Generative Artificial Intelligence (AI) Market Size, Trends, Share, Growth, Competitive Landscape Analysis 2030

The Generative Artificial Intelligence (AI) Market is anticipated to experience substantial expansion, ascending from a value of USD 11.3 billion in 2023 to a substantial worth of USD 76.8 billion by the year 2030.

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This growth trajectory reflects a robust compound annual growth rate (CAGR) of 31.5% over the forecast period. The surge in the generative AI sector is poised to be driven by a confluence of influential factors within the business landscape. Notably, the advent of cloud storage solutions facilitating seamless data accessibility, coupled with the continuous advancement of AI and deep learning technologies, stands out as pivotal contributors to this trend. Additionally, the proliferation of content creation endeavors and the growing demand for innovative creative applications are playing a pivotal role in propelling the upward trajectory of this market.

By offering, Software to register for the largest market share during the forecast period

The scope of the software segment comprises of rule based models, statistical models, deep learning, generative adversial networks (GANs), autoencoders, convolutional neural networks (CNNs) and transformer models. This dominance can be attributed to the accessibility and ease of adoption of software solutions, which typically have a wider user base. Furthermore, the anticipated technological maturity of Generative AI software tools during this period will likely offer a diverse range of applications, catering to various industries and driving increased adoption rates.

By application, marketing & sales segment of application by business function is expected to hold the largest market share during the forecast period

Marketing & sales segment is anticipated to command the largest market share. This is driven by the increasing recognition of Generative AI's potential to revolutionize customer engagement and decision-making processes. By automating content generation, customer insights analysis, and personalized recommendations, Generative AI can significantly enhance marketing strategies and sales interactions. As companies seek to gain a competitive edge through data-driven approaches, the adoption of Generative AI in marketing & sales functions is expected to see substantial growth, contributing to its dominant market position during the forecast period.

Europe is set to exceed USD 20 billion in Generative AI reveneue by 2030

Generative AI technology and solutions such as ChatGPT, DALL-E, and GPT have been increasingly adopted in organizational environments. Organizations in Europe deploy generative AI solutions to improve knowledge management and product/service innovation. Europe is set to exceed USD 20 billion in Generative AI reveneue by 2030

UK has a robust financial and fintech sector where AI-driven generative models are used for risk assessment, fraud detection, and algorithmic trading, driving significant demand.

Germany's Generative AI market is driven by its strong manufacturing and automotive sectors. The need for efficient production processes, predictive maintenance, and quality control is pushing companies to adopt AI-driven generative models

In France, the Generative AI market is propelled by its thriving creative industries, including art, fashion, and design. Generative AI's ability to assist in content generation, design, and personalization is in high demand

Spain's Generative AI market benefits from its expanding e-commerce and digital marketing landscape. Businesses are leveraging generative models to enhance customer experiences through personalized recommendations and content generation

Italy's Generative AI market is experiencing growth due to its strong presence in the luxury and fashion industries. Generative AI is being used for creative design, virtual try-ons, and personalized shopping experiences

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Some major players in the generative AI market include Microsoft (US), IBM (US), Google (US), AWS (US), META (US), Adobe (US), OpenAI (US), Insilico Medicine (Hong Kong) and Simplified (US). Some startups include Paige.AI (US), Riffusion (US), PlayHT (US), Speechify (US), Media.io (France), Midjourney (US), FireFlies (US), Brandmark.io (Netherlands), Morphis Technologies (Portugal).

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