Generative AI Market Expansion: From Chatbots to Business Intelligence To Reach US$ 998.23Bn by 2031 | Most Leading Companies - Google, Microsoft, Amazon Web Services, Inc., IBM oracle, Nuance Communications, Inc

Global Generational AI Market reached US$ 44.56 billion in 2023 and is expected to reach US$ 998.23 billion by 2031, growing with a CAGR of 47.50% during the forecast period 2024-2031.

Generational AI Market report, published by DataM Intelligence, provides in-depth insights and analysis on key market trends, growth opportunities, and emerging challenges. Committed to delivering actionable intelligence, DataM Intelligence empowers businesses to make informed decisions and stay ahead of the competition. Through a combination of qualitative and quantitative research methods, it offers comprehensive reports that help clients navigate complex market landscapes, drive strategic growth, and seize new opportunities in an ever-evolving global market.

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Generative AI is a type of artificial intelligence that creates new content, including text, images, audio, and video, based on patterns learned from existing data. It is widely used in applications like chatbots, automated content generation, image synthesis, and AI-driven creativity in industries such as marketing, healthcare, and software development.

List of the Key Players in the Generational AI Market:

Google, Microsoft, Amazon Web Services, Inc., IBM oracle, Nuance Communications, Inc., FIS, SAP SE, Artificial Solutions and Kore.ai, Inc.

Industry Development:

March 2024: Microsoft and Adobe announced plans to integrate Adobe Experience Cloud with Microsoft Copilot, streamlining workflows and data management for marketers.

March 2024: Adobe and NVIDIA expanded their partnership to develop advanced generative AI models for creative professionals.

February 2024: GSMA and IBM collaborated to drive generative AI adoption in telecom through the GSMA AI Training program and Foundry AI initiative.

February 2024: OpenAI introduced Sora, a text-to-video generative AI model capable of creating high-quality one-minute films, with limited access for select users.

February 2024: Google launched Gemini 1.5, an advanced multimodal AI model, and introduced Gemma 2B & 7B, lightweight AI models for commercial and research use.

January 2024: Capgemini and AWS strengthened their partnership to accelerate enterprise adoption of generative AI, focusing on cost, scalability, and trust.

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Growth Forecast Projected:

The Global Generational AI Market is anticipated to rise at a considerable rate during the forecast period, between 2024 and 2031. In 2023, the market is growing at a steady rate, and with the rising adoption of strategies by key players, the market is expected to rise over the projected horizon.

Research Process:

Both primary and secondary data sources have been used in the global Generational AI Market research report. During the research process, a wide range of industry-affecting factors are examined, including governmental regulations, market conditions, competitive levels, historical data, market situation, technological advancements, upcoming developments, in related businesses, as well as market volatility, prospects, potential barriers, and challenges.

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Segment Covered in the Generational AI Market:

By Type: AI Chatbots, Voice Bots, Interactive Voice Assistants (IVA), Generative AI Agents

By Component: Solutions, Managed Services, Professional Services, Training & Consulting, System Integration & Implementation, Support & Maintenance

By Business Function: Sales & Marketing, Operations & Supply Chain, Finance & Accounting, Human Resources (HR), IT Service Management (ITSM), Others

By Integration Mode: Internal Enterprise Systems, External Communication Channels

By End-User: BFSI, Retail & eCommerce, Education, Media & Entertainment, Healthcare & Life Sciences, Travel & Hospitality, Automotive, IT/ITeS, Government & Defense, Other

Regional Analysis for Generational AI Market:

The regional analysis of the Generational AI Market covers key regions including North America, Europe, Asia Pacific Middle East and Africa and South America. The North America with a focus on the U.S., Canada, and Mexico; Europe, highlighting major countries like the U.K., Germany, France, and Italy, along with other nations in the region; Asia-Pacific, covering India, China, Japan, South Korea, and Australia, among others; South America, with emphasis on Colombia, Brazil, and Argentina; and the Middle East & Africa, which includes Saudi Arabia, the U.A.E., South Africa, and other countries. This comprehensive regional breakdown helps identify unique market trends and growth opportunities specific to each area.

⇥ North America (U.S., Canada, Mexico)

⇥ Europe (U.K., Italy, Germany, Russia, France, Spain, The Netherlands and Rest of Europe)

⇥ Asia-Pacific (India, Japan, China, South Korea, Australia, Indonesia Rest of Asia Pacific)

⇥ South America (Colombia, Brazil, Argentina, Rest of South America)

⇥ Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)

Benefits of the Report:

➡ A descriptive analysis of demand-supply gap, market size estimation, SWOT analysis, PESTEL Analysis and forecast in the global market.

➡ Top-down and bottom-up approach for regional analysis

➡ Porter's five forces model gives an in-depth analysis of buyers and suppliers, threats of new entrants & substitutes and competition amongst the key market players.

➡ By understanding the value chain analysis, the stakeholders can get a clear and detailed picture of this Market

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People Also Ask:

➠ What is the global sales, production, consumption, import, and export value of the Generational AI market?

➠ Who are the leading manufacturers in the global Generational AI industry? What is their operational status in terms of capacity, production, sales, pricing, costs, gross margin, and revenue?

➠ What opportunities and challenges do vendors in the global Generational AI industry face?

➠ Which applications, end-users, or product types are expected to see growth? What is the market share for each type and application?

➠ What are the key factors and limitations affecting the growth of the Generational AI market?

➠ What are the various sales, marketing, and distribution channels in the global industry?

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