Generative AI Market by Offering, Application, End-use

List of Tables

[186 Pages Report] The Generative AI Market size was estimated at USD 16.89 billion in 2023 and expected to reach USD 22.25 billion in 2024, at a CAGR 33.24% to reach USD 125.93 billion by 2030.

Global Generative AI Market

KEY MARKET STATISTICS
Base Year [2023]	USD 16.89 billion
Estimated Year [2024]	USD 22.25 billion
Forecast Year [2030]	USD 125.93 billion
CAGR (%)	33.24%

Generative AI is characterized by developing, implementing, and integrating advanced artificial intelligence technologies that leverage machine learning algorithms and deep learning methods to create new content, designs, or data outputs autonomously. The generative AI market's growth includes increasing adoption of text-to-image conversion and text-to-video conversion applications. Furthermore, broadening the use of generative AI in visual applications is driving market growth. In contrast, growing concerns regarding data security, privacy, and output accuracy hamper the market. However, the emergence of fully automated generative AI, increasing demand for personalized content, integration with emerging technologies like IoT and AR/VR, and data-driven decision-making. Furthermore, several players are focusing on federated learning approaches to ensure data security while maintaining user privacy is an opportunity for this market.

Regional Insights

In the Americas, particularly in the United States and Canada, generative AI has been used extensively for enhancing customer experiences through personalized recommendations and targeted marketing strategies. This can be attributed to the presence of leading technology firms that are driving innovations in this field. Additionally, sectors like healthcare and pharmaceuticals have employed generative AI for drug discovery and optimizing patient care. In Asia-Pacific countries such as China, Japan, South Korea, Singapore, and India; there is a growing interest in generative AI applications focused on smart cities development that includes transportation planning, urban infrastructure maintenance as well as energy optimization. European countries such as Germany, France, United Kingdom along with the Nordic countries, show a keen interest in generative AI. They are majorly focused on sustainability and eco-friendly practices by utilizing this technology for smart energy grids, waste management optimization, and agriculture. Moreover, industries like automotive and aerospace in Europe use generative AI for design and simulation processes to enhance product development efficiency.

FPNV Positioning Matrix

The FPNV Positioning Matrix is pivotal in evaluating the Generative AI Market. It offers a comprehensive assessment of vendors, examining key metrics related to Business Strategy and Product Satisfaction. This in-depth analysis 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: 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 examination of the current state of vendors in the Generative AI Market. By meticulously comparing and analyzing vendor contributions in terms of overall revenue, customer base, and other key metrics, we can offer companies a greater understanding of their performance and the challenges they face when competing for market share. 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 this expanded level of detail, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

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, AI21 Labs Ltd., Amazon Web Services, Inc., Anthropic PBC, AssemblyAI, Clarifai, Inc., Codacy, Databricks, DeepL Translator, Dialpad, Inc., EleutherAI, Genie AI Ltd., Google LLC by Alphabet Inc., Infosys Limited, International Business Machines Corporation, Inworld AI, Lighttricks, Markovate, Media.io, Meta Platforms, Inc., Microsoft Corporation, Midjourney, Inc., Mostly AI Solutions MP GmbH, OpenAI, Paige AI, Inc., Persado, Inc., PlayHT, Rephrase.ai, Revery AI Inc., and Speechify.

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
- Software
Application
- Chatbot & Virtual Assistance
- Computer Vision
- ML-based Predictive Modeling
- Natural Language Processing (NLP)
- Robotics & Automation
- Speech Recognition
End-use
- Automotive & Transportation
- BFSI
- Energy
- Gaming
- Government
- Healthcare
- IT & Telecommunication
- Media & Entertainment
- Retail
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

The report offers valuable insights on the following aspects:

1. Market Penetration: It presents comprehensive information on the market provided by key players.

2. Market Development: It delves deep into lucrative emerging markets and analyzes the penetration across mature market segments.

3. Market Diversification: It provides detailed information on new product launches, untapped geographic regions, recent developments, and investments.

4. Competitive Assessment & Intelligence: It conducts an exhaustive assessment of market shares, strategies, products, certifications, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players.

5. Product Development & Innovation: It offers intelligent insights on future technologies, R&D activities, and breakthrough product developments.

The report addresses key questions such as:

1. What is the market size and forecast of the Generative AI Market?

2. Which products, segments, applications, and areas should one consider investing in over the forecast period in the Generative AI Market?

3. What are the technology trends and regulatory frameworks in the Generative AI Market?

4. What is the market share of the leading vendors in the Generative AI Market?

5. Which modes and strategic moves are suitable for entering the Generative AI Market?

Product Code: MRR-961BA04A2E25

1. Preface

1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Limitations
1.7. Assumptions
1.8. Stakeholders

2. Research Methodology

2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update

3. Executive Summary

4. Market Overview

4.1. Introduction
4.2. Generative AI Market, by Region

5. Market Insights

5.1. Market Dynamics
- 5.1.1. Drivers
  - 5.1.1.1. Focus on optimizing and modernizing workflow across businesses
  - 5.1.1.2. Applications of text-to-image conversion and text-to-video conversion
  - 5.1.1.3. Broadening use of generative AI in visual applications
- 5.1.2. Restraints
  - 5.1.2.1. Output accuracy concerns associated with generative AI
- 5.1.3. Opportunities
  - 5.1.3.1. Emergence of fully automated generative AI
  - 5.1.3.2. Favorable ecosystem for generative AI startups
- 5.1.4. Challenges
  - 5.1.4.1. Cybersecurity & data privacy risk
5.2. Market Segmentation Analysis
- 5.2.1. Offering: Consumers preference for software as offer fast deployment
- 5.2.2. Application: Growing use of chatbots and virtual assistants across industries for customer engagement
- 5.2.3. End-use: Increasing use of generative AI in Healthcare industry for personalized medicine
5.3. Market Trend Analysis
5.4. Cumulative Impact of High Inflation
5.5. Porter's Five Forces Analysis
- 5.5.1. Threat of New Entrants
- 5.5.2. Threat of Substitutes
- 5.5.3. Bargaining Power of Customers
- 5.5.4. Bargaining Power of Suppliers
- 5.5.5. Industry Rivalry
5.6. Value Chain & Critical Path Analysis
5.7. Regulatory Framework

6. Generative AI Market, by Offering

6.1. Introduction
6.2. Services
6.3. Software

7. Generative AI Market, by Application

7.1. Introduction
7.2. Chatbot & Virtual Assistance
7.3. Computer Vision
7.4. ML-based Predictive Modeling
7.5. Natural Language Processing (NLP)
7.6. Robotics & Automation
7.7. Speech Recognition

8. Generative AI Market, by End-use

8.1. Introduction
8.2. Automotive & Transportation
8.3. BFSI
8.4. Energy
8.5. Gaming
8.6. Government
8.7. Healthcare
8.8. IT & Telecommunication
8.9. Media & Entertainment
8.10. Retail

9. Americas Generative AI Market

9.1. Introduction
9.2. Argentina
9.3. Brazil
9.4. Canada
9.5. Mexico
9.6. United States

10. Asia-Pacific Generative AI Market

10.1. Introduction
10.2. Australia
10.3. China
10.4. India
10.5. Indonesia
10.6. Japan
10.7. Malaysia
10.8. Philippines
10.9. Singapore
10.10. South Korea
10.11. Taiwan
10.12. Thailand
10.13. Vietnam

11. Europe, Middle East & Africa Generative AI Market

11.1. Introduction
11.2. Denmark
11.3. Egypt
11.4. Finland
11.5. France
11.6. Germany
11.7. Israel
11.8. Italy
11.9. Netherlands
11.10. Nigeria
11.11. Norway
11.12. Poland
11.13. Qatar
11.14. Russia
11.15. Saudi Arabia
11.16. South Africa
11.17. Spain
11.18. Sweden
11.19. Switzerland
11.20. Turkey
11.21. United Arab Emirates
11.22. United Kingdom

12. Competitive Landscape

12.1. FPNV Positioning Matrix
12.2. Market Share Analysis, By Key Player
12.3. Competitive Scenario Analysis, By Key Player
- 12.3.1. Agreement, Collaboration, & Partnership
  - 12.3.1.1. Infosys collaborates with Microsoft to accelerate and democratize industry-wide adoption of generative AI
- 12.3.2. New Product Launch & Enhancement
  - 12.3.2.1. Indian users will be able to test AI-based Google search features
- 12.3.3. Investment & Funding
  - 12.3.3.1. Visa launches US$100 million venture fund for generative AI startups

13. Competitive Portfolio

13.1. Key Company Profiles
- 13.1.1. Accenture
- 13.1.2. AI21 Labs Ltd.
- 13.1.3. Amazon Web Services, Inc.
- 13.1.4. Anthropic PBC
- 13.1.5. AssemblyAI
- 13.1.6. Clarifai, Inc.
- 13.1.7. Codacy
- 13.1.8. Databricks
- 13.1.9. DeepL Translator
- 13.1.10. Dialpad, Inc.
- 13.1.11. EleutherAI
- 13.1.12. Genie AI Ltd.
- 13.1.13. Google LLC by Alphabet Inc.
- 13.1.14. Infosys Limited
- 13.1.15. International Business Machines Corporation
- 13.1.16. Inworld AI
- 13.1.17. Lighttricks
- 13.1.18. Markovate
- 13.1.19. Media.io
- 13.1.20. Meta Platforms, Inc.
- 13.1.21. Microsoft Corporation
- 13.1.22. Midjourney, Inc.
- 13.1.23. Mostly AI Solutions MP GmbH
- 13.1.24. OpenAI
- 13.1.25. Paige AI, Inc.
- 13.1.26. Persado, Inc.
- 13.1.27. PlayHT
- 13.1.28. Rephrase.ai
- 13.1.29. Revery AI Inc.
- 13.1.30. Speechify
13.2. Key Product Portfolio

14. Appendix

14.1. Discussion Guide
14.2. License & Pricing