Large Language Model (LLM) Market Report: Trends, Forecast and Competitive Analysis to 2030

Large Language Model (LLM) Trends and Forecast

The future of the global large language model (LLM) market looks promising with opportunities in the large legal department, mid-size legal department, and small legal department markets. The global large language model (LLM) market is expected to grow with a CAGR of 10.1% from 2024 to 2030. The major drivers for this market are growing demand for technologies related to natural language processing, rising demand for personalized and user-friendly experiences, and on-going advancements in hardware and machine learning techniques.

A more than 150-page report is developed to help in your business decisions.

Large Language Model (LLM) by Segment

The study includes a forecast for the global large language model (LLM) by type, application, and region.

Large Language Model (LLM) Market by Type [Shipment Analysis by Value from 2018 to 2030]:

• Hundreds of Billions of Parameters
• Trillions of Parameters

Large Language Model (LLM) Market by Application [Shipment Analysis by Value from 2018 to 2030]:

• Large Legal Department
• Mid-Size Legal Department
• Small Legal Department

Large Language Model (LLM) Market by Region [Shipment Analysis by Value from 2018 to 2030]:

• North America
• Europe
• Asia Pacific
• The Rest of the World

List of Large Language Model (LLM) Companies

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies large language model (LLM) companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the large language model (LLM) companies profiled in this report include-

• Meta
• Ai21 Labs
• Tencent
• Yandex
• Deepmind
• Naver
• Open Ai

Large Language Model (LLM) Market Insights

Lucintel forecasts that trillion of parameter is expected to witness higher growth over the forecast period.

Within this market, large legal department will remain the largest segment.

North America will remain the largest region over the forecast period due to increasing adoption of generative AI technology and strong presence of leading LLM providers in the region.

Features of the Global Large Language Model (LLM) Market

Market Size Estimates: Large language model (LLM) market size estimation in terms of value ($B).

Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.

Segmentation Analysis: Large language model (LLM) market size by type, application, and region in terms of value ($B).

Regional Analysis: Large language model (LLM) market breakdown by North America, Europe, Asia Pacific, and Rest of the World.

Growth Opportunities: Analysis of growth opportunities in different types, applications, and regions for the large language model (LLM) market.

Strategic Analysis: This includes M&A, new product development, and competitive landscape of the large language model (LLM) market.

Analysis of competitive intensity of the industry based on Porter's Five Forces model.

FAQ

Q1. What is the growth forecast for large language model (LLM) market?

Answer: The global large language model (LLM) market is expected to grow with a CAGR of 10.1% from 2024 to 2030.

Q2. What are the major drivers influencing the growth of the large language model (LLM) market?

Answer: The major drivers for this market are growing demand for technologies related to natural language processing, rising demand for personalized and user-friendly experiences, and on-going advancements in hardware and machine learning techniques.

Q3. What are the major segments for large language model (LLM) market?

Answer: The future of the large language model (LLM) market looks promising with opportunities in the large legal department, mid-size legal department, and small legal department markets.

Q4. Who are the key large language model (LLM) market companies?

Answer: Some of the key large language model (LLM) companies are as follows.

• Meta
• Ai21 Labs
• Tencent
• Yandex
• Deepmind
• Naver
• Open Ai

Q5. Which large language model (LLM) market segment will be the largest in future?

Answer: Lucintel forecasts that trillion of parameter is expected to witness higher growth over the forecast period.

Q6. In large language model (LLM) market, which region is expected to be the largest in next 5 years?

Answer: North America will remain the largest region over the forecast period due to increasing adoption of generative AI technology and strong presence of leading LLM providers in the region.

Q7. Do we receive customization in this report?

Answer: Yes, Lucintel provides 10% customization without any additional cost.

This report answers following 11 key questions:

• Q.1. What are some of the most promising, high-growth opportunities for the large language model (LLM) market by type (hundreds of billions of parameters and trillions of parameters), application (large legal department, mid-size legal department, and small legal department), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
• Q.2. Which segments will grow at a faster pace and why?
• Q.3. Which region will grow at a faster pace and why?
• Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
• Q.5. What are the business risks and competitive threats in this market?
• Q.6. What are the emerging trends in this market and the reasons behind them?
• Q.7. What are some of the changing demands of customers in the market?
• Q.8. What are the new developments in the market? Which companies are leading these developments?
• Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
• Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
• Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?