Generative AI Market Introduction and Overview
According to SPER Market Research, the Global Generative AI Market is estimated to reach USD 257.61 billion by 2033 with a CAGR of 34.31%.
Generative AI is a branch of artificial intelligence that focuses on the creation or generation of new content, such as original and real-looking images, texts, music, or videos. Machine learning models are trained to learn and understand patterns in existing data in order to generate new and original content. It typically uses deep learning algorithms, such as Generative Algorithms (GAN) and Variational Auto-Encoders (VAE), to generate content that is similar to input data. Generative AI models learn the patterns and structure of the training data, and generate new content by extrapolating knowledge.
- January 2023: Nvidia launched enterprise Metaverse technologies, such as virtual reality (VR) and augmented reality (AR) for a variety of generative artificial intelligence tools, including Omniversum. The company also unveiled its Omniverse portal, which includes updates for RTX and 3D, as well as an early-access program for developers who want to build avatars or virtual assistants.
Market Opportunities and Challenges
The demand for AI generated content is on the rise across various industries. In media and entertainment (M&E), gaming, advertising, and other sectors, there is an ever-growing need for fresh, engaging content to engage viewers and consumers. In digital marketing (DMT), AI generated personalized advertisements can target specific customer preferences to increase conversion rates. As deep learning continues to advance, the market for generative AI will continue to grow. Generative modeling has been revolutionized by deep learning algorithms, particularly those based on GANs and VAEs. Researchers and developers have continued to refine these algorithms, optimize model architectures and introduce new techniques to stabilise training and improve the quality of the generated content. As companies continue to look for ways to improve content creation and personalize ads, the demand for generative AI should continue to grow significantly.
Generative AI requires a high level of expertise in areas such as Machine Learning, Statistics, and Computer Science. There is a high demand for skilled people in the field, but there is also a low supply of talent. As a result, it can be challenging for companies to find the right talent for the development and deployment of generic AI solutions. The adoption of generic AI may be hindered by legal and regulatory constraints, such as data protection laws, restrictions on the usage of AI in specific industries or applications, which can reduce the adoption of generic AI and increase compliance costs.
Market Competitive Landscape
Generative AI solution & service providers have adopted a variety of inorganic and organic growth strategies, including new product introductions, product updates, partnerships and agreements, business growth, and mergers & acquisitions to increase their market presence. The major players in the Global Generative AI Market include: Adobe, Amazon Web Services, Genie AI Ltd., Google LLC, IBM Corporation, Inc., Microsoft Corporation, MOSTLY AI Inc., Rephrase.ai, Synthesia and Others.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2019-2033 |
| Base year considered | 2022 |
| Forecast period | 2023-2033 |
| Segments covered | By Component, By Technology, By End Users
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| Regions covered | North America, Asia-Pacific, Latin America, Middle East & Africa and Europe
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| Companies Covered | Adobe, Amazon Web Services, Genie AI Ltd., Google LLC, IBM Corporation, Inc., Microsoft Corporation, MOSTLY AI Inc., Rephrase.ai, Synthesia
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COVID-19 Impact on Global Generative AI Market
COVID-19 had a positive effect on the Generative AI market. The pandemic caused major disruptions across industries, and companies turned to AI-based solutions to address new challenges. Generative AI technologies like natural language processing (NLP) and image synthesis played an important role in drug discovery and vaccine development, as well as in medical research and data analysis. The shift to remote work also led to an increase in automation and AI-powered tools to increase productivity and efficiency. As a result, there was an increase in demand and adoption for Generative AI applications. This led to an expansion of the market and an increase in AI R&D investments. As a result, COVID-19 accelerated the growth and use of Generative AI across various sectors, creating new opportunities and advances in the field.
Key Target Audience:
- Healthcare Professionals
- Gaming and Entertainment
- Robotics and Automation
- Data Scientists and Analysts
- Businesses and Industries
Our in-depth analysis of the Generative AI Market includes the following segments:
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By Component:
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Services
Software
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By Technology:
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Diffusion Networks
Generative Adversarial Networks (GANs)
Transformers
Variational Auto-encoders
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By End Users:
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Automotive & Transportation
BFSI
Healthcare
IT & Telecommunication
Media & Entertainment
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Key Topics Covered in the Report:
- Global Generative AI Market Size (FY’2023-FY’2033)
- Overview of Global Generative AI Market
- Segmentation of Global Generative AI Market By Component (Services, Software)
- Segmentation of Global Generative AI Market By Technology (Diffusion Networks, Generative Adversarial Networks (GANs), Transformers, Variational Auto-encoders)
- Segmentation of Global Generative AI Market By End Users (Automotive & Transportation, BFSI, Healthcare, IT & Telecommunication, Media & Entertainment)
- Statistical Snap of Global Generative AI Market
- Expansion Analysis of Global Generative AI Market
- Problems and Obstacles in Global Generative AI Market
- Competitive Landscape in the Global Generative AI Market
- Impact of COVID-19 and Demonetization on Global Generative AI Market
- Details on Current Investment in Global Generative AI Market
- Competitive Analysis of Global Generative AI Market
- Prominent Players in the Global Generative AI Market
- SWOT Analysis of Global Generative AI Market
- Global Generative AI Market Future Outlook and Projections (FY’2023-FY’2033)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report
1.2. Market segment analysis
2. Research Methodology
2.1. Research data source
2.1.1. Secondary Data
2.1.2. Primary Data
2.1.3. SPER’s internal database
2.1.4. Premium insight from KOL’s
2.2. Market size estimation
2.2.1. Top-down and Bottom-up approach
2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis
4.1.1. Drivers
4.1.2. Restraints
4.1.3. Opportunities
4.1.4. Challenges
4.2. COVID-19 Impacts of the Global Generative AI Market
5. Market variable and outlook
5.1. SWOT Analysis
5.1.1. Strengths
5.1.2. Weaknesses
5.1.3. Opportunities
5.1.4. Threats
5.2. PESTEL Analysis
5.2.1. Political Landscape
5.2.2. Economic Landscape
5.2.3. Social Landscape
5.2.4. Technological Landscape
5.2.5. Environmental Landscape
5.2.6. Legal Landscape
5.3. PORTER’s Five Forces
5.3.1. Bargaining power of suppliers
5.3.2. Bargaining power of buyers
5.3.3. Threat of Substitute
5.3.4. Threat of new entrant
5.3.5. Competitive rivalry
5.4. Heat Map Analysis
6. Competitive Landscape
6.1. Global Generative AI Market Manufacturing Base Distribution, Sales Area, Product Type
6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Global Generative AI Market
7. Global Generative AI Market, By Component (USD Million)
7.1. Global Generative AI Market Value Share and Forecast, By Component, 2023-2033
7.2. Services
7.3. Software
8. Global Generative AI Market, By Technology (USD Million)
8.1. Global Generative AI Market Value Share and Forecast, By Technology, 2023-2033
8.2. Diffusion Networks
8.3. Generative Adversarial Networks (GANs)
8.4. Transformers
8.5. Variational Auto-encoders
9. Global Generative AI Market, By End Users (USD Million)
9.1. Global Generative AI Market Value Share and Forecast, By End Users, 2023-2033
9.2. Automotive & Transportation
9.3. BFSI
9.4. Healthcare
9.5. IT & Telecommunication
9.6. Media & Entertainment
10. Global Generative AI Market Forecast, 2019-2033 (USD Million)
10.1. Global Generative AI Market Size and Market Share
11. Global Generative AI Market, By Component 2019-2033 (USD Million)
11.1. Global Generative AI Market Size and Market Share By Component (2019-2026)
11.2. Global Generative AI Market Size and Market Share By Component (2027-2033)
12. Global Generative AI Market, By Technology, 2019-2033 (USD Million)
12.1. Global Generative AI Market Size and Market Share By Technology (2019-2026)
12.2. Global Generative AI Market Size and Market Share By Technology (2027-2033)
13. Global Generative AI Market, By End Users, 2019-2033 (USD Million)
13.1. Global Generative AI Market Size and Market Share By End Users (2019-2026)
13.2. Global Generative AI Market Size and Market Share By End Users (2027-2033)
14. Global Generative AI Market, By Region, 2019-2033 (USD Million)
14.1. Global Generative AI Market Size and Market Share By Region (2019-2026)
14.2. Global Generative AI Market Size and Market Share By Region (2027-2033)
14.3. Asia-Pacific
14.3.1. Australia
14.3.2. China
14.3.3. India
14.3.4. Japan
14.3.5. South Korea
14.3.6. Rest of Asia-Pacific
14.4. Europe
14.4.1. France
14.4.2. Germany
14.4.3. Italy
14.4.4. Spain
14.4.5. United Kingdom
14.4.6. Rest of Europe
14.5. Middle East and Africa
14.5.1. Kingdom of Saudi Arabia
14.5.2. United Arab Emirates
14.5.3. Rest of Middle East & Africa
14.6. North America
14.6.1. Canada
14.6.2. Mexico
14.6.3. United States
14.7. Latin America
14.7.1. Argentina
14.7.2. Brazil
14.7.3. Rest of Latin America
15. Company Profile
15.1. Adobe
15.1.1. Company details
15.1.2. Financial outlook
15.1.3. Product summary
15.1.4. Recent developments
15.2. Amazon Web Services
15.2.1. Company details
15.2.2. Financial outlook
15.2.3. Product summary
15.2.4. Recent developments
15.3. D-ID
15.3.1. Company details
15.3.2. Financial outlook
15.3.3. Product summary
15.3.4. Recent developments
15.4. Genie AI Ltd.
15.4.1. Company details
15.4.2. Financial outlook
15.4.3. Product summary
15.4.4. Recent developments
15.5. Google LLC
15.5.1. Company details
15.5.2. Financial outlook
15.5.3. Product summary
15.5.4. Recent developments
15.6. IBM Corporation
15.6.1. Company details
15.6.2. Financial outlook
15.6.3. Product summary
15.6.4. Recent developments
15.7. Microsoft Corporation
15.7.1. Company details
15.7.2. Financial outlook
15.7.3. Product summary
15.7.4. Recent developments
15.8. MOSTLY AI Inc.
15.8.1. Company details
15.8.2. Financial outlook
15.8.3. Product summary
15.8.4. Recent developments
15.9. Rephrase.ai
15.9.1. Company details
15.9.2. Financial outlook
15.9.3. Product summary
15.9.4. Recent developments
15.10. Synthesia
15.10.1. Company details
15.10.2. Financial outlook
15.10.3. Product summary
15.10.4. Recent developments
15.11. Others
16. List of Abbreviations
17. Reference Links
18. Conclusion
19. Research Scope
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
