Press release
Large Language Model (LLM) Market 2024 - By Size, Share Analysis, Growth Trends And Forecasts To 2033
Large Language Model (LLM) Market
Ready to Dive into Something Exciting? Get Your Free Exclusive Sample of Our Research Report @
https://www.thebusinessresearchcompany.com/sample.aspx?id=16105&type=smp
According to The Business Research Company's, The large language model (LLM) market size has grown exponentially in recent years. It will grow from $3.06 billion in 2023 to $3.92 billion in 2024 at a compound annual growth rate (CAGR) of 28.0%. The growth in the historic period can be attributed to the expansion of natural language processing (NLP) applications, growth in digital content creation, the rise of conversational AI, increased focus on personalization, and demand for intelligent automation.
The large language model (LLM) market size is expected to see exponential growth in the next few years. It will grow to $10.57 billion in 2028 at a compound annual growth rate (CAGR) of 28.1%. The growth in the forecast period can be attributed to the proliferation of artificial intelligence, growth in Internet of Things (IoT) devices, expansion of cloud computing services, demand for cybersecurity solutions, and rise of blockchain technology. Major trends in the forecast period include advancements in artificial intelligence (AI) and machine learning, the surge in demand for low-code and no-code platforms, emphasis on functional programming languages, technological advancement, and strategic collaborations.
Get The Complete Scope Of The Report @
https://www.thebusinessresearchcompany.com/report/large-language-model-llm-global-market-report
Market Drivers and Trends:
An increasing number of internet users is expected to propel the growth of the lead generation software market going forward. An internet user is an individual who has access to and utilizes the Internet, a global network of interconnected computers and devices. The number of internet users is rising due to social media and networking, e-commerce growth, and the digitization of services. Lead management software primarily serves businesses by optimizing their lead generation and conversion processes. It can indirectly benefit internet users by enhancing their experience, providing more relevant content and offers, and ensuring their data privacy and security. For instance, in February 2024, according to the International Telecommunication Union, a Switzerland-based specialized agency, the number of individuals using the internet increased from 5.1 billion in 2022 to 5.4 billion in 2023. Therefore, the increasing number of internet users is driving the growth of the lead generation software market.
Major companies operating in the large language model market are developing innovative solutions, such as open and enterprise-grade LLM, to serve customers with advanced features. The open and enterprise-grade LLM is a large language model optimized for complex enterprise workloads and released under a license for ungated use. For instance, in April 2024, Snowflake, a US-based cloud-based data platform company, launched Snowflake Arctic, a state-of-the-art large language model (LLM) designed to be the most open and enterprise-grade LLM available. The Arctic features a distinctive Mixture-of-Experts (MoE) architecture, providing superior intelligence with exceptional efficiency at scale. Its standout feature is its dedication to openness, as Snowflake is making Arctic's weights available under an Apache 2.0 license, allowing unrestricted personal, research, and commercial use. Additionally, they are sharing the research details behind its development, establishing a new benchmark for transparency and collaboration in enterprise AI technology.
Key Benefits for Stakeholders:
• Comprehensive Market Insights: Stakeholders gain access to detailed market statistics, trends, and analyses that help them understand the current and future landscape of their industry.
• Informed Decision-Making: The reports provide crucial data that support strategic decisions, reducing risks and enhancing business planning.
• Competitive Advantage: With in-depth competitor analysis and market share information, stakeholders can identify opportunities to outperform their competition.
• Tailored Solutions: The Business Research Company offers customized reports that address specific needs, ensuring stakeholders receive relevant and actionable insights.
• Global Perspective: The reports cover various regions and markets, providing a broad view that helps stakeholders expand and operate successfully on a global scale.
Major Key Players of the Market:
Apple Inc., Google LLC, Microsoft Corporation, Alibaba Group, Meta Platforms Inc., Huawei Technologies Co. Ltd., Tencent Holdings Ltd., Amazon Web Services, Intel Corporation, International Business Machines Corporation, Oracle Corporation, SAP SE, Salesforce.com Inc., Baidu, Inc., NIIT Ltd., OpenAI, Mozilla Foundation, The Apache Software Foundation, Nokia Bell Labs, JetBrains s.r.o., Linux Foundation, edX Inc., Udacity Inc., Julia Computing Inc., Zig Software Foundation, Haxe Foundation
Large Language Model (LLM) Market 2024 Key Insights:
• The large language model (LLM) market size is expected to see exponential growth in the next few years. It will grow to $10.57 billion in 2028 at a compound annual growth rate (CAGR) of 28.1%.
• The Role Of Chatbots And Virtual Assistants In Driving The Growth Of The Large Language Model (LLM) Market
• Innovative Solutions Are Transforming The LLM Market
• North America was the largest region in the large language model (LLM) market in 2023
We Offer Customized Report, Click @
https://www.thebusinessresearchcompany.com/Customise?id=16105&type=smp
Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
Facebook: https://www.facebook.com/TheBusinessResearchCompany
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Learn More About The Business Research Company
The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Large Language Model (LLM) Market 2024 - By Size, Share Analysis, Growth Trends And Forecasts To 2033 here
News-ID: 3713820 • Views: …
More Releases from The Business research company
Comprehensive Insights Into The Global Electric Bikes And Scooters Market: Key G …
The electric bikes and scooters report outlines and analyzes the electric bikes and scooters (excluding e-mopeds or 2-wheelers) market, covering the historic period 2019-2024 and the forecast period 2024-2029 and 2034F. The study examines the market across all regions and major regional economies.
The global electric bikes and scooters (excluding e-mopeds or 2 wheelers) market was valued at approximately $43.09310 billion in 2024, reflecting a CAGR of 12.12% since 2019. The…
Geothermal Heat Pump Market Report 2025: Size, Trends, and Key Growth Insights f …
The geothermal heat pump report outlines and analyzes the geothermal heat pump market, covering 2019-2024 as the historic period and 2024-2029, 2034F as the forecast period. The report examines the market across every region and assesses major economies within each region.
The global geothermal heat pump market reached $4.40620 billion in 2024, increasing at a CAGR of 5.70% since 2019. The market is projected to grow from $4.40620 billion in 2024…
Major Growth Driver Identified in 2025 VFX In Advertising Market: The Rise Of So …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
VFX In Advertising Market Size Valuation Forecast: What Will the Market Be Worth by 2025?
Over the past several years, the market size of vfx in advertising has seen robust growth. It is expected to expand from $2.8 billion in 2024 to a staggering $3.03 billion in 2025, exhibiting…
Driving Web Content, Search Portals And Social Media Market Growth in 2025: The …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
Web Content, Search Portals And Social Media Market Size Growth Forecast: What to Expect by 2025?
The market size for web content, search portals, and social media has seen quick expansion in the past few years. It's projected to expand from $682.14 billion in 2024 to $768.29 billion in…
More Releases for LLM
Introducing Model Catalog: One Place to Govern Every LLM an Organization Uses
Image: https://www.globalnewslines.com/uploads/2025/07/0c9f6d1adc3c6edfa8146784f3de5a8a.jpg
Platform teams are facing model sprawl: dozens of teams experimenting with LLMs, hundreds of models in use, and no clean way to manage cost, access, or risk.
That's why we're launching Model Catalog - a single control layer to manage access to 1,600+ LLMs across your org. Finally, platform teams get the visibility, governance, and control they've been asking for.
Built for scale and control, Model Catalog enables teams to experiment,…
Emerging Trends Influencing The Growth Of The Large Language Model (LLM) Market: …
The Large Language Model (LLM) Market Report by The Business Research Company delivers a detailed market assessment, covering size projections from 2025 to 2034. This report explores crucial market trends, major drivers and market segmentation by [key segment categories].
How Big Is the Large Language Model (LLM) Market Size Expected to Be by 2034?
The large language model (LLM) market has experienced exponential growth in recent years. It is projected to grow…
Large Language Model(LLM) Market Strategic Trends for 2032
The Large Language Model (LLM) market has emerged as a transformative force in the realm of artificial intelligence, reshaping industries and enhancing human-computer interaction. As the demand for sophisticated natural language processing capabilities surges, LLMs have become integral to applications ranging from chatbots and virtual assistants to automated content generation and data analysis. Their relevance spans across sectors, including healthcare, finance, education, and beyond, reflecting the vast scope and potential…
Top Factor Driving Large Language Model (LLM) Market Growth in 2025: The Role Of …
"How Big Is the Large Language Model (LLM) Market Expected to Be, and What Will Its Growth Rate Be?
The substantial language model (LLM) market sector has seen explosive growth in recent past. Projections show an increase from $3.92 billion in 2024 to $5.03 billion in 2025 with a composite annual growth rate (CAGR) of 28.3%. The previous growth period experienced enhancement due to the broadening of natural language processing (NLP)…
Jenti's Specialized LLM: Building a Safer, Smarter AI Model Beyond GPT-4
2024 marked the year of increased interest in generative AI technology, a chat-bot service based on RAG(Retrieval-Augmented Generation. These services give out answers similar to a new company recruit. They make mistakes, they do write up reports but they've got a long way to go. But with the proper directions, they understand and apply it well.
In August 2024, Jenti Inc. along with Hyundai Engineering developed the first plant specialized large…
Global Large Language Model(LLM) Market Research Report 2023
Global Large Language Model (LLM) Market
The global Large Language Model(LLM) market was valued at US million in 2022 and is anticipated to reach US million by 2029, witnessing a CAGR of % during the forecast period 2023-2029. The influence of COVID-19 and the Russia-Ukraine War were considered while estimating market sizes.
A big language model is one that has a large capacity for deep learning tasks and typically has a complicated…
