Generative AI Market 2030 By Component (Software, Services), Technology (Generative Adversarial Networks (GANs), Transformer, Variational Autoencoder (VAE), Diffusion Networks), End-User and Region - Partner & Customer Ecosystem (Product Services, Proposition & Key Features) Competitive Index & Regional Footprints by MarketDigits

The Generative AI Market size is estimated to grow from USD 9.8 Billion in 2022 to reach USD 56.5 Billion by 2028, growing at a CAGR of 34.2% during the forecast period from 2023 to 2030.

Major players Generative AI Market include: Microsoft Corporation, Synthesia, Google LLC, D-ID, MOSTLY AI Inc., IBM Corporation, Adobe., Rephrase.ai, Amazon Web Services, Inc., Genie AI Ltd. & others.

Unleashing the Potential: The Growth of Generative AI in Content Creation and Beyond

The generative AI market is expected to experience significant growth during the forecast period, driven by a number of important commercial factors. One of the primary factors driving this growth is the continuous evolution of artificial intelligence (AI) and deep learning technologies. Advancements in AI algorithms and models have unlocked new capabilities in generative AI, enabling machines to create content and generate creative outputs with impressive accuracy and complexity.

Another driving force behind the growth of the generative AI market is the increasing demand for content creation and creative applications across various industries. With the rise of digital media, gaming, advertising, and design sectors, there is a growing need for AI-powered tools that can generate high-quality content, such as images, videos, and even entire virtual worlds. Generative AI systems offer the ability to automate and accelerate the content creation process, enabling businesses to produce engaging and personalized experiences for their audiences.

Due such factors, the generative AI market is expected to witness significant growth. Businesses across industries are recognizing the potential of generative AI in enhancing creativity, improving efficiency, and delivering unique experiences to their customers. By harnessing the power of generative AI, organizations can unlock new possibilities in content creation, design, simulation, and beyond, driving innovation and differentiation in an increasingly competitive landscape.

Increasing Adoption of Generative AI technologies in Healthcare industry

Generative AI technologies are driving significant advancements in the healthcare industry by enhancing the accuracy and interpretability of reinforcement machine learning models. These models are now capable of unbiased decision-making and improved comprehension. In healthcare, the application of generative AI enables early identification of potential risks or adverse effects, leading to the development of more effective treatment strategies. For instance, through the utilization of generative adversarial networks (GANs), various perspectives of an x-ray image can be generated, providing healthcare professionals with a comprehensive visualization of tumor growth and aiding in timely intervention. This transformative capability of generative modelling has the potential to revolutionize patient care, improving diagnostic accuracy and treatment outcomes in the healthcare industry.

Country-Wise Insight

India is set to achieve the highest CAGR in the Asia Pacific region during the forecast period, driven by several factors that underscore its growing prominence in the field of artificial intelligence (AI). According to the Stanford AI Index Report 2023, Indian AI companies secured a remarkable $3.24 billion in funding in 2022, securing India the fifth spot among countries that received the highest investments in AI globally.

Recognizing the transformative potential of AI, the Indian government is actively embracing its capabilities and is determined not to lag behind in the AI revolution. In 2020, India collaborated with 15 other nations to establish the Global Partnership on Artificial Intelligence (GPAI), a collaborative effort aimed at establishing frameworks for the responsible utilization of emerging technologies. This alliance underscores India's commitment to shaping the future of AI in a responsible and ethical manner.

Furthermore, the Indian government has been dedicated to fostering a robust AI ecosystem within the country. Reports suggest that the integration of ChatGPT, an advanced language model, into chatbot systems such as Digital India Bhashini, launched in July 2022, is being actively explored. This showcases the government's focus on leveraging cutting-edge technologies to enhance citizen services and interactions.

The surge of interest in generative AI has also captured the attention of venture funds in India, leading them to develop investment strategies in this emerging domain. This heightened enthusiasm reflects the potential for generative AI to revolutionize various industries and drive innovation across sectors.

Generative AI Market Scope and Market Size

The Generative AI Market research report provides an in-depth overview of the industry including market segmentation by Component, Technology, End-User and Region. Analysis of the global market with special focus on high growth application in each vertical and fast-growing market segments. It includes detailed competitive landscape with identification of the key players with respect to each type of market, in-depth market share analysis with individual revenue, market shares, and top players rankings. Impact analysis of the market dynamics with factors currently driving and restraining the growth of the market, along with their impact in the short, medium, and long-term landscapes. Competitive intelligence from the company profiles, key player strategies, game-changing developments such as new product launch, collaborations, expansions, investment analysis, mergers and acquisitions.

Generative AI Market is segmented by region and further by countries, Component, Application, Deployment Mode, Organization Size, and Vertical. Players, stakeholders, and other participants in the global Generative AI Market will be able to gain a strong position as this report will surely benefit their marketing strategies. The market analysis focuses on revenue and forecast by region/countries and by application in terms of revenue forecast for the period 2023-2030.

Report further studies the market strategies of key players, recent development status, future plans and Generative AI Market trends across the world. Also, it splits Generative AI Market Segmentation by material, end-user and region to deep dive research and reveals company profile and prospects.

Major Classifications are as follows:

• By Component
• Software
• Services
• By Technology
• Generative Adversarial Networks (GANs)
• Transformer
• Variational Autoencoder (VAE)
• Diffusion Networks
• By End-user
• Media and Entertainment
• BFSI
• IT and Telecom
• Healthcare
• Automotive and Transportation
• Others
• By Region
• North America
• US
• Canada
• Latin America
• Brazil
• Mexico
• Argentina
• Rest of Latin America
• Europe
• UK
• Germany
• France
• Italy
• Spain
• Russia
• Rest of Europe
• Asia Pacific
• China
• Japan
• India
• South Korea
• Rest of Asia Pacific
• Rest of World
• Middle East
• UAE
• Saudi Arabia
• Israel
• Rest of the Middle East
• Africa
• South Africa
• Rest of Middle East & Africa

Reason to purchase this Generative AI Market Report:

• Determine prospective investment areas based on a detailed trend analysis of the global Generative AI Market over the next years.
• Gain an in-depth understanding of the underlying factors driving demand for different and Generative AI Market segments in the top spending countries across the world and identify the opportunities offered by each of them.
• Strengthen your understanding of the market in terms of demand drivers, industry trends, and the latest technological developments, among others.
• Identify the major channels that are driving the global Generative AI Market, providing a clear picture of future opportunities that can be tapped, resulting in revenue expansion.
• Channelize resources by focusing on the ongoing programs that are being undertaken by the different countries within the global Generative AI Market.
• Make correct business decisions based on a thorough analysis of the total competitive landscape of the sector with detailed profiles of the top Generative AI Market providers around the world which include information about their products, alliances, recent contract wins and financial analysis wherever available.