AI is expected to drive the Generative AI Market during 2024-30.

   A. 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 are the top generative ai companies in the global Market.

   A. The Generative Adversarial Networks (GANs) technology held the leading share of the leading Generative AI Market segment.

   A. North America would present growth prospects in the Generative AI Market during 2024-30.

   A. The rapid expansion of large language models (LLMS) to act as a potential growth opportunity for Generative AI Market over the forecast period.

Global Generative AI Market Research Report (2024-2030) - Table of Contents

 

  1. Market Segmentation
  2. Introduction
    1. Product Definition
    2. Research Process
    3. Assumptions
  3. Executive Summary
  4. Global Generative AI Market Trends & Insights
  5. Global Generative AI Market Dynamics
    1. Drivers
    2. Challenges
  6. Global Generative AI Market Hotspot & Opportunities
  7. Global Generative AI Market Policies, Regulations, Product Standards
  8. Global Generative AI Market Outlook, 2019-2030F
    1. Market Size & Analysis
      1. By Revenues (USD Million)
    2. Market Share & Analysis
      1. By Component
        1. Software- Market Size & Forecast 2019-2030F, USD Million
        2. Service- Market Size & Forecast 2019-2030F, USD Million
      2. By Technology
        1. Generative Adversarial Networks (GANs)- Market Size & Forecast 2019-2030F, USD Million
        2. Transformers- Market Size & Forecast 2019-2030F, USD Million
        3. Variational Autoencoder (VAE)- Market Size & Forecast 2019-2030F, USD Million
        4. Diffusion Networks- Market Size & Forecast 2019-2030F, USD Million
        5. Retrieval Augmented Generation- Market Size & Forecast 2019-2030F, USD Million
      3. By Application- Market Size & Forecast 2019-2030F, USD Million
        1. Computer Vision- Market Size & Forecast 2019-2030F, USD Million
        2. NLP- Market Size & Forecast 2019-2030F, USD Million
        3. Robotics & Automation- Market Size & Forecast 2019-2030F, USD Million
        4. Content Generation- Market Size & Forecast 2019-2030F, USD Million
        5. Others (Chatbots & Intelligent Virtual Assistants, Predictive Analysis, etc.)- Market Size & Forecast 2019-2030F, USD Million
      4. By Model
        1. Large Language Models- Market Size & Forecast 2019-2030F, USD Million
        2. Image & Video Generative Models- Market Size & Forecast 2019-2030F, USD Million
        3. Multi-model Generative Models- Market Size & Forecast 2019-2030F, USD Million
        4. Others (Text-to-Text Generative Models, Audio Generative Models, etc.)- Market Size & Forecast 2019-2030F, USD Million
      5. By End User
        1. Media & Entertainment- Market Size & Forecast 2019-2030F, USD Million
        2. BFSI- Market Size & Forecast 2019-2030F, USD Million
        3. Healthcare- Market Size & Forecast 2019-2030F, USD Million
        4. IT & Telecom- Market Size & Forecast 2019-2030F, USD Million
        5. Others (Automotive & Transportation, Gaming, etc.)- Market Size & Forecast 2019-2030F, USD Million
      6. By Region
        1. North America
        2. South America
        3. Europe
        4. The Middle East & Africa
        5. Asia-Pacific
      7. By Competition
        1. Market Share of Top Companies
        2. Competition Characteristics
  9. North America Generative AI Market Outlook, 2019-2030F
    1. Market Size & Analysis
      1. By Revenues (USD Million)
    2. Market Share & Analysis
      1. By Component- Market Size & Forecast 2019-2030F, USD Million
      2. By Technology- Market Size & Forecast 2019-2030F, USD Million
      3. By Application- Market Size & Forecast 2019-2030F, USD Million
      4. By Model- Market Size & Forecast 2019-2030F, USD Million
      5. By End User- Market Size & Forecast 2019-2030F, USD Million
      6. By Country
        1. The US
        2. Canada
    3. The US Generative AI Market Outlook, 2019-2030F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
      2. Market Share & Analysis
        1. By Component- Market Size & Forecast 2019-2030F, USD Million
        2. By Technology- Market Size & Forecast 2019-2030F, USD Million
    4. Canada Generative AI Market Outlook, 2019-2030F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
      2. Market Share & Analysis
        1. By Component- Market Size & Forecast 2019-2030F, USD Million
        2. By Technology- Market Size & Forecast 2019-2030F, USD Million
  10. South America Generative AI Market Outlook, 2019-2030F
    1. Market Size & Analysis
      1. By Revenues (USD Million)
    2. Market Share & Analysis
      1. By Component- Market Size & Forecast 2019-2030F, USD Million
      2. By Technology- Market Size & Forecast 2019-2030F, USD Million
      3. By Application- Market Size & Forecast 2019-2030F, USD Million
      4. By Model- Market Size & Forecast 2019-2030F, USD Million
      5. By End User- Market Size & Forecast 2019-2030F, USD Million
      6. By Country
        1. Brazil
        2. Argentina
        3. Rest of South America
    3. Brazil Generative AI Market Outlook, 2019-2030F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
      2. Market Share & Analysis
        1. By Component- Market Size & Forecast 2019-2030F, USD Million
        2. By Technology- Market Size & Forecast 2019-2030F, USD Million
    4. Argentina Generative AI Market Outlook, 2019-2030F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
      2. Market Share & Analysis
        1. By Component- Market Size & Forecast 2019-2030F, USD Million
        2. By Technology- Market Size & Forecast 2019-2030F, USD Million
  11. Europe Generative AI Market Outlook, 2019-2030F
    1. Market Size & Analysis
      1. By Revenues (USD Million)
    2. Market Share & Analysis
      1. By Component- Market Size & Forecast 2019-2030F, USD Million
      2. By Technology- Market Size & Forecast 2019-2030F, USD Million
      3. By Application- Market Size & Forecast 2019-2030F, USD Million
      4. By Model- Market Size & Forecast 2019-2030F, USD Million
      5. By End User- Market Size & Forecast 2019-2030F, USD Million
      6. By Country
        1. Germany
        2. The UK
        3. France
        4. Italy
        5. Spain
        6. Rest of Europe
    3. Germany Generative AI Market Outlook, 2019-2030F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
      2. Market Share & Analysis
        1. By Component- Market Size & Forecast 2019-2030F, USD Million
        2. By Technology- Market Size & Forecast 2019-2030F, USD Million
    4. The UK Generative AI Market Outlook, 2019-2030F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
      2. Market Share & Analysis
        1. By Component- Market Size & Forecast 2019-2030F, USD Million
        2. By Technology- Market Size & Forecast 2019-2030F, USD Million
    5. France Generative AI Market Outlook, 2019-2030F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
      2. Market Share & Analysis
        1. By Component- Market Size & Forecast 2019-2030F, USD Million
        2. By Technology- Market Size & Forecast 2019-2030F, USD Million
    6. Italy Generative AI Market Outlook, 2019-2030F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
      2. Market Share & Analysis
        1. By Component- Market Size & Forecast 2019-2030F, USD Million
        2. By Technology- Market Size & Forecast 2019-2030F, USD Million
    7. Spain Generative AI Market Outlook, 2019-2030F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
      2. Market Share & Analysis
        1. By Component- Market Size & Forecast 2019-2030F, USD Million
        2. By Technology- Market Size & Forecast 2019-2030F, USD Million
  12. Middle East & Africa Generative AI Market Outlook, 2019-2030F
    1. Market Size & Analysis
      1. By Revenues (USD Million)
    2. Market Share & Analysis
      1. By Component- Market Size & Forecast 2019-2030F, USD Million
      2. By Technology- Market Size & Forecast 2019-2030F, USD Million
      3. By Application- Market Size & Forecast 2019-2030F, USD Million
      4. By Model- Market Size & Forecast 2019-2030F, USD Million
      5. By End User- Market Size & Forecast 2019-2030F, USD Million
      6. By Country
        1. GCC
        2. South Africa
        3. Rest of Middle East & Africa
    3. GCC Generative AI Market Outlook, 2019-2030F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
      2. Market Share & Analysis
        1. By Component- Market Size & Forecast 2019-2030F, USD Million
        2. By Technology- Market Size & Forecast 2019-2030F, USD Million
    4. South Africa Generative AI Market Outlook, 2019-2030F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
      2. Market Share & Analysis
        1. By Component- Market Size & Forecast 2019-2030F, USD Million
        2. By Technology- Market Size & Forecast 2019-2030F, USD Million
  13. Asia-Pacific Generative AI Market Outlook, 2019-2030F
    1. Market Size & Analysis
      1. By Revenues (USD Million)
    2. Market Share & Analysis
      1. By Component- Market Size & Forecast 2019-2030F, USD Million
      2. By Technology- Market Size & Forecast 2019-2030F, USD Million
      3. By Application- Market Size & Forecast 2019-2030F, USD Million
      4. By Model- Market Size & Forecast 2019-2030F, USD Million
      5. By End User- Market Size & Forecast 2019-2030F, USD Million
      6. By Country
        1. China
        2. India
        3. Japan
        4. South Korea
        5. Australia
        6. Southeast Asia
        7. Rest of Asia-Pacific
    3. China Generative AI Market Outlook, 2019-2030F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
      2. Market Share & Analysis
        1. By Component- Market Size & Forecast 2019-2030F, USD Million
        2. By Technology- Market Size & Forecast 2019-2030F, USD Million
    4. India Generative AI Market Outlook, 2019-2030F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
      2. Market Share & Analysis
        1. By Component- Market Size & Forecast 2019-2030F, USD Million
        2. By Technology- Market Size & Forecast 2019-2030F, USD Million
    5. Japan Generative AI Market Outlook, 2019-2030F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
      2. Market Share & Analysis
        1. By Component- Market Size & Forecast 2019-2030F, USD Million
        2. By Technology- Market Size & Forecast 2019-2030F, USD Million
    6. South Korea Generative AI Market Outlook, 2019-2030F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
      2. Market Share & Analysis
        1. By Component- Market Size & Forecast 2019-2030F, USD Million
        2. By Technology- Market Size & Forecast 2019-2030F, USD Million
    7. Australia Generative AI Market Outlook, 2019-2030F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
      2. Market Share & Analysis
        1. By Component- Market Size & Forecast 2019-2030F, USD Million
        2. By Technology- Market Size & Forecast 2019-2030F, USD Million
    8. Southeast Asia Generative AI Market Outlook, 2019-2030F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
      2. Market Share & Analysis
        1. By Component- Market Size & Forecast 2019-2030F, USD Million
        2. By Technology- Market Size & Forecast 2019-2030F, USD Million
  14. Global Generative AI Market Key Strategic Imperatives for Success & Growth
  15. Competition Outlook
    1. Company Profiles
      1. IBM Corporation
        1. Business Description
        2. Product Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      2. Google LLC
        1. Business Description
        2. Product Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      3. Amazon Web Services
        1. Business Description
        2. Product Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      4. Adobe
        1. Business Description
        2. Product Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      5. Microsoft Corporation
        1. Business Description
        2. Product Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      6. Rephrase.ai
        1. Business Description
        2. Product Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      7. Meta
        1. Business Description
        2. Product Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      8. Genie AI Ltd.
        1. Business Description
        2. Product Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      9. MOSTLY AI Inc.
        1. Business Description
        2. Product Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      10. NVIDIA
        1. Business Description
        2. Product Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      11. Insilico Medicine
        1. Business Description
        2. Product Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      12. Open AI
        1. Business Description
        2. Product Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      13. Synthesia
        1. Business Description
        2. Product Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      14. Giphy
        1. Business Description
        2. Product Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      15. Lumen 5
        1. Business Description
        2. Product Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      16. Others
  16. Disclaimer


Generative AI Market Segmentation Slide