Generative AI Market Scope
Generative AI is a set of algorithms that can generate new, realistic content such as text, images, or audio from training data. The most powerful generative AI algorithms are built on base models trained on vast amounts of self-supervised unlabelled data to identify underlying patterns across a wide range of tasks. These are built with the help of different technology namely generative adversarial network, transformer-based, variational autoencoder, diffusion network. Increasing demand for generative AI to Improve Efficiency and Quality of Content in Minimum Period of Time and increasing popularity of chatGPT, rise the demand for generative AI market
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
Key Companies Profiled | Microsoft Corporation (United States), Google AI (United States), Open AI (United States), IBM Corporation (United States), Adobe (United States), Insilico Medicine (Hong Kong), Rephrase.ai (United States), Synthesis AI (United States), Mostly AI (Austria) and Genei AI (United Kingdom) |
CAGR | % |
Generative AI market is a fragmented market due to the presence of various players. The players are focusing on developing innovative services and solutions to improve quality, enhances and promotes performance. The companies are coming up with partnerships or agreements along with planning strategic activities such as partnerships, product launch, mergers, and acquisitions which will help them to sustain in the market and maintain their competitive edge. Research Analyst at AMA estimates that United States Players will contribute to the maximum growth of Global Generative AI market throughout the predicted period.
Microsoft Corporation (United States), Google AI (United States), Open AI (United States), IBM Corporation (United States), Adobe (United States), Insilico Medicine (Hong Kong), Rephrase.ai (United States), Synthesis AI (United States), Mostly AI (Austria) and Genei AI (United Kingdom) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research are Veesual AI (France), Poly AI (United Kingdom), Bertha AI (United States), Sana Labs (Sweden) and Tavus (United States).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global Generative AI market by Type , by Application (Content Creation, Designing, Chat Responses, Research & Development and Others) and Region with country level break-up.
On the basis of geography, the market of Generative AI has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Southeast Asia, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
region held largest market share in the year 2022.
Market Leaders and their expansionary development strategies
In February 2023, Google invested 300 million USD in artificial intelligence in Anthropic. Under this agreement Google acquired 10% stake in start-up and enhanced Anthropic’s finance by buying computer resources from Search Company’s cloud computing division. This acquisition was done to strengthened Google presence in Generative AI market
In April 2023, AWS launched new AWS Generative AI Accelerator. It is 10 week program customise for generative AI start-ups. This launch is helpful for artist and creators to complete critical tasks of composition, stylization, imprinting, motion tracking, among others. This launch helped AWS to expand its presence in generative AI market
Influencing Trend:
Increasing Demand for Image, Video and Audio Generation through Generative AI
Market Growth Drivers:
Increasing Demand for Generative AI to Improve Efficiency and Quality of Content in Minimum Period of Time and Rising Demand for Generative AI across various Industries
Challenges:
Increasing Concerns related to Data Thefts and Privacy
Restraints:
High Cost Related to Developing and Deploying Generative AI Models
Opportunities:
Increasing technological advancements in generative AI and Growing Applications of Generative AI in Healthcare Industry
Key Target Audience
Generative AI Providing Companies, Government Bodies, Regulatory Bodies, Potential Investors, Research and Development Institutes, End Users and Others