Press release
Large Language Model (LLM) Market Predicted to Achieve USD 61.74 Billion Value by 2032 with 32.1% Growth Rate
The increase in demand for natural language understanding and the advanced capabilities of large language models are spurring the large language model (LLM) industry demand. Based on the offering segment, the services segment accounted for the largest market share in 2023. By region, Asia Pacific is anticipated to witness the fastest growth over the forecast period.
๐๐๐ญ ๐๐ง ๐๐ฑ๐๐ฅ๐ฎ๐ฌ๐ข๐ฏ๐ ๐๐๐ฆ๐ฉ๐ฅ๐ ๐๐๐ ๐จ๐ ๐๐ก๐ข๐ฌ ๐๐๐ฉ๐จ๐ซ๐ญ: https://www.polarismarketresearch.com/industry-analysis/large-language-model-llm-market/request-for-sample
๐๐ก๐ข๐ฌ ๐๐๐ฉ๐จ๐ซ๐ญ ๐๐๐๐ซ๐๐ฌ๐ฌ๐๐ฌ:
โข In 2023, the services segment accounted for the largest market share in the large language model (LLM) market. Overall, the Services segment's prominence underscored the importance of tailored support and guidance in maximizing the value and benefits derived from LLM technologies.
โข The industry segmentation is primarily based on offering, deployment outlook, modality, model size, application, industry vertical, and region.
โข In 2023, North America accounted for the largest share of the industry.
A large language model (LLM) is a type of artificial intelligence algorithm that's known for its natural language processing tasks. It makes use of novel technology and massively large datasets for understanding, summarizing, generating, and predicting new content.
A LLM follows a sophisticated process involving multiple components. First, the model is trained on massively large datasets with an unsupervised learning approach. Then, the LLM is trained and fine-tuned using supervised learning. After this, the model goes through the transformer neural network process, which enables it to understand and recognize the relationships between words. LLMs have gained traction among businesses as they have broad applicability for several NLP tasks. These include text generation, content summary, rewriting, segmental analysis, and conversational AI in chatbots.
๐๐ฎ๐ฒ ๐ญ๐ก๐ข๐ฌ ๐๐ซ๐๐ฆ๐ข๐ฎ๐ฆ ๐๐๐ฌ๐๐๐ซ๐๐ก ๐๐๐ฉ๐จ๐ซ๐ญ: https://www.polarismarketresearch.com/buy/3767/2
๐๐๐ฒ ๐๐ง๐๐ฎ๐ฌ๐ญ๐ซ๐ฒ ๐๐๐ซ๐ญ๐ข๐๐ข๐ฉ๐๐ง๐ญ๐ฌ
The competitive landscape of the industry is characterized by fragmentation. The large language model (LLM) market is anticipated to witness competition owing to the presence of a multitude of players. The top market participants in the industry are:
โข Alibaba Group Holding Limited
โข Amazon.com, Inc.
โข Baidu, Inc.
โข Google LLC
โข Huawei Technologies Co., Ltd.
โข Meta Platforms, Inc.
โข Microsoft Corporation
โข OpenAI LP
โข Tencent Holdings Limited
โข Yandex NV
๐๐ฉ๐ฉ๐จ๐ซ๐ญ๐ฎ๐ง๐ข๐ญ๐ข๐๐ฌ:
โข Customized Models: Businesses have the opportunity to fine-tune LLMs on their specific data to create customized AI solutions that address their unique needs.
โข AI Ethics and Governance: As LLMs become more integrated into society, there is an opportunity to establish ethical standards and governance frameworks to guide their development and use.
โข Integration with Other Technologies: Combining LLMs with other AI technologies such as computer vision and robotics can lead to more comprehensive AI solutions.
โข Emerging Markets: As LLM technology becomes more accessible, there is potential for growth in emerging markets where AI adoption is still in its early stages.
๐๐๐๐๐ฌ๐ฌ ๐๐ก๐ ๐ ๐ฎ๐ฅ๐ฅ ๐๐๐ฉ๐จ๐ซ๐ญ, ๐ก๐๐ซ๐: https://www.polarismarketresearch.com/industry-analysis/large-language-model-llm-market
๐๐จ๐ฅ๐๐ซ๐ข๐ฌ ๐๐๐ซ๐ค๐๐ญ ๐๐๐ฌ๐๐๐ซ๐๐ก ๐๐๐ฌ ๐๐๐ ๐ฆ๐๐ง๐ญ๐๐ ๐๐ก๐ ๐๐๐ซ๐ ๐ ๐๐๐ง๐ ๐ฎ๐๐ ๐ ๐๐จ๐๐๐ฅ (๐๐๐) ๐๐๐ซ๐ค๐๐ญ ๐๐๐ฉ๐จ๐ซ๐ญ ๐๐๐ฌ๐๐ ๐๐ง ๐๐๐๐๐ซ๐ข๐ง๐ , ๐๐๐ฉ๐ฅ๐จ๐ฒ๐ฆ๐๐ง๐ญ ๐๐ฎ๐ญ๐ฅ๐จ๐จ๐ค, ๐๐จ๐๐๐ฅ๐ข๐ญ๐ฒ, ๐๐จ๐๐๐ฅ ๐๐ข๐ณ๐, ๐๐ฉ๐ฉ๐ฅ๐ข๐๐๐ญ๐ข๐จ๐ง, ๐๐ง๐ ๐๐ง๐๐ฎ๐ฌ๐ญ๐ซ๐ฒ ๐๐๐ซ๐ญ๐ข๐๐๐ฅ.
Large Language Model (LLM), Offering Outlook (Revenue - USD Billion, 2019 - 2032)
โข Software
โข services
Large Language Model (LLM), Deployment Outlook (Revenue - USD Billion, 2019 - 2032)
โข Cloud
โข On-premises
Large Language Model (LLM), Modality Outlook (Revenue - USD Billion, 2019 - 2032)
โข Code
โข Image
โข Text
โข video
Large Language Model (LLM), Model Size Outlook (Revenue - USD Billion, 2019 - 2032)
โข Below 1 Billion Parameters
โข 1 Billion to 10 Billion Parameters
โข 10 Billion to 50 Billion Parameters
โข 50 Billion to 100 Billion Parameters
โข 100 Billion to 200 Billion Parameters
Large Language Model (LLM), Application Outlook (Revenue - USD Billion, 2019 - 2032)
โข Information retrieval
โข Language translation
โข Localization
โข Content generation
โข Code generation
โข Customer service automation
โข other
Large Language Model (LLM), Industry Vertical Outlook (Revenue - USD Billion, 2019 - 2032)
โข BFSI
โข Education
โข Healthcare & Life Sciences
โข IT/ITeS
โข Law Firms
โข Manufacturing
โข Media & Entertainment
โข Retail
โข Other
๐๐จ๐ซ๐ ๐๐ซ๐๐ง๐๐ข๐ง๐ ๐๐๐ญ๐๐ฌ๐ญ ๐๐๐ฉ๐จ๐ซ๐ญ๐ฌ ๐๐ฒ ๐๐จ๐ฅ๐๐ซ๐ข๐ฌ ๐๐๐ซ๐ค๐๐ญ ๐๐๐ฌ๐๐๐ซ๐๐ก:
Satellite Data Services Market: https://www.polarismarketresearch.com/industry-analysis/satellite-data-services-market
Lease Management Market: https://www.polarismarketresearch.com/industry-analysis/lease-management-market
Video Conferencing Market: https://www.polarismarketresearch.com/industry-analysis/video-conferencing-market
Location-Based Entertainment Market: https://www.polarismarketresearch.com/industry-analysis/location-based-entertainment-market
๐๐จ๐ง๐ญ๐๐๐ญ ๐๐ง๐๐จ:
Polaris Market Research
Phone: +1-929-297-9727
Email: sales@polarismarketresearch.com
๐๐๐จ๐ฎ๐ญ ๐๐ฌ:
Polaris Market Research is a worldwide market research and consulting organization. We give unmatched nature of offering to our customers present all around the globe across industry verticals. Polaris Market Research has expertise in giving deep-dive market insight along with market intelligence to our customers spread crosswise over various undertakings. We at Polaris are obliged to serve our different client base present over the enterprises of medicinal services, healthcare, innovation, next-gen technologies, semi-conductors, chemicals, automotive, and aerospace & defence, among different ventures present globally.
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