Generative AI Market (Component - Software, and Service; Technology - Generative Adversarial Networks (GANs), Transformer, Variational Autoencoder (VAE), Diffusion Networks, and Retrieval Augmented Generation; End User - Media and Entertainment, BFSI, IT and Telecom, Healthcare, Automotive and Transportation, and Others): Global Industry Analysis, Trends, Size, Share and Forecasts to 2030

A recent report published by Infinium Global Research on generative AI market provides in-depth analysis of segments and sub-segments in the global as well as regional generative AI market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional generative AI market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global generative AI market.

Market Insight:

The global generative AI market was valued at USD 10.21 billion in 2022 and is expected to reach USD 110.97 billion in 2030, with a CAGR of 30.39% during the forecast period 2023-2030.

The "Generative AI Market" refers to the worldwide marketplace for Artificial Intelligence (AI) technologies and solutions that specialize in creating or generating content in creative and human-like ways. Unlike traditional AI, which focuses on tasks like classification and prediction, generative AI can autonomously produce various forms of content, such as text, images, videos, and music. Within this global market, numerous technology companies and service providers offer a wide range of products, services, and applications that harness generative AI techniques. These solutions aim to create unique and valuable content, address complex challenges, and enhance various aspects of businesses and industries. The scope of the global generative AI market is extensive and continually expanding as AI technology advances further in the business landscape.

The growing demand for attractive and creative content in industries like marketing, advertising, entertainment, and design is driving the widespread adoption of generative AI solutions. Businesses are actively seeking AI-powered tools to produce top-tier text, images, videos, and other content that resonates effectively with their target audiences. Furthermore, the evolution of Natural Language Processing (NLP), exemplified by advancements like GPT-3, has played a pivotal role in expanding the use of generative AI. This progress has significantly enhanced the capability of generative AI to generate human-like text, leading to its adoption in various applications such as content generation, chatbots, and virtual assistants. However, implementing generative AI solutions often necessitates substantial initial investments in infrastructure, training, and technology integration. These financial requirements can pose challenges and act as constraints on the growth of the market. Nevertheless, the future prospects for the global generative AI market are filled with opportunities. These include content creation and marketing, the utilization of virtual assistants and chatbots, innovations in creative industries, and numerous other applications.

In the upcoming forecast period, North America is expected to maintain a prominent market share in the generative AI market. Specifically, the United States stands out as a global leader, housing renowned technology companies, research institutions, and innovation centers. These entities are at the forefront of driving advancements in generative AI, investing extensively in research and development initiatives. Furthermore, North America boasts a thriving artificial intelligence ecosystem, characterized by a concentration of AI startups, tech giants, and academic institutions. This dynamic ecosystem promotes innovation and collaborative efforts, creating a fertile environment for the development of generative AI solutions. Moreover, North America remains an attractive destination for substantial investments in AI technologies. Venture capital firms and investors actively channel funding into AI startups and projects, ensuring the availability of crucial financial resources for research and the commercialization of generative AI technologies. On the other hand, the Asia-Pacific (APAC) region emerges as the fastest-growing segment in the generative AI market. APAC nations, with a notable focus on countries like China and India, have witnessed robust economic growth in recent years. This economic expansion has translated into increased investments in technology, including generative AI, to enhance various sectors of their economies, North America's continued dominance in generative AI is underpinned by its established leadership in technology, research, and funding, while APAC's rapid growth highlights its emergence as a significant player in the global generative AI landscape, driven by economic expansion and technological investments.

Report Scope of the Generative AI Market:

Segment Covered

The report on global generative AI market covers segments such as component, technology, and end user. On the basis of component, the sub-markets include software, and service. On the basis of technology, the sub-markets include generative adversarial networks (GANs), transformer, variational autoencoder (VAE), diffusion networks, and retrieval augmented generation. On the basis of end user, the sub-markets include media and entertainment, BFSI, it and telecom, healthcare, automotive and transportation, and others.

Companies Profiled:

The report provides profiles of the companies in the market such as Synthesia Limited, Google LLC, Adobe Systems Incorporated, Genie AI Ltd., Amazon Web Services, Inc., Mostly AI, D-ID AI Video, Microsoft Corporation, IBM Corporation, and Rephrase Technology Corp..

Report Highlights:

The report provides deep insights into demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the generative AI market. Moreover, the study highlights current market trends and provides forecasts from 2023-2030. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.