How Big is The Generative AI Market:
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.
The latest research study “Generative AI Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028” The study provides a detailed analysis of the industry, including the global generative ai market 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 artificial intelligence (AI) involves the use of AI algorithms and models to generate new and original content, such as images, text, music, or videos, that resemble or mimic human-created content. It can generate designs, patterns, and prototypes for fashion, interior design, and product design, which enables designers to explore innovative possibilities. It can create personalized content, recommendations, or experiences based on user preferences and behavior, which enhances user engagement and customer satisfaction. It can be used to augment or synthesize data for training machine learning models, which enhances the performance and generalization capabilities of AI systems.
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What are the growth prospects and trends in the Generative AI Industry:
The increasing adoption of generative AI n the entertainment industry to create realistic computer-generated graphics, characters, and environments for movies, video games, and virtual reality experiences represents one of the primary factors strengthening the market growth around the world. Moreover, the rising use of generative AI in advertising and marketing to create personalized and targeted advertisements, generate engaging content for social media platforms, and develop virtual brand ambassadors or influencers is favoring the growth of the market. Besides this, the growing employment of generative AI in the healthcare sector for drug discovery and development, medical imaging analysis, and personalized treatment planning is influencing the market positively.
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 (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.
About Us:
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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