Generative AI Market Trends, share, and Growth Report 2024-2028

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 2024-2028.

The latest research study “Generative AI Market Trends: Global Industry, Share, Size, Growth, Opportunity and Forecast 2024-2028” The study provides a detailed analysis of the industry, including the global generative ai market growth, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

What is Generative AI?

Generative AI refers to a technology that utilizes machine learning (ML) algorithms and artificial intelligence to enable devices to create new digital texts, videos, images, audio, or code. It is operated by solutions that can determine the underlying pattern of the input and develop identical outputs. In addition to this, generative AI offers various benefits, such as the creation of innovative, high-quality content, improved comprehension of abstract theories, enhanced identity protection, decreased financial and reputational risks, etc. As a result, this solution finds widespread across several sectors, including healthcare, robotics, media and entertainment, BFSI, IT, etc.

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What are the growth prospects and trends in the Generative AI Industry: 

The extensive utilization of artificial intelligence-integrated systems across various verticals for enhancing productivity and agility and the expanding information technology (IT) industry are among the primary factors fueling the generative AI market. Besides this, the escalating demand for this technology in the entertainment and media sector for the smart processing of low-resolution videos and images is further augmenting the market growth. Moreover, the elevating requirement for generative AI in the healthcare industry for manufacturing several products, such as organic molecules and prosthetic limbs from scratch, using 3D printing solutions is also propelling the global market.

Apart from this, the growing popularity of this technology to assist chatbots in boosting customer satisfaction and holding effective conversations is acting as another significant growth-inducing factor. In addition to this, the incorporation of this solution across the BFSI sector for synthetic data generation, trading prediction, fraud detection, and risk factor modeling is also boosting the market growth. Furthermore, the inflating need for this technology to produce digital artworks using only text-based descriptions and create virtual worlds in the metaverse is expected to bolster the generative AI market in the coming years.    

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Generative AI Market Report Segmentation:

The report has been segmented the market into following categories:

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 (2024- 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.

Competitive Landscape:

The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.

1 Preface

2 Scope and Methodology

    2.1 Objectives of the Study

    2.2 Stakeholders

    2.3 Data Sources

        2.3.1 Primary Sources

        2.3.2 Secondary Sources

    2.4 Market Estimation

        2.4.1 Bottom-Up Approach

        2.4.2 Top-Down Approach

    2.5 Forecasting Methodology

3 Executive Summary

4 Introduction

    4.1 Overview

    4.2 Key Industry Trends

5 Global Generative AI Market

    5.1 Market Overview

    5.2 Market Performance

    5.3 Impact of COVID-19

    5.4 Market Forecast

6 Market Breakup by Offering Type

    6.1 Image

        6.1.1 Market Trends

        6.1.2 Market Forecast

    6.2 Video

        6.2.1 Market Trends

        6.2.2 Market Forecast

    6.3 Speech

        6.3.1 Market Trends

        6.3.2 Market Forecast

    6.4 Others

        6.4.1 Market Trends

        6.4.2 Market Forecast

7 Market Breakup by Technology Type

    7.1 Autoencoders

        7.1.1 Market Trends

        7.1.2 Market Forecast

    7.2 Generative Adversarial Networks

        7.2.1 Market Trends

        7.2.2 Market Forecast

    7.3 Others

        7.3.1 Market Trends

        7.3.2 Market Forecast

8 Market Breakup by Application

    8.1 Healthcare

        8.1.1 Market Trends

        8.1.2 Market Forecast

    8.2 Generative Intelligence

        8.2.1 Market Trends

        8.2.2 Market Forecast

    8.3 Media and Entertainment

        8.3.1 Market Trends

        8.3.2 Market Forecast

    8.4 Others

        8.4.1 Market Trends

        8.4.2 Market Forecast

9 Market Breakup by Region

    9.1 North America

        9.1.1 United States

           9.1.1.1 Market Trends

           9.1.1.2 Market Forecast

        9.1.2 Canada

           9.1.2.1 Market Trends

           9.1.2.2 Market Forecast

    9.2 Asia-Pacific

        9.2.1 China

           9.2.1.1 Market Trends

           9.2.1.2 Market Forecast

        9.2.2 Japan

           9.2.2.1 Market Trends

           9.2.2.2 Market Forecast

        9.2.3 India

           9.2.3.1 Market Trends

           9.2.3.2 Market Forecast

        9.2.4 South Korea

           9.2.4.1 Market Trends

           9.2.4.2 Market Forecast

        9.2.5 Australia

           9.2.5.1 Market Trends

           9.2.5.2 Market Forecast

        9.2.6 Indonesia

           9.2.6.1 Market Trends

           9.2.6.2 Market Forecast

        9.2.7 Others

           9.2.7.1 Market Trends

           9.2.7.2 Market Forecast

    9.3 Europe

        9.3.1 Germany

           9.3.1.1 Market Trends

           9.3.1.2 Market Forecast

        9.3.2 France

           9.3.2.1 Market Trends

           9.3.2.2 Market Forecast

        9.3.3 United Kingdom

           9.3.3.1 Market Trends

           9.3.3.2 Market Forecast

        9.3.4 Italy

           9.3.4.1 Market Trends

           9.3.4.2 Market Forecast

        9.3.5 Spain

           9.3.5.1 Market Trends

           9.3.5.2 Market Forecast

        9.3.6 Russia

           9.3.6.1 Market Trends

           9.3.6.2 Market Forecast

        9.3.7 Others

           9.3.7.1 Market Trends

           9.3.7.2 Market Forecast

    9.4 Latin America

        9.4.1 Brazil

           9.4.1.1 Market Trends

           9.4.1.2 Market Forecast

        9.4.2 Mexico

           9.4.2.1 Market Trends

           9.4.2.2 Market Forecast

        9.4.3 Others

           9.4.3.1 Market Trends

           9.4.3.2 Market Forecast

    9.5 Middle East and Africa

        9.5.1 Market Trends

        9.5.2 Market Breakup by Country

        9.5.3 Market Forecast

10 SWOT Analysis

    10.1 Overview

    10.2 Strengths

    10.3 Weaknesses

    10.4 Opportunities

    10.5 Threats

11 Value Chain Analysis

12 Porters Five Forces Analysis

    12.1 Overview

    12.2 Bargaining Power of Buyers

    12.3 Bargaining Power of Suppliers

    12.4 Degree of Competition

    12.5 Threat of New Entrants

    12.6 Threat of Substitutes

13 Price Analysis

14 Competitive Landscape

    14.1 Market Structure

    14.2 Key Players

    14.3 Profiles of Key Players

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