How Big is The Generative AI Market:
IMARC Group, a leading market research company, has recently releases report “Generative AI Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028” The global generative AI market size reached US$ 10.3 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 30.4 Billion by 2028, exhibiting a growth rate (CAGR) of 20.01% during 2023-2028.
What is Generative AI?
Generative artificial intelligence (AI) refers to a subset of AI techniques that focus on creating, generating, or synthesizing new content, such as images, text, and audio. It can produce a wide range of outputs, making it versatile in creating various types of content. It can generate content with specific conditions or inputs, allowing for customized results. It automates content generation processes, saving time and resources in various industries. It aids in scientific research by generating hypotheses and exploring new possibilities in data analysis. It is widely used to create customized content and user recommendations, enhancing user experiences. Besides this, it is utilized to create human-like text for content generation, chatbots, and language translation.
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What are the growth prospects and trends in the Generative AI Industry:
The increasing availability of vast datasets and advancements in machine learning algorithms are empowering generative AI models to produce more sophisticated and convincing content across various domains. This is offering lucrative opportunities to businesses and industries seeking to automate content creation and enhance user experiences. Additionally, the escalating demand for personalized content and recommendations is offering a favorable market outlook. Apart from this, artists and designers are increasingly using generative AI to inspire and augment their creative processes, resulting in unique and innovative works. Furthermore, the rising utilization of generative AI in the gaming industry to create dynamic, ever-evolving game worlds, enhancing gameplay experiences and replay value, is strengthening the growth of the market. Moreover, the widespread adoption of generative AI in the healthcare sector is favoring the market growth. Generative AI can generate molecular structures and predict potential drug candidates more rapidly and accurately than traditional methods. Besides this, the democratization of generative AI tools and platforms is making it more accessible to businesses and developers, spurring innovation and adoption across industries. Cloud-based services and open-source frameworks allow organizations of all sizes to harness the power of generative AI without the need for extensive in-house expertise.
Top Generative AI Companies in The World:
- Adobe Inc.
- Amazon Web Services Inc.
- D-ID
- Google LLC
- MOSTLY AI Inc.
- OpenAI
- Rephrase.ai
- Synthesia
What is Included in Market Segmentation?
Breakup by Offering Type:
- Image
- Video
- Speech
- Others
Breakup by Technology Type:
- Autoencoders
- Generative Adversarial Networks
- Others
Breakup by Application:
- Healthcare
- Generative Intelligence
- Media and Entertainment
- Others
By Geography:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
Key highlights of the report:
- Market Performance (2017-2022)
- Market Outlook (2023- 2028)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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