Generative AI Market 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): Global Opportunity Analysis and Industry Forecast, 2021-2031
Generative AI refers to a process involving the use of AI- and ML-based models that produce text, images, blog posts, program code, poetry, and artwork. In addition, it includes tools for painting and creating pictures as well as for leveraging information found online to create press releases, white papers, company brochures, website articles, and article summaries. This solution can generate a new text based on the input it receives, and pretrained as it is trained on a large corpus of text data before being fine-tuned for specific tasks. For instance, the ChatGPT generative AI program can write marketing copy, computer code, blogs, and even search query results. In addition, one of the benefits of generative AI is that it can take over huge quantity of tedious, repetitive tasks which is performed by support staff such as data entry and compliance checks.
Rise in usage of AI-integrated systems across various verticals and surge in need to create virtual worlds in the metaverse and modernize the workforce across several industries are driving the growth of the market. In addition, growth in popularity of generative AI in the healthcare industry for rendering several products & services is fueling the growth of the generative AI market. However, generative AI has security issues as some models can be used fraudulently, leading to increase in identity theft, as well as involve high implementation cost that may limit the market growth. Conversely, increase in demand for machine learning and deep learning is anticipated to provide numerous opportunities for the expansion of the market during the forecast period.
The global generative AI market is segmented into component, technology, end user, and region. Depending on the component, the market is divided into software and services. By technology, it is divided into generative adversarial networks (GANs), transformers, variational auto-encoders, and diffusion networks. As per end user, it is segmented into media & entertainment, BFSI, IT, & telecom, healthcare, automotive & transportation, and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The global generative AI market is dominated by key players such as Adobe, Inc., Amazon Web Services, Inc., D-ID, Genie AI Ltd., Google LLC, IBM Corporation, Microsoft Corporation, MOSTLY AI Inc., Rephrase.ai, and Synthesia. These players have adopted various strategies to increase their market penetration and strengthen their position in the industry.
KEY BENEFITS FOR STAKEHOLDERSThe study provides an in-depth analysis of the global generative AI market forecast along with the current & future trends to explain the imminent investment pockets.
information about key drivers, restraints, & opportunities and their impact analysis on global generative AI market trends is provided in the report.
Porter’s five forces analysis illustrates the potency of the buyers and suppliers operating in the industry.
The quantitative analysis of the market from 2022 to 2031 is provided to determine the market potential.
Key Market SegmentsBy ComponentSoftware
Services
By TechnologyGenerative Adversarial Networks (GANs)
Transformer
Variational Autoencoder (VAE)
Diffusion Networks
By End UserMedia and Entertainment
BFSI
IT and Telecom
Healthcare
Automotive and Transportation
Others
By RegionNorth America
U.S.
Canada
Europe
UK
Germany
France
Italy
Spain
Rest of Europe
Asia-Pacific
China
India
Japan
Australia
South Korea
Rest of Asia-Pacific
LAMEA
Latin America
Middle East
Africa
Key Market Players
IBM Corporation
Genie AI Ltd.
MOSTLY AI Inc.
Google LLC
D-ID
Rephrase.ai
Amazon Web Services, Inc.
Microsoft Corporation
Adobe.
Synthesia
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