Generative AI Market by Offering (Services, Software), Generative Model Type (Autoencoders, Convolutional Neural Networks, Deep Learning Models), Function, Application, End-use - Global Forecast 2024-2030

Generative AI Market by Offering (Services, Software), Generative Model Type (Autoencoders, Convolutional Neural Networks, Deep Learning Models), Function, Application, End-use - Global Forecast 2024-2030

The Generative AI Market size was estimated at USD 14.58 billion in 2023 and expected to reach USD 19.21 billion in 2024, at a CAGR 33.24% to reach USD 108.72 billion by 2030.

Generative AI, a part of artificial intelligence technologies, focuses on generating new content, data, and information similar to original inputs. It incorporates machine learning algorithms to produce outputs that can include text, images, music, voice, and other forms of media. These technologies have found applications across various sectors, including entertainment, automotive, and healthcare, for tasks such as content creation, drug discovery, and personalized customer experiences. The availability of more powerful and cost-effective computing resources, both in terms of hardware, including GPUs and cloud services, has made it feasible to train complex generative AI models on large datasets, fostering market growth. The exponential growth of data generated online provides ample training material for generative AI models, enabling them to learn and mimic various patterns, creating a platform for market growth. Increased interest and investment from both public and private sectors, coupled with collaborations between academia and industry, are accelerating the development and application of generative AI technologies. Data privacy and security issues with the usage of generative AI hamper the market growth. Continuous research and improvements in deep learning architectures, particularly in neural networks that enhance the capabilities of generative AI, are expected to create opportunities for market growth.

Regional Insights



In the Americas, the United States stands out as a pivotal hub for generative AI development with the rising presence of technology companies and a dynamic startup ecosystem. Canada also plays a crucial role, particularly in academic and research contributions, with its institutions being renowned for breakthroughs in AI and machine learning. South American countries are progressively embracing generative AI, with Brazil and Mexico expanding adoption across sectors such as finance, media, and retail. The APAC region exhibits a vibrant and diverse landscape for generative AI, characterized by rapid adoption and innovation. China, with its government's strategic focus on AI as a core technology for future development. The country is home to numerous AI giants and startups pioneering generative AI applications across various sectors, including entertainment, manufacturing, and healthcare. South Korea and Japan are notable for their technological prowess, with extensive research and development in robotics and AI, integrating generative models in various industrial and consumer applications. The EMEA region presents a complex picture due to its cultural, economic, and regulatory diversity. Europe is at the forefront, with several countries exhibiting strong commitments to AI research and development. The European Union's investment in AI, along with a focus on ethical standards and regulations such as the AI Act, underscores the region’s balanced approach towards fostering innovation while ensuring responsible AI deployment. The UK, Germany, and France are notable for their vibrant ecosystems comprising academia, startups, and established companies focusing on generative AI applications in finance, healthcare, and automotive sectors. In the Middle East, countries such as the UAE and Israel are investing in AI technologies, including generative AI, to drive economic diversification and innovation. The UAE, in particular, has launched several initiatives to become a global AI hub, integrating generative AI in public services, healthcare, and education. South Africa’s engagement with generative AI is in growing stages, with South Africa, Egypt, and Nigeria focusing primarily on applying AI in healthcare, agricultural, and financial inclusion projects.

Market Insights



Market Dynamics



The market dynamics represent an ever-changing landscape of the Generative AI Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.

Market Drivers


Focus on optimizing and modernizing workflow across businesses
Applications of text-to-image conversion and text-to-video conversion
Broadening use of generative AI in visual applications

Market Restraints


Output accuracy concerns associated with generative AI

Market Opportunities


Emergence of fully automated generative AI
Favorable ecosystem for generative AI startups

Market Challenges


Cybersecurity & data privacy risk

Market Segmentation Analysis


Offering: Rising usage of software associated with generative AI for the creation, customization, and deployment of AI models
End-use: Increasing use of generative AI in the government & defense for cybersecurity and simulation of scenarios for strategic planning

Market Disruption Analysis


Porter’s Five Forces Analysis
Value Chain & Critical Path Analysis
Pricing Analysis
Technology Analysis
Patent Analysis
Trade Analysis
Regulatory Framework Analysis

FPNV Positioning Matrix



The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Generative AI Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis



The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Generative AI Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Recent Developments




Strategic Acquisition of Clipdrop by Jasper Amplifies Multimodal Marketing Capabilities for Enterprises

Jasper acquired Clipdrop from Stability AI, marking a monumental leap in Jasper's journey towards delivering an all-encompassing, multimodal support system specifically tailored for enterprise marketing teams. The fusion of Clipdrop's technology with Jasper's AI-driven marketing solutions is anticipated to revolutionize personalized marketing strategies, offering unparalleled automation and optimization capabilities. The acquisition underscores Jasper's expansion into the European market and its commitment to nurturing the AI ecosystem in Paris.


Visa Ventures into Generative Artificial Intelligence with a USD 100 Million Investment Fund

Visa announced the initiation of a substantial USD 100 million venture fund dedicated to nurturing startups in the generative artificial intelligence (AI) domain, marking a significant endorsement of the field alongside technology giants. This move underscores the burgeoning interest in AI technologies, particularly following the widespread acclaim of the chatbot ChatGPT. Visa aims to explore and understand the transformative potential of generative AI beyond its current applications in tasks and content creation, particularly its impact on commerce.


Infosys and Microsoft Embark on a Pioneering AI-Driven Collaboration

Infosys announced its strategic collaboration with Microsoft to craft solutions by harnessing the power of Infosys Topaz, together with Azure OpenAI Service and Azure Cognitive Services. Uniting their AI expertise, both corporations aspire to revolutionize enterprise operations by offering AI-enhanced solutions across various sectors. The synergy with Microsoft enhances Infosys Topaz's capabilities, propelling businesses towards adopting AI-centric solutions, thereby strengthening operational efficiency, reducing processing times, safeguarding investments, and paving the way for innovative business models.

Strategy Analysis & Recommendation



The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Generative AI Market. This critical assessment involves a thorough analysis of the organization’s resources, capabilities, and overall performance to identify its core strengths and areas for improvement.

Key Company Profiles



The report delves into recent significant developments in the Generative AI Market, highlighting leading vendors and their innovative profiles. These include Accenture PLC, AI21 Labs Ltd., Amazon Web Services, Inc., Anthropic PBC, AssemblyAI, Inc., Clarifai, Inc., Databricks, Inc., DeepL SE, Dialpad, Inc., Genie AI Ltd., Google LLC by Alphabet Inc., Infosys Limited, International Business Machines Corporation, Lighttricks, Markovate, Inc., Meta Platforms, Inc., Microsoft Corporation, Midjourney, Inc., Mostly AI Solutions MP GmbH, OpenAI OpCo, LLC, Paige AI, Inc., Persado, Inc., Revery AI Inc., and Theai, Inc..

Market Segmentation & Coverage



This research report categorizes the Generative AI Market to forecast the revenues and analyze trends in each of the following sub-markets:

Offering
Services
Managed Services
Professional Services
Support & Maintenance Services
System Integration & Implementation Services
Training & Consulting Services
Software
Generative Model Type
Autoencoders
Denoising Autoencoders
Variational Autoencoders
Convolutional Neural Networks
Deep Learning Models
Feedforward Neural Networks
Gated Recurrent Units
Long Short-Term Memory Neural Networks
Recurrent Neural Networks
Generative Adversarial Networks
Conditional GANs
Cycle GANs
Style GANs
Rule-based Models
Expert Systems
Knowledge-based Models
Script-based Models
Statistical Models
Conditional Random Fields
Gaussian Mixture Models
Hidden Markov Models
Markov Models
Transformer-based Large Language Models
Function
Creative AI
Interactive AI
Predictive Models
Application
Application Development & API Integration
Customer Experience
Data Visualization
Digital Marketing
Fraud Detection/Risk Management
General Search & Insight Generation
Media Editing
Predictive Maintenance
Sales Intelligence
Synthetic Data Training
End-use
Banking, Financial Services & Insurance
Building & Construction
Energy & Utilities
Government & Defense
Healthcare & Life Sciences
IT & Telecommunication
Manufacturing
Media & Entertainment
Retail & eCommerce
Transportation & Logistics
Region
Americas
Argentina
Brazil
Canada
Mexico
United States
California
Florida
Illinois
New York
Ohio
Pennsylvania
Texas
Asia-Pacific
Australia
China
India
Indonesia
Japan
Malaysia
Philippines
Singapore
South Korea
Taiwan
Thailand
Vietnam
Europe, Middle East & Africa
Denmark
Egypt
Finland
France
Germany
Israel
Italy
Netherlands
Nigeria
Norway
Poland
Qatar
Russia
Saudi Arabia
South Africa
Spain
Sweden
Switzerland
Turkey
United Arab Emirates
United Kingdom

Please Note: PDF & Excel + Online Access - 1 Year