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Global Generative AI Market Analysis By Offering (Solutions, Services), By Application (Computer Vision, Synthetic Data Generation) & Forecast

  • PUBLISHED ON
  • 2024-10-03
  • NO OF PAGES
  • 247
  • CATEGORY
  • Information Communication & Technology
Market Overview
The global Generative AI market size was valued at USD 11,103 million in 2022 and is projected to reach USD 119,491 million by 2033, growing at a CAGR of 27.5% during the forecast period.

Report Scope

Report Attributes

Description

Market Forecast in 2022

USD 11,103 million

Market Forecast in 2033

USD 119,491 million

CAGR % 2023-2033

27.5%

Base Year

2022

Historic Data

2020-2021

Forecast Period

2023-2033

Report USP

Product, end-user industry, company share, company heat map, company Capacity Technology Product capacity, growth factors and more

Key Companies

OpenAI; DeepMind; NVIDIA; IBM; Microsoft; Google; Adobe; Salesforce; Amazon; Facebook


Global Generative AI Market- Description
Generative AI, also known as generative adversarial networks (GANs), has gained significant attention and popularity in recent years. It is a subfield of artificial intelligence that focuses on generating new content, such as images, videos, text, and music, based on patterns and examples from existing data. The introduction of generative AI has opened up new possibilities in various industries. It has been widely adopted in sectors such as gaming, entertainment, design, fashion, advertising, and healthcare. Generative AI allows businesses to create unique and realistic content, automate creative processes, and enhance user experiences.
Generative AI is being extensively used in creative applications such as digital art, fashion design, and music composition. Artists and designers can leverage GANs to generate novel and inspiring content, pushing the boundaries of traditional creativity. Generative AI is used to generate new content, including images, videos, and text, which can be used for various purposes such as marketing campaigns, social media, and personalized recommendations. It also helps in augmenting existing content by generating variations and adaptations. Synthetic media, which refers to the use of generative AI to create realistic and fabricated media, has gained both positive and negative attention. Deepfakes, a specific type of synthetic media, have raised concerns regarding misinformation and privacy. As a result, there is an increasing focus on developing techniques to detect and mitigate the harmful use of generative AI. Generative AI can be used to augment and simulate data, which is beneficial in scenarios where acquiring real-world data is challenging or expensive. This is particularly useful in domains like autonomous vehicles, robotics, and healthcare, where generating diverse and realistic training data is crucial.

Global Generative AI market: Key Trends
• Healthcare and Drug Discovery
Generative AI is making significant strides in healthcare, aiding in various areas such as medical imaging analysis, drug discovery, and personalized medicine. GANs can generate synthetic medical images, simulate biological processes, and assist in designing new drug molecules.

• Ethical Considerations and Regulation
As generative AI becomes more powerful, there is a growing need for ethical guidelines and regulations to ensure responsible use. The development of safeguards against misuse, privacy concerns, and potential biases in generated content is crucial for the sustainable growth of the generative AI market.

Global Generative AI Market- Geographical Analysis
North America has been a leading region in the generative AI market. The presence of major technology companies, such as Google, Microsoft, and IBM, has fueled the growth of generative AI in this region. The United States, in particular, has a well-established ecosystem of startups and research institutions that are actively involved in developing and implementing generative AI technologies. The region's advanced infrastructure, favorable government initiatives, and investments in AI research and development contribute to its dominant position in the market. Europe is also a significant market for generative AI, with countries like the United Kingdom, Germany, France, and the Nordic countries leading in adoption. European governments have been proactive in promoting AI research and innovation, leading to the establishment of several AI research centers and initiatives. The region's strong emphasis on data privacy and protection, as exemplified by the General Data Protection Regulation (GDPR), has influenced the development of generative AI technologies that prioritize ethical and responsible use of data.
The Asia Pacific region is experiencing rapid growth in the generative AI market, driven by countries such as China, Japan, South Korea, and Singapore. These countries have made substantial investments in AI research and development, and their tech giants, including Baidu, Tencent, and Alibaba, are actively involved in generative AI innovation. The region's large population, increasing internet penetration, and growing digital economy provide a fertile ground for the adoption of generative AI technologies across various industries.

Global Generative AI Market- Impact of COVID-19
The pandemic has highlighted the importance of automation and reducing reliance on human labor in various sectors. Generative AI, with its ability to automate tasks and generate content, has seen increased demand as businesses seek to streamline operations and reduce human contact. The pandemic has accelerated the pace of digital transformation across industries. This shift towards digitalization has created opportunities for generative AI solutions that can assist with tasks such as content generation, data analysis, and customer service, among others. With remote work becoming the norm during the pandemic, generative AI tools have played a crucial role in facilitating remote collaboration and communication. These tools enable teams to generate and share ideas, designs, and prototypes, even when physically dispersed. The healthcare industry has been at the forefront of battling the pandemic. Generative AI has been utilized in various healthcare applications, such as drug discovery, medical imaging analysis, and disease prediction. These applications have helped accelerate research efforts and improve patient care.

Global Generative AI market: Segmental Analysis
Offering
• Solutions
• Services

Application
• Computer Vision
• Synthetic Data Generation

Global Generative AI Market: Key Companies
• OpenAI
• DeepMind
• NVIDIA
• IBM
• Microsoft
• Google
• Adobe
• Salesforce
• Amazon
• Facebook
• Others

Global Generative AI Market: Regional Scope
North America
• U.S.
• Canada
• Mexico

Europe
• U.K.
• Germany
• France
• Italy
• Spain
• Rest of Europe

Asia Pacific
• China
• India
• Japan
• South Korea
• Australia
• Rest of Asia Pacific

South America
• Brazil
• Argentina
• Rest of South America

Middle East and Africa
• Saudi Arabia
• UAE
• Egypt
• South Africa
• Rest of Middle East and Africa

Why to buy this Report?
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Innovation: The report provides insights into emerging technologies and trends, which can help businesses stay up-to-date with the latest developments and make informed decisions about where to invest their resources.

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Frequently Asked Questions
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Case Study- Automotive Sector

One of the key manufacturers of automotive had plans to invest in electric utility vehicles. The electric cars and associated markets being a of evolving nature, the automotive client approached We Market Research for a detailed insight on the market forecasts. The client specifically asked for competitive analysis, regulatory framework, regional prospects studied under the influence of drivers, challenges, opportunities, and pricing in terms of revenue and sales (million units).

Solution

The overall study was executed in three stages, intending to help the client meet its objective of precisely understanding the entire market before deciding on an investment. At first, secondary research was conducted considering political, economic, social, and technological parameters to get a gist of the various aspects of the market. This stage of the study concluded with the derivation of drivers, opportunities, and challenges. It also laid substantial emphasis on understanding and collecting data not only on a global scale but also on the regional and country levels. Data Extraction through Primary Research

The second stage involved primary research in which several market players and automotive parts suppliers were contacted to study their viewpoint concerning the development of their market and production capacity, clientele, and product line. This stage concluded in a brief understanding of the competitive ecosystem and also glanced through the strategies and pricing of the companies profiled.

Market Estimates and Forecast

In the final stage of the study, market forecasts for the electric utility were derived using multiple market engineering approaches. This data helped the client to get an overview of the market and accelerate the process of investment.

Case Study- ICT Sector

Business process outsourcing, being one of the lucrative markets from both supply- and demand- side, has appealed to various companies. One of the prominent corporations based out of Japan approached us with their requirements regarding the scope of the procurement outsourcing market for around 50 countries. Additionally, the client also sought key players operating in the market and their revenue breakdown in terms of region and application.


Business Solution

An exhaustive market study was conducted based on primary and secondary research that involved factors such as labor costs in various countries, skilled and technical labors, manufacturing scenario, and their respective contributions in the global GDP. A comparative study of the market was conducted from both supply- and demand side, with the supply-side comprising of notable companies, such as GEP, Accenture, and others, that provide these services. On the other hand, large manufacturing companies from them demand-side were considered that opt for these services.


Conclusion

The report aided the client in understanding the market trends, including country-level business scenarios, consumer behavior, and trends in 50 countries. The report also provided financial insights of crucial players and detailed market estimations and forecasts till 2033.


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