Generative AI Market Exceeds USD 12 Million in 2022, Projected to Surge with 29.6% CAGR by 2030

MarkNtel Advisors who is leading market research company, has recently published a research report, titled Global "Generative AI Market". The report is estimated historical data, base year and forecast period and the projections are made for the next five years, i.e., 2024-30. The data, facts, and figures are sourced from reliable platforms, including government portals, white papers, and others.

For a better understanding to download a free sample PDF of this study - https://www.marknteladvisors.com/query/request-customization/generative-ai-market.html

Market Study Period
Historical Data: 2019-22
Base Year: 2023
Forecast Period: 2024-30
CAGR (2024-2030): 29.6%

Global Generative AI Market Insights:

The Global Generative AI Market size was valued at around USD 12 million in 2022 and is estimated to grow at a CAGR of about 29.6% during the forecast period, i.e., 2024-30. The report covers each and every aspect of the market in detail, offering actionable insights to the stakeholders. We extensively cover key trends, opportunities, possible challenges, and major growth drivers for the industry. The report also highlights the role and involvement of governments and other relevant factors that promote market growth.

Global Generative AI Market Drivers:

Growing Awareness About Generative AI to Thrive Market Growth - The surging consciousness about Generative AI acts as a key driver of the Generative AI Market. Conventional AI-driven conversational interfaces are often limited by predefined instructions, resulting in inadequate responses due to their inability to fully comprehend user queries. Generative AI, on the other hand, addresses this issue by understanding, learning, and formulating chat responses based on context and intent.

These generative models rely on virtual assistants, incorporating technologies like chatbots, deep learning, NLP (Natural Language Processing), NGL (Natural Language Generation), and LLM (Large Language Models). As a result, this empowers intelligent virtual assistants and other conversational interfaces to engage with users in a more human-like manner. As consumers become more aware of the advantages of generative AI, its adoption is on the rise for various applications. The user-friendly nature & benefits provided by generative AI are expected to contribute to boosting the Generative AI Market growth in the foreseeable future.

Explore the Complete Generative AI Market Analysis Report - https://www.marknteladvisors.com/research-library/generative-ai-market.html

Which segments are covered in the Generative AI Market Research Report?

By Component
-Software
-Service

By Technology
-Generative Adversarial Networks (GANs)
-Transformers
-Variational Autoencoder (VAE)
-Diffusion Networks
-Retrieval Augmented Generation

By Application
-Computer Vision
-NLP
-Robotics & Automation
-Content Generation
-Others (Chatbots & Intelligent Virtual Assistants, Predictive Analysis, etc.)

By Model
-Large Language Models
-Image & Video Generative Models
-Multi-model Generative Models
-Others (Text-to-Text Generative Models, Audio Generative Models, etc.)

By End User
-Media & Entertainment
-BFSI
-Healthcare
-IT & Telecom
-Others (Automotive & Transportation, Gaming, etc.)

By Region
-North America
-South America
-Europe
-The Middle East & Africa
-Asia-Pacific

Top 10 Key Brands/Players in the Generative AI Market

Our analysts have closely analyzed leading players within the industry, providing stakeholders with valuable insights into the competitive landscape. This enables them to formulate strategic tactics based on the comprehensive data compiled in the report. The information encompasses recent developments, mergers and acquisitions, product/service launches, expansion plans, and revenue-generating opportunities. Notable entities featured in the report include:

-IBM Corporation
-Google LLC
-Amazon Web Services
-Adobe
-Microsoft Corporation
-Rephrase.ai
-Meta
-Genie AI Ltd.
-MOSTLY AI Inc.
-NVIDIA
-Insilico Medicine
-Open AI
-Synthesia
-Giphy
-Lumen 5
-Others

For a Customized Analysis Report, Just Drop Your Inquiry Here - https://www.marknteladvisors.com/query/request-customization/generative-ai-market.html

Frequently Asked Questions

-Which companies dominate the Generative AI Market in terms of market share?
-What is the projected market size of Generative AI Market in 2030?
-What key factor is anticipated to propel the Generative AI Market by 2030?
-How big is the Generative AI Market?

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-https://hijamacups.co.uk/2024/01/19/uae-port-automation-market-next-big-thing-industry-size-growth-demand-share-and-value-in-the-coming-year/
-https://www.cricketsclub.com/uae-port-automation-market-size-share-demand-latest-trends-and-investment-opportunity-2023-2028/
-https://followme.tribe.so/post/uae-port-automation-market-analysis-share-trends-challenges-and-growth-oppo--65aa0ccfe5f56ae2d1907083
-https://www.verdoos.com/read-blog/4616

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This release was published on openPR.