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Expansion Of The Gaming Industry Boosts Growth Of The Generative AI Software Market Driver: Leading Transformation in the Generative AI Software Market in 2025
Expansion Of The Gaming Industry Boosts Growth
The generative AI software market is expected to grow from $15.99 billion in 2024 to $23.37 billion in 2025, reflecting a compound annual growth rate (CAGR) of 46.1%. The growth is attributed to increased computational power, advancements in deep learning algorithms, greater demand for automation and efficiency, availability of large datasets for training, and the expansion of applications across industries.
The generative AI software market is set for substantial expansion, projected to reach $71.94 billion by 2029 at a CAGR of 32.5%. Growth will be supported by increased AI adoption in creative industries, the development of new generative AI methodologies, integration with virtual and augmented reality, rising demand for personalized content, and AI-driven innovation in healthcare and drug discovery. Major trends include broader accessibility of generative AI tools, ethical AI considerations, convergence with blockchain technology, AI-driven generative design in manufacturing, and AI-powered content generation for social media and marketing.
What Is Driving the Growth Trajectory of the Generative AI Software Market?
Finally, the expansion of the gaming industry is boosting the growth of the generative AI software market. The gaming industry's continued growth, fueled by mobile gaming and increasing consumer engagement, is enhancing the demand for AI-driven game development tools. In 2023, the UK video game market saw significant growth, contributing to the rise of generative AI software in the sector.
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Which Leading Companies Are Shaping the Growth of the Generative AI Software Market?
Major companies operating in the generative AI software market report are Alphabet Inc.; Microsoft Corporation; Meta Platforms Inc.; Amazon Web Services Inc.; International Business Machines Corporation; NVIDIA Corporation; Adobe Inc.; Databricks Inc.; Anthropic Technology Ltd.; OpenAI LP; C3 AI Inc.; Hugging Face Inc.; Glean Labs Inc.; Synthesia Technologies Ltd.; Stability AI Inc.; SoluLab Inc.; Accubits Technologies Inc.; Neoteric Technology Ltd.; Tome Labs Inc.; Inflection AI Inc.; Cohere Technologies Inc.; Mostly AI GmbH; Jasper Solutions Inc.; Addepto Sp. z o.o.; Markovate Inc.
What Are the Major Trends Shaping the Generative AI Software Market?
Key players in the generative AI software market are focusing on developing sophisticated technology, like text-to-image tools, to secure a competitive advantage. These tools utilize AI algorithms to generate images based on text descriptions. In September 2023, OpenAI Inc., a leading U.S. AI research lab, released DALL-E 3, an upgraded version of its text-to-image tool. This AI software interprets natural language prompts to generate images and uses ChatGPT to create detailed prompts from user ideas. It improves the understanding of text prompts, produces highly detailed images, and includes safeguards to avoid legal issues and infringement on artists' intellectual property rights.
What Are the Key Segments of the Generative AI Software Market?
The generative AI software market covered in this report is segmented -
1) By Component: Software, Services
2) By Model: Large Language Models, Image And Video Generative Models, Multi-modal Generative Models, Other Models
3) By Application: Computer Vision, Natural language processing (NLP), Robotics And Automation, Content Generation, Predictive Analytics, Other Applications
4) By End-User: Media And Entertainment, Banking, Financial Services And Insurance (BFSI), Information Technology (IT) And Telecommunication, Healthcare, Automotive And Transportation, Other End-Users
Subsegments:
1) By Software: AI Model Development Tools, Generative Design And Content Creation Software, AI-Powered Automation Tools, Natural Language Processing (NLP) Software, Machine Learning (ML) Frameworks, Deep Learning Software
2) By Services: AI Consulting And Strategy, AI Solution Implementation, Custom AI Software Development, AI Integration And Support Services, AI Training And Workshops
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Which Region Dominates the Generative AI Software Market?
North America was the largest region in the generative AI software market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the generative AI software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Is Covered In The Generative AI Software Global Market Report?
- Market Size Analysis: Analyze the Generative AI Software Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Generative AI Software Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Generative AI Software Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Generative AI Software Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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