Global Enterprise Generative AI Market to Reach $17.93 Billion by 2029, Growing at 39.9% CAGR

How Are the key drivers contributing to the expansion of the enterprise generative ai market?
The rise in new startups is expected to drive the growth of the enterprise-generative AI market. Startups are fast-growing companies created by entrepreneurs with innovative ideas or solutions. The surge in new startups is being driven by better access to funding, a growing entrepreneurial culture, changing market needs, and trends like remote work. Startups are utilizing enterprise-generative AI to accelerate product development, generate creative content, and innovate, which allows them to compete in dynamic markets with minimal resource investment. For instance, in May 2022, the U.S. Small Business Administration reported that there were 31.7 million small businesses in the U.S., creating 10.5 million new jobs over the past two decades. Therefore, the rise in new startups is fueling the growth of the enterprise generative AI market.

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What growth opportunities are expected to drive the enterprise generative ai market's CAGR through 2034?
The enterprise generative AI market has seen explosive growth in recent years. It is expected to grow from $3.33 billion in 2024 to $4.67 billion in 2025, at a CAGR of 40.3%. The rapid growth is fueled by advances in deep learning, increased computing power, the development of generative adversarial networks, open-source initiatives, and contributions from research and academia.

The enterprise generative AI market is expected to grow exponentially, reaching $17.93 billion by 2029 at a CAGR of 39.9%. Growth is attributed to developments in explainable AI, edge computing expansion, synthetic data generation, quantum computing advancements, and regulatory considerations. Trends include AI expansion into new industries, multimodal capabilities, ethical AI practices, AI-as-a-service, and real-time adaptive learning.

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What are the emerging trends shaping the future of the enterprise generative ai market?
Companies in the enterprise generative AI market are developing advanced solutions like generative AI product suites to gain a competitive advantage. These suites use AI algorithms to enhance business functions across various industries. For instance, in January 2023, C3.AI launched the C3 Generative AI Product Suite, integrating AI capabilities from organizations like OpenAI and Google. This suite is designed to modernize industries such as aerospace, healthcare, and financial services, leveraging the power of advanced large language models.

Which growth-oriented segments of the enterprise generative ai market are leading the industry's development?
The enterprise generative AI market covered in this report is segmented -

1) By Components: Software, Services
2) By Model Type: Text, Image or Video, Audio, Code
3) By Application: Marketing And Sales, Customer Service, Product Development, Supply Chain Management, Other Applications
4) By End-User: Information Technology And Telecommunications, Banking, Financial Services, And Insurance (BFSI), Retail And E-Commerce, Healthcare, Manufacturing, Media And Entertainment, Other End-Users

Subsegments:
1) By Software: Generative AI Platforms, AI Model Development Tools, AI-Powered Automation Software, Natural Language Processing (NLP) Software, Generative Design Software
2) By Services: Consulting Services, Integration And Implementation Services, Managed Services, Training And Support Services, Custom AI Solution Development

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Which geographical regions are pioneering growth in the enterprise generative ai market?
North America was the largest region in the enterprise generative AI market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the enterprise generative ai market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

What companies are at the forefront of innovation in the enterprise generative ai market?
Major companies operating in the enterprise generative ai market are Google LLC, accenture* Plc, International Business Machines Corporation, PricewaterhouseCoopers International Limited, Oracle Corporation, Capgemini SE, McKinsey & Company, Klaviyo Inc., Scale AI Inc., C3.ai Inc., Smartly.io Inc., DataRobot Inc., Prophecy Labs Inc., Coveo Solutions Inc., Bubble Group Inc., Grammarly Inc., Jasper.ai Inc., Aisera Inc., Kensho Technologies Inc., OpenAI Technologies Inc., Mix book Inc., Lily AI Inc., Cohere Technologies Inc., Test Fit Inc., Symbl.ai Inc.

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What Is Covered In The Enterprise Generative AI Global Market Report?

•Market Size Forecast: Examine the enterprise generative ai market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the enterprise generative ai market for a structured understanding.
•Key Players Overview: Analyze major players in the enterprise generative ai market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the enterprise generative ai market.
•Segment Contributions: Evaluate how different segments drive overall growth in the enterprise generative ai market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the enterprise generative ai market.
•Industry Challenges: Identify potential risks and obstacles affecting the enterprise generative ai market.
•Competitive Landscape: Review strategic developments in the enterprise generative ai market, including expansions, agreements, and new product launches.

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