In-Depth Analysis of the Global Generative AI Market: 2024-2030 Forecasts

MarkNtel Advisors has recently released an in-depth study on the Generative AI Market, covering historical data, current market trends, marketing strategies, technological advancements, upcoming technologies, emerging opportunities, and technical advancements in the relevant industry.

How big is the Generative AI Industry?

The Global Generative AI Market was valued at USD 12 million in 2022 and it is estimated to grow at a CAGR of about 29.6% during the forecast period, i.e., 2024-30. 

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Who are the top players in the Generative AI Market?

• 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
• Others

Global Generative AI Market Segmentation:

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

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Regional/ Countries Insight:

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

What are the primary market drivers influencing the growth of Generative AI Market?

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.

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Gain a Competitive Edge with Market Research Report

1. The Global Generative AI Market Report by MarkNtel Advisors offers a detailed analysis of the market size, growth rate, competitive landscape, and key players, allowing businesses to gain a comprehensive understanding of market dynamics.
2. Businesses can utilize the report to identify emerging opportunities and potential challenges in the market by highlighting current trends and providing future projections.
3. The insights provided in the report enable companies to align their strategies based on market forecasts, ensuring they can stay ahead of the competition and make informed decisions.
4. Apart from market trends and projections, the Global Generative AI Market Report assists in assessing and mitigating risks associated with entering or operating in the market
5. By understanding market dynamics, regulatory frameworks, and potential challenges, businesses can develop strategic approaches to minimize risks and optimize their operations, enhancing their competitive edge in the market.

About Us

MarkNtel Advisors is a leading consulting, data analytics, and market research firm that provides an extensive range of strategic reports on diverse industry verticals. We being a qualitative & quantitative research company, strive to deliver data to a substantial & varied client base, including multinational corporations, financial institutions, governments, and individuals, among others.

We have our existence across the market for many years and have conducted multi-industry research across 80+ countries, spreading our reach across numerous regions like America, Asia-Pacific, Europe, the Middle East & Africa, etc., and many countries across the regional scale, namely, the US, India, the Netherlands, Saudi Arabia, the UAE, Brazil, and several others.

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